Overview:
We follow our social media personality, favorite artist, celebrity, tattoo artist, photographer to see all the awesome they are doing and creating, rather than just following them you can just own a piece of their creation. With the Social NFT marketplace, you can buy digital items from your favorite social media page. Buy your own digital items as Non Fungible token also known as NFT's.
What is NFT?
Non-Fungible Tokens are tokenized versions of non-fungible assets like artwork, real estate, collectibles. Non-fungible tokens can be used to create verifiable digital scarcity, as well as digital ownership. The specialty of non-fungible tokens revolves around three (3) concepts namely; Unique, Rare & Indivisible.
Fungibility refers to a currency's ability to maintain a standard value and uniform acceptance.
With the recent surge of the entire crypto world, between Defi, Altcoins, and NFTs, many creators and influencers have been able to monetize their work, specifically through the NFT marketplace. However, there aren’t any platforms that support social media personalities and businesses to their max potential.
What is Social NFT Marketplace?
The SOCIAL NFT Marketplace is a marketplace for social media users to create NFT’s (non-Fungible tokens) of their items or images and sell them on the platform. SOCIAL NFT Marketplace users are able to add single or multiple items on the marketplace to sell. Users looking to purchase on the marketplace must also be registered to the SOCIAL NFT Marketplace.
Features of Social NFT Marketplace
- Decentralized and non-permissible — The SOCIAL NFT Framework is designed to optimize the benefit (and minimize risks) of digital asset ownership and trading. Our core technologies depend strictly on the blockchain, automated smart contracts.
- Blockchain Protocol — The SOCIAL uses the Binance blockchain and protocol, with a native token named SNFT. It will share the security advantages of the entire Binance network, avoiding the possibility of a consensus attack.
- Less Costly Fee Exposure — There will be some charges applicable like application usage fees for trade execution, NFT creation and listing, NFT auctions, and network fees for SNFT transfers will apply.
- On-Chain Management governance — The SOCIAL NFT Marketplace governance allows stakeholders to seamlessly amend the basic protocol and change essential framework parameters to meet the changing needs of the environment and the community
- Client Partnerships — SOCIAL NFT Marketplace provides a UNIQUE platform for users who want to bring their digital products to the NFT marketplace where they can sell their own images or items on a marketplace with established business models.
- Incentivization and Rewards — User Base Incentivization and Rewards — Community is almost everything, and the SOCIAL NFT Marketplace will focus entirely on rewarding early adopters for their valuable contributions through various incentive and reward schemes designed to support successful creators, sellers, and buyers. In addition to the incentives for use, the SOCIAL NFT Marketplace uses a Proof of Stake model that can offer its own rewards for being a network validator.
What is SNFT token?
All transactions on the SOCIAL NFT Marketplace are conducted using the platform's SNFT token which is used as a utility token on the platform. The SOCIAL NFT Marketplace ecosystem combines the SNFT utility as a native for both protocol token and application token
SNFT Usage
- Network Fees — SNFT is the core base digital currency for paying the transaction charges.
- Governance — SNFT is often used to vote on policy-making referendums on governance. SNFT token holders can participate in the SOCIAL NFT ecosystem policy-making process by voting with SNFT. The more SNFT, a holder has, the more and more power to vote they have
- Payment — The Primary exchangeable counter digital currency is SNFT for all trades on the Marketplace.
- Fees — All fees for the NFT Marketplace applications, including listing fees are paid with SNFT.
- Rewards — Rewards distributed and contributed to all uses will be denominated in SNFT.
- Membership — In addition to engaging in governance, SNFT token holders would enjoy other rights and protections within the ecosystem, which non-holders will not have access to. For example, SNFT holders will pay reduced service charges, and increased listing exposure.
How Does it Works?
- Anyone can register on the SOCIAL NFT platform, you are able to buy & sell digital items from the platform. Buy your NFT’s or your favorite celebrities, artists, or personalities. All transactions on SOCIAL NFT marketplace are conducted in the SNFT token or BNB coin.
- If you’re a Youtuber, Instagram influencer, celebrity, or whatever, The Social NFT Marketplace is for you! Upload, mint, and Sale in on the Social NFT platform.
- You will create your own decentralized wallet that only you have access to. One account to manage all your digital items, accessible from any device, anywhere, anytime Security: Protecting your digital items is our top priority. Not only is security implemented in all levels of our platform, but our governance structure also certifies each creator and seller.
Market Members
Interacting with the marketplace requires only a Binance-compatible crypto wallet, a browser, as well as a click of a button. There have been three main means for users to engage in the SOCIAL NFT Marketplace.
1. NFT Creators
In order to promote an active and vibrant market, SOCIAL NFT Marketplace has a refined NFT creator that enables customers and companies to efficiently and simply mint their content, ideas, services, and products into NFT tokens for listing on the SOCIAL NFT Marketplace.
2. Sellers
Anyone with existing NFTs purchased on the SOCIAL NFT Marketplace may bring those tokens to both the SOCIAL Marketplace by connecting the crypto-wallet and purchasing them for their desired price. Consequently, for rare items, items that have been highly sought for, or items that require a fair price discovery, sellers may create an auction that will be handled automatically on the SOCIAL NFT blockchain according to the initial criteria they have.
3. Buyers
Buyers are able to search and purchase items with SNFT tokens. The SOCIAL NFT Marketplace will support its SNFT token as an exchange counter currency.
SNFT Ecosystem
The SOCIAL NFT Marketplace ecosystem combines the SNFT utility as a native for both protocol token and application token.
SNFT Usage
The SNFT token is used in seven main ways:
- Network Fees — SNFT is the core base digital currency for paying the transaction charges.
- Governance — SNFT is often used to vote on policy-making referendums on governance. SNFT token holders can participate in the SOCIAL NFT ecosystem policy-making process by voting with SNFT. The more SNFT, a holder has, the more and more power to vote they have
- Payment — The Primary exchangeable counter digital currency is SNFT for all trades on the Marketplace.
- Fees — All fees for the NFT Marketplace applications, including listing fees are paid with SNFT.
- Rewards — Rewards distributed and contributed to all uses will be denominated in SNFT.
- Membership — In addition to engaging in governance, SNFT token holders would enjoy other rights and protections within the ecosystem, which non-holders will not have access to. For example, SNFT holders will pay reduced service charges, and increased listing exposure
Conclusion
Social NFT Marketplace is revolutionizing the NFT industry by connecting an NFT marketplace with social media outlets. It provides social media users and businesses a platform to sell their images to earn passive income. Secured with blockchain technology. Social NFT uses Binance Smart Chain’s (BSC) BEP-721 Protocol. SOCIAL NFT Marketplace promises to promote this technology to mainstream audiences and to give everyone the ability to invest in NFT ownership as well as to expand a vibrant ecosystem.
Read More:
- Website: https://socialnft.market/
- Twitter: https://twitter.com/NftSocial?s=20
- Instagram: https://www.instagram.com/social.nft.marketplace/
- Telegram Chat: https://t.me/SocialNFT
- Youtube: https://www.youtube.com/channel/UCAAV_8YwHqTqQgmK3z5jmcw
- Medium: socialnft.medium.com
- White paper: https://socialnft.market/whitepaper.pdf
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