Introducing NFTmall — Where NFT meets Defi and eCommerce
NFTmall- is the world's first Creator Centric, Defi & e-Commerce Powered, Physically orderable NFT marketplace.
NFTs are a hot topic right now since its current market boom, Although the market for digital items and goods is still at the infant stage. Monopolies and international entities were taking advantage of creators/Artists for many years by creating a massive barrier to entry! For example, traditionally, Artists have to physically produce a piece of artwork, get it accepted by a gallery, promote the exhibition and sell it. Also, in the case of a verification test, the authenticity of an Art is determined by an Art expert panel by carrying out costly tests! This complex process involves a huge barrier of entry and hinders creativity; as a result, unpopular yet talented traditional ART creators often don’t get enough exposure and have to market their work instead of focusing on creation.
The traditional approach not only hinders artists but also hinders creativity in general. since the unpopular yet talented artists may not afford the entry requirement to use the various expensive Art galleries. This problem can be overcome using digital art & blockchain technology synergizing Defi and NFT. Blockchain simplifies Digital art/asset creation into NFT and logs the entry of a digital asset/NFT in the blockchain as a token. which can't be counterfeited and creators can be rewarded relatively. It allows talented artists to showcase their talent & provides a level playing field to create and earn royalties in perpetuity. Since it’s a very new concept and the market for digital items just starts to generate, existing top-tier NFT marketplaces do not fully satisfy the needs of their users. They do not solve the issue by having high platform fees to mint, list or trade. And even royalty fees for creators are not automated/independent! and usually chosen by the Marketplace! as well as most of them are not fully decentralised and require a tedious process to mint/list, application and permission. More importantly, none of them offers or Provides a solution to the materialisation of NFT to generate further use cases in the real world. Thus, they act as a monopoly for both creators & traders and possess a high barrier of entry and fail to create a level playing field for their users (creators, collectors and traders).
“By deeply considering the limitations of existing marketplaces, I was staring at the market gap and had to pick up the challenge to provide a solution I called NFTmall”.
“NFTmall is the answer to the existing limitations of the traditional NFT marketplace. It is the world's first Creator centric, Defi & E-commerce powered, Multichain & standard support, Physically orderable, NFT marketplace.”
Our vision is to create a level playing field that fills the gap between unpopular yet talented and popular niche digital item artists. Our solution is a universal platform, which is the common ground for both popular and potential talent all around the world to showcase their work to the world in a very cost-effective and authentic manner and get treated fairly. The platform also bridges the gap between digitized and real-world while allowing real-world use cases for NFTs, by introducing revolutionary features like physically orderable NFT. Users can order any NFTs into physical objects like clothing, printed canvas, collectable cards etc. The platform will also offer the auctioning of NFTs in near future.
Our vision also includes developing a futuristic 3D NFTmarketplace in the coming days called NFTverse/NFTmall 3D, there will be various types of 3D virtual stores like “NFT art gallery, NFT gaming items, Pristine NFT collections, Audio NFTs”, etc. NFTmalls featured creators will have a guaranteed listing of their popular NFTs/collections in the NFT art gallery at NFT verse/NFTmall3D. Also, Popular individual NFT artists or NFT projects will have the opportunity to build/buy their brand-named dedicated store to display & trade their NFTs on NFTverse.Users will be able to immerse themselves in NFTverse with Avatars and will be able to roam around in different stores and make trades of NFTs displayed in those stores. Exploration and business in the first-ever 3D NFT marketplace would start. We also look forward to offering NFTverse in AR (Augmented Reality) and incorporating it into our AR & NFT verification app shortly. We also envision Launching our own Blockchain network in the coming days.
NFTmalls utility & governance Token GEM
Introducing GEM, a utility & governance token to simplify NFT trading & governance of the platform. GEM is spendable on the NFTmall and tradable in exchanges (both Cex & Dex's). It is a Binance Smart Chain-compliant token that allows users to govern, list, trade, earn and own NFTs. The community is composed of people from various walks of life-related to the NFTs or NFT community, newcomers & savvy users in the space, users of various blockchain networks, crypto & NFT investors, all levels of NFT Artists, NFT collection owners, traders, content creators, crypto & social media influencers, celebrities, affiliates, curators, NFT whales, bounty hunters, and curators etc. There is an enormous utility & use case of GEM tokens, which includes governance of the platform, providing liquidity to earn a high percentage of platform fees, holding to earn platform fees, listing & trade NFTs, and many others, as the need arises.
- High Entry Barrier
Existing marketplaces have some high entry requirements like their KYC process, along with high marketplace platform fees for minting and primary & secondary sales, and also a high gas price to list, mint or trade since the majority of top tier marketplaces operate on the Ethereum chain at the moment.
- Limited Access
There is limited access to a marketplace for NFT creators who pay high gas prices and also run the risk of substantial financial loss in the process.
