NFT Tech to bring a new suite of tools to NFT creators as it quickly approaches launch
NFT Tech is developing the next generation of NFT marketplace infrastructure. Both the NFT Tech token listing and platform launch are quickly approaching and scheduled to occur within the next four to six weeks. The platform will launch alongside the NFT Tech token listing, allowing NFT Tech investors to immediately use their tokens in the NFT Tech ecosystem.
NFT Tech will launch its own blockchain with an infrastructure that allows users to easily create NFTs with no fees. Such a feature is widely demanded as NFT assets continue to proliferate and rise in value. Moreover, NFT Tech will enable creators to hold auctions for their assets, with bidders progressively raising their purchase price until an eventual winner acquires the asset.
NFT Tech-created assets will originally preside on the NFT Tech blockchain. However, NFT Tech users will have the option to transfer the asset to wallets on either the Ethereum blockchain or the Binance Smart Chain via bridge technology. All of this functionality will be included in the initial release of the NFT Tech platform.
As the project evolves, NFT Tech will aim to restructure the broader NFT marketplace. NFT Tech will develop its NFT Tech Liquidity Engine that can be adopted by any of the incumbent NFT exchanges and platforms to tap into greater liquidity. The NFT Tech Liquidity Engine will introduce market makers, bid-order books, and liquidity incentives into the currently fragmented NFT marketplace.
NFT Tech is also working with Orion Protocol to introduce the first NFT Oracle. NFT Tech will source historical data from cutting-edge trading terminal Orion Protocol to launch the first oracle that will derive pricing for NFT assets that is grounded in real trading data. Data inputs like historical sales, trading volume, NFT creator background, and the trading history of the creator will be used to model valuations for NFT assets. The NFT Tech Liquidity Engine and NFT Oracle will be implemented in future iterations of the NFT Tech platform and hold the potential to radically change the structure of the NFT marketplace.
There will be a maximum of two weeks between the NFT Tech token listing and the platform launch. This breaks the trend of most blockchain platforms, where token listings precede platform launches by several months or even years. For instance, the Filecoin network took three years to launch its platform after carrying out a $257 million token sale.
NFT Tech will not follow the poor precedent set by countless previous projects. The NFT Tech team is committed to quickly providing NFTT token holders with an ecosystem where they can utilize their asset. This will also be important to NFT Tech token market dynamics, creating a sustainable source of demand for the token. As the NFT Tech platform-token dual launch approaches, the tools available to NFT are on the precipice of a major improvement.
