👋 Hello Nimbus Community,
The development roadmap and strategic planning of the Nimbus Platform have evolved significantly over time. One of our key goals in 2022 is to accelerate the project growth by actively bootstrapping a community that truly believes in the project’s vision and prospers while doing so.
Hence, the roadmap and each reward are designed to incentivize long-term protocol holders to create a flywheel where utility and incentives drive long-term participation, which further drives utility and attracts even more incentives.
Nimbus token stability is one of the many parts of this new chapter aimed at accelerating protocol growth. In the spirit of that sentiment, we’re happy to announce that Nimbus Affiliate program V3.1 is to be updated to version 4.0 very soon, i.e. within one month. Here are 4 steps underlying the Nimbus Affiliate program that will help in promoting the stability of NBU and GNBU tokens:
✅ The Hard Staking period for the Nimbus Affiliate Program will be modified to 90 and 365 days
✅ Three rewards to Affiliate Program stakers will now accrue in NFT tokens, which will remain vested in the platform's liquidity pools for 90 or 365 days depending on the chosen staking pool
✔️One time Airdrop bonus will be distributed as Smart Staker NFT
✔️10% Staking amount given to users who join using referral links will be distributed in NFT tokens
✔️12% cashback will be distributed as Smart LP n-NFT
What does that mean for the community?
Users who truly believe in the Nimbus Platform vision can reap more rewards for their loyalty by participating in the Nimbus Affiliate Program 4.0. This long-term incentives relationship between the protocol and the users promotes Nimbus token stability.
We're constantly working to push forward, and the Affiliate Program 4.0 is one of the steps to help improve the project's performance and ensure benefits for the Community. More details on the AP 4.0 will be published soon, so, stay tuned 😉
The development roadmap and strategic planning of the Nimbus Platform have evolved significantly over time. One of our key goals in 2022 is to accelerate the project growth by actively bootstrapping a community that truly believes in the project’s vision and prospers while doing so.
Hence, the roadmap and each reward are designed to incentivize long-term protocol holders to create a flywheel where utility and incentives drive long-term participation, which further drives utility and attracts even more incentives.
Nimbus token stability is one of the many parts of this new chapter aimed at accelerating protocol growth. In the spirit of that sentiment, we’re happy to announce that Nimbus Affiliate program V3.1 is to be updated to version 4.0 very soon, i.e. within one month. Here are 4 steps underlying the Nimbus Affiliate program that will help in promoting the stability of NBU and GNBU tokens:
✅ The Hard Staking period for the Nimbus Affiliate Program will be modified to 90 and 365 days
✅ Three rewards to Affiliate Program stakers will now accrue in NFT tokens, which will remain vested in the platform's liquidity pools for 90 or 365 days depending on the chosen staking pool
✔️One time Airdrop bonus will be distributed as Smart Staker NFT
✔️10% Staking amount given to users who join using referral links will be distributed in NFT tokens
✔️12% cashback will be distributed as Smart LP n-NFT
What does that mean for the community?
Users who truly believe in the Nimbus Platform vision can reap more rewards for their loyalty by participating in the Nimbus Affiliate Program 4.0. This long-term incentives relationship between the protocol and the users promotes Nimbus token stability.
We're constantly working to push forward, and the Affiliate Program 4.0 is one of the steps to help improve the project's performance and ensure benefits for the Community. More details on the AP 4.0 will be published soon, so, stay tuned 😉
👍10❤8😱3
👋Hey Nimbus Community,
Terms like content creator, influencer, or blogger have been trending for a while now.
The pandemic has led a larger public to various platforms, looking for digital experiences instead of real-life ones. And there’s a term encompassing all this, one that deserves a closer look from the viewpoint of the crypto world: ✨Creator Economy✨
Li Jin, Co-founder of Variant Fund, Atelier Ventures, and a creator economy pioneer breaks the concept into four different cycles:
✔️Creator Economy 1.0 - The launch of the internet that enabled individuals to become creators
✔️Creator Economy 2.0 - Creators leveraging their following and outreach to monetize their work via advertisements and brand sponsorships
✔️Creator Economy 3.0 - Creators became independent, being able to monetize their work directly from their audience/fans.
✔️Creator Economy 4.0 - Creators and their audience/fans can create wealth together, where the future of the creator economy is headed, or it might actually already be here! Take NFTs, for example - the creator being able to sell their NFTs, and collectors being able to earn by holding, flipping, or leveraging the latest yield mechanics.
The intersection of the creator economy with blockchain enables the creators and the communities to realize collective potential and growth.
