What Is NovaNFT Crypto? Exploring the Platform Powering Encrypted NFT Trading

NovaNFT emerged as a self-described “trusted Web3 NFT marketplace” that aims to revolutionize NFT trading through multi-incentive models and algorithmic trading systems. 

Promoted under the tagline “Earn rewards through NFT trading on NOVA”, the platform quickly caught the attention of users looking for new decentralized opportunities in 2025.

However, deeper research and recent community reports have raised significant concerns about the legitimacy of the project. 

NovaNFT’s ties to the now-defunct TreasureNFT marketplace and the spread of fake investment news involving BlackRock have created uncertainty. 

While the project presents itself as an innovation in NFT technology, users are advised to proceed with caution before engaging with the platform.

What is NovaNFT?

According to the official website novanft.xyz, NovaNFT is a blockchain-based NFT trading platform that integrates encrypted asset technology and offers a multi-incentive reward system for both traders and referrers.

The platform’s marketing emphasizes:

• Algorithmic trading modes designed to optimize NFT liquidity.
   
• Referral incentives for community-driven growth.
   
• A reward-based ecosystem meant to increase engagement and attract new users.
   

NovaNFT also promotes itself as a “trusted Web3 marketplace” where users can trade NFTs safely while earning passive income. Yet, despite these promises, no verifiable technical documentation, team details, or on-chain audit reports have been provided publicly.

Read Also: Treasure NFT App: Review and How to Use It

The TreasureNFT Connection

Upon closer inspection, NovaNFT’s background reveals links to TreasureNFT, a previous marketplace that has shut down operations. 

TreasureNFT was described as an encrypted NFT marketplace offering algorithmic trading models and artist-fan engagement systems.

The Nova NFT Technology company, which reportedly runs the platform, describes itself as “an unfunded blockchain company founded in 2025.” 

However, this is problematic — especially since TreasureNFT, its predecessor, ceased functioning and no formal explanation or user refund process was published.

This overlap suggests that NovaNFT may be an attempt to rebrand or relaunch the earlier TreasureNFT ecosystem under a new name, potentially to regain credibility or attract unsuspecting new users.

Read Also: This is Treasure NFT Official Website

Fake BlackRock Investment Claims

Recently, a series of false online posts circulated across crypto communities, claiming that BlackRock — one of the world’s largest asset management firms — had made a “strategic investment” in TreasureNFT.

This information is completely untrue. BlackRock has publicly confirmed no association or partnership with TreasureNFT or NovaNFT. These fabricated announcements were likely part of a misinformation campaign to artificially build trust around the project.

Such fake affiliations are common in crypto scams and serve as red flags for investors. When a project attempts to link itself to reputable institutions without evidence, it often signals manipulative marketing tactics.

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Why Caution Is Strongly Advised

While NovaNFT presents itself as a decentralized innovation in NFT trading, the lack of transparent documentation, public team information, and audit records raises substantial red flags. Combined with:

• its association with a shut-down platform (TreasureNFT),
• unverified claims about partnerships, and
• no verifiable trading volume or token data,

it becomes clear that NovaNFT could pose risks for users depositing funds or connecting wallets.

Crypto investors and NFT collectors should always:

• Verify contract addresses before making transactions.
• Avoid connecting wallets to unverified marketplaces.
• Research company backgrounds and cross-check information through reliable blockchain data aggregators like CoinMarketCap or CoinGecko.

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Read Also: Token Withdrawal is Ongoing! Is TreasureNFT Finally Giving Access to Users Funds?

Conclusion

NovaNFT markets itself as a next-generation NFT marketplace with multi-incentive trading features. 

However, with its direct connection to the defunct TreasureNFT, absence of verifiable team details, and false investment claims involving BlackRock, the platform currently raises serious trust and safety concerns.

Until clear evidence of legitimate operations or transparent development emerges, users should proceed with extreme caution and avoid making financial commitments on NovaNFT.

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FAQ

Is NovaNFT a legitimate NFT marketplace?

At this stage, legitimacy cannot be confirmed. The platform’s lack of transparency and its link to the shut-down TreasureNFT raise doubts about its trustworthiness.

Did BlackRock invest in NovaNFT or TreasureNFT?

No. BlackRock has no connection to NovaNFT or TreasureNFT. Recent posts claiming such partnerships are fake news.

Is it safe to connect a wallet to NovaNFT?

Users are strongly advised not to connect wallets to the site until it is verified as legitimate by trusted sources.

Who owns NovaNFT?

The platform claims to be run by Nova NFT Technology, a non-funded company founded in 2025, but no verifiable team members or corporate registrations have been disclosed.

What should investors do if they already interacted with NovaNFT?

If you have already connected your wallet or made transactions, revoke permissions using blockchain security tools (like Revoke.cash) and monitor your wallet for unusual activity.