UK-based trading platform, CoinBurp has launched a non-custodial NFT wallet app as part of its ongoing plans to improve the emerging NFT market.
The UK's leading cryptocurrency trading platform, has launched the alpha version of their 'CoinBurp DeFi' NFT wallet. As the name implies, this product is designed to enable an inclusive NFT economy where users can purchase, own, and send NFT tokens. It's main priority is to be as user friendly as possible so that anyone, regardless of technical ability, will be able to use it.
In a recent blog post, CoinBurp describes its new DeFi wallet as a secure gateway to NFT marketplaces. The mobile app connects users to a variety of NFT marketplaces, such as OpenSea, and will soon provide full fiat integration for fast and secure payment options.
While explaining the importance and relevance of this offering, CoinBurp stated that the NFT sector is currently riddled by complex and inefficient processes. Therefore, with a combined 35 years of experience in the crypto brokerage scene, the CoinBurp team created a seamless portal for buying, storing, and sending NFTs:
"At CoinBurp, we want to solve the barrier to entry for an exciting new sector that is reshaping ownership, while bridging together the best of centralised finance features (e.g., security, insurance) to the potential of NFTs (e.g., value appreciation, permissionless, flexibility)."
CoinBurp Brings Compelling Features to the NFT Market
To ensure that users are spoiled with options, CoinBurp has partnered with Sandbox.game, Avastars, and NFT Boxes. These partnerships unlock instant access to premium in-game NFTs, tokenised art, and digital collectibles. Notably, the focus is not only on the compatibility of the platform; instead, CoinBurp highlights simplicity and security as other important pieces of the NFT puzzle. Hence, it will soon introduce fiat NFT purchases on and off-ramps to deliver a more robust NFT economy using GBP and EUR. According to CoinBurp, full fiat integration promises to bring more investors, art collectors, and gamers to the NFT market.
CoinBurp hopes to introduce the world's first-ever NFT raffle, which will offer CoinBurp's native NFTs and a chance to win exclusive NFTs from partner networks or marketplaces. Furthermore, the company has chosen a DAO-based governance model for its NFT wallet. Therefore, it is launching a utility token, $BURP, to establish a sustainable economy and community culture for their NFT ecosystem.
$BURP holders can stake their tokens on the non-custodial NFT wallet to generate interest or use it to pay for fees or earn rewards. Users are also required to own $BURP to become eligible for the NFT raffle.
As part of ongoing efforts to enable a sustainable architecture for $BURP, CoinBurp will be distributing 20% of its fee income using the $BURP token. The platform believes that this initiative will expand the utility of $BURP and create new engagement opportunities.
CoinBurp Maps Out an Eventful Year
In 2021, NFTs have become a mainstream phenomenon, thanks to the involvement of high-profile personalities and organisations. As such, it comes as no surprise that we are witnessing a surge in the demand for NFT offerings, which is why products like the CoinBurp DeFi wallet are looking to deliver appealing NFT functionalities. Before the end of 2021, the CoinBurp NFT wallet would have undergone a series of updates that promises to materialise unique NFT storage and gateway systems.
In Q2 2021, CoinBurp will implement Fiat on and off-ramp, the insurance-based custody service, and the raffle software for its NFT wallet. Also, CoinBurp, headed by CEO and Co-Founder Peter Wood, hope to partner with more marketplaces to open up more options to users. This will be followed by the introduction of multi-chain support, integration of additional fiat payment gateways, and the launch of a web version of the wallet in Q3 and Q4.