NFT Marketplace to see a new entrant HUP.LIVE with listing on PancakeSwap on 15th June, 2021
As we have all witnessed, there has been consistent and rapid development in terms of growth and awareness in the cryptocurrency market. Crypto has paved the way to showcase easy ways to multiply your money. NFT's being a unique unit of data provides ownership and multiple blockchain’s support it, the majority of them being a part of the Ethereum blockchain. NFT is a digital asset and functions like cryptographic tokens.
The appearance of the NFTs is allowing multiple artists to register their digital works with the help of blockchain technology and hence convert them into valuable asset. With the original digital copy of the art concatenated with the blockchain, the digital asset acquires a unique cryptographic hash number that provides the original a form of the source. The more popularity an art piece gains, there will be an increase in the number of people will want to purchase rights to it, which could mean coffee cups, news clips, t-shirts and more. Art has always been a material that is irreplicable and unchanging. NFTs is like a welcoming introduction to the various possibilities of art in a digital era. The main concern is that the NFT markets by themselves look into the blueprints of blockchain to aid in securing the environment and helping in the exchange of NFT at huge numbers. It is critical to maintaining multi-factor authentication, maximum awareness and continuous auditing, to help nurture this amazing new evolution in the digital era.NFT’s are created when the blockchains records of cryptographic hash, which verifies the dataset to be unique. A digital signature is used as a method of authentication to track the ownership of NFT. Digital art has been an early use case of NFT’s and is similar to autographs. Their unique identity is verified through the blockchain and the NFT’s comprise the metadata which can be processed through the cryptographic hash function. Buying and selling of NFT's have now become easier with the world's first platform for artists, the HUP.life. Minting and selling are carried out through centralised platforms like OpenSea and Mintable. CeNFT(Copyright Enabled NFT) is used for mining purpose. Blockchain and its strong nature make it all the more lucrative for artists in comparison to physical selling. The platform can be a boon to visual artists, if only they decide on making the pre-eminent use of it.
Source: https://www.domusweb.it/en/news/2021/05/13/how-to-mint-your-own-nft-in-5-simple-steps.html
When a buyer decides to sell the work, the artist gets a share of the sale price through HUP's own HUP. The selling of the copyright complies with the law. MARKET NFT platform. The platform can be used to monetize your NFT'S and earn. $HUP can be earned through lending your work to various galleries, advertisers and other platforms. Apart from acquiring a 5% on every sale, resale and licensing deal, the artists have an idea upon future deals by other purchasers. The metadata file is hosted on a cloud system to ensure long-standing and superfluity. If an artist does not wish to transfer the copyright, he may choose to keep the ghostNFT. GhostNFT represents complete ownership with regards to the product. HUP.life aims to set standards for socially conscious token projects. During the launch phase, $HUP will be released on PancakeSwap on 15th June where its liquidity is locked and prevent project abandonment due to the centralised structure.
PancakeSwap is an AMM (Automated Market Maker) and a decentralised finance application. The application allows users to facilitate token exchange, liquidity and earning fees. The AMM system provides liquidity to the system and facilitates easy exchange. The PancakeSwap was launched in September 2020 and acts as a decentralised exchange platform. In the AMM model, the users trade against the liquidity pool. The users after depositing their wallet funds into the trading pool receive liquidity provider tokens. The PancakeSwap is a Binance Smart chain based decentralised exchange platform. The Binance Chain is a fast decentralised and secure asset exchange on the highly performing matching engine which was built on distributed consensus. The Binance smart chain is the dual chain architecture that would empower its users to build their decentralised applications and assets on one blockchain and takes advantage of the fast trading to exchange on the other. Wallets that have 0.25% of the total supply are only allowed to sell. HUP believes in fair launches which means that post-launch, anyone can buy 100 $HUP’s. Community airdrops are given as rewards to the community members. The company chooses to use staking platforms for better opportunities than having one made for themselves.
Source: Forbes
In the graph above we see heavy traffic in the NFT marketplace in the recent times, and it seems like a uphill trend line where its certain that the market sentiment and interests are rising towards NFT market. HUP’s CeNFT will surely further push towards growth in the market.
HUP.LIVE Website: https://www.hup.life/
bounty0x username: @pka11
A sponsored article written for a bounty reward.