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A new NFT project that combines DeFi and eCommerce emerges

CryptocurrencyApr 26, 2021 10:00AM ET
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A new NFT project that combines DeFi and eCommerce emerges

The NFT sector of the crypto industry has exploded in 2021, similarly to how DeFi skyrocketed last year. As the sector continues to grow and expand, attracting countless celebrities to join and spread the word, many are still debating whether or not NFTs are a passing trend or more. Some are even questioning whether or not they might be aiding digital art theft.

But, just like with DeFi, digging deeper into the NFT sector opens up plenty of new options, possibilities, and opportunities, which is something that a new project called NFTmall is particularly interested in exploring further.

What is NFTmall?NFTmall comes as the first creator-centric, DeFi and eCommerce-powered, physically-redeemable NFT marketplace. As mentioned, the NFT sector is attracting plenty of celebrities, and this is no coincidence. Since NFTs are essentially tokenized real-world assets, they present a perfect opportunity for artists, photographers, and creators of other types of content and artwork to offer their creations to a larger number of users, lower the entry barriers, and simply gain more exposure to show their creativity.

NFTmall comes as the answer to their troubles by providing all of the above, in a creator-centric, and yet decentralized, DeFi and eCommerce-powered, multichain and standard support, physically-redeemable, universal NFT marketplace.

Basically, the project’s vision is to level the playing field and fill the gap between digital and traditional artists through a unique and universal platform. Eventually, once it grows to a desired size, the platform will also start offering NFT auctions.

Benefits of Using NFTmallFor now, however, the project is still in development and live in BSC test net (beta) at the moment, with plans to launch its mainnet soon, in early June, according to current predictions by its developers. But, the benefits of the platform are a much bigger deal and a more important topic.

The platform realised the limitations of existing marketplaces both centralised and decentralised and improved the cost efficiency of artists displaying their work. Previously, artists would have to create a physical copy of their work, get it accepted by some gallery, promote the exhibition, and then find individuals interested in purchasing their art. This is a very lengthy and expensive path to travel, which NFTmall significantly shortens and makes it much cost-efficient by deploying in BSC network and introducing Zero platform fees and thus become the most cost-efficient platform to Mint an NFT. Thanks to NFTmall, any artwork can be minted as NFT now at a cost of less than a dollar!

All that artists would have to do is tokenize their work and offer it for sale on the platform. That’s it. In doing so, it can easily bring NFTs to the masses, allow people to purchase only a portion of the tokens assigned to any individual artwork, and in doing so, become partial owners of it.

NFTmall platform also handed back the power to creators /artists which they believe well deserved and should be by giving them the opportunity to set royalty and affiliation commission percentage, at the moment existing marketplaces Royalty percentage is chosen by third party.

This is a great opportunity for new artists to gain exposure and appreciation of their art, as well as for art-lovers, who are not only limited in their ability to support the favorite artists through only art purchases but also being an affiliate and share and market the artwork and also getting rewarded by the commission set by artists/creator at the same time.

NFTmall platform benefits not only limited up to here, but the platform also offers materialisation of these NFTs too and NFTs can be redeemed into various physical objects like Canvas, clothing, collectible cards, etc. and will be verifiable and authenticated via blockchain!

Apart from that, the project has also come up with a unique, revolutionary feature called NFTmall 3D, which is a Decentraland-inspired virtual marketplace. The marketplace will offer various types of dedicated 3D visual stores, such as art, collectable card NFTs, gaming items, rare NFTs, audio NFTs, physical NFTs, 3D NFTs, and more.

What is Next for NFTmall?In the future, the platform will also offer lending, borrowing, and even fractional ownership of NFTs, NFTmall Payment gateway for non-crypto users, $GEM token fiat Ramp, etc. which are brand new features of the NFT sector.

The project recently held a GEM token sale private round A, which has been sold out in less than 2 minutes on April 18th. It has been even more successful than the original seed round, which sold out in 20 minutes, at a price of $0.4 per token. Private Round A even had a higher price, selling at $0.55, with a cap that has been nearly 3x higher, at $220,000.

There is a lot in store for this revolutionary project, and with the NFT sector still exploding, the project has chosen a perfect time to emerge and make the biggest impact on the artistic community of the entire world.

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A new NFT project that combines DeFi and eCommerce emerges

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