How?
The creator economy, or content economy, needs tools that surpass the limitations of platforms that don’t offer various options for creators to earn an income.
Blockchain and Web3 development are the next logical step. Here is how blockchain technology can help the creator economy:
✅NFT – Provided exclusivity. NFTs can be used to grant access to an event or an enhanced experience that would otherwise be unavailable
✅Asset ownership for fans, beyond traditional centralized platforms
✅Reduced streaming costs, paired with Web3 features – tipping, paid entry, live shopping
✅Incentivizing interactions with users without affecting their privacy
✅Smaller niches become viable. Blockchain makes that possible by reducing costs and censorship and increasing security.
Terms like content creator, influencer, or blogger have been trending for a while now.
The pandemic has led a larger public to various platforms, looking for digital experiences instead of real-life ones. And there’s a term encompassing all this, one that deserves a closer look from the viewpoint of the crypto world: ✨Creator Economy✨
Li Jin, Co-founder of Variant Fund, Atelier Ventures, and a creator economy pioneer breaks the concept into four different cycles:
✔️Creator Economy 1.0 - The launch of the internet that enabled individuals to become creators
✔️Creator Economy 2.0 - Creators leveraging their following and outreach to monetize their work via advertisements and brand sponsorships
✔️Creator Economy 3.0 - Creators became independent, being able to monetize their work directly from their audience/fans.
✔️Creator Economy 4.0 - Creators and their audience/fans can create wealth together, where the future of the creator economy is headed, or it might actually already be here! Take NFTs, for example - the creator being able to sell their NFTs, and collectors being able to earn by holding, flipping, or leveraging the latest yield mechanics.
The intersection of the creator economy with blockchain enables the creators and the communities to realize collective potential and growth.
How?
The creator economy, or content economy, needs tools that surpass the limitations of platforms that don’t offer various options for creators to earn an income.
Blockchain and Web3 development are the next logical step. Here is how blockchain technology can help the creator economy:
✅NFT – Provided exclusivity. NFTs can be used to grant access to an event or an enhanced experience that would otherwise be unavailable
✅Asset ownership for fans, beyond traditional centralized platforms
✅Reduced streaming costs, paired with Web3 features – tipping, paid entry, live shopping
✅Incentivizing interactions with users without affecting their privacy
✅Smaller niches become viable. Blockchain makes that possible by reducing costs and censorship and increasing security.
👍7❤3😱2
👋 Hey Nimbus Community,
Just a small remind for you all 😉
Whenever you have certain issues or questions relating to the Platform's functionality, you can address them to the tech support team 👉
https://nimbusplatform.atlassian.net/servicedesk/customer/portals
Just a small remind for you all 😉
Whenever you have certain issues or questions relating to the Platform's functionality, you can address them to the tech support team 👉
https://nimbusplatform.atlassian.net/servicedesk/customer/portals
👍7🔥2😱2
✋ Hey Nimbus community,
🤝 The merging of PoW and PoS in the Ethereum Ropsten test network has been successful. That means that the Vitalik Buterin team can move forward with the transition to the PoS algorithm on the main network, which is scheduled for this summer.
💪 According to a Forbes survey, 30% of the "world's richest people" invest in crypto-assets. About 18% of those surveyed said they hold at least 1% of their wealth in cryptocurrencies. Curios fact, most of them are investing in the industry as an experiment.
👽 Chainlink developers announced the introduction of the LINK token-staking mechanism. Thus, the team looks forward to improving the security of the ecosystem. On top of that, the scope of staking will expand, and its structure will become more complex.
👎 One of South Korea's largest crypto exchanges, Upbit is delisting Litecoin (LTC). The main reason is that the recent update includes an option that allows users not to disclose transaction information. In other words, we are living a decadence of decentralization.
😎Talking about the NFT market, the Yuga Labs team has revoked the smart contract that allowed it to release unlimited NFTs of the Bored Ape Yacht Club (BAYC) collection. According to EmperorTomatoKetchup, this update eliminates cybersecurity breaches.
🤝 The merging of PoW and PoS in the Ethereum Ropsten test network has been successful. That means that the Vitalik Buterin team can move forward with the transition to the PoS algorithm on the main network, which is scheduled for this summer.
💪 According to a Forbes survey, 30% of the "world's richest people" invest in crypto-assets. About 18% of those surveyed said they hold at least 1% of their wealth in cryptocurrencies. Curios fact, most of them are investing in the industry as an experiment.
