AAX Exchange, the first centralized exchange to use the London Stock Exchange technology for its platform, is now launching a remarkable NFT platform that will combine art with giving. The marketplace, which will allow collectors and creators to auction high end pieces of art, is initiating a creative charity campaign, which will culminate in half of all proceeds raised going to predesignated charities, while giving traders on the platform the opportunity to win NFTs in return for trading.
The launch campaign will see AAX, which is already a big name in the world of crypto trading, with over 1 million users across 100 countries, plunging into the world of digital art. NFTs, which stand for non fungible tokens, represent rare and unusual art and media, with each token being completely unique and not exchangeable for any other, as is the case for coins like Bitcoin, where one can be directly interchanged for another.
The total market cap for NFTs is unfathomable
According to the COO of AAX,
“Technology advances will inevitably bring other forms of changes. The last wave we witnessed changed cassettes to Spotify and much more. Same changes occurred with respect to art: it was an amazing revelation when 3D printing was used for installation artworks. Blockchain technology enables NFTs and allows artwork to live in the virtual world with its uniqueness and unique value.”
“The total market cap for NFTs is unfathomable. We are taking a small step forward but opening the NFT world to more users, and encouraging artists to try the new formats of work. ”
Users of the AAX platform can start by entering a lucky draw for prizes which include the AAX mascot of Alex and Ava_7 as NFTs.
All participants can enter the NFT charity campaign by submitting their own art and designs, representing the AAX logo, whether through art, media, video or music. Then they will post their creations to social media platforms using the #MyFirstNFTWithAAX hashtag, as well as submitting the creation through this form. The top 5 will be chosen by AAX and will be the first NFTs auctioned on the new marketplace. The winning creators will get half the proceeds to their AAX, and the other half will be sent to charity.