The Alpha Version of the “CoinBurp DeFi” NFT Wallet is now live on Android and iOS, receiving five stars after launching on March 22nd.
Located in the UK, CoinBurp is the leading crypto trading platform, according to Trustpilot. The CoinBurp team is advised by Iqbal Gandham—the former CRO of eToro executive, and Sebastien Borget—the co-founder of Sandbox.Game.
Improving NFT Accessibility
Through the wallet, CoinBurp aims to make Non-Fungible Tokens (NFTs) and DeFi accessible to everyone. They are presenting a practical solution for buying and storing NFTs using Crypto or Fiat. CoinBurp’s partnerships with Sandbox.game, Avastars and NFT Boxes means that users will be able to win exclusive NFTs made specifically for CoinBurp through the platform and the raffle system.
Unlike ordinary tokens, NFTs are unique and non-interchangeable.
The success of NFTs is founded on the explosion of DeFi, especially in legacy platforms like Ethereum. According to trackers, there is over $49 billion in TVL amongst different protocols. However, this value could further rise since DeFi continues to be intertwined with NFTs.
This resurgence is due to a rise in adoption from major auction houses like Christie’s, interest from celebrities like the Weeknd, and the increasing asset tokenisation rate.
According to Nonfungible, over 111.7kk NFTs were sold in the last month alone. This generated $305.9 million in revenue from the 77.3k direct sales and over 37.8k resales, highlighting NFT’s growing significance and its potential over the long term.
NFTs depend on the blockchain for provenance and help cut out intermediaries, democratising art, and increasing profit margins for creatives worldwide.
CoinBurp is Bridging CeFi with DeFi
The CoinBurp DeFi wallet allows users to buy NFTs from marketplaces in a non-custodial manner directly.
At the same time, token holders would securely store and even send their assets to third parties without seeking approvals. Also, holders of $BURP, the native utility and governance token of CoinBurp, can stake through the wallet to earn impressive APYs and many other perks.
CoinBurp creators are aware of present headwinds plaguing DeFi and, by extension, NFTs. Some of these challenges include security concerns, complex interfaces, and difficulty importing tokens from different wallets.
The project wants to reshape ownership by bridging the best of centralised finance to the potential of NFTs.
As such, for seamless NFT purchases, CoinBurp has integrated several mainstream non-custodial wallets like MetaMask. As a result, users can easily import their crypto token of choice using their private keys. Users will also soon be able to purchase crypto-collectibles such as CryptoKitties directly.
CoinBurp Partners and Roadmap
Presently, CoinBurp users can store Ethereum and send Ethereum-based tokens, import their existing wallets such as Metamask, and access different digital artwork.
CoinBurp also plans to integrate with OpenSea—one of the leading NFT marketplaces.
CoinBurp will also add a raffle system where ticket holders, belonging to their rapidly growing ecosystem, can win rare NFTs.
In Q2 2021, CoinBurp will integrate GBP and EUR support. With this, users can buy and sell NFTs directly from their bank accounts. Simultaneously, there is a $100 million insurance cover for the CoinBurp crypto app, though this does not include the DeFi and NFT aspects.
CoinBurp plans to extend to more NFT platforms by the end of the year. On top of this, they hope to integrate with popular games, digital art galleries, auction houses, add multi-chain support and add more DeFi protocols that users can use flawlessly.