eCommerce has been steadily growing over the last years. Merchants have been enjoying increased exposure to customers thanks to online platforms that offer a one-stop shopping experience.
However, the bigger the platform, the bigger the fees merchants have to pay. Curate wants to solve that via its marketplace that charges a flat 4% fee, 1% of which is distributed back to buyers and sellers as crypto-cashback.
We are excited to announce that Elrond will integrate with Curate to enable eGold payments, as well as mint NFTs on the Elrond blockchain!
“Curate is a great example of how blockchain technology and great design can challenge the status quo in established industries. We are eager to contribute the Elrond Network scalability and efficiency to drive eCommerce innovation.” said Beniamin Mincu, Elrond CEO.
Curate is building an all-in-one marketplace to buy and sell physical and digital goods such as gaming, electronics, NFTs, clothing, fashion, and more. The platform will be accessible from the Curate app, which allows payments with fiat via credit cards or PayPal, and also with cryptocurrencies.
The collaboration will focus on enabling eGold payments in the platform. The app will also allow NFTs to be minted on the Elrond blockchain. Furthermore, our mainnet will be interoperable with Curate’s own PoS blockchain X-Chain, which will allow assets to flow between the two networks.
“The collaboration with the Elrond Network will enable us expand our services to a broader user base and offer additional utility to our token holders in the form of exciting DeFi opportunities on the Maiar Exchange.” said James Hakim, Curate Founder and CEO.
The collaboration is important for the Elrond ecosystem as it deploys important NFT use cases, expands the amounts of ESDT tokens on our mainnet, and expands DeFi opportunities while offering eGold holders additional utility through an innovative eCommerce platform.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Curate is the worlds first all in one marketplace app that uses blockchain technology as a payment infrastructure and rewards buyers/sellers on all transactions. The marketplace is centered around the theme of content discovery on fashion, gaming, NFT’s, and much more. XCUR is the native token of Curate which provides zero gas fees when used for purchases.