Following the announcement that it will power Coinbase's (COIN) non-fungible token (NFT) marketplace, 0x (ZRX), the native token powering the <a href="https://www.cryptoknowmics.com/glossary#0x-protocol-">0x protocol</a>, has risen by more than 47 percent. ZRX is now trading at a five-month high of $1.09, approaching a market valuation of $1 billion. The amount of money traded in the last 24 hours has increased by more than 3,000 per cent to $1.25 billion, the highest level since February 2021.

https://twitter.com/0xProject/status/1516862939071860740

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According to the company, the "strong multi-chain NFT swap capability" of the 0x protocol and up to 54 per cent better gas efficiency will be used by Coinbase's NFT platform. Coinbase NFT will be able to compensate creators with fast royalties and free, non-custodial listings thanks to the protocol.

0x Labs developed a decentralized open-source exchange (DEX) protocol.

It was first launched on Ethereum and now works with an increasing variety of blockchains, including Polygon, BNB Chain, Avalanche, and Fantom, to enable peer-to-peer tokenized asset exchanges.

Earlier this year, it released version 4 of its protocol, allowing projects to enable swaps between NFTs. NFT swaps, like traditional token swaps, would enable users to exchange one digital item for another.

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 After Coinbase NFT Partnership 0x Protocol's Token Increased Over 47 Percent

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After Coinbase NFT Partnership 0x Protocol's Token Increased Over 47 Percent

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