Following a seed raise of $5 million, Pastel announces beta launch of the most secure NFT marketplace in existence
Pastel Network, a first-of-its kind decentralized platform that is the only NFT blockchain built specifically for NFTs, launched the beta version of its layer-2 marketplace Tuesday for both desktop and mobile applications. Included in the beta launch is Pastel’s revolutionary Near-Duplicate Detection System, which can be likened to assigning a fingerprint to each NFT, allowing for extremely minute and detailed comparisons between digital assets to prove their rarity.
“NFTs are proliferating at a rapid pace, and it is imperative that creators, collectors, and traders know with certainty that the authenticity of their work and their collections cannot be questioned – particularly as scams and copyright infringement rise,” said Anthony Georgiades, Co-Founder and COO of Pastel. “By building the first ever purpose-built NFT blockchain, we are able to provide this peace of mind on our digital asset marketplace while also offering lightning fast transaction speeds, scalability, and permanently negligible fees, amongst other NFT-specific features.”
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Founded in 2018, the PastelNetwork is revolutionizing the storage and dissemination of digitalart and collectibles across the NFT ecosystem. Built on its very own, purpose-built native blockchain, The Pastelplatform leverages robust algorithms that allow for the distributed storage of every NFT on the network through sharding across network nodes, rather than centralized hosting. Additionally, Pastel’s on-chain storage solution eliminates the need for external dependencies like IPFS and ensures accuracy and secure data provenance for creators and traders alike. Pastel is also committed to keeping registration fees low — always less than $1 USD — by utilizing deflationary mechanics that change the relative amount of PSL being charged during periods of fluctuating network difficulty and activity.
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The beta launch of Pastel’s marketplace comes just weeks after the network announced a $5 million seed raise. The Pastel marketplace intends to remain in beta for four weeks, offering creators and collectors the opportunity to use the platform at no cost. Users wishing to participate in the beta phase can register here and will subsequently receive Pastel’s native token, $PSL, to begin minting NFTs, buying and collecting.
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