👽 Chainlink developers announced the introduction of the LINK token-staking mechanism. Thus, the team looks forward to improving the security of the ecosystem. On top of that, the scope of staking will expand, and its structure will become more complex.
👎 One of South Korea's largest crypto exchanges, Upbit is delisting Litecoin (LTC). The main reason is that the recent update includes an option that allows users not to disclose transaction information. In other words, we are living a decadence of decentralization.
😎Talking about the NFT market, the Yuga Labs team has revoked the smart contract that allowed it to release unlimited NFTs of the Bored Ape Yacht Club (BAYC) collection. According to EmperorTomatoKetchup, this update eliminates cybersecurity breaches.
❤5👍5😱1
👋Hey Nimbus community,
As you know, the Nimbus Affiliate Program is an essential part of our roadmap. We are grateful to you for helping us grow our community. The upcoming AP 4.0 will bring some changes to our referral structure, so we feel it’s important to review them and highlight the main points.
Read all about it right 👉 Here!
Less than three weeks remain until the Affiliate Program fully transitions to the new version i.e. AP 4.0. Now’s the time to make the most of AP 3.1 😉
As you know, the Nimbus Affiliate Program is an essential part of our roadmap. We are grateful to you for helping us grow our community. The upcoming AP 4.0 will bring some changes to our referral structure, so we feel it’s important to review them and highlight the main points.
Read all about it right 👉 Here!
Less than three weeks remain until the Affiliate Program fully transitions to the new version i.e. AP 4.0. Now’s the time to make the most of AP 3.1 😉
❤5👍4😱1
👋Hello Nimbus Community,
Data has always been extremely valuable, with an intrinsic value that must be kept private. In the age of crypto and NFTs, metadata has become increasingly relevant. Why?
Let’s figure out!
While the data you see is regulated direct information, metadata is unregulated abstract information about the original data. Here’s a perfect illustration to help you understand and think about metadata more clearly.
How is metadata relevant to blockchain? Every block contains a block header or metadata that ensures the validation of the block.
To get an idea of block metadata, here is what it contains:
✔️The current version
✔️The previous block header hash
✔️The Merkle root hash
✔️The time when the block was created
✔️nBits
✔️nonce – a random value that the creator of the block can manipulate
In order to put metadata on the blockchain, especially large amounts of it, while maintaining privacy, a hash is created to reference the file holding the actual data.
The importance of metadata
Metadata is crucial in transactions, as it can contain instructions on managing a particular asset. It can certify the ownership and exchange of assets, the amount of assets transferred, and their value.
Metadata is also extremely important for NFTs because it describes their essential properties, like identification elements and other aspects that the creator considers important. An NFT’s metadata is its core, and It can be developed according to the ERC721 or ERC1155 standard, is pinned to the protocol, and returned to the smart contract as a hash.
Data has always been extremely valuable, with an intrinsic value that must be kept private. In the age of crypto and NFTs, metadata has become increasingly relevant. Why?
Let’s figure out!
While the data you see is regulated direct information, metadata is unregulated abstract information about the original data. Here’s a perfect illustration to help you understand and think about metadata more clearly.
How is metadata relevant to blockchain? Every block contains a block header or metadata that ensures the validation of the block.
To get an idea of block metadata, here is what it contains:
✔️The current version
✔️The previous block header hash
✔️The Merkle root hash
✔️The time when the block was created
✔️nBits
✔️nonce – a random value that the creator of the block can manipulate
In order to put metadata on the blockchain, especially large amounts of it, while maintaining privacy, a hash is created to reference the file holding the actual data.
The importance of metadata
Metadata is crucial in transactions, as it can contain instructions on managing a particular asset. It can certify the ownership and exchange of assets, the amount of assets transferred, and their value.
Metadata is also extremely important for NFTs because it describes their essential properties, like identification elements and other aspects that the creator considers important. An NFT’s metadata is its core, and It can be developed according to the ERC721 or ERC1155 standard, is pinned to the protocol, and returned to the smart contract as a hash.
👍4🔥2😱1
✋Hey Nimbus community,
🤔Capgemini research suggests that 71% of High-net-worth individuals have invested in digital assets. Most of those individuals are below 40s. According to the report, the wealth management industry is seeing an influx of investments into digital assets.
😔Qryptoquant analysts believe that capitulation is likely still ahead, despite other indicators ('pain' - NUL/NUPL, MVRV & Pull Multiple, etc.) suggesting the bottom should be either in or near. The crypto winter is coming, but how long it will last this time?
