The Sologenic Development Foundation announced its intention to build a new entirely decentralized NFT Marketplace on the XRP ledger in order to provide users with exceptionally cheap transaction costs while minting, bidding, and trading NFTs on the current Sologenic DEX.
To encourage community participation in the ecosystem and suggested governance utilities, 200 million SOLO will be released through an airdrop to XRP and/or SOLO holders worldwide. At the time of this press release, SOLO’s current price is $4.27 USD, making this Airdrop one of the biggest in the crypto space’s history.
This airdrop will be funded by tokens now locked in the SOLO Community Fund (SCF) and SOLO Expansion Fund (SEF), which were established in early 2020 to grow and extend the SOLO community. On December 24th, 2021, at 20:00 UTC, a snapshot of all XRP and/or SOLO wallets that have established a Trustline with the Sologenic oracle will be taken.
Users may claim the airdrop by storing their assets on the centralized exchanges that are supporting it or by creating a Trustline directly from their private wallets. With a transaction fee of around $0.000005, the Sologenic DEX has garnered considerable appeal within the XRP and SOLO communities for trading other crypto assets and even fiat through several gateways that issue stable currencies on the XRP ledger, such as Bitstamp and Github.
At the time of this press release, the Sologenic DEX had over 20 million monthly page visits and 1.5 million monthly transactions. The Sologenic DEX is a cutting-edge decentralized trading platform that enables users to trade (peer-to-peer) a variety of crypto and forthcoming tokenized assets like as stocks and ETFs while maintaining complete custody of their own private keys, ensuring the ecosystem’s utmost security and trust.
The new Sologenic NFT marketplace enables the minting and sealing of many NFTs on the XRP ledger for a single transaction charge, removing the barrier that existing markets impose on new creators with excessively expensive gas fees.
This new marketplace will enable users to quickly mint NFTs in a variety of categories, including motion graphics, music, and sports collectibles, and will include an extremely easy and clean user interface that will appeal to both producers and collectors.
“Given the present level of user involvement on Sologenic DEX, the amount of enthusiasm within the SOLO community, and the industry’s demand for a speedy and cost-effective NFT marketplace, I think this new decentralised NFT marketplace will be a game changer for artists and collectors alike,” said Bob Ras, Co-Founder and Founder of the Sologenic Development Foundation.
The “Sologenic Development Foundation” a.k.a. SOLO Core team is an autonomous community of developers dedicated to the development of the Sologenic Ecosystem. It is made up of developers who are actively involved in a variety of open-source projects and use cases centered around XRP and SOLO.
