Introducing DeFi into NFT industry, building an NFT marketplace and community that supports digital artists, creators, and NFT industry.
First thing first, nothing is perfect, we have to try to make it good. This piece of article is not perfect, you may find some lack, but we all human. Pardon me for that, but I guess you'll understand basic things.
Skip reading, and buy AFY token
We know DeFi is here to reshape the blockchain industry while digital art aka NFT going to be a real game-changer in the industry, why not take the opportunity from the DeFi protocol and bring value to NFT artists and traders? We think NFT market is still undervalued and in most cases, creators get a tiny value for their works. So we want to make a bridge between the market, creators, and traders so that they earn additional passive income through staking tokens and NFT items.
When we start working for good things, we should look only in the big picture. Therefore, we have to start with financial support to build from the scratch. We believe a good idea and a great execute plan can make the world changed forever.
So let us give you an idea of our idea:
- The idea is to create an NFT marketplace
- Blockchain token to reward users by staking
- Minting official NFT that reward additional token for the NFT holders as well as earns trading from trading fees
- NFT liquidity pool
- More features can be added as community wants by voting
Tokenomics
Token name: Artfinity
Tickr: AFY
Initial supply: 50000
Token sale details:
50000 AFY token will be available during the pre-sale and public sale, we will sell by dividing equally. So, at pre-sale at most 25000 AFY can be sold, the individual cap is 5000. We want a fair distribution, so one person is limited to buy at most 5000 AFY in each phase. If someone wants to buy more than 5000, he needs to participate in both phases to purchase at most 10000 AFY.
Price structure:
Pre-sale is divided into two phases.
Phase 1: 10000 AFY available at price $0.5
Phase 2: 15000 AFY available at price $0.7
Public sales will happen at a flat price of $1.5 per token, a total of 25000 AFY.
Pre-sale phase 1 starts from 22 (duration 48 hours or until token available, whichever comes first)
Pre-sale phase 2: (duration 48 hours or until token available, whichever comes first)
Public sale: Dates will be announced immediately after ending the earlier phase. Duration 72 hours
We aim to raise a total of $53000 initial funds to start building the marketplace and a rewarding community for NFT industry.
How will staking reward works?
Currently, we have 2 plan for staking AFY. First,
By staking/locking AFY token, users can earn up to 21% APR. The more token locked the lower the interest and it will be stable at around 12% APR. Staking program is set for 12 months, unless community wants, staking will be ended after this period. in the mean time, our CDP like product for NFT item will be more profitable that can skyrocket the AFY price. To control price inflation, we have a buy-back and burning plan which detail will be shared later. One more important thing, staking rewards are claimable once a month, this will make the market more stable and upward.
Second,
Staking AFY will work similarly to a CDP product but with a bit different concept. Users will lockup AFY token to receive an NFT item that receives NFT drops, platform profit sharing, etc. Unlocking AFY token will automatically burn the NFT to reduce any inflation. In this part user will require a minimum of 1000 AFY.
Note: Second part of staking is still in very early stage, but we are working hardly to make it in reality.
Liquidity pool for NFT
Users who want to use provide liquidity to the digital art market and support the artist, we bring opportunity for them too. Users will be able to lock funds (ETH, BTC) for a specific period up to six months and earn at most 22% APR.
How does this work?
Users provide liquidity and we buy handpicked items on the open market then sell at a higher price. Maybe we use voting before starting this, will share more info once finalized. We shall use a fair ratio of funds to avoid any unexpected situation. For example, for now, we are planning to use only 40% of the provided funds to use in this purpose. As time goes, we will develop our plan and more things will come up.
If you are an artist, keep an eye on us, we expecting to launch in a couple of weeks. If you want to support the project and global artists, buy AFY today.
UPCOMING EVENTS IN SEPTEMBER: (After token sale)
1- AFY Listing on Top Tier Korean Exchange
2- MVP release for community
3- AFY Staking goes live
4- Beta testing
ARTFINITY TEAM
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