Xfinite Announces Launch of Mzaalo NFT Marketplace

In October 2021, Xfinite, the world's first entertainment ecosystem powered by Algorand, announced the launch of the NFT marketplace "Mzaalo NFT". The Mzaalo NFT marketplace is Xfinite's second use case following the success of the gamified DApp Mzaalo, and will further expand Xfinite's ecosystem. The Mzaalo NFT Marketplace offers a collection of exclusive assets and rare items from movies to music, including some Bollywood treasures that will bring back some nostalgia for NFT collectors.

In the future, spiritual, artistic and sports items will also appear on the Mzaalo NFT market. NFTs on this marketplace are classified into several different tiers such as Common, Rare, Legendary, and Platinum. To determine pricing, the Mzaalo NFT marketplace uses an algorithm that balances sentimental value, popularity, scarcity, and trends. In order to enhance the experience, the Mzaalo NFT marketplace will also welcome creators to create their own NFTs and trade them in the near future. This creates a win-win situation for XET holders as they will be able to acquire Xfinite’s exclusive NFT.

Xfinite aims to build India's largest decentralized NFT marketplace with a focus on intellectual property in the entertainment space. To this end, Xfinite has entered into many valuable partnerships. One of these partners is Eros, which has over 12,000 blockbusters, 100 original films, 4,400 short films, an extensive music library, and 46 releases in 2021 based on new genres.

Ali Hussein, CEO of ErosNow, said: "Supporting our strategy of creating value for the community by providing unique non-fungible assets to the market, our It is exciting that the partnership will reach new heights. ErosNow has a long-term cooperation with the ecosystem built by Xfinite, which will help make Mzaalo even bigger and provide opportunities for expansion of the Mzaalo NFT marketplace, bring more users to the field.”

The Mzaalo NFT marketplace is also partnering with celebrity associations to gain the rights to create, co-create and monetize related NFTs. Xfinite is poised to bring best-in-class NFTs to the Algorand community. Users can purchase these NFTs using Xfinite’s native token, XET, which is listed on MEXC and Bitmart.

Vikram Tanna, Chief Operating Officer of Mzaalo said: "The Mzaalo NFT Marketplace strategically complements Xfinite's ecosystem, offering users, brands and content creators Create value. Our platform is tailored to meet the advantages that digital consumers are looking for, including enhanced engagement, driving community growth and mass adoption. The size of the NFT market exploded to $10.7 billion last quarter, With this new platform, we will once again make Xfinite the most complete and visionary solution for the entertainment blockchain environment.”

Xfinite's ecosystem is powered by Algorand, a blockchain platform that uses the PPoS consensus protocol for faster, more secure transactions, and Runs on sustainable carbon negative technology. Xfinite and the Algorand Foundation have formed a strong partnership aimed at building trust in the digital space through innovation. "Xfinite has gone further than any blockchain-based entertainment solution to build an ecosystem with real-world value," said Sean Ford, Algorand COO. The NFT market provides effective contributions.”

About Xfinite

Xfinite is a blockchain-based platform that aims to rebuild trust between consumers, content creators and publishers. Xfinite’s utility token and its ecosystem’s native currency, XET, are listed on Bitmart and MEXC. The Xfinite ecosystem helps the media and entertainment industry fight ad fraud by increasing transparency and creating new habits of engagement. The first use case for Xfinite is the DApp Mzaalo, a decentralized video-on-demand application, available on iOS, Android, and the web. Mzaalo offers users access to 12,000 movies, including original content and live TV.

Xfinite has entered into partnerships with many companies worldwide to drive innovation and create new use cases for blockchain technology. Xfinite's latest partnerships include Josh, India's largest short-form video app with 115 million users, Dailyhunt with 280 million users, SpiceJet, which transports more than 60 million passengers a year across India, and Eros Now, with 216 million users.

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