Introducing NFTmall — Where NFT meets Defi and eCommerce

NFTmall- is the world's first Creator Centric, Defi & e-Commerce Powered, Physically orderable NFT marketplace.

NFTmall- Where NFT meets Defi and e-Commerce

Intro

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, creators often don’t get enough exposure and have to market their work instead of focusing on creation.

Traditional Art Gallery

The traditional approach hinders creators, but it also hinders creativity in general since younger artists may not afford the entry requirement to use the various platforms. This problem can be overcome using blockchain technology to synergise Defi and NFTs since It simplifies ART creation in NFTs and logs entry of an ART piece/ NFT in the blockchain, which cant be counterfeit and rewarded relatively. It allows artists/creators to provide a chance to create and earn royalties in perpetuity. And thus create a level playing field for talented individuals. Since it’s a very new concept and the market for digital items starts to generate. Existing top tier digital items / NFT marketplaces do not fully satisfy the needs of their users. They do not solve the issue by having high platform fees to mint or list, Primary and secondary sells, and even royalty fees for creators are not independent usually chosen by Marketplace! also, most of them are not decentralised and require a tedious process, application and permission. More importantly, none of them offers or Provides a solution to the materialisation of NFTs! Thus, they act as a monopoly for users and possess a high barrier of entry and fail to create a fair & 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.”

NFT materialisation service.

Our Vision at NFTmall

Our vision is to create a level playing field that fills the gap between traditional and niche digital item artists. Our solution, a universal platform, is the common ground for 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 now order any NFTs into physical objects like clothing, printed canvas, collectable cards etc.

The platform will also offer the auction of NFTs once we get popular in near future.

Our vision also includes developing a futuristic 3D NFTmarketplace in the coming days called NFTverse, where 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. 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

We are introducing a native token to simplify NFT trading and collections. Our native token, GEM is spendable on the NFTmall and supported by secondary markets. It is a Binance Smart Cain compliant token that allows artists and collectors to buy, sell, earn and own NFTs. The community is composed of people from various walks of life related to the NFTs or NFT community, newcomers in the space, users of various blockchain networks, crypto & NFT investors, all levels of NFT creators/Artists, NFT collection owners, traders, content creators, crypto & social media influencers, celebrities, affiliates, curators, NFT whales, bounty hunters, and curators etc. can use the token for providing liquidity to earn a high percentage of platform fees, holding to earn platform fees and collecting NFTs, and so many others, as the need arises.

Limitations Identified

  • 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 creators who pay high prices and also run the risk of huge 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 the different marketplaces and NFT loses its authenticity & value.

  • Lack of exposure

Most NFT marketplaces lack exposure to creators & collectors. Artists need exposure to create, share and monetize content.

Problems of Existing Marketplaces
  • Low-quality NFT

Marketplaces get bombarded with low-quality and spammy NFTs, thus making it very difficult for buyers to look and find rare valuable NFTs.

  • Zero utility in the real world

Current NFTs only exist in virtual digital form. There’s no way to display such valuable digital collectables 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 to zero. Our measures include:

  • Zero minting fee
  • Zero primary sale fee. Creators get full price for their hard work.
  • Lowest platform fees in the NFT space, only 2% for sales and only 1% if $GEM is used as a payment method!
  • Open to everyone, no permission needed, purely decentralized and creator & community-centric.
  • Multichain operational and utilize Binance Smart Chain (BSC) for low gas price to users.
Solution NFTmall

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 supporting collectively 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 mobile App fiat on a ramp service provider, where users can make purchases or trade GEM straight with different fiat currencies.

NFTmall Payment Gateway

NFTmall Payment Gateway For Non-Crypto Users:

This is an improved UX for non-crypto users. Our vision is to reach mass adoption by approaching non-crypto users. Therefore, in the future, we plan to implement some opt-in UX enhancements for normal users. 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 credit cards, 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 payment.

Apart from this we will also implement different ideas in the coming days and equipped NFTmall with other revolutionary different features aim to change the whole NFT landscape globally.

Socials:

NFTmall Website : https://nftmall.io/

NFTmall Official TG : https://t.me/nftmall

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/

Closing remarks

To conclude, The NFTmall has launched on Binance Smart Chain and we need your help to ensure the security of the protocol! The NFTmall Bounty Program is launching to identify bugs and critical vulnerabilities in the protocol and smart contracts. Up to 5% of the total GEM Token supply is being allocated to reward successful bounty hunters and white hat hackers.

Also, The platform is live (Beta) for testing ATM. At NFTmall we would like to invite Creator/artists all around the world to mint & trade NFTs on our Super sleek and easy user interface, State-of-the-art NFTmall Marketplace platform.

Security-Bug Bounty, Hackathon

MD Rakib Ahamed

Founder & CEO

NFTmall.

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