Coinsilium sees key milestone as Nifty Labs launches NFT minter

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Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) said its subsidiary Nifty Labs and investee-company Indorse launched the NFT Minter technology onto the RSK Blockchain Mainnet.


The minter, which creates NFT assets, is a core component of Nifty Labs’ NFT Marketplace which continues to be developed. Its first NFT creation is a portrait of Diego Gutierrez Zaldivar, chief executive of IOV Labs, to mark his induction in the Crypto Hall of Fame, in June 2021.


“We are very pleased to see the progress in what is Nifty Labs’ first major undertaking,” said Eddy Travia, Coinsilium chief executive.


“The deployment of the NFT Minter on the RSK mainnet, alongside its first minting, is a key milestone in the development of the marketplace.


“We believe that Nifty Labs’ solutions, such as the minter, will trigger a wave of creativity in the RSK-enabled ‘NFT on Bitcoin’ space and we look forward to seeing a surge of activity by artists and collectors in this new NFT ecosystem.”


Coinsilium noted that the development of the wider NFT marketplace project continues to progress well, with overall completion on track and anticipated to be within the initial six-month timeframe.


It also noted that the development of a token bridge by IOV Lab’s RSK – designed to allow RSK blockchain standard NFTs to other blockchain standard NFTs, including the Ethereum ERC721 standard – is progressing well, with a test phase slated to start this week.


IOV bought shares in Coinsilium through an investment agreement in December 2020, alongside a partnership agreement between the companies.

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