Stellar’s first NFT market place Litemint’with the launch of the network is expected to increase the on-chain activity in the local crypto currency XLM. Printing an NFT on the Stellar network costs about $ 1.5, while it takes less than a minute. The features of Stellar’s new platform provide attractive opportunities for developers and new projects.
Stellar’s New Platform Is on Stage
Stellar Development Foundation, Monetary Authority of Singapore he was selected by the central bank for his work on the digital currency (CBDC). Stellar’s transition to the NFT sector through Livemint could lead to an acceleration of the upward trend. The decentralized protocol Stellar provides its benefit as a cross-border payment solution.
XLM is in a fierce competition with Ethereum and Ripple. Analysts expect the popular crypto currency to make a big comeback. However, some investors criticized XLM, noting that it took such a step only in the name of capturing the latest crypto trends.
The Ethereum ecosystem has pioneered digital art and collections with CryptoPunks, one of the oldest projects hosting a 10,000 pixel and unique collection. NFTs have evolved on layer 2 scaling and blockchain networks. Stellar is pleased with the launch of Litemint, a digital collection platform and NFT sunday NFT he joined the trend.
Stellar Is Expected to Gain an Upward Trend
The low transaction cost and short time can encourage creators to join Litemint. In return, the demand for Stellar will increase. The Stellar Development Foundation (SDF), the developer behind Stellar, recently announced Monetary Authority of Singapore (MAS) by central bank digital currency (CBDC) the project was selected for.
The Stellar blockchain was among the best projects in the average daily development activities on DEC, as well as Cardano, Chainlink and other altcoins. The updates to the Stellar ecosystem are expected to decelerate the upward trend among investors and NFT owners.
The popular crypto currency Stellar (XLM) is trading at 0.33 dollar levels as of the time of writing of this article.