BOAX: a Rising NFT Marketplace

BOAX a Rising NFT Marketplace

Let’s go window shopping in the BOAX NFT marketplace and see all that it has to offer to potential buyers

In the past couple of months, Non-Fungible Tokens (NFTs) have been gaining relevance across the globe. The sales volume of NFTs in 2021 has surged to US$2.5 billion from US$13.7 million in the first quarter of 2020.

NFTs have been gaining tremendous popularity in the past couple of months, to make sense of what an NFT is you can read our article “NFTs And How To Mint Them”. NFTs are stored, displayed, traded and sometimes even created on platforms called NFT marketplaces. Hong Kong-based BOAX is one such popular platform in the NFT scene in Asia.

Here is a closer look at BOAX and their latest NFT collection.

About BOAX and their projects

BOAX is one of the first NFT marketplaces in Asia. Their unique selling point (USP) is that they collaborate with artists, celebrities and virtual influencers to create distinctive-looking NFTs.

The company’s founder Ian Wen is deeply in tune with his Asian heritage. He has a strong interest in Fengshui and Chinese metaphysics. This interest inspired him to create NFTs that feature and promote Chinese art and culture.

The “Olympics Happiness” NFT, image courtesy of BOAX

One of their NFTs that features Chinese elements is the “Olympics Happiness” NFT, as pictured above. The NFT, created by Dr. Dominic Man-Kit Lam and Wen, garnered BOAX significant media attention. It has been sold for US$16,000 to Prince Narithipong Norodom of Cambodia in August this year. The NFT shows the Chinese character for happiness under the Olympic rings. This character turns into a dove to symbolize the artists’ yearning for peace and joy for humankind. 

The company has worked on several other projects with Lam. These include the “Enchanted Time and Space” series, “Voyage of Discovery” series and “Life 2011” to name a few.

Taking the world by storm with RMBits

RMBITs, Image courtesy of BOAX

BOAX is gearing to build on its recent success with an ambitious NFT project called RMBits (pictured above). For the RMBits project, the company has collaborated with the AI firm, IZBLU Lab. The RMBits are MeeBit style voxel art (3D cube art) NFTs inspired by famous Chinese literature characters from stories such as Journey to the West, Romance of the Three Kingdoms and Dream of the Red Chamber. 

There are 12 characters in the RMBits series, each with 888 editions. Each RMBit has its unique characteristics, weapons and costumes. BOAX started the project with the idea of digitally preserving the stories that have been passed down through generations in China. 

Owning an RMBit gives you access to special content. One of the benefits offered by ownership includes the 3D model of the RMBit, which enables you to render and animate them as avatars in the metaverse. RMBits in the series #001-#002 were sold out within 24 hours upon their release in late August. At present, BOAX is in its beta stage.  A version two upgrade of the marketplace will be coming out this month. 

Header image courtesy of freepik.

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