Will PancakeSwap’s NFT Market Send Cryptocurrency $ CAKE To Heaven?

The PancakeSwap (PCS) team just announced on Twitter that the platform will soon be ready to launch its long-awaited NFT market. The PCS ecosystem continues to grow and the Dapp does not want to lose the hype around NFTs. Good news for the CAKE token?

The rabbit is still wearing a new cap.

is the most used Dapp and the best known of Binance Smart Chain (BSC). The DeFi PancakeSwap platform is a decentralized exchange (DEX) that uses an Automated Market Maker (AMM). There is also the option of farmer and of that stacksin addition to the opportunity to participate ICO or to play lottery with CAKE and BNB.

All that was missing from the platform was an NFT market, and therefore it will be done in a very short time:

“We aim to launch the first version of the #PancakeSwap NFT market and the #PancakeSquad NFTs on September 22nd. All NFT and #PancakeSquad market fees will be used to redeem and burn $ CAKE
I’m not going to lie, I’m very excited. You too? “

PancakeSwap official account at Twitter

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YES ! It will take CAKE for NFT’s MINT!

For those who have not yet entered body and soul the incredible universe of NFTs, “MINT” stands for “Hit” just as we would say in French “Hit the currency”. It is therefore the process through which a digital artifact (photo, music, video, .GIF etc.) becomes part of the blockchain. In this case, here is the blockchain on the initiative of Binance, the Binance Smart Chain.

It is important to understand that every NFT has a signature that cannot be impersonated, it is therefore impossible to duplicate it.

This is’a feature much requested by BSC userswhich does not have still no NFT market worthy of the name. In fact, there are few applications for NFT trading, but nothing comparable to the incredible market oforpenSea on Ethereum, which is a global secondary market for all NFT resellers.

The team’s second Tweet was as successful as the first:

It will in fact be necessary to pay the commissions in tokens CAKE (the platform’s governance token) to be able to mint its NFTs on the market (the exact price has not yet been communicated). Furthermore, PancakeSwap has already announced that all CAKE tokens, used to mint NFTs, will be burned and withdrawn from circulation, with the aim of mechanically limiting the supply in circulation.

It is therefore a great news for all fans of the NFT collection from all over the world, but also and above all for the owners of CAKES.

We still know very little about this new feature, but it will undoubtedly be a great success considering the daily volume of the application, which far surpasses all its competitors on the BSC. Plus, PancakeSwap isn’t the only one wanting to take advantage of the hype around NFTs. ICP crypto project recently offered 10,000 free NFTs! Don’t wait any longer to take advantage of this great gift!

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