Monex’s Coincheck Starts Offering Its Art Blocks

Japanese crypto exchange, Coincheck, which is owned by the Monex Group, announced that its NFT marketplace, Coincheck NFT has started offering the generative art NFT "Art Blocks" on May 19, 2022.

Art Blocks is an NFT market-place that provides on generative art NFT that could be designed and created only by a mix of art and blockchain technology. When a user purchases a piece of artwork, the design, the colors, and the background of the work are randomly picked based on a specified algorithm, generating a distinctive artwork. This unique artwork, which is created automatically, has attracted the attention of creators and collectors alike.

Coincheck NFT is the first NFT marketplace in Japan operated by a crypto asset exchange that allows users to exchange NFTs and crypto assets. Starting with "Art Blocks," Coincheck plans to offer a variety of NFTs of generative art, which is gaining attention as a new type of artworks. In addition to art, Coincheck NFT will expand its offerings to a wide range of fields, including games, sports, and fashion.

NFT market has grown substantially since the start of 2020. This week, digital asset custody platform Fireblocks has launched a new web3 platform, with a suite of tools for developers to build DeFi, GameFi and NFT products and services.