NFT (non-fungible token) seems to be on the table of trending keywords in crypto today and this article will discuss an amazing NFT platform. Just in case you did not know what an NFT is, It can be said to be a unit of data stashed on a digital ledger, called a blockchain which verifies a digital asset to be unique and hence cannot be replaced by another.
NFT can be traded to make a huge profit. It has been around since 2014 and was brought into the limelight in 2017, in line with the game "cryptokitties", after which was later acquired by game developers to enable them to win in-game items. That been said, let’s discuss a pristine NFT platform whose goal is to take the non-fungible token to a whole new step; let me enlighten you on StartFi.
What IS StartFi?
StartFi, which is an abbreviation of Start Finance is an NFT powered platform that has a goal to empower content creators with tools needed to incubate, control, and fund their content creation efforts while engaging their community for response and support.
StartFi’s main objective is to initiate the NFT fundraising procedure. It makes use of decentralization which is offered by blockchain technology as it also gives the community and fans maximum involvement to share and give revenue.
How It Works
The StartFi platform concept majorly involves the content creators, the StartFi platform, and the community/fans.
Content creators: They can mint their NFTs with the help of StartFi network to produce unique digital assets, endow fans and share rewards.
Fans & community: They show their support by facilitating the artist, partaking in fans get together, raising funds, upvote design, and participating in other creative activities. In return, fans will be honored with special digital assets.
The StartFi platform comes in by providing INO (Initial NFT Offering) which gives content creators the ability to engage communities by issuing NFTs. Some other roles played by the StartFi platform are;
- Digital rights management: This is a method employed to secure digital content from unauthorized use.
- Fan token insurance: A fan token is used to encourage fans to influence the creators for forthcoming content. The platform makes sure it’s insured.
- Monetization: This simply means changing things into assets, revenue-generating activities as well as money.
The platform also provides cross-promotion, trusted creators, partner management, etc.
Core Features Of StartFi
- Secret auctions: Here, there is no public listing, creators or influencers create private campaigns with a particular link to safeguard their privacy.
- INO (Initial NFT Offering): Content creators are capable of raising funds by marketing NFTs for their products.
- Governance Entente: Different aspects of the project governance are open for token holders to take part in.
- Reliable pools: NFT listing with KYC and whitelist integration is sure.
- Interoperability: A platform congenial with existing blockchain that differs following the capability of incorporating future blockchains.
- An automated market maker(AMM)+ NFT DEX to make it easier for crypto exchange on ethereum.
With these uncomplicated procedures, fast funding, and releasing mechanisms, cash flows will surely reach content creators, celebrities, and influencers.
STFI (StartFi Token)
STFI is the utility token for the StartFi platform. This token will be vastly used for all transactions, rewards, and launchpads. STFI’s main function is to aid token holders to gain rewards from pools distribution revenue and NFT transaction fees, fans will also be able to participate in voting for new proposals, assisting creators on the platform, and adding new features using STFI.
The token distribution for STFI is as follows;
Token for sale - 30%
Liquidity fund - 10%
Community - 20%
Team and advisors - 15%
Foundational reserve - 10%
And Marketing - 15%
Moreover, STFI can also be earned by getting involved in some social media tasks and taking part in the StartFi bounty program.
StartFi is that NFT platform where content creators are assisted to raise funds for their content. It is also a platform that caters to the ever-changing launchpad and lauchpools. Adding to that, tokenizing game assets is a game-changer because it allows the transfer of tokens between different games and players through NFT specialized blockchain marketplaces.
STFI also gives the token holders the authority to cast votes in a decentralized autonomous organization (DAO). Lastly, StartFi offers high security to the operating system and users' assets. It is sure to be the best platform for NFT trade.
Disclaimer: This article is solely for marketing purposes. It is advised that you DYOR (do your own research) before investing into any project.
Written by Chris Barth