Exchange.art now accepts SPL (Solana Program Library) Tokens by giving creators the option to be paid with crypto from the Solana ecosystem.
It has been reported that this new integration provides artists with greater control over their income and opens up new opportunities for monetization. This gives creators more flexibility in terms of pricing, as well as protection from price volatility in the crypto market.
However, this new integration also helps Exchange.art expand its reach and appeal to more users, as it now supports multiple payment options. The NFT marketplace now accepts stable coins like USDC, as well as alt coins like Bonk. Bonk became known as the Solana doge coin, mimicking famous alt coin Dogecoin.
The report said that SPL tokens are a type of cryptocurrency developed by Solana and used within their network. User buy goods and services with them, while getting rewards for using the network. Exchange.art exemplifies their use to buy NFTs on the Solana network. These tokens can also pay transaction fees within the network, allowing users to transfer funds quickly and securely.
Likewise, SPL tokens also facilitate staking, which is a process to lock tokens in exchange for additional rewards. This means that holders of SPL tokens can capitalize on their holdings, while also helping to secure the network. With Exchange.art accepting SPL tokens, we now see a further push of these tokens in the Solana ecosystem.
The integration of SPL tokens on Exchange.art now gives creators a new choice on how to monetize their work and opens new opportunities for them to earn from the Solana ecosystem. With this integration, Exchange.art is now able to offer creators, and newcomer Solana NFT collectors, greater flexibility in terms of pricing and protection from price volatility in the crypto market.
Thus, the marketplace is also able to support multiple payment options, further growing its appeal to more users, just like other NFT marketplaces.
Source: NFT Evening