OCTION Collaborates with Krosscoin’s NFT Platform, Hashgreed to Offer Options on NFTs
Introduction to Krosscoin
Krosscoin is a universal app monetization platform and is currently aiming to disrupt a $200 billion Mobile App market by introducing a pay-as-you-use app monetization framework, where users will pay for apps when they access desired functions. Presently, existing users are only presented with the option to subscribe to monthly or annual packages. However, with the latest Krosscoin API, third-party developers will now be able to integrate their apps into Krosscoin’s monetization platform and charge users on a functional basis (pay as you use).
Current Issues in the Mobile App market
Despite the ever-growing and rapid expansion of the Mobile App market, developers are generating lesser revenue and wasting more resources.
Developers are exposed to currency risk which in turn, limits their revenue generation. Innovative solutions are needed in algorithmic trading, messaging, app monetization and several other industries.
By introducing a universalized KSS token, this will be the primary monetization currency in all Krosscoin apps and participating third-party apps. This will in turn provide a decentralized revenue framework and gives all apps a potential global reach. KSS token will also be created in multiple blockchains and is currently being constructed on Waves and EVM. Among the applications within the Krosscoin ecosystem, one of them is the Hashgreed NFT Auction platform, which currently sits on the Waves blockchain.
OCTION x Hashgreed
The Hashgreed platform is a NFT Auction Marketplace which makes use of the Waves signer for users to connect their wallets and to start bidding for NFTs. Users need to have a Waves Exchange Email or a Waves Exchange Seed Phrase to use the Hashgreed platform. In it’s own right, it is a highly innovative platform that is built on a highly efficient blockchain.
In a bid to further innovate, OCTION will collaborate with Hashgreed to launch a whole new digital asset class — options on NFTs.
Hashgreed has agreed to form the orderbook and manage the NFT production whereas OCTION will tap on this price feed to form Call/Put options on this new digital asset class. This essentially brings a revolutionary enhancement to the prediction markets category as options on NFTs is a never before seen endeavor by existing centralized and decentralized options trading platforms.
The question remains - what type of NFTs will be allowed for options trading on OCTION? Further details will be announced on a later date, but suffice to say, it will be something most of us are familiar with.
As always, THANK YOU for your continued support, and stay tuned for more exciting news on OCTION!
- The OCTION Team
OCTION is the world’s 1st CeDeFi Options Trading Platform built on the Binance Smart Chain. Users will be able to trade options through CeDeFi, with no middlemen, no centralized organization, lower fees, more option types and zero data or market manipulation. OCTION allows for options trading through a democratic framework on the Blockchain, specifically the Binance Smart Chain.