NFTSwaps AMA Recap

BSCDaily.com hosts NFTSwaps: a cross-chain and permissionless platform for swapping NFT for better prices.


BSCdaily – Admin: Hello and welcome to BSC Daily, @Jnr0x! How is your day?

Jnr0x: My day is going cool

BSCdaily – Admin: Happy to hear 

Q1: Can you please introduce yourself to the @bsc_daily community?

Jnr0x: I am Gideon, fluent in several programming languages. Heard about Bitcoin in 2018, while I was in college. Feel in Love.

Smart-contracts got popular in the crypto space, I started playing gaming dapps. Worked on a PVP gaming Dapp concept which I consider very successful and moved with the market to participate in Defi Dapps.

Our vision to build a decentralized NFTSwaps to make NFT liquid and give investors better prices for their NFTs is great this just one piece of the puzzle, we feel like many things can be done with the NFTs and we are working together as an awesome team on NFT ideas we find cool.

Q2: Impressive intro, do you consider NFTSwaps a DEFI + NFT project?

Jnr0x: Yes, NFTSwaps is a DEFI + NFT project, we are innovating with NFTs and hence solving 4- dimensional NFT liquidity and NFT pricing problem using popular DEFI models.

Q3: What inspired NFTSwaps and the idea of a NFT DEX?

Jnr0x: The idea of NFTSwaps was inspired by our Co-Founders after discovering NFTs, they realised that NFTs needed more liquidity and if we create an NFT, we need a way for people to swap from NFT to fungible tokens like BNB on the Binance smart chain.

We do really want this to be a success and we are doing everything make sure the UI are useable, user-friendly and works as intended.

Q4: I understand that you want to be the Uniswap and Balancer for NFTs. Can you give us a simpler explanation of what NFTSwaps is about?

Jnr0x: Yeah, sure.

NFTSwaps is a Non-Fungible to Fungible Swap platform. NFTSwaps Platform V1.01, allows users to tokenize their NFT Assets (NFTs – Bep20 tokens) as long as these NFT Assets are listed on NFTSwaps. These tokens (Bep20) are tradeable on PancakeSwap using the NFTSwaps UI.

Q5: Do you think NFTSwaps will significantly improve the price appraisal and liquidity problems of NFTs? What other issues do you believe NFTSwaps is solving?

Jnr0x: Problems NFTSwaps is trying to solve:

NFT Liquidity problem;

It’s no news, NFTs are illiquid assets. Unlike DeFi tokens, NFTs have little to no sustainable on-chain cash flows, especially on Binance Smart Chain. There are no P/E ratios or DCF models you can apply to them. They are illiquid because they are more than a financial asset class. By allowing an NFT to be convertible to their BEP20 equivalent, you can run liquidity mining programs and therefore reduce the time for them to achieve liquidity to near zero.

NFT Pricing Problems;

There are few price discovery and appraisal mechanisms for NFTs, the most popular being the NFT Auction mechanism. The problem with any form of NFT Auction is, you are not sure how this will turn out and you don’t really know what prices your NFT will be valued at instantly, but with tokenization of NFTs on NFTSwaps.io, you can at least accept the base price which is the value of the NFT’s BEP20 equivalent.

Q6: Any funding achievement and milestones you can share with our members in today’s AMA?

Jnr0x: Yes, nfrswaps had a community raise that sold out in 3 secs. It was a glorious achievement, we are currently using all resources to deliver what we promised, an NFT Dex that allows anyone to swap non-fungible to fungible tokens on binance smart chain.

BSCdaily – Admin: Sold out in 3 SECONDS!!?? that’s a record I must say 

Q7: Does the project have a platform token or tokens, and has NFTSwaps offered some of these tokens for sale? Do you think there will be another token offering event for the platform token in the coming future?

Jnr0x: The platform token SWAPS is NFTSwaps utility token.

SWAPS is the NFTSwaps platform utility token.

SWAPS is the primary token of the NFTSwaps platform. The primary functions of the $SWAPS token are to serve as the governance token for the NFTSwaps DEX and to provide broad exposure to the NFTSwaps ecosystem by returning transaction fees received by the NFTSwaps platform to SWAPS token holders by buying back and burning $SWAPS.

SWAPS Token Information.

Token Name: NFTSWAPS

Token Ticker: SWAPS

Precision: 18

Platform: Binance

Supply: 2,800,000 (2.8 million)

Token Contract Address: 0xc536462e5a9fdacd4f1008a91e7daba1374c0226.

SWAPS Token Distribution.

64.2857% Public Sale – 1,800,000 SWAPS

27% Initial Liquidity – 756,000 SWAPS

3.5714% one-year Farming – 100,000 SWAPS

1.5714% Marketing and Operations – 44,000 SWAPS

2.8571% Team – 80,000 SWAPS (locked for 1 month and vested for 12 months).

Maximum Supply: 2,800,000 $SWAPS

Jnr0x: And we have another token sale in partnership with NFTPad. We will be issuing $PAD tokens to interested participants.

Q8: Is Governance an aspect you are considering, and in what way do you think you can introduce decentralized governance to the platform? How soon do you think governance will come along?

Jnr0x: Find more here: bit.ly/NFTPADLitepaper 

We will also be unlocking lock $SWAPS tokens soon and also launch our PAD token metrics.

Q9: Do you think Artists will welcome the idea of NFTSwaps Index fund, and how do you intend to get this adopted in the NFT Art world?

Jnr0x: As for governance, we will be handling launching governance along with platform mainnet using collab.land.

Sure Artist really want more liquidity and faster swaps for their NFTs. This is where NFTSwaps comes in. An nft dex to swap nft to tokens like bnb.

Q10: Any roadmap you can share with us?

Jnr0x: Q4 – 2020

Concept Research and Idea

Project brainstorming

Team formation

Tokenomics and Platform design

Jnr0x: Q1 2021

Community Raise

Pancakeswap listing

Liquidity lock for 6 months

User Onboarding

Exchange and wallet Listing

Jnr0x: Q2 2021

NFTSwap Dex Launch

NFT Pad Platform launch

Buy Back and Burn

Research multi-chain deployment

Marketing and Partnerships

Artist onboarding and Partnership creation

Jnr0x: Q3 2021

Multichain Implemention

Continuous Innovation

On-boarding users

More Partnership and Marketing

Jnr0x: We will be releasing a roadmap for nftpad.

BSCdaily – Admin: We’ll be looking forward to it

Q11: Also, what other NFTs sector do you find NFTSwaps useful?

Jnr0x: Gaming, intellectual right, finance, esports, fashion and more.

Q12: Will projects with DEFI + NFT make the NFTSwaps platform any better and why do you think so? Like storing DEFI tokens in NFTs?

Jnr0x: We are exploring all areas NFT are useful.


BSCdaily – Admin: Time for wrapping up, any last words you would like to say to our community? @Jnr0x

Jnr0x: You can check NFTSwaps using our social media links.

Sure! Here you go: nftswaps.io/

Where can I find the white paper?

 Check out the docs: docs.nftswaps.io

 What’s the roadmap? docs.nftswaps.io/roadmap./

  Blog: nftswaps.medium.com/

Github Code: github.com/NFTSwapsio

Twitter: twitter.com/nftswaps_io

 Telegram Group: t.me/nftswaps_io

 Telegram Announcements: t.me/nftswapsnews

BSCdaily – Admin: It was a pleasure having you @Jnr0x. Thank you so much for spending time with our community & all the very best for NFTSwaps

Source : bscdaily

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