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The NFTs Revolution: LuxFi Is Launching Asset-Backed NFT Marketplace for Luxury Assets

LuxFi’s NFT Marketplace

LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. LuxFi will launch a platform that assists consumers in overcoming existing problems and creating a sustainable luxury market ecosystem. The world’s first asset-backed NFT marketplace, for luxury assets, is now available. It integrates with advanced technologies that allow for permanent traceability, authentication, and asset transferability.

With this marketplace, LuxFi is able to establish an ecosystem for buyers and sellers. LuxFi works directly with manufacturers and brands to enable people to sell, buy and invest in luxury assets. All transactions are verified by professionals in the network. The new owners do not have to redeem the products in order to resell them. However, their luxury asset-backed NFTs are able to be used as collateral for loans or sent and transferred on different platforms, such as live streaming and games. The physical items can be redeemed by new owners in the real world.

LuxFi’s innovative platform goes beyond solving the pain points previously mentioned, it provides consumers with an alternative method to invest and potentially assist those who otherwise have difficulty accessing loan banking services to get financing services.

LuxFi also collects data from global online and offline sales channels, and social media platforms for luxury assets. To provide accurate pricing for each NFT, the data is analysed and compared to global trends.

A consumption item that was once viewed as mere satisfaction for consumers to splurge on, now possesses the ability to be transformed into assets that are not only valuable but also investible. The launch of LuxFi NFT marketplace will be a big deal and will revolutionize the luxury sector through the innovative use blockchain technology.

LuxFi is on its path to transform the luxury industry for a brighter future. Follow LuxFi on social media to learn more about its progress and future plans.

You May Win a Rolex with 0. 01ETH – LuxFi’s NFTs Auction & Lottery on 26th Sep

LuxFi is grateful for all the genuine support that their community has given to them. To celebrate their upcoming launch of their NFT marketplace, LuxFi is going to hold its Auction & Lottery on 26th Sep at 10: 00AM UTC to 3rd Oct at 10: 00AM. Each 0. 01ETH, the participant will get 1 Lottery Ticket to get a chance to be a winner of the top prize, a Rolex watch NFT!

Non-Fungible Tokens

Non-fungible tokens (NFTs), a form of token that provides the ability to tokenize assets online through a certificate of ownership, has inspired luxury brands and their recent evolutions. NFTs are a way for buyers and sellers to securely buy, sell, and invest in luxury assets.

Blockchain is the missing piece in the luxury market puzzle, it allows for the creation of physical-to-digital links between goods and their digital identities. The physical identifier of the product is the serial number or seal. Brands are betting on this digital identity, and experts believe blockchain will make a significant impact on that micro-scale. LuxFi’s professional retailers network will be key to ensuring that luxury brands are authenticated at the very beginning of manufacturing. They also act as verifiers for any existing luxury assets on the market. They can sell products that are linked to digital identities. This fosters trust between the customer and the brand, as well as improving the customer-brand relationship.

Using blockchain technology the entire lifecycle of any product can be monitored and tracked with a decentralized, tamper-proof digital ledger, all while maintaining the owner’s privacy and security.

Aidaa Wong, CEO and Founder of LuxFi said: “New technologies are unlocking limitless possibilities in the luxury market. LuxFi’s CEO and Founder, Aidaa Wong stated that our goal is to create the first asset-backed NFT market for luxury assets. The industry is moving towards a more positive, sustainable environment. Blockchain technology is a significant milestone in many industries. Today, blockchain is the new black on the luxury market. Our NFT marketplace will allow people to use cryptocurrency to purchase, sell, and invest in authentic luxury assets. Our NFTs are backed by real world data. We are looking forward to exploring further the multiple possibilities of what our luxury asset-backed NFTs, blockchain-based data intelligence system and ecosystem could offer. This is a revolutionary time in the way we consume luxury assets!”

About LuxFi

LuxFi is the world’s first luxury asset-backed NFT marketplace, leveraging on a big data intelligence system and unique algorithm for automated data collecting and data processing. LuxFi prevents counterfeiting by minting NFTs on multi-chain blockchain networks. They also provide accurate NFT pricing that’s backed up with real-world data. IDO will take place on October 6, 2021.

Media Contacts

Website: https://www.luxfi.io

Twitter: https://twitter.com/luxfiofficial

Telegram Official Group: https://t.me/Luxfiofficial

Telegram Announcement Channel: https://t.me/luxfinews

Medium: https://luxfiofficial.medium.com

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to purchase or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”