Mintology is launching the world’s first selective NFT
launchpad. It is a kickstarter and online marketplace where artists and creators can put their digital works up for sale as soon as they are minted. The Sponsored Launchpad
is expected to launch by the end of September 2021. Until now, the challenge for artists and creators has been not being able to easily access the community after minting their NFTs. Mintology
is the next step for these creators.
In short, Mintology is the IEO for NFTs. Users can list their work directly on the NFT exchange. This provides instant access to potential buyers who are looking for select digital assets.
What is NFT?
) is a digital asset whose value is derived from its unique attributes and digital rarity. In contrast, it is not derived from its total market value, as is the case with traditional stocks or bonds. Moreover, NFT creators set their own price, unlike many assets in traditional digital asset markets (such as Spotify or Apple Music).
In essence, NFT creates scarcity from something that wasn’t scarce enough before: information itself. Before the NFT, the only way to ensure scarcity was through patents or trademarks, and even then, digital assets could be easily copied and stolen. But with NFT, a creator can create assets that are inherently rare. This is achieved through the uniqueness of each asset’s attributes, which can include source code, artwork, or simply a unique address on the blockchain.
For some artists, NFTs have also enabled them to monetize their content in new and exciting ways. For example, a songwriter can use NFTs to sell tickets to a live performance of her song. Whereas a painter can sell NFTs representing a limited edition of one of his paintings. As the world’s first fully integrated marketplace for digital assets, Mintology will provide creators with more ways to earn additional revenue from their work.
However, this global fascination with the NFT market is a double-edged sword, as the result is that the market is flooded with low-quality NFT projects. This makes it difficult for investors to discover projects with real potential. Mintology is on a mission to make high quality NFT the new standard for digital ownership, through a carefully selected marketplace.
IEO of NFT assets
makes it easy for creators to start creating their NFTs, and provides them with the infrastructure they need to succeed. This allows creators to focus on what they do best, which is creating art
k and music – rather than on market management.
This is similar to how IEOs (Initial Exchange Offerings) and IDOs (Initial Decentralized Exchange Offerings) have made it easier for entrepreneurs to start directly on cryptocurrency exchanges. This democratizes access to capital for promising companies.
Mintology provides creators with the ability to mint and list their digital assets for sale to the NFT community. When a seller exhibits an artwork, it will appear on the platform as available for purchase. By exhibiting NFT, artists and creators become part of a thriving community.
What does this mean for artists and creators?
By posting their work on Mintology, artists and creators will be able to create NFTs. They will then be able to place them on Mintology’s carefully curated launchpad and then on the NFT marketplace. They can do this by knocking out artwork directly on the website. Once the NFT is created, anyone can buy it using one of the supported cryptocurrencies on the marketplace at a set price.
Any valuable digital commodity should have one key advantage over its physical counterpart: instant liquidity. This will be possible when the Mintology marketplace launches and artists and creators can mint their assets directly in the NFT launchpad. Next will be the ability to automatically launch them on the marketplace, without having to go through the tedious process involved in self-publishing them.
How it works.
NFT supports the ERC-721 standard, and this standard requires NFT to have a uint256 variable called tokenID. This means that it must have a globally unique variable. Thus, it is not possible for two NFTs to have a common ID. Furthermore, duplicating an NFT becomes a technical impossibility.
This is in stark contrast to traditional marketplaces and social networks, from Instagram to Spotify. If a user uploads a photo or song there, there is no decentralized, unique identifier to tie that resource to their identity. This means that anyone can duplicate it indefinitely, and centralized providers can delete it at any time.
What is the future of NFT?
With the creation and launch of new platforms that allow artists and creators to mint their own unique NFT assets, the obvious question becomes: how much will they be worth? This is where things get really interesting. The value of NFTs depends on a number of factors, including how rare a product is, how much demand there is for it relative to supply. Also on how widely known the creator is in the community (the so-called “credibility factor”).
The market for rare digital collectibles, such as digital trading cards, is valued at billions of dollars a year. Given that the blockchain dog is <a href=”https://cryptobriefing.com/feisty-doge-becomes-most-valuable-nft-ever/”>worth $85 million, we expect these markets to continue to go from strength to strength. Digital art and music are just one element among many industries growing in parallel, such as physical sports cards or sneakers.
Ultimately, NFTs are just a digital representation of an asset, and like all assets, they will have value if there is demand for them. This is regardless of whether it is a plot of virtual land on Mars or something as simple as a painting.
The digital world will become increasingly integrated with the real world, and NFTs are another example of this convergence. Mintology empowers creators by democratizing NFTs and promoting quality in the new digital economy through a selective marketplace.
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