APENFT’s NFT Token Surges 25% After Justin Sun Teases Inscription Marketplace on TRON

APENFT’s NFT Token Surges 25% After Justin Sun Teases Inscription Marketplace on TRON

The TRON ecosystem appears poised to introduce its own marketplace for inscription tokens, courtesy of APENFT.

In a recent announcement on Mar. 4, TRON’s founder, Justin Sun, unveiled plans for the blockchain ecosystem to launch its native inscription marketplace for digital tokens.

This upcoming venture is being developed by APENFT, a team of blockchain developers specializing in investments in non-fungible token (NFT) platforms and artworks. While specific details and a launch timeline were not disclosed, it’s anticipated that the project will also incorporate support for BTT, BitTorrent’s native token based on the TRC-20 standard.

In response to the news, APENFT’s native token, NFT, experienced a notable surge of 25% to $0.0000006941. This level hasn’t been seen since June 2022, according to data from CoinMarketCap.

Initially conceived as a means to embed diverse data or content onto a Satoshi, the smallest unit of Bitcoin (BTC), inscriptions have garnered increased attention within the global crypto market. This heightened interest has prompted several crypto exchanges to introduce their own marketplaces for inscription tokens. For example, in early February, Binance announced the launch of the Binance Inscriptions Marketplace, positioning itself to compete with platforms like OKX.

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