- Royalty issues
Royalty rewards are biased and set by third-party (Marketplace) and not by the creator, thus creators often mint the same NFT in different marketplaces and NFT loses its authenticity & value. Royalty payout to creators is not automated.
- Lack of exposure
Most NFT marketplaces lack exposure to creators & collectors. Artists need exposure to create, share and monetize content.
- Low-quality NFT
Marketplaces get bombarded with low-quality and spammy NFTs, thus making it very difficult for buyers to look for and find rare valuable NFTs.
- Zero utility in the real world
Current NFTs only exist in digital form as a token and there’s no way to display such valuable digital collectibles and prove authenticity and ownership in the real world.
NFTmall’s Revolutionary And Innovative Measures To Overcome The Limitations Of Existing Marketplaces:
Eliminating Barrier of Entry:
We are introducing several creator-centric policies to reduce entry barriers close to zero.
Our measures include:
- Zero minting fee.
- Automated Royalty payout to creators. Creators get full price for their hard work.
- Zero platform/trading fees. Trade with GEM enjoys Zero trading fees & only 2% trading with any other supported token/coin.
- Open to everyone, no permission needed, purely decentralized and creator & community-centric.
- Multichain operational and utilizes various low-gas, high tx speed Chains & excellent gas optimisation is installed for high-gas fee chains to offer the lowest possible gas cost to users.
Exposure to Creators/Artists:
- NFTmall introduces an Affiliate Program that allows Creators to focus on excellent NFT creation instead of marketing.
- Various contest programs will allow new talents to be recognized and to win massive economic gains.
Multi-chain & Standard support
Most of the top-ranked existing NFT marketplaces are built on Ethereum and only support ERC standards, thus limiting the benefits of other chains, like low gas fees and high-speed Transactions! NFTmall solves the issue by collectively supporting Multiple standards and chains. Currently, NFTmall only supports the BSC chain but in the coming days and weeks it will integrate into different chains and explore its opportunities and possibilities(i.e Avalanche, Ethereum, Polygon, Solana) thus NFTmall becomes the very first multi-chain operational & multi-standard support NFT Marketplace in existence!
Community-based Content Curation
NFTmall aims to build a dApp, an automatic detection system for NFT minting on secondary marketplaces as well as introducing copyrighted NFTs. With these techniques, anyone from the community has the opportunity to identify and report with proof, malicious activities such as minting the same NFT on a secondary platform or unauthorized copyrighted digital item minting.
Smart Indexing Engine (NFT Explorer)
We are tackling low-quality spammy NFT problems and providing easy-to-find NFT solutions using a Google-like Smart indexing engine. ”NFT Explorer” - A robust API through which users will be able to find all chains, including Evmos NFTs/ NFT projects using the NFT search engine. Apart from using ourselves, we will also provide this API solution to third-party dapps under conditions such as NFTmarketplace, NFTAnalytics websites, and Various interested wallets willing to show NFTs of various chains in their user's wallet etc.
Other NFTmall Services in a Short while
GEM token Fiat Ramp:
To give the GEM token its well-deserved recognition, and exposure and make it super easy and accessible through fiat for newbies in space, NFTmall will partner with third-party fiat on and off-ramp service providers, where users can make day-to-day purchases or trade GEM with different fiat currencies.
NFTmall Payment Gateway For Non-savvy Crypto Users:
This is an improved UX for newbie users. Our vision is to reach mass adoption by approaching both crypto-savvy & non-crypto users. Therefore, in the future, we plan to implement some opt-in UX enhancements for average users. Savvy crypto users can skip these enhancements if they wish to. We are achieving it through the following;
• A wallet-free experience by utilizing key-free and password-less technology like Ice tea ID
Buying NFTs using Visa, Mastercard or Paypal, the system will connect to 3rd-party services to support payment for non-crypto users. By adding these payment methods, we expected to bring the platform to mass users who are not familiar with crypto payments.
Apart from these, we will also implement different ideas in the coming days and equipped NFTmall with other revolutionary features with an aim to change the whole NFT landscape globally.
NFTmall Website : https://nftmall.io/
NFTmall Official TG: https://t.me/nftmallio
NFTmall News Official TG: https://t.me/NFTmall_newsOfficial
NFTmall Discord : https://discord.gg/fs5HwAWY
NFTmall Twitter : https://twitter.com/NFTmall
NFTmall FB : https://www.facebook.com/NFTmall-101972288642593
To conclude, The NFTmall has already launched the mainnet on Binance Smart Chain.
At NFTmall we would like to invite NFT creators & projects from all around the world to mint, list & trade NFTs on our Super sleek, easy-to-use user interface, state-of-the-art platform.
As well as to ensure the maximum security of the protocol we have audited our smart contracts by industry experts including Certik.
The NFTmall Bug Bounty Program will also launch to identify bugs and critical vulnerabilities in the protocol and smart contracts and up to 5% of the total GEM Token supply is allocated to reward successful bug bounty hunters and white hat hackers.