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    Gate NFT Launches NFT Liquidity Pools, Kicks-Off with MAYC and Azuki Fractional NFTs

    Creation Time:2022-11-24 05:06:01 UTCRead:8111

    Trading NFTs is a much different experience than trading other classes of cryptocurrency. Traditional NFT marketplaces rely on both buyers and sellers agreeing on often static prices, with a lot of time spent making or sorting through individual offers. This reliance on price agreements between two parties is why NFTs are illiquid relative to other asset classes. Meaning it's not always easy to trade an NFT at its market value quickly.
    However, cryptocurrency exchange Gate.io is changing this dynamic. Gate.io has launched Automated Market Maker (AMM) and liquidity pool functionality on Gate NFT, its NFT marketplace. This allows buyers and sellers to instantly trade NFTs without relying on a price agreement between two parties.
    At launch, Gate NFT has opened trading on four liquidity pools featuring Mutant Ape Yacht Club (MAYC) and Azuki fractional NFTs. Currently, the new feature supports USDT for buying and selling NFTs in liquidity pools and creating LP.

    Fractional NFT liquidity pools
    MAYC#8016: https://www.gate.io/en/nft/collection/13330/MAYC-8016
    MAYC#87: https://www.gate.io/en/nft/collection/13571/MAYC-87?tab=Pool
    MAYC#25072: https://www.gate.io/en/nft/collection/14399/MAYC-25072?tab=Pool
    Azuki#2641: https://www.gate.io/en/nft/collection/14111/Azuki-2641?tab=Pool

    Liquidity pools and AMM on Gate NFT
    AMMs are the same tech that decentralized exchanges are built on. They allow traders to buy and sell assets using liquidity pool (LP) smart contracts. Liquidity pools consist of two different assets that make up its trading pair, enabling traders to swap one asset in the liquidity pool for another instantly. In addition, anyone can create an LP and earn from transaction fees, provided they have assets to commit to the pool.
    Using liquidity pools on Gate NFT, an LP provider can create or participate in a pool that consists of NFTs from a particular collection paired with another cryptocurrency. Traders could then buy or sell within that pool, with the price determined instantly and automatically based on a set of known parameters.

    Smoother NFT trading and new earning opportunities
    Gate.io has launched this new feature to make trading NFTs a faster and easier experience for all parties involved. Liquidity pools on Gate NFT instantly match market demand with supply, providing the tools to make a notably illiquid market more liquid.
    Moreover, NFT collectors can access a new means of income that isn't just selling their pieces on the market. By contributing to or creating LP with their NFTs, they are rewarded with fees from every buy or sell in the pool. Additionally, NFT creators can bootstrap their NFT collection's launch by making it easier to trade out the door and earn income beyond just royalty fees.

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    Reach out to us!
    Twitter: https://twitter.com/Gate_Nft
    Telegram: https://t.me/gateio_nft_English
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    Discord: https://discord.gg/FpSN4EYxQn

    Gate.io Team
    Nov 24, 2022
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