APENFT’s NFT token jumps 25% following Justin Sun’s teaser of inscription marketplace on TRON

The TRON ecosystem will seemingly soon get its own marketplace for inscription tokens developed by APENFT.

In an X post on Mar. 4, TRON founder Justin Sun revealed that the blockchain ecosystem will soon get its own native inscription marketplace for digital tokens.

Sun also revealed that the new venture is being developed by APENFT, a team of blockchain developers focused on investing in non-fungible token (NFT) platforms and artworks. Although specific details and a launch timeline were not disclosed, it’s expected that the project will also integrate support for BTT, BitTorrent’s native token based on the TRC-20 standard.

Following the news, APENFT’s native token NFT soared by 25% to $0.0000006941, a level last seen in June 2022, according to data from CoinMarketCap.

Initially conceived as a means to embed diverse data or content onto a Satoshi, the smallest unit of Bitcoin (BTC), inscriptions have garnered increased attention within the global crypto market. The heightened interest has prompted multiple crypto exchanges to introduce their own marketplaces for inscription tokens. For instance, in early February, Binance announced the launch of the Binance Inscriptions Marketplace, positioning itself to compete with platforms like OKX.