Coinsilium Group Limited, the blockchain and open finance venture builder, says its non-fungible token (NFT) marketplace is set for its public beta launch in the middle of next month (December), with smart contracts being deployed on the blockchain mainnet.

A blockchain mainnet is an independent blockchain running its own network with its own technology and protocol.

The marketplace is being designed and built by Coinsilium’s wholly owned subsidiary Nifty Labs, an NFT technology development studio based in Gibraltar, in partnership with portfolio company Indorse.

Initially, the marketplace will be compatible with two accepted NFT standards, with compatibility with broader standards expected in the first quarter of 2022.

Eddy Travia, chief executive officer of Coinsilium said, “We are delighted to be able to announce the forthcoming launch of the public beta version of the Nifty Labs NFT Marketplace.”

“The pace of build that has been achieved is a testimony to the execution capabilities of our technical partners at Indorse as we expect them to deliver a working platform well within budget.”

Originally designed to show ownership of a digital item, such as art, increasingly NFTs themselves have become extremely valuable, with popular pieces often selling in the millions of pounds.

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