🙈 Investors fear that a liquidity crisis at cryptocurrency lending firm Celsius could end up triggering a broader contagion that could bring down other major players in the market. Did you know Celsius owns numerous assets in the DeFi world, including staked ether?
👌A bit of optimism: The president of the Central African Republic says that understanding BTC is crucial to acknowledge its disruptive power to bring long-term prosperity. In late April 2022, the CAR government officially recognized BTC as a legal currency.
🧠 Amidst the global financial crisis, Brazil is considering accepting cryptocurrencies as payment. It is not clear if the bill will succeed but it will surely help the asset class to be recognized worldwide. The bad news is that regulation will also increase.
🤔Capgemini research suggests that 71% of High-net-worth individuals have invested in digital assets. Most of those individuals are below 40s. According to the report, the wealth management industry is seeing an influx of investments into digital assets.
😔Qryptoquant analysts believe that capitulation is likely still ahead, despite other indicators ('pain' - NUL/NUPL, MVRV & Pull Multiple, etc.) suggesting the bottom should be either in or near. The crypto winter is coming, but how long it will last this time?
🙈 Investors fear that a liquidity crisis at cryptocurrency lending firm Celsius could end up triggering a broader contagion that could bring down other major players in the market. Did you know Celsius owns numerous assets in the DeFi world, including staked ether?
👌A bit of optimism: The president of the Central African Republic says that understanding BTC is crucial to acknowledge its disruptive power to bring long-term prosperity. In late April 2022, the CAR government officially recognized BTC as a legal currency.
🧠 Amidst the global financial crisis, Brazil is considering accepting cryptocurrencies as payment. It is not clear if the bill will succeed but it will surely help the asset class to be recognized worldwide. The bad news is that regulation will also increase.
👍7😱2🎉2
👋Hello Nimbus Community,
Anyone familiar with social media knows about profile pictures and how important that first impression can be. With NFTs being used increasingly as profile pictures, it’s a good time to look deeper into this popular term: ✨PFP✨
What is PFP?
PFP is an acronym used in social media, meaning ‘Profile Picture’ or ‘Picture for Proof.’ It represents the image a person uses for their social media accounts, making it easier to link their online activity to a particular profile.
With NFTs becoming a phenomenon, it’s not surprising using them as profile pictures has become a hot trend. Hence the new term PFP NFT – profile picture non-fungible tokens (sometimes abbreviated PFPs).
The inspiration
Using NFTs as profile pictures or digital avatars started from CryptoPunks and their unique characters linked to crypto tokens to prove ownership. After that, people started using various NFTs as PFPs for their social media accounts.
When Twitter offered the possibility to verify if the NFT used as a profile picture is actually owned by the user, the relation between NFTs and social media became even tighter. Celebrities and influencers started displaying their NFT collections on their accounts, and even regular users began to show off their newly acquired NFTs to get new followers.
Top success
The Bored Ape Yacht Club collection is still the most popular example of PFP NFTs. The fun apes took on immediately, and sometimes you even got particular perks along with owning the NFT. Celebrities like Eminem, Timbaland, or Neymar Jr using their Bored Ape NFTs as Twitter profile pictures pushed the trend even further.
Using NFTs as literal profile pictures on Twitter and other social media platforms is undoubtedly an easy and popular way to display your NFTs and boast about ownership. After all, if you spent the money on that ape, for example, you want to show it off.
Anyone familiar with social media knows about profile pictures and how important that first impression can be. With NFTs being used increasingly as profile pictures, it’s a good time to look deeper into this popular term: ✨PFP✨
What is PFP?
PFP is an acronym used in social media, meaning ‘Profile Picture’ or ‘Picture for Proof.’ It represents the image a person uses for their social media accounts, making it easier to link their online activity to a particular profile.
With NFTs becoming a phenomenon, it’s not surprising using them as profile pictures has become a hot trend. Hence the new term PFP NFT – profile picture non-fungible tokens (sometimes abbreviated PFPs).
The inspiration
Using NFTs as profile pictures or digital avatars started from CryptoPunks and their unique characters linked to crypto tokens to prove ownership. After that, people started using various NFTs as PFPs for their social media accounts.
When Twitter offered the possibility to verify if the NFT used as a profile picture is actually owned by the user, the relation between NFTs and social media became even tighter. Celebrities and influencers started displaying their NFT collections on their accounts, and even regular users began to show off their newly acquired NFTs to get new followers.
