Telos-based Simple Market aims to be the largest marketplace for digital assets
Technology is one of those things that keep society moving forward. The impact of technology on global growth and development cannot be overstated. The emergence of blockchain technology in the last decade heralded the start of a new era in technology. The most well-known application of blockchain, cryptocurrency, broke down barriers and altered the global financial landscape. The Non-fungible Token (NFT) is another emerging application of blockchain technology that is changing the concept and ownership of digital assets as we know it. This article will look at Simple Market, a digital assets marketplace built on the Telos blockchain, and how they intend to change the world through their innovations.
The Simple Market Digital Assets Marketplace
CryptoLions created Simple Market, a decentralized digital asset marketplace. Various artists and collectors can use the Simple Market platform to publish, buy, and sell NFTs. By establishing a “user-centric” platform, Simple Market hopes to set a new standard in the NFT industry. The platform includes some unique features, such as:
Kolobok
The Simple Market platform features Koloboks’ creatures, which can be bought or sold using the Telos blockchain native token, $TLOS. Kolobok is a unique NFT game based on characters from an Eastern Slavic fairy tale; the CryptoLions team also created the Kolobok game. Kolobok features a ‘play-to-earn’ mechanism, which allows you to earn NFTs and other rewards by playing the game. Essentially, you can breed rare NFTs while playing the game and sell them on the Simple Market Marketplace.
NFT Creator
The simple market is giving users the power to create their NFTs and Digital assets. The platform is “user-centric” and has given the users complete control over their collections and digital assets. At the same time, it provides a simple user experience to manage these assets.
Trading Interface
The simple market trading interface enables users to send trade offers to anyone while also accepting or declining any of those offers. This interface is designed to provide users with the best possible experience when trading their digital assets. Simple Market has made it possible for every trading function to be accessed with a single click.
Why Telos Blockchain?
One of the reasons simple market platforms chose Telos Blockchain is that it is one of the few blockchain platforms that are “web3-centric.” Because Simple Market appears to seek the best, it’s only natural that the platform incorporates the best the internet has to offer, the “next-generation” web3.0. Telos is a decentralized platform that runs on its token, $TLOS. Telos employs the Delegated Proof-of-Stake (DPOS) consensus, the unique selling points of which include stakeholder decentralization and a proven on-chain governance model. The governance model enables Telos blockchain projects to allow users to run and manage their platforms. Users get to choose which features to include, which partnerships to pursue, and so much more. The Ethereum blockchain, the most popular Blockchain in the world, is plagued by slow transaction speeds and high transaction fees. Telos Blockchain is 30 times faster than Ethereum Blockchain and has extremely low transaction fees. When it comes to speed, low cost, and scalability, and true decentralization, Telos has a few competitors. The “user-centric” Simple Market platform is built on Telos to benefit from its speed, low cost, and scalability.
Closing Thoughts
Because of its unique offerings and easy user experience, the simple market platform is set to scale. The platform appears to be a very promising project that is off to a great start. Being based on the Telos Blockchain has significant competitive advantages. Advantages like super low-cost, untouchable speeds, and scalability are drastic at this stage of blockchain. The simple market platform is well-positioned to establish itself as one of the leading digital asset marketplaces; it is truly a “next-generation” platform to keep an eye on.
