Curate x Algorand Partnership
Curate, an all-in-one marketplace, is integrating with Algorand, to enable ALGO as a payment option, as well as mint NFTs on the Algorand blockchain.
Upon completion of the integration, which is expected to be completed by the end of July, users can buy and sell physical and digital goods across gaming, electronics, NFTs, clothing, fashion, and more sectors using ALGO. The platform will be accessible from the Curate app, which allows payments with fiat via credit cards or PayPal, and also with cryptocurrencies.
ALGO is the native token of the Algorand blockchain. It’s a hard-capped, scarce token that is used to pay for fees, secure the platform through consensus participation and enable holders to participate in governance of the blockchain ecosystem.
Curate Going After the Biggest Challenges in eCommerce
eCommerce has been steadily growing over the last few decades. 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.
“The integration with Algorand will enable us to expand our services to a broader user base, while offering additional utility to token holders in the form of exciting DeFi opportunities on the Algorand Bockchain.” said James Hakim, Curate Founder and CEO.
“The Algorand Foundation is excited to welcome Curate to the Algorand ecosystem, enabling the Algorand community to utilise the outstanding functionality of the Curate app, especially with the addition of the ability to mint NFTs on the Algorand blockchain becoming available to Curate users” said Sean Lee, CEO Algorand Foundation.
By expanding to Algorand, Curate will provide users with a near-instant, low fee payment option, while also enabling NFTs to be minted on the Algorand blockchain. Furthermore, Algorand will be interoperable with Curate’s own blockchain, enabling assets to flow between the two networks.
About Curate
Curate is the world’s 1st gasless NFT Marketplace app which provides a fairer and more transparent open marketplace by offering an industry low 4% seller commission. Built on top of Curate’s own agnostic blockchain ‘X-Chain’ making it interoperable with other chains, Curate provides buyers with zero gas fees when they use $XCUR. All buyers and sellers are also rewarded in $XCUR on all transactions.
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