Top success
The Bored Ape Yacht Club collection is still the most popular example of PFP NFTs. The fun apes took on immediately, and sometimes you even got particular perks along with owning the NFT. Celebrities like Eminem, Timbaland, or Neymar Jr using their Bored Ape NFTs as Twitter profile pictures pushed the trend even further.
Using NFTs as literal profile pictures on Twitter and other social media platforms is undoubtedly an easy and popular way to display your NFTs and boast about ownership. After all, if you spent the money on that ape, for example, you want to show it off.
👍6❤3😱3
👋 Hey Nimbus Community,
📢 Staking APY Update:
As the Nimbus Platform matures, the current Staking rates on the Nimbus Platform will decrease starting from July 1.
Why?
This measure is taken in order to align the future roadmap and token price stabilization linearly.
The new APYs will be as follows:
✅ NBU Hard Staking (60 days) - 15% APY
✅ NBU Hard Staking (180 days) - 20% APY
✅ NBU Soft Staking - 5% APY
✅ GNBU Soft Staking - 5% APY
✅ GNBU Hard Staking (90 days) - 7% APY
✅ GNBU Hard Staking (180 days) - 9% APY
⭐️ Note:
Users who stake before July 1 will continue to receive rewards according to the original APYs.
Stay tuned as you will be able to get more rewards with the launch of the updated Affiliate Program version (v4.0) and n-NFT Smart Staker 😉
📢 Staking APY Update:
As the Nimbus Platform matures, the current Staking rates on the Nimbus Platform will decrease starting from July 1.
Why?
This measure is taken in order to align the future roadmap and token price stabilization linearly.
The new APYs will be as follows:
✅ NBU Hard Staking (60 days) - 15% APY
✅ NBU Hard Staking (180 days) - 20% APY
✅ NBU Soft Staking - 5% APY
✅ GNBU Soft Staking - 5% APY
✅ GNBU Hard Staking (90 days) - 7% APY
✅ GNBU Hard Staking (180 days) - 9% APY
⭐️ Note:
Users who stake before July 1 will continue to receive rewards according to the original APYs.
Stay tuned as you will be able to get more rewards with the launch of the updated Affiliate Program version (v4.0) and n-NFT Smart Staker 😉
👍8😱6❤1
✋Hey Nimbus community,
👽 Meta continues to search for ways creators can earn money on both Instagram and Facebook with crossposted Reels. On top of that, the platform expands its testing of digital collectibles, like NFTs, on Instagram Stories with SparkAR. Isn’t that awesome?
😔 CZ from Binance doesn’t want to be a musketeer. Apparently, the biggest cryptocurrency exchange abstained from extending the failed hedge fund (Three Arrows) a large credit line. However, if the market continues to crash, it will also affect Binance…
🤑 Great news for the Latin community - Bitcoin ATM and Digital Currency Machine Operator Coin Cloud announced a partnership with Cardenas Markets, one of the largest Hispanic grocery chains in the country. Soon digital coins will replace fiat money.
✅ Louisiana becomes a crypto hub - its Governor signed a bill, allowing financial institutions in the state to have custody of BTC and other digital assets for customers. He also proposed the creation of deregulated industrial power zones in the state.
😱 To the hell or to the moon? An article in the Economic Daily claims that bitcoin prices are “heading to zero”. “Once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will vanish”. To be honest, we are not so sure about that…
👽 Meta continues to search for ways creators can earn money on both Instagram and Facebook with crossposted Reels. On top of that, the platform expands its testing of digital collectibles, like NFTs, on Instagram Stories with SparkAR. Isn’t that awesome?
😔 CZ from Binance doesn’t want to be a musketeer. Apparently, the biggest cryptocurrency exchange abstained from extending the failed hedge fund (Three Arrows) a large credit line. However, if the market continues to crash, it will also affect Binance…
🤑 Great news for the Latin community - Bitcoin ATM and Digital Currency Machine Operator Coin Cloud announced a partnership with Cardenas Markets, one of the largest Hispanic grocery chains in the country. Soon digital coins will replace fiat money.
✅ Louisiana becomes a crypto hub - its Governor signed a bill, allowing financial institutions in the state to have custody of BTC and other digital assets for customers. He also proposed the creation of deregulated industrial power zones in the state.
😱 To the hell or to the moon? An article in the Economic Daily claims that bitcoin prices are “heading to zero”. “Once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will vanish”. To be honest, we are not so sure about that…
🔥8👍2❤1😱1
👋 Hey Nimbus Community,
Gentle reminder - the livestream with Nimbus senior management begins in 24 hours!
