NFT Tech’s marketplace is up and running, and enthusiastic collectors and traders are already getting to grips with the impressive platform. The marketplace is powered by $NFTT, the platform’s utility and governance token. $NFTT is used for listing and marketplace fees, but also opens up a host of other benefits and ability for users to earn a regular yield through the ongoing churn taking place in the NFT market.
The token is due to be listed on Uniswap on the 21st October at 2pm. Those who buy early may find themselves grabbing a bargain as the NFT market starts to make its predictable step-up from chaotic infancy to arrogant adolescence. $NFTT, as well as being used for all marketplace activities, it is also fit for governance purposes.
Holding $NFTT also entitles the users to auto-whitelisting when various projects are minted and launched on the platform. Since projects can be minted for free, and NFT Tech makes the path from creator to entrepreneur as smooth as possible, it’s likely that many projects of the future will launch on the NFT Tech platform and use the NFT Super Chain.
The NFT Super Chain is a custom-built blockchain exclusively designed for the minting, trading and storing of NFTs. NFT Tech hopes that by the creation of a blockchain dedicated to NFTs, it can act as an undeniable stamp of authenticity on the art, as well as smoothing out and speeding up the process of trading – a far cry from the clunky intersection of smart contracts found on other platforms. However, NFT Tech states you can transfer NFTs minted on their blockchain to other chains.
NFT Tech is also working on the creation of a bid order book system for NFTs, akin to how you can trade tokens on a classic centralised exchange. Except NFT Tech will be decentralised, as the token confers governance rights. This bid order book system will allow fluid NFT for NFT trading – as each NFT will be assigned a value in $NFTT. This means once-tricky and perilous OTC NFT swaps can be done trustlessly, safely and securely on the NFT Tech platform. Holders of $NFTT will receive a yield from the fees on this liquidity matching engine, and will also benefit as the engine snaps up low price NFTs and brings them up to a fair market rate.
People wanting to get their hands on $NFTT can do so at the Uniswap listing on the 21st of October at 2pm. 2021 has been the year of the NFT, and NFT Tech might end up being the main attraction.
