bitsCrunch, a blockchain and non-fungible token (NFT)-based platform, has announced the release of its whitepaper and provides an update on latest developments in the industry. Reportedly, the whitepaper outlines bitsCrunch’s vision for NFTs and introduces concepts for the market.
According to an official release, the whitepaper, titled “bitsCrunch network – A Decentralised Enriched NFT Data Network,” delves into challenges faced by NFT industry and presents solutions to address issues such as wash trading. It’s believed that bitsCrunch highlights impact of these issues and offers strategies to mitigate their effects.
Moreover, bitsCrunch is believed to have presented a report titled “How the Year 2023 Could be a Turning Point for NFT Wash Trading,” which provides an analysis of wash trading practices in NFT market and examines implications for investors and the ecosystem.
“I believe the release of our whitepaper and wash trade report marks a milestone for bitsCrunch and the NFT industry as a whole,” Vijay Pravin Maharajan, founder and CEO, bitsCrunch, said.
Follow us on Twitter, Facebook, LinkedIn