NFTs have experienced tremendous popularity in recent months as superfans flock to opportunities to buy the rights for their favorite art, baseball cards, real estate, fashion, etc. This popularity hasn’t been limited only to those familiar with crypto; mainstream audiences are also vying to get their hands on an NFT, without even knowing what an NFT actually is.
NBA Top Shot generated over $230M in just February, Kings Of Leon offered their new album as an NFT and Christies’ auctioned Beeple’s Everydays artwork for over $69M — these are just a few events that highlight the meteoric rise of NFTs in the past few months.
The NFT space isn’t new for Circle. As the payments provider for companies like Dapper Labs, Circle has been in the middle of all the action, helping power the payments for popular marketplaces like CryptoKitties. As we continue to foster the growth of the NFT market, Circle is excited to sponsor NFT Hack by ETH Global this coming weekend where close to 600 creatives and engineers will come together (virtually) to build exciting NFT projects.
We will be awarding a total of 5,000 USDC to the projects building the best payments experience for their NFT marketplace using Circle’s APIs. With Circle’s payments and treasury infrastructure, NFT marketplaces and storefronts can create seamless user experiences for buyers and sellers alike.
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle’s platform has supported over 100 million transactions worth tens of billions of dollars, with nearly 10 million retail customers, over a thousand businesses, while storing and securing more than $5 billion in digital currency assets. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully-reserved stablecoin. USDC now stands at a $9 billion market cap and is adding nearly $300 million net new digital dollars in circulation every week. Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce.