ZUG, Switzerland, Nov. 15, 2021 (GLOBE NEWSWIRE) — Various blockchains compete for traction in the NFT industry today, yet they fail to provide the necessary infrastructure required for the true scaling envisioned by project owners and the community alike.
A notable example is Ethereum: it has a vibrant and expansive community, but often leaves users with high fees and congestion on transactions. The Velas blockchain, on the other hand, has shown it can be efficient and has a growing ecosystem spanning various successful projects today.
The recently announced partnership between Velas and GPNFTS is a working demonstration of the power of a collaboration between an NFT project which has tapped a niche and dedicated market, and a blockchain which can provide the scalability required for complete success. GPNFTS founder Ali Rafi, who worked for many years in Formula 1, said:
“Our mission is to give motorsport fans a dedicated marketplace and a new way to engage with their favourite drivers and riders, sharing the excitement of race wins. This is a ground-breaking partnership, as it opens up a whole new market by introducing motorsport fans to a revolutionary new way of collecting incredible digital art.”
To start with, Velas’ industry-leading TPS gives GPNFTS the bedrock upon which to build. With thousands of individual collectible memorabilia, and the anticipation of a very active secondary market, being able to comfortably handle transaction volumes is paramount to smooth operation.
Moreover, as a DPoS (Delegated Proof of Stake) blockchain, Velas provides this functionality at a fractional cost of competing ecosystems, removing a crucial barrier to entry for new users, and encouraging a more liquid secondary market. Shirly Valge, COO of Velas, said:
“The deployment of GPNFTS on the Velas Blockchain is extremely exciting for us….
