Global crypto exchange KuCoin officially announced support for Dego.Finance NFT assets at the launch of its liquidity trading platform, Pool-X. The Seychelles-based exchange aims to make a contribution to the industry, and its own long-term growth.
Non-Fungible Tokens, or NFTs, are digital tokens. These tokens could be a solution for many devs, and have drawn the attention of investors from different industries, including collectibles, artwork, and GameFi. In 2020, the crypto world became fully aware of NFTs potential and several different products were developed with tokens. Despite transaction volumes rising by 300% on a annual basis, the tokens will need attention from bigger blockchain organizations to grow further according to industry sources.
Johnny Lyu, CEO of KuCoin, believes non-fungible tokens have various applications in insurance, bonds and other areas. He said that KuCoin provided Dego.Finance with 100,000 KCS to support its growth, which will allow the exchange to "build a prosperous NFT world."KuCoin's public support for NFTs could be a turning point for the assets' future. The exchange is also the first major network to fund these assets, and has become a significant medium for popularizing NFTs. Pool X's PoS mining pool currently provides liquidity, connectivity nodes and operational solutions services. NFT deposits will be accepted from November 16 and withdrawals are scheduled to be accessible from November 20.