Awarded Grant to Develop an NFT Service for Social Art Platforms Awarded Grant to Develop an NFT Service for Social Art Platforms


Algorand Foundation

October 5th, 2021 - Having launched the Algorand Foundation Grant Program last year, we have received many submissions from developers and innovators globally who have been eager to participate and grow the Algorand ecosystem. After thorough review and selection, we are delighted to announce that is the latest Grant recipient. have been awarded a grant to create an NFT service for social art platforms, offering their artists the ability to sell digital assets with low transaction fees and commissions. have chosen Algorand as it provides the best technology platform for creating NFT tokens. will be a great addition to the Algorand ecosystem and their users will benefit from the high transaction speed, finality and scalability enjoyed on Algorand, making minting of NFT’s affordable on a secure and reliable blockchain that is guaranteed not to fork. Importantly, the Algorand blockchain has also been designed to be a uniquely sustainable blockchain network and is already running as a carbon negative network. By creating NFTs on Algorand, artists can be sure in the knowledge that their work is not negatively impacting the environment or unnecessary energy consumption.

The KNFTs onboarding experience will be simple and easy with users receiving a wallet with Algos they are free to take control of. This enables a huge creation of value, and a direct value capture by those who are responsible for driving the digital art ecosystem: artists, fans and platforms. will also create a Wallet app that will improve the experience of collecting digital art. Algorand NFTs will be supported from the start, with support for selected, eco-friendly NFT tokens following. Initial features will include managing your personal collection, browsing NFT meta-data and a customized viewing experience for NFTs.

''We're delighted to support Kollektor’s grant application” said Addie Wagenkneckt of the Algorand Foundation. Algorand’s Layer-1 blockchain is scalable, secure, fast, final, low cost and sustainable - making it an ideal platform for NFTs and our partnership with Kollektor. This grant partnership with will help raise the awareness of Algorand as the blockchain of choice for NFT’s, and provides a great use-case for using Algorand in the art and modelling space.''

Algorand Foundation is proud to support this project with funding through the Algorand Foundation Grant program. For more information on Kollektor and ChainStep, please visit and

If you are interested in submitting a project for support from the Algorand Foundation Grant program, please apply here.

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