Despite the huge adoption, NFTs have gotten in the digital space, there are many challenges that the NFT ecosystem needs to address. First, is the provision of authenticated proof of ownership for artworks such that a particular artwork can only be attributed to one creator. Second is the integration of use cases to NFTs such that the use cases will attract new investors while giving value and passive rewards to existing investors.
Also, non-institutional creators find it difficult to get their artwork to a larger audience, and some creators do not have an environment /resources that can help them turn their artworks into an NFT. These issues have discouraged many investors from investing in NFTs, but the digital space has always shown a friendly environment for projects to come up and solve challenges in the space.
NFTY Network has come to the NFT world to solve all the above-named issues through their products; NFTY labs, NFTY connect, and NFTY launch.
NFTY Launch: This is a new NFT launch pad through which new NFTs will be brought to life, with an in-built utility that will attract investors. Upcoming NFTs projects will utilize the launchpad for getting their project to large numbers of audiences.
NFTY Labs: NFTY Labs is created to offer both the community and Creators a solution to the challenges in the NFT ecosystem. Creators can utilize the lab to create their own NFTs and have them available to a large number of communities, and the communities will be exposed to several artworks from different creators and institutions while getting utility for the NFTs.
NFTY Connect: With this product, NFTs utility can be enhanced in such a way that NFTs can be used as the event pass, lent out to others who may need them. Token gating will also be possible through NFTY connect.
The NFTY community has shown huge growth in the past week. First was that the project became the third-highest gainers globally on November 10, 2021, after rising to +1000%.
It has also organized several contests within the past week, first was the art contest which was in partnership with Mogul Production. The first position was rewarded with $200 BUSD, and his artwork will be converted into an NFT and listed in Mogul Production Market place, Second and third positions received $150 and $100 respectively. There is an ongoing contest by Bitcoin Keith. 10 participants have already won $100 each, forty more users will win $100 each making the prize pool a total sum of $5000. To participate click
Here.
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