ZRX has surged by over 47% to trade at $1.09 after 0x protocol partnered with cryptocurrency exchange Coinbase’s NFT marketplace.
The token has also recorded rising trading volumes by more than 3,000% in the past 24 hours to about $1.25 billion, the largest jump since February last year.
Coinbase says that its NFT marketplace would use the 0x platform, terming it a powerful multi-chain NFT swap support and a high gas efficiency of about 54%. The partnership will also see Coinbase NFT reward creators with instant royalties and free non-custodial listings.
The co-founder and Chief Executive Officer of 0x Labs, Will Warren, welcomes the partnership as an opportunity to unlock new users in the blockchain sector.
Coinbase’s Vice President of Product, Sanchan Saxena, maintains that Coinbase NFT will be a platform that allows creators and collectors to build and engage their audience.