KEY POINTS

  • Dating app Katch to enter NFT space by December
  • Katch becomes first to enter the NFT space in video dating
  • Many companies are leveraging NFT use to speed up growth 

Amid the increasing craze for digital assets, dating app Katch has announced that it will integrate Non-Fungible Tokens (NFTs) on its platform by mid-December, making it the first in the field to do so. 

NFTs will be used to "navigate towards creating the dating experience into the metaverse," the company said in a statement. 

Within the dating network, members will have their pictures and videos converted into animated NFTs on the OpenSea platform, the company said. 

The company says these NFTs can be bought and swapped, much like you like a picture on social media. But members will "receive the money from the sale of the NFT as well as 10% on all resales of that NFT thereafter," the release explained. 

CEO Paul Numan called NFTs, a "perfect mix of entertainment and financial value" as he said that it will help members in engaging with other members in a socializing way. 

"We envision that many from the cryptocurrency community will jump onto this trend as Katch is the first dating service in the world to offer a real offering in this space," he continued. 

As the NFT trend continues, many companies are diving into the blockchain space to grow and innovate further. However, the volatility of the market continues to be a challenge for investors. 

What is Metaverse and How is It the Next Big Thing in Crypto? What is Metaverse and How is It the Next Big Thing in Crypto? Photo: Pixabay