NFTs have become a vital part of the crypto space. Furthermore, NFTs ranked among the biggest sources of revenue for crypto in 2021. So, AdaSwap’s intention to move into the NFT space shows huge ambition.
AdaSwap, a Cardano-based DEX, has announced its plan to dive into the NFT space. The platform will launch an exclusive NFT marketplace that will generate revenue for artists, purchasers, and $ASW token holders. In this article, you will how this NFT marketplace is launching a new voting system for art curation.
Moreover, AdaSwap has been in development for over a year and has secured several partnerships. It includes top companies like Shima Capital, Stardust, iAngels, Onchain Capital, and Pluto Digital. The main goal is to become an innovative company in the Cardano ecosystem. Therefore, launching the ADANFT is a huge step toward that goal.
ADANFT Implements a New Voting System for Art Curation
AdaNFT will avoid some of the most prevalent flaws that affect most popular NFT marketplaces. Although the NFT space is lucrative, it is not without faults. Most artists complain of impersonation. Hundreds of imposters mimicking popular NFT collections like the Bored Ape Yacht Club plague several NFT platforms. Such deceptive situations lead to user dissatisfaction.
Seeing no originality off late? 🙈🙉🙊
We have got your back! 😎#ADANFT is launching soon with our curated collection of exclusive #NFTS 💥🚀💯
No Knockoffs! No fakes!
Tag 3 #NFT enthusiast to let them know#cryptocurrency #cryptotrading #CardanoADA #CardanoNFTs pic.twitter.com/PYjwLoxmNY
— AdaSwap – The next-gen Cardano DEX! (@adaswapapp) March 25, 2022
AdaNFT will adopt a unique voting system and a meticulously crafted tier structure for users.
Speaking on the new launch, AdaSwap CEO Lennon Qualmann said, “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.” He added, “We are aiming to change the way NFTs interact with traditional finance protocols as well as changing the way NFTs are traded by bringing forward new and exciting ideas.”
Also, AdaNFT’s voting system would give users the chance to ensure that only the best artworks and collections would get curated. Users would get the chance to vote for their best NFTs weekly rather than through a random process. Also, moderators selected by the community will assess the finest artworks.
Moreover, they will permit new collection releases depending on the outcomes of each weekly poll. This system would ensure that only the most distinctive and intriguing art will feature on ADANFT, putting an end to cases of impersonation.
AdaNFT Will Add Value to Rarer NFTs
Furthermore, AdaNFT will utilize its innovative tier system to generate unique and highly-rare NFT exclusivity. The platform will divide its users into three levels upon launch. AdaNFT will assess users based on their $ASW token holdings and group them into Silver, Gold, and Platinum ratings.
Also, exclusive NFTs sold on AdaNFT will receive more value. This is because users with higher tiers can purchase them. Additionally, the tier system will expand with time to incorporate user activity, vote involvement, and other indicators. This will give users a good reason to participate and stay active on the platform.
Are you ready ? 😎 pic.twitter.com/KruJKAnFAI
— ADANFT (@adanftapp) January 8, 2022
More About ADANFT Marketplace
AdaNFT provides a solution to the problem of high gas fees that most NFT marketplaces connected to the Ethereum chain suffer. Since AdaNFT runs on Cardano, it enjoys the platform’s cheap cost. Also, users have no control over listed collections on most existing marketplaces. However, AdaNFT addresses this lack of decentralization.
The launch of AdaNFT would increase Cardano’s presence in the NFT marketplace. Furthermore, it would attract more users to AdaSwap’s ecosystem and increase the value of the $ASW tokens by providing more rewards.
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