By the end of summer this year, the first protocol version of Polkally, a decentralized auction platform enabling creation and selling of non-fungible tokens (NFTs), will launch on the Polkadot Network and will be open for all, not just for art professionals.
It will bring with it a dedicated team of external experts that will carefully analyze smart contracts to ensure accuracy, if not perfection.
As for sales within its platform, only a minimal fee of 5% will be charged by Polkally. It will also have KALLY, its native token that can now only be bought through Uniswap, after its Initial Desk Offering (IDO) on ZeeDO and Poolz by mid-May.
More on Polkally
Polkally had a private sale of $700K worth of KALLY tokens. After that, these “digital assets” will only be available again on May 19 in a dual IDO.
The goal is to raise at least $200K on each of the IDOs for a total of at least $400K. This should bring a total fundraising haul of $1.1 million, enough to make the project gain some visibility and significance.
Polkally supports the creation of the most interoperable, user-friendly, and easy-to-use marketplace that values virtual artworks.
As the project is still in the development phase, its current pool of networks is expected to grow with the addition of Tron, EOS, Binance Smart Chain, and many more.
Polkally comes with key features like a dynamic auction system for selling artworks at reasonable prices, compatibility with EVM-compatible networks like Polkadot, and a decentralized “Know-Your-Customer” (KYC) based on IPFS.
Addressing common issues
The lack of interoperability, expensive fees, data vulnerability, and being too centralized are just some of the problems encountered today in existing NFT marketplaces.
Polkally addresses this issue with a minimal fee and no hidden charges while utilizing IPFS-based infrastructure to encrypt data for maximum protection.
Image courtesy of Polkally/YouTube
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Source: https://bitcoinerx.com/blockchain/polkally-the-low-cost-and-safe-nft-marketplace/
