NFTb is on a mission to help creators get started and take advantage of opportunities in the world of DeFi.
NFTb – DeFi for Creators
NFTb is a Decentralized Finance (DeFi) protocol on Binance Smart Chain (BSC). The protocol seeks to appeal to creators and to help creators take advantage of the properties and benefits of DeFi.
NFTb has received backing from Binance, who raised funding for the protocol through the Binance Accelerator Fund.
NFTb Market
The NFTb marketplace is a user-friendly place for creators and art enthusiasts to share their passion for Non-Fungible-Tokens (NFTs). Artists can list their NFTs for either $BNB or $NFTB (the native token of NFTb) and can set a time range for the auction.
The NFTs can be listed with either no reserve, a reserve price, or a fixed price. If the reserve is not met, the seller must renew the auction.
NFTb Market offers advanced royalty splits for artists and resellers. This enables artists to still make a profit from the resale of their creations on the platform, ensuring a fair playing field for both creators and resellers.
The marketplace allows users to donate auction proceeds to a list of vetted and reputable charities, including Give Well and Binance Charity. NFTb Market is the first NFT marketplace to have a charity donation option.
NFTs listed on the marketplace have sold rapidly. One particular example is the Degen Monkey series by Natanael Ginting, which sold over 100 unique NFTs in under seven days.cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/natanaelginting/status/1425714205102022668&image=https%3A//abs.twimg.com/errors/logo46x38.png
NFTb has also entered into a partnership with CoinMarketCap (CMC) that takes advantage of CMC’s Diamond Loyalty Program. NFTb users will be able to redeem their Diamonds earned on CMC for rare and limited-run NFTs, incentivizing the adoption of both CMC and NFTb.cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/coinmarketcap/status/1425418765466886147&image=https%3A//abs.twimg.com/errors/logo46x38.png
“NFTb will be working closely with CoinMarketCap to launch an exclusive series of limited-edition digital art NFTs created by the platform’s top artists. Every month, NFTb will offer a limited-edition NFT created by a top creator for users to collect,” the NFTb team detailed to BSC News.
NFTb Earn (Phases 1, 2 and 3)
Earn is a function on the NFTb platform that consists of a series of vaults available for a certain amount of time, as well as an Automated Market Maker (AMM) for liquidity provision. There are two types of vaults users can utilize: limited-time vaults and daily vesting vaults.
Token: $NFTB
Total Supply: 1,000,000,000
Strategic Contributors: 20.5% (205,000,000): 25% Initial, 25% every 3 months.
Team: 12% (12,000,000): Locked for 1 year, 25% unlocked every 3 months
Foundation: 12.5% (12,500,000): Locked for 1 year, 25% unlocked every 3 months
Protocol Rewards: 45% (45,000,000): Released over a 7-year period.
IDO Sale and Liquidity Mining: 10% (10,000,000): 100% unlocked on Initial DEX Offering (IDO)
NFTB is the governance token of the NFTb ecosystem. It can be earned by unlocking achievements on the platform. Early adopters had access to an exclusive airdrop of over 1 million $NFTB. The token can be staked and liquidity mined to further incentivize holders.
The NFTb Foundation will increase the token burn rate by 650% starting August 31st for the next 2 years.
1.3M tokens will be burned per month, with 15.6M tokens burned per year total. These burns will help maintain deflationary measures.
Holding NFTB will give users discounts on the platform. The token will also be used in advertisements and promotions, and soon will be integrated as a payment option on other BSC protocols.
There are currently five limited-time vaults, each with a different date range they will be active and corresponding APY%. The longer the vault is locked, the higher the APY. Currently the time periods offered are 2, 3, 4, 5, and 6-month periods. These vaults have a limit to the amount of $NFTB that can be locked, and will be active for locking deposits only during their stated date range.
Daily vesting vaults are limited to 4 and 6-month options, and have no $NFTB limit. These vaults are not limited to a specific date range, but user funds must remain in the vault for their monthly requirements.
Phase 1 of Earn saw all vaults completely filled within 3 minutes of opening. Phase 2 is currently live with all vaults open for deposit. Phase 3 of Earn will include Liquidity Pool (LP) tokens and multi-currency tokens according to the team.
NFTb Launch
NFTb Launch is an upcoming launchpad for creators and cryptocurrency projects. The launchpad has been described by the team as a “Kickstarter for crypto” thanks to its crowdfunded nature and the flexibility it offers to creators.
The launchpad will source funding through Initial NFT Offerings (INOs), which NFTb users can participate in by holding $NFTB. Upon reaching the base goal of the launch the creators will disseminate the agreed-upon NFTs.
Creators and projects will be able to use tools like stretch goals in order to curate their launchpad process how they see fit. This leaves the power of decision in the hands of the community – if they deem the launching project worthy, more goals can be reached.
Tokenomics
Roadmap
The NFTb roadmap is filled with objectives for the platform to meet. Currently the team is making a change in strategic direction, with the upcoming launchpad and Phase 3 of their Earn function being the main focus.
Users can sign up to receive notifications regarding when the public launch of the launchpad will be active. Currently the launchpad is set to release sometime during September of 2021.
Concluding Thoughts
NFTb started as just an NFT exchange, but the NFTb team has demonstrated they have more lofty goals after the success of their product. The team has stated their focus is on being “the platform for creators to access opportunities in DeFi with the best user experience for anyone, anywhere,” rather than simply a premier NFT marketplace.
The upcoming launchpad will be an innovative way to bring new creators into DeFi, helping to introduce the blockchain community to new artists and vice versa. With their planned integrations and active tools, NFTb is on the right path to achieve their goals.
To learn more about NFTb, visit the following links:
Source : bsc.news
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