The HBAR Foundation is pleased to announce its support for Hash Axis, a global non-fungible token (NFT) marketplace built on Hedera. The launch of Hash Axis on the Hedera Network supports the company’s mission to bring distributed ledger technology to the masses.
Since its inception, Hash Axis has delivered millions in HBAR directly to the wallets of artists and NFT creators from the sale of thousands of NFTs on the platform, many of which had never created or sold an NFT before. Hash Axis aims to leverage Hedera’s low and predictable fees, fast performance, and ability to handle a large number of transactions to drive the adoption of non-fungible tokens. The uses for these tokens range from collectible art pieces, membership passes, event tickets, exclusive content unlocked by token ownership and more.
The launch will benefit the Hedera ecosystem by leveraging HTS (Hedera Token Service) for NFT creation and HCS (Hedera Consensus Service) for transactions. Hash Axis as an open platform and marketplace, enables participants to enjoy the low transaction fees available on the Hedera Hashgraph by utilizing $HBAR when minting, buying, and selling Hedera NFTs through an intuitive and user-friendly no-code interface.
The grant provided by the HBAR Foundation to Hash Axis will reduce the barrier to entry for Hedera NFT creation and collection. The Hash Axis marketplace is dedicated solely to Hedera NFTs. The launch of Hash Axis on the Hedera Network through assistance from the HBAR Foundation will bring more users to the Hedera ecosystem.
The global NFT market witnessed a major boom in 2021. According to the data published by DappRadar, the NFT market generated more than $23 billion in trading volumes in 2021. The support from the HBAR Foundation will help Hash Axis expand its presence in the growing NFT space.