Since Cardano enabled smart contract capabilities in September 2021, the network has attracted many developers seeking to create blockchain solutions such as decentralized finance applications, crypto tokens, non-fungible tokens (NFTs), games, metaverses, and web3 apps.
NFTs have become very popular today, creating more demand for NFT platforms, toolsets, and marketplaces. Although many NFT projects are already in the market, the complicated processes involved in creating, managing, and marketing NFTs have hindered many people from making their digital collectibles.
However, the platform NFT-MAKER supporting Cardano NFTs aims to simplify the process of creating, managing, and distributing these digital assets for creators.
What is NFT-MAKER
NFT-MAKER is currently building a multi-chain ecosystem with the aim to equip artists, creators, developers, and brands to efficiently create, manage and scale digital art. In other words, the platform was designed to streamline NFT creation for anyone.
Built by a team of experts in the industry, NFT-MAKER provides multiple toolsets that reduce the entry barrier for end-users, artists, brands, and corporations. These tools allow anyone to create, sell or trade their artwork with minimal coding knowledge.
With an easy-to-access interface, simple processes, and a detailed knowledge hub, NFT-MAKER presents itself as a comprehensive digital art platform for minting, viewing, and trading NFTs.
The platform is built on the Cardano blockchain, allowing transaction fees to be as low as possible while having little environmental impact due to the Proof of Stake approach. Currently, the platform has minted more than 20% of all NFTs on the Cardano network.
Features of NFT-MAKER
NFT-MAKER has several features that make it one of the leading NFT platforms on Cardano.
NFT-MAKER PRO
This robust and scalable toolset consists of an NFT API that allows users to create, manage, and sell NFTs at scale on the Cardano blockchain. This toolset empowers users, especially large projects, with seamless sales and distribution processes.
The NFT-MAKER PRO aims to make NFT development easier by removing the complexities involved. It offers users mass minting, NFT management, on-demand NFT minting, and more.
Payment Gateway
The Payment Gateway works as a checkout system designed to standardize the NFT buying experience. The platform provides support to every major Cardano-based digital wallet and even enables fiat payments via credit card. It can also be easily integrated into a plethora of different products.
Marketplace
NFT-MAKER is developing an easily accessible NFT marketplace that is focused on providing an improved user experience and onboarding new artists and NFT enthusiasts. The marketplace is targeted at pushing the platform’s ultimate objective, which is to lower the barrier of entry into the NFT space.
Game Launchpad
With the increasing popularity of blockchain gaming recently, NFT-MAKER is developing a video game digital distribution service focused on Non-Play-To-Earn games. This feature will allow creators and developers to use NFTs to crowdfund their games and solve digital rights management issues.
The NMKR Token
The NMKR token is a Cardano-based token that powers the NFT-MAKER ecosystem. The cryptocurrency has a total supply of 10 billion tokens.
NFT-MAKER intends to create several utilities for the token to boost the development of its platform and maintain the long-term value of NMKR.
The cryptocurrency will help protect holders from digital fraud by ensuring that only community-verified projects are added to the NFT-MAKER ecosystem. This creates a fair environment for projects while securing the platform for all participants.
NMKR will also be used to support artists using NFT-MAKER to mint their artwork. It also grants all holders the right to steer the platform’s future direction by allowing them to vote on certain decisions.
NMKR is currently available for trading, swapping, and staking on several major Cardano-based decentralized exchanges (DEXs), including SundaeSwap and MiniSwap.
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Correction 
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Time Stamps
0.51 Introduction
5:59 What Are Non-Fungible Tokens?
13:37 Why Non-Fungible Tokens Could Be Really Disruptive
19:31 How Do Non-Fungible Tokens Synergise With DeFi?
21:37 Conclusion
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Helpful Links & Sources
► NFT market overview: https://nonfungible.com/market/history
► Andrew Stienwold on NFT use in collateralized loans: https://medium.com/@Andrew.Steinwold/nft-valuation-lending-borrowing-putting-non-fungible-assets-to-work-ce92c61bad50
► Tinlake offering NFT backed loans: https://centrifuge.io/technology/tinlake/
► Tinlake partnership with Maker and Paperchain: https://medium.com/paperchain/how-we-worked-with-centrifuge-and-the-maker-foundation-to-advance-60-000-worth-of-spotify-revenue-a3b6b31299aa
► Rocket enters NFT backed loan space: https://defirate.com/rocket-nft-loans/
► WAX digital asset marketplace: https://wax.io
► Nimiq the project that could connect NF’s with the traditional banking system: https://www.nimiq.com/
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Simple Overview
Non-fungible tokens are a hidden part of the DeFi space that no one is talking about right now. At the time of this video’s release, NFT 7 day trading had risen to over $400 million, which was more then the sector managed to achieve in the prior three weeks. Now, that’s some explosive growth indeed.
What Are NFT’s?
NFT’s can be thought about as digital collectibles. They possess four core characteristics:
– They cannot be replicated.
– They cannot be counterfeited.
– You can’t print them on demand.
– They have the same ownership right and permanence guarantees as Bitcoin. However, the collectible can be personalized and unique.
Why Non-Fungible Tokens Could Be Really Disruptive
Digital items simply don’t follow the same ownership rules of physical items. That song you listen to on Spotify or that film you watch on Netflix is rented and not owned. These platforms act like walled gardens and do not allow you to transfer value from one ecosystem to another. NFT’s could be super disruptive as they can completely change the rules for current ownership rights on the internet. They provide a way for the people to actually own and control digital assets and that’s something that was missing before.
How Can You Use Non-Fungible Tokens?
Right now, the biggest use-case for NFT’s is within computer games. Look at the top four projects on nonfungible.com and you’ll see they are all gaming related.
Now, gaming is a massive market with PC gaming projected to be worth more than $3.3 trillion in 2020 alone.
NFT’s could also be used to correlate the authenticity and supply of things like antiques or limited edition products. This can be done by tokenizing physical items by linking them to an NFT. That’s pretty useful for those that like to buy collectibles like limited edition trainers and ensure that what you are buying is the genuine item.
Non-Fungible Tokens & DeFi
Platforms like Tinlake and Rocket are now accepting NFT’s as loan collateral in the DeFi space. Now, being able to use that special item you have earned in a game and use it to get a real-world loan is pretty cool in my book.
NFT Opportunities
I think that NFT’s are a completely new asset class. One thing to recognize is that with any new asset class, it is those who jump in first and take the risk that get rewarded the most if things really do take off.
There are two NFT infrastructure plays that I have my eyes on right now:
Wax: Which is a digital asset marketplace for in-game items.
Nimiq: Who are set to launch a non-custodial method, called Nimiq OASIS, to get in and out of crypto or fiat in 2020. This seems like it could be an excellent way for NFT collateralized loan companies like Tinlake to offer loans paid directly into customer’s bank accounts. Even more interestingly, OASIS will support the ERC-721 and ERC-1155 standard and could provide an additional way to exchange NFT’s for Euros paid directly into your bank account.
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Ethereum #crypto #tokens #Decentraland #WAX #blockchain #gaming #review
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