I’m talking about what kind of platform we are creating and how this can change the NFT market.
To begin with, the NFT market is developing very rapidly now. Here are some high-profile articles lately:
- Early CryptoPunk Digital Collectible Sells for $762K in Ether
- The @fewocious open editions have just closed. Over $700,000 was sold
- NFT marketplace Rarible raises $1.75 million in seed funding round
This is not all the news from the world of NFT. And this is just the beginning. Let’s move on to our platform. I’ll tell you what can be done on it and how it differs from competitors.
To better understand our service, let’s take a look at the competitors:
- There is an NFT marketplace Rarible. It allows anyone to create their own NFT in a few minutes and start selling it through their store.
- There is NiftyGateaway, which collaborates with popular authors. The author makes an exclusive NFT series and sells it on the site 24 hours
What will happen on NFTL.art (CyberTime Finance platform)?
We want to create an NFT league. It will be held seasons (25–30 stages in each season). Each stage lasts approximately 10 days.
How will the stage proceed?
- Crypto artist uploads his works to the platform before each stage
- Before the start of voting, a draft window opens. Each Fantasy Teams member can create their own team of crypto artists and their works. Who, in his opinion, will gain the most votes, who will sell their work the most, etc. Anyone who purchases a Fantasy Pass using the native NFTL token can participate. This is just one of its uses. There will be a leaderboard who scored the most points with the Fantasy Team, and there will be cash prizes for the winners!
- Voting / pre-sale starts. There will be two types, voting — love and money.
- Love is when you can like the author, write a comment, give a badge (exclusive NFT from our platform)
- Money. People transfer money. All the money will go to the author of the work, but the biggest bet will eventually take the NFT itself.
4. After 7 days of voting and discussion, a 24-hour auction opens. Everyone who deposited money at the previous stage gets the opportunity to buy NFT. Highest bet wins
5. If the works are not sold, they end up on the secondary market. The starting price of all works is $ 20 and counts down 24 hours to $ 5. Any member can buy at any time. If the work is not sold at this stage, it automatically goes to the NFTL fund. Once a quarter, there will be a charity sale of all NFTs in the fund and the proceeds will be donated to charity (the community will choose which charity to send money to after each sale)
Like? Move on.
We want to implement a personal token system for each crypto artist. Any artist can issue their tokens on our platform. These tokens will be mined according to an interesting scheme. Let’s say the artist has 50,000 tokens in total. By participating in the stage, the author uploads his work. Those who transfer money for his work automatically participate in the mining of the token. It is planned to allocate 1000 tokens for each stage and they will be distributed in proportion to the amount contributed for the author’s NFT.
Why are separate tokens needed?
- They can be used to buy works by authors at a discount.
- You can participate in closed sales of the author’s works (possibly on our other platform)
- Earn on the rise in the price of the token (imagine that you can have NFT Pranksy or CryptoPunks, or maybe the tokens of these artists. Someone wants to be involved in them)
You probably already realized that we are not just creating an NFT work store. We are creating an entire ecosystem in the NFT market with a completely different user experience for buying and interacting with NFT. We are sure that this will be in great demand, because it makes it possible to be involved in the NFT market without investing a lot of money. Follow the vote at every stage, support your favorite authors. And for authors it is a springboard for self-realization. Be with us and support us on the nearest farming!