Date: June 27 at 3PM CET
Don’t miss out on the valuable insights shared during the stream!
▶️ The link will be shared right before the event, so stay tuned.
Gentle reminder - the livestream with Nimbus senior management begins in 24 hours!
Date: June 27 at 3PM CET
Don’t miss out on the valuable insights shared during the stream!
▶️ The link will be shared right before the event, so stay tuned.
👍10🔥3❤1😱1
Nimbus senior management is addressing the community in two hours!
⏰ Today, at 3PM CET
The link will be posted 15 minutes before the stream.
⏰ Today, at 3PM CET
The link will be posted 15 minutes before the stream.
👍8😱3❤2🔥1
Thanks to everyone who joined us today and watched the livestream with the senior management! 🤝
The recording is available on our official YouTube channel. Subtitles will be available tomorrow.
The recording is available on our official YouTube channel. Subtitles will be available tomorrow.
🔥11👍8😱5❤2
👋 Hey Nimbus Community,
Marketplaces are at the heart of every type of commerce, connecting creators and consumers in an organized and engaging way. The NFT marketplace is where it all happens when it comes to digital assets.
NFT marketplaces have certain features that differentiate them from eCommerce marketplaces. As NFTs become more varied and the interest in this sector grows, a new NFT business model emerges.
Blockchain-based transactions in these marketplaces are opening up new possibilities for artists and creators, as they can now collect royalties with every re-sale of their digital art. This way, the concept of scarcity becomes important with NFTs as well.
Types of NFT marketplaces
With so many types of NFTs, marketplaces are specialized for each: digital collectibles, game characters, music NFTs, real estate, and even investment projects. They all have the same purpose, though: seamless digital assets transactions.
There are two main types of NFT marketplaces:
✔️Streamlined marketplaces – more generic, for all sorts of NFTs
✔️Augmented marketplaces – highly specialized platforms catering to particular niches
How does it work?
Using an NFT marketplace is quite easy; all that's necessary is an account linked to a crypto wallet. As for the mechanism behind the trades, a blockchain-based contract is created for every NFT, and smart contracts regulate, monitor, and approve all transactions.
The platform handles the transfer of ownership in a secure way in exchange for a fee.
For creators, it's an excellent way of displaying their NFTs and getting the best price for them, as well as exposure for the artists behind the digital piece.
The marketplace is a great source of original and scarce digital items for collectors.
OpenSea is the largest NFT marketplace and the first platform to enable peer-to-peer NFT exchanges in a trustless way.
With the metaverse shaping up, more objects being turned into NFTs, and new trends seem to be emerging, NFT marketplaces will definitely become more numerous and various.
They also remain crucial for user engagement, making the NFT trade increasingly lucrative for artists and enthusiasts.
Marketplaces are at the heart of every type of commerce, connecting creators and consumers in an organized and engaging way. The NFT marketplace is where it all happens when it comes to digital assets.
NFT marketplaces have certain features that differentiate them from eCommerce marketplaces. As NFTs become more varied and the interest in this sector grows, a new NFT business model emerges.
Blockchain-based transactions in these marketplaces are opening up new possibilities for artists and creators, as they can now collect royalties with every re-sale of their digital art. This way, the concept of scarcity becomes important with NFTs as well.
Types of NFT marketplaces
With so many types of NFTs, marketplaces are specialized for each: digital collectibles, game characters, music NFTs, real estate, and even investment projects. They all have the same purpose, though: seamless digital assets transactions.
There are two main types of NFT marketplaces:
✔️Streamlined marketplaces – more generic, for all sorts of NFTs
✔️Augmented marketplaces – highly specialized platforms catering to particular niches
How does it work?
Using an NFT marketplace is quite easy; all that's necessary is an account linked to a crypto wallet. As for the mechanism behind the trades, a blockchain-based contract is created for every NFT, and smart contracts regulate, monitor, and approve all transactions.
The platform handles the transfer of ownership in a secure way in exchange for a fee.
For creators, it's an excellent way of displaying their NFTs and getting the best price for them, as well as exposure for the artists behind the digital piece.
The marketplace is a great source of original and scarce digital items for collectors.
OpenSea is the largest NFT marketplace and the first platform to enable peer-to-peer NFT exchanges in a trustless way.
With the metaverse shaping up, more objects being turned into NFTs, and new trends seem to be emerging, NFT marketplaces will definitely become more numerous and various.
They also remain crucial for user engagement, making the NFT trade increasingly lucrative for artists and enthusiasts.
❤5👍2😱2