Nftmart.io, the first Polkadot platform to build a fractional trading marketplace of non-fungible tokens (NFTs) with its own public blockchain, announced an undisclosed number of funding by PAKA, LD CAPITAL, CMS, AU21 CAPITAL, DFG(Digital Finance Group) and Crasolum. NFTmart is trying to become the world’s most professional NFT decentralized trading market. It is divided into two parts.
The first part is called Nftmart.io, an open and decentralized NFT public chain mainly used to issuance NFT products and transaction data on the chain. The second part provides friendly transaction scenarios for the nftmart.io website so that users can upload or trade NFT conveniently and quickly.
The testnet distribution address will be asked at a later stage because testnet is not live yet.You can submit your address in a seperate form once testnet is live.
Short DescYou will get free testnet coins after completing all tasks and you can swap your testnet coins to mainnet once it is live.ription
Solve transaction costs and transaction efficiency
Low development cost Based on the substrate framework.
The system is safe and reliable Can be upgraded without forks.
The coordination between the public chain layer and the business layer can make it easier to provide services.
Access to Polkadot’s cross-chain ecology Integrate NFT assets across the network.
Economic design goals
The NFTmart economic model needs to seek a balance between protecting the interests of all participants and the sound development of the system. And it needs to be considered that economic models can eventually lead the ecosystem to community autonomy smoothly. It is necessary to ensure that the self-interests of all participants are consistent with the ultimate goal of the system and promote each other. At the same time, all participants can also supervise and restrict each other to ensure the safety and stability of the entire ecosystem. In order to achieve design goals, we think from several aspects: (1) How to ensure the safety of NFTmart. (2) How to maintain the sustainable development of NFTmart. (3) How to protect the interests of participants. (4) How to ensure that the interests of the participants are consistent with NFTmart’s development direction.
The value of the token
NMT is the function token of NFTmart network, and its value depends on the development of NFTmart network and ecology. Its value is positively related to the scale of the NFTmart network. When NFTmart is used by more people, organizations, and institutions, the demand for NMT will increase accordingly. There are two main ways in which NMT tokens capture network value:
(1) When users lock or occupy the network to reduce the total circulation. For example, the staking of the consensus mechanism and the pledge of tokens for application services on the chain;
(2) Various destruction scenarios reduce the total amount of tokens, such as transaction fees and NMT reserves in the treasury.
The nominator is an account that provides guarantees for any one or more nodes in the NFTmart network. An account with an NMT pass can become a guarantor, and the guarantor provides a guarantee for the stability and integrity of the node’s service with the NMT held by the guarantor. The guarantor can share rewards with the guaranteed nodes (the specific ratio is determined by each node). If the node is punished, the guarantor will also bear the penalty according to the proportion of the guarantee.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.