On November 15, major cryptocurrency exchange KuCoin announced that its liquidity trading platform, Pool-X, will soon introduce support for Dego.Finance NFT assets. The “people’s exchange” also expressed its desire to contribute to this industry, and assist in its long-term development.
Non Fungible Tokens, or NFTs, are digital assets that have increasing applications in various industries such as collectibles, artwork, and GameFi. In 2020, the crypto community began to witness their full potential, with many different products being built with NFTs at their core.
And while their transaction volume has seen a 300% spike this year alone, the tokens themselves have not received much attention from larger blockchain institutions. KuCoin is the first major platform to support this type of asset, becoming an important channel through which NFTs can be popularized.
KuCoin’s CEO, Johnny Lyu, said that Non Fungible Tokens have many applications in insurance, bonds, and other fields. He also stated that KuCoin has donated 100,000 KCS to Dego.Finance to help in its development, and that the exchange will help “build a prosperous NFT world”.
As one of the largest cryptocurrency exchanges, with 6 million reported users in 207 countries, KuCoin will introduce public support for NFTs through its PoS mining pool Pool-X, which currently offers liquidity market, node integration, and operational solutions services. The decentralized trading platform will start accepting NFT deposits on November 16, while withdrawals will be made available on November 20.