NFTFN – Revolutionizing the NFT Financial Market
NFTFN (formerly known as Bliv.club) is a pioneering start-up in the web3 space that is transforming the world of non-fungible tokens (NFTs). By leveraging blockchain technology, NFTFN aims to create groundbreaking financial products. It simultaneously focuses on providing users with innovative trading opportunities on their platform. This project overview delves into NFTFN’s journey, key features, and future plans.
NFTFN – Background
NFTFN’s CEO and co-founder, Vikas Singh, embarked on his blockchain journey through participation in international hackathons. Recognizing the immense potential of blockchain technology, Singh was inspired to explore its applications further. This led to the establishment of Bliv.club, which later rebranded as NFTFN to reflect their enhanced insights and experiences in the space.
Product: Supernova – The World’s First NFT Index
Supernova stands as NFTFN’s flagship product, revolutionizing the NFT market with its innovative approach. Supernova acts as an index similar to traditional financial indices like S&P500 or Nifty50. It allows users to gain synthetic exposure to asset prices without actually owning the underlying assets. This groundbreaking concept opens new avenues for speculation and investment within the NFT ecosystem.
NFTFN – Platform Features
NFTFN operates as a polygon-based order-book exchange, offering users a comprehensive view of multiple token prices. The platform’s key features include:
- Slippage-Free Trading: NFTFN ensures that users do not incur losses due to slippage, providing a seamless trading experience.
- Low-Entry Barrier Margin Trading: By supporting 10x leverage, the platform lowers the entry barrier for users looking to engage in margin trading. This allows for financial opportunities accessible to all.
- Competitive Trading Fees: NFTFN charges minimal trading fees, allowing users to maximize their trading potential. The fee structure comprises 0.2% for makers, 0.2% for NFTFN, and 0.3% for takers. However, these percentages may be subject to change.
- Filtration Process: The protocol employs a meticulous filtration process to eliminate projects engaged in wash trading. Hence, ensuring a more attractive trading environment for end-users.
2/ “You will never go back to banks if you understand how to send money via crypto,” @HeyVixon was so impressed by blockchain’s “ground-breaking” long-term use case of seamless money transfer during hackathons, that he created NFTFN! 🤯— Dapps.co | Hiring 🤘 (@dapps_co) May 24, 2023
Security and Transparency
NFTFN places paramount importance on security and transparency. The decentralized nature of Supernova ensures that users can view all relevant information, including floor prices, on the platform. Users are empowered to crosscheck data at any point, promoting trust and transparency. Additionally, the protocol operates on a non-custodial basis. Meaning that user funds remain under their control, and transactions require explicit user approval.
NFTFN is committed to further development and expansion. The project aims to achieve scalability, anticipating that other platforms will eventually adopt order-book mechanisms. However, NFTFN’s early adoption provides them with a competitive edge, having already tackled existing and potential challenges. The team also envisions the establishment of a decentralized autonomous organization (DAO) to involve the community in the decision-making process regarding asset listings. Moreover, NFTFN plans to explore opportunities beyond its current polygon-based infrastructure and venture into other blockchain networks to broaden its reach.
As NFTFN continues to innovate and reshape the NFT financial market, its focus on providing user-centric features, capital efficiency, and a secure trading environment positions them as a significant player in the evolving web3 landscape. By bridging the gap between traditional financial markets and the NFT ecosystem, NFTFN aims to unlock new possibilities and transform the way users interact with NFTs.
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