AdaSwap announced the launch of ADANFT – an exclusive NFT marketplace that aims to provide value for artists, buyers, and ASW token holders. ADANFT will include a unique voting system and a tiered structure for its users to avoid common issues of NFT marketplaces.
Additionally, ADANFT will generate rare and ultra-rare NFT exclusivity via its novel Tier System. ADANFT users are presented with three tiers at launch based on their ASW token holdings – Silver, Gold, and Platinum. The tier system brings more value to these exclusive NFTs as only users with higher tiers are able to purchase them. Eventually, the tier system will evolve – implementing user activity, vote participation, and other metrics to provide a strong incentive for the community.
AdaSwap’s Chief Executive Officer Lennon Qualmann said in a statement “In the pursuit of gamifying the AdaSwap DEX we looked towards the new frontier of blockchain technology and changing trends, the NFT realm fit perfectly.”
Furthermore, the ADANFT Voting System will ensure that only the highest qualities of collections and artworks are curated. The system provides a mechanism for users to vote for their chosen NFT art each week. As a result of the votes, community-selected moderators will process the top artworks and provide the greenlight to new collection drops. This ensures that only the top artworks will grace ADANFT – free of inauthentic rip-offs of other NFT collections.
Through ADANFT, AdaSwap aims to become the biggest innovator within the Cardano ecosystem. AdaSwap plans to grow Cardano’s relevance in the NFT space, and also bring more users into AdaSwap’s ecosystem. Furthermore, AdaSwap will create more incentives to hold tokens to generate greater value for the ASW tokens tradable on GATE.IO.
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Source: Cryptocurrency - investing.com
