CommPRO Editorial Staff
Gilded, a provider of blockchain financial reporting software, has announced NFTOPS: the first and only solution for NFT marketplaces to track and analyze financial data.
NFTs are the hottest emerging asset class, reaching a record-high transaction volume of $10.7 billion in Q3 2021, up 700% from the previous quarter. While NFT marketplaces are recording historic profits, the unique complexity of NFT transactions — royalties, revenue splits, multiple payment channels — is a challenge for rapidly scaling platforms.
That’s why Gilded is launching NFTOPS: a one-stop reporting solution for NFT marketplaces, enabling finance and growth teams to measure performance, track royalties, and produce comprehensive financial statements for rights holders, artists, and collectors. NFTOPS is launching in collaboration with initial marketplace partners including Draftly, Culture Vault, Iconic Moments, Swappable, Mint Gold Dust, and Nifty’s.
Gilded NFT partner cocoNFT — an upcoming platform for tokenizing Instagram posts — will be using NFTOPS to manage their finances. “When we made the decision to build an NFT platform, our primary vision was to empower creators with blockchain technology. But from a business standpoint, we recognize the importance of accurate, complete financial information for both our company and our users,” said Reid Robinson, CEO and co-founder of cocoNFT. “On-chain data is a minefield. With NFTOPS in our arsenal, we couldn’t be more excited for our launch.”
Data transparency has never been more critical, especially in high-growth industries with ever-changing regulatory landscapes. With stricter reporting requirements looming, platforms that make the leap to a compliance-first mindset will gain a competitive advantage.
“It’s increasingly clear that everything of value will be tokenized. NFT marketplaces and their users need robust financial reporting, performance analysis, and the peace of mind that they are compliance-ready,” said Gil Hildebrand, Gilded CEO. “We empower NFT platforms to do it all: focusing on innovation while providing the financial insights that marketplace participants demand. We’re proud to present NFTOPS as the first solution of its kind.”
Source: Blockchain Wire