First Look: Nftfy
Nftfy, The NFT and Defi Combination, Looking to Alter The Market Landscape
Nftfy is a profound open marketplace for anyone to monetize art and collectibles. It features things like trading, staking, and the fractional ownership of NFTs. In other words, through Nftfy, you can attain your very own fraction of digital art, almost like owning a piece of a puzzle.
Volatility, Sustainability and Attainability
Several detrimental issues infect the current state of the entire NFT market, constricting its growth potential. Among the plethora of concerns, volatility, sustainability, and attainability are the most important. The exclusivity inherent to non-fungibles instigates a deleterious effect on asset trading, ownership, and even creation.
When NFT assets are minted, an entire market must begin guessing the actual value instead of assessing its value through trade. This immediacy and auctioning add far too much emotion to one’s reasoning and inhibit concrete price discovery. Further, trading of the NFT may prove challenging for small investors due to the high entry point. Lastly, those looking to sell their digital art may struggle to find the correct owner. Art can have interest, but that doesn’t mean the people interested can afford to own the entire piece of art.
Nftfy’s Comprehensive Correction
Nftfy recognized the problems native to the NFT market and how they are further amplified due to its genesis’ recency. As opposed to developing another ‘Amazon of NFTs’ or ‘Foodland of Non-Fungibles’ droll marketplace, Nftfy decided to enhance the market for all. The pivotal factor in this enhancement is their revolutionary NFT fractionalization.
Nftfy transforms every NFT into its own market through the phenomenon of fractionalization. Altering NFT’s into a tokenized form supported by AMM liquidity facilitates the inception of healthy NFT trading. This tokenization serves to lower the entry point to NFT investing, increasing inclusivity and adoption. Lastly, the tokenization process is not limited to Nftfy itself. Users can tokenize their assets, and through the advent of Liquidity Bootstrapping protocols, they can launch their own ‘shops’ for their art. A combination of innovation and commitment to equitable marketplace conditions shifted Nftfy’s ingenious idea into a potential market-shifting product.
The Team: Fractionalization Focused, But United in Effort
Adverse to other NFT-based protocols and marketplaces, Nftfy’s team was forward-thinking enough to begin their development back in May of 2020. At the helm of this foresight are Leonardo Carvalho, Alessandro P., and ten other integral team members. This team comes equipped with a wealth of knowledge and experience, but none is more impressive than Alessandro. Alessandro played and still does play a vital role in the development of ChainGuardians, one of the most successful NFT-based companies in the crypto sphere. The nearly unobtainable experience this provides gives Nftfy an edge in their continued growth.
Network Economy and Utilities
Nftfy also implemented an array of Defi-inspired token utilities into their network. The most crucial of which is the burning mechanics and liquidity mining system in place. The burning mechanics implemented into Nftfy serve to benefit holders, users, and traders alike. This burning mechanism will facilitate price stability during Nftfy’s phase of token supply growth. Deflationary effects always serve to protect investments. More importantly, liquidity mining will allow liquidity providers to share in the rewards of the network at a more prolific rate. This incentivization of liquidity provision is an integral part of a sustainable network, especially when that network is a marketplace. This extra liquidity will facilitate a healthier trading experience for all users while further rewarding liquidity providers. Overall, the token utility system set in place by Nftfy is healthy and primed to support the maturation and sustainability of the platform.
Nftfy managed to turn a simple idea into a complex and invaluable solution for the problems riddling an industry experiencing exponential growth. These solutions, coupled with exceptional token utilities and an accomplished team, make me confident I’ll be seeing much more of Nftfy in the future. Nftfy the trailblazing market disruptor fractionalizing NFTs.
For more on Nftfy head to www.nftfy.org
Graphic Design by Caelan Flemmings