PARASWAP ANNOUNCED THE LAUNCH OF THE FIRST PEER-TO-PEER NFT TRADING ON APPLE’S APP STORE
ParaSwap, a decentralized exchange (DEX) aggregator, announced Monday the launch of the first peer-to-peer non-fungible token (NFT) trading app on Apple’s App Store.
Sellers can use the app to make special orders for their NFTs, which they can send straight to purchasers. Both parties would be able to transact in their choice token using ParaSwap’s DEX engine on the backend.
The app uses the ramp as a fiat on-ramp, which has its own native wallet. As a promotion, the app will have no trading fees for the first three weeks (or until $500,000 is spent), with non-Ethereum gas fees on the platform being permanently repaid.
“ParaSwap first started in the middle of the bear market in summer 2019, so for us, we’re always shooting features regardless of market conditions,” Mounir Benchemled, founder of ParaSwap, told CoinDesk in an interview. “There is nothing like this product in terms of the privacy it offers in the NFT space.”
Apple (AAPL) takes a 30% share of all in-app purchases, including digital goods sales. Therefore popular NFT marketplaces have largely resisted transferring their company to the App Store.
According to Benchemled, ParaSwap falls into a separate category from a marketplace because it is a token exchange for NFTs rather than a marketplace.
The app will be available to 10,000 beta testers who will not be obliged to purchase or stake the company’s PSP token, which will decide their position based on social media involvement.
In September 2020, the France-based startup raised $2.7 million in a seed round headed by Blockchain Capital, Alameda Research, and Arrington XRP Capital.
