FOR IMMEDIATE RELEASE
NFTY Token Launches on Uniswap, Brings New Features to Benefit NFT Creators and Collectors
Designed to address problems in the NFT space, NFTY is offering novel solutions to discoverability and quality control.
New York City, New York, September 22, 2021. The global market for Non-Fungible Tokens (NFTs) has grown 1,785% since 2020, during which the total transaction volume was 338 million dollars. It has room to grow, as the fine art and collectibles markets are approximately 400 billion dollars together.
“A lot of talented NFT creators are having trouble being discovered,” CEO Chris Mills stated.“ The signal to noise ratio isn’t right. NFTY incentivizes good work and good taste by putting power into the hands of the participants.”
NFTY is the native token of VLBO, the world’s first luxury NFT auction house. NFTY allows users to advocate on behalf of their favorite items. These tastemakers in turn receive a portion of the proceeds from auctions they’ve allotted tokens towards. This is meant to encourage good judgement and maintain a consistent standard of quality across the VLBO platform.
Cofounder Alyze Sam, a blockchain industry veteran and leading authority on stablecoins, added: “We want to bring out the best in everyone, which is what NFTY does in a completely decentralized way. There are so many amazing creators out there and we want them to be recognized.”
NFTY is being fairly launched. Eight founders have the right to purchase up to 100,000 tokens before the general public has access. The NFTY Protocol Corporation has been permitted to purchase a maximum of 500,000 tokens for air drops, which will be strategically gifted to celebrities, entertainers, and other influencers to expedite adoption. Beyond this, however, no entity or person has a privileged claim to the tokens. All NFTY are earned through staking or purchased from a liquidity pool. The initial launch is taking place on Uniswap and is being funded by international gaming company, Hitcents.
The initial NFTY liquidity pool resides in a Uniswap V3 smart contract. The token’s infrastructure makes use of modular smart contracts on Ethereum for easier maintenance, upgrades, and security audits. All of this is verified on Etherscan. The NFTY Protocol is open source. All transactions that take place on it are available for review by industry professionals and the general public.
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NFTY is the first reputation-based ERC-20 utility token for NFTs. NIFTY Protocol to stake, advocate, and vote. Alongside VLBO, the world’s first luxury NFT auction house, NFTY is offering decentralized solutions for NFT creators and collectors.