Maxim, a men’s lifestyle magazine, is launching an NFT marketplace called MaximNFT.com with the assistance of blockchain R&D lab xSigma Corporation, a subsidiary of Nasdaq-listed company ZK International.
Maxim enters the NFT market.
The partnership was announced in a press release issued by ZK International, xSigma’s parent company. The xSigma team will own and operate the MaximNFT marketplace, which Maxim will promote and attract users through its brand and large audience. Maxim has been a leading men’s magazine for over 25 years, reaching over 10 million men each month in 75 countries. Numerous celebrities have graced their covers, including Megan Fox, Shakira, Beyonce, and others.
The MaximNFT platform will make it simple for users to buy, sell, and create their own NFTs. NFTs, which stand for “non-fungible-tokens,” are one-of-a-kind digital properties whose official ownership is verified using blockchain technology. MaximNFT supports NFTs on a variety of blockchains, including Ethereum, Polkadot, and Binance-Smart Chain.
Surprisingly, the platform is said to include a new NFT trading feature called “NFT tokenization.” Users can use this feature to divide a single NFT into multiple parts and trade each as an individual piece. This could change the long-held belief that all NFTs are completely unique digital assets, transforming them into a kind of digital currency on Maxim’s marketplace.
xSigma, as a blockchain R&D lab, is in the business of creating such technologies. They create a variety of DeFi, stablecoin, and NFT products and applications with the help of a team that includes former Amazon, Facebook, Google, and Ripple engineers.
MaximNFT will also be the sole host of Maxim’s own NFT suite, as well as digital assets based on well-known brands, athletes, and celebrities. The suite’s specifics have yet to be revealed.
NFT Growth Will Be Explosive in 2021
This year has seen a significant increase in the popularity of the NFT space, with much of it concentrated in the last two months alone. According to Dappradar data, transaction volume will reach $1.5 billion in the first quarter of 2021. In fact, last month alone, $896 million in NFT sales volume was recorded.
Maxim’s establishment of an NFT marketplace is undoubtedly intended to capitalize on the industry’s rapid growth. Their platform will focus on providing sports, celebrity, and gaming-themed collectibles to the community, with a particular emphasis on gaming, which they anticipate will become deeply embedded with NFT technology in the future.