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CrossTower launches global NFT marketplace, offers rare music, art, movie and sports collectibles

CrossTower launches global NFT marketplace, offers rare music, art, movie and sports collectibles
Photo Credit: Pixabay
29 Mar, 2022
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Companies racing to grab a share of the non-fungible token (NFT) pie are banking on NFT marketplaces — the gateway to participate in the purchase and sales of these digital assets — from art to music to entire virtual worlds. Crypto-asset investment and trading CrossTower that is betting on NFTs, has launched a global NFT marketplace to reach a larger audience with its diverse set of NFT collection across segments. 

For this, the US-headquartered company with its India office in Gurugram has partnered with Antara, a Hollywood movie; Terrain Art, the first blockchain-powered global art ecosystem; Shannon Rose, an abstract artist from Miami’s Wynwood district; Alejandro Glatt, a Tulum-based NFT multidisciplinary artist; ANI, a media newswire and Mike Boornazian, an actor on HBO and TLC.  

NFTs represent digital art, music and gaming collectibles, backed by the blockchain technology that enables the existence of cryptocurrency. With economies turning increasingly virtual, NFTs are also expected to enable metaverse.   

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Through these exclusive partnerships, CrossTower’s NFT marketplace allows users to trade in NFT drops of Hollywood movies’ IP rights and other niche art collections, in fiat and cryptocurrency holdings. The exchange also aims to tap into sports sector and celebrities’ personal collections. To ensure authenticity and due diligence, CrossTower has set up selection committees for NFT drops of the premium and exclusive collections it is offering on its marketplace.  

According to the company, the marketplace also offers compliance friendly consulting services for NFT creators — helping with complex procedures, tax consultation and providing tiered advisory services.  

Buyers and collectors can access authentic and exclusive collections at the marketplace, like NFT drops of the Hollywood movie Antara’s IP rights and ANI’s exclusive news videos featuring Prime Minister Narendra Modi, Amitabh Bachchan, Sunil Dutt, Princess Diana and Sushmita Sen.  

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Traders can also participate in auctions to collect rare artwork. CrossTower’s marketplace provides a seamless resell experience, offering NFT purchases in Ether tokens. Eventually, CrossTower plans to integrate both the Algorand and the Polygon blockchains, so NFT collections are more accessible to users.  

In 2021 alone, the global marketplace for NFTs reached $41 billion, according to blockchain data company Chainalysis. With the evolving NFT market, CrossTower aims to build a credible marketplace that allows creators and collectors to reach a wider audience.   

This year, the global market for NFTs is slated to reach billions of dollars. The market is expected to grow to over $80 billion by 2025. Kapil Rathi, CEO and co-founder of CrossTower believes that CrossTower is well-positioned to grow alongside the NFT sector as it expands worldwide, as the company offers ‘an all-encompassing financial ecosystem with its listing, trading and financing capabilities’.  

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Rohit Tandon, Head of Product for Blockchain and Emerging Technology at CrossTower told Tech Circle, “NFT's uniqueness and rapid adoption have created an extraordinary buzz among artists, creators, and their fans. Therefore, we believe, there is a need for a credible NFT marketplace to reach a larger audience as movie actors, cricketers and other artists enter the market. Our collaboration with credible brands is another positive step in the right direction that will enhance the possibilities for creators and collectors alike.”  

“In addition to the increased crypto adoption rate worldwide, the NFT sector is undergoing a significant change and is booming. It has opened doors of opportunity for the creative ecosystem. The CrossTower marketplace also offers the world a direct window to a niche and rare tribal and handicraft art based NFT collection,” he said.