Features of Social NFT Marketplace

 


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 market place must also be registered to the SOCIAL NFT Marketplace 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.

Non-Fungible Tokens (NFTs) become easy and accessible with SOCIAL NFT Marketplace in its ecosystem. By this, you are allowed to upload social media images and create the NFTs within a secure and decentralized manner. With the contribution of NFTs, now social media users may be able to generate passive income from Social Media and it provides another platform for their posts. 


FEATURES OF SOCIAL NFT MARKETPLACE

1. 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.

2. 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.

3. 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.

4. On-Chain governance

The SOCIAL Management 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

5. 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.

6. 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.

SOCIAL NFT GOVERNANCE

The project allows the stakeholders to vote, amend or change the base protocols on the platform. Majority token holders will be given rights on the platform and community ecosystem such as determining outcomes of crucial decisions, key parameter adjustment such as fee rate and community-based initiatives. 

THE MARKETPLACE

SOCIAL NFT Marketplace will provide a crypto-powered digital item and trading platform for users to build, purchase and sell NFTs traded against the SNFT token, and to also provide additional services including such auction listing, governance mechanisms, trade history tracking, based on user opinions and more. 

The objective of the SOCIAL NFT Marketplace is to provide social media users with a forum to sell, purchase or exchange their digital images.

POTENTIAL MARKETING FOCUS

NFTs are extremely flexible and productive in their use, from digital artwork to digital event tickets, and while NFTs have a wide range of uses and categories, SOCIAL NFT Marketplace will emphasize its attention only on one primary area: social media items.

MARKET GROWTH POTENTIAL

As far as the NFT market, it is still a young market, but it is growing year after year, with new NFT ventures entering the market every day. Blockchain direct market data and statistics from DappRadar.com and for three major digital markets, there has been a significant increase in both trade volume and active visitors over the last several years.



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.

   AUTHOR

FORUM USERNAME: herlambang18

FORUM PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=2609871

TELEGRAM USERNAME:@herlambang18

BSC WALLET ADDRESS:0xFd005Ca8e9eDfa0bDC68C75B9B3BBDB2A39c58dA

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