NFTs (Non Fungible Tokens) have taken on a leading role in the crypto sector and the curve of its adoption has grown exponentially in recent months and now the sector boasts a turnover of billions of dollars. By now there is not a single blockchain on which a project or platform dedicated to NFTs has not developed and the trend is constantly expanding and growing. On the other hand, it is sufficient to remain in the Terra ecosystem to fully understand how crucial the sector is and this contributes to the growth of the LUNA and UST market, the reference currencies of our blockchain.
What are NFTs?
Although the acronym NFT is now read everywhere, not everyone knows exactly its definition: Non Fungible Token is therefore a digital token that has its own aesthetic form and its own unique ID number, which is why they cannot be counterfeited. The blockchain is a public ledger and all IDs are transparently identifiable, so there can be no counterfeit NFTs. We usually think of the token as a coin but the NFT category includes anything that can have an ID and can be transferred on the blockchain.
NFTs have been mostly associated with digital works of art or cards for example and their value certainly exceeded any limit we could imagine, such as the CryptoPunk, among the first NFT projects and today the rarest are worth dozens millions of dollars. But aside from the economic aspect, the opportunity that the sector offers to artists is greatly enhanced and this has created a release of digital works by countless authors and artists, many of whom have actually achieved recognition that they would hardly have known in the past.
However, not everything that is an NFT is to be considered valuable. It is difficult to estimate the works in circulation and many are the users who daily buy garbage as if it were gold. Therefore, in my opinion, it is necessary to create an NFT platform that not only manages the works created by the artists but above all offers information to users on what they are actually buying and what its real value is.
LUNART NFT
The LunArt team rocketed into the NFT space in Q3 of 2021, coining their own collection, called the Genesis Collection, consisting of 333 multi-layered pieces of mathematical inspiration and obtaining an incredible success with the sale of the entire collection in 30 minutes and cashing in about 500k dollars. This absolutely positive experience encouraged the team to create their own platform on Terra that would concentrate all efforts on the onboarding of new talented artists, helping them step by step from the creation of the NFTs to the sale of the artwork.
The team is very experienced and knows very well the critical issues of a truly immense market, a territory that is therefore very attractive for scammers or plagiarism. Hence the need to create a healthy environment that simultaneously protects both artists and digital art buyers. In fact, the team will use its experience to evaluate all the works of art in order to verify any counterfeits by the artists and will therefore guarantee users that all the works on the platform are original. In my opinion it is absolutely necessary to start a filter of the immense material in circulation, not all users have the appropriate knowledge to verify every single NFT and as an external user I definitely prefer to pay a small fee and have the guarantee of a unique and original product.
However, the LunArt NFT platform will not only have a control function for the artists and works, in addition to the marketplace, but will create a dynamic platform that will offer large spaces to artists where they can freely present their works, creating dynamic galleries, live with the artists. while creating their own NFT live, or users can provide indications for the design and implementation of their own NFT.
THE BAKERY
Unlike all other NFT marketplaces, LunArt incentives users not to sell purchased NFTs but incentives them to stake them, offering a 25% return between $ ARTS and UST. The rewards in stablecoin derive from the revenues that LunArt will obtain from the various partnerships, from sales or from the art gallery and that it will send directly to Anchor.
Over time, the sum of the rewards will grow more and more or this will generate more USTs to distribute to the holders! The Bakery therefore aims not only to capture the attention of NFT lovers but wants to promote the platform by offering a new investment opportunity typical of DeFi but this time associated with an NFT.
In addition to obtaining an annual return, NFTs will be able to increase their work over time and this will guarantee a double benefit for investors!
TOKENOMICS
$ ARTS is the official token of the LunArt NFT platform with which it is possible to make NFT purchases in the marketplace. For each NFT purchased in $ ARTS, 20% will be distributed to the community and the remaining 80% will be burned. This will allow constant pressure on the market and in the long run it will be very interesting to observe the burning mechanism with the exponential increase in sales on the platform.
In the event that the ARTS token is traded below 3.33 cents, the burning mechanism is activated. The more ARTS drops below 3.33 cents, the hotter the fire (i.e. the more ARTS is burned). The ARTS price goes down from 1.8 cents the APR goes UP. As the price goes up from 1.8 cents the APR also goes UP! Thereby increasing the incentive to burn your ARTS in order to secure the higher yielding NFT. This increase in burning pressure stabilizes the ARTS price and pushes it back above 3.33 cent level.
$ ARTS was designed to be sustainable over time and its success is closely linked to its platform. Do you have doubts about it? : P
ROAD MAP
LunArt's growth and expansion plan is decidedly powerful and aims to offer more services for artists, the first supporters of the platform, those on whom the success of the project will obviously depend. In addition to hiring numerous leading artists in the NFT sector, the team is building a series of strategic partnerships that will significantly expand LunArt's potential.
A strategic partnership will be confirmed with Hibryd NFT, the company that is building 3D machines for NFT printing! This means that in the future, those who buy an NFT on LunArt, in addition to owning it in their wallet, will also be able to request a real print and receive it comfortably at home! Don't you think it's extremely exciting?
In addition, the listing of $ARTS on some CEXs is planned, this will increase the visual impact of the platform to users outside the Terra and will also significantly affect the value of the token.
CONCLUSIONS
NFTs are destined to irreversibly change the traditional way we know art. The talent of the artists is changing style compared to the canonical standards of the past, so it is necessary that the tools available also evolve. LunArt has understood that in the current chaos, artists and clients need a clear and safe tool, otherwise the risk is to get lost in the ocean of NFT and in all its dark aspects.
LunArt is the natural evolution of OpenSea, so let's expect huge NFT traffic on the platform in the coming years.
Website: https://www.lunart.io/