There has been a lot of hype over the last few months with NFTs of various digital artworks fetching large sums of money.
Is there any substance or merit behind NFTs, or is this just a fad?
Let’s face it, our species is inherently very greedy and opportunistic. So, it is crucial that everything is given adequate scrutiny.
While there are tangible benefits for artists, collectors, and users in general, there has been a disproportionate influx of retail investment from many who don’t even grasp the application of NFTs.
What are NFTs and what can they do?
Digital assets can be divided into two main categories: fungible and non-fungible.
The first most common form of fungible assets are national currencies where my $1 can be substituted for your $1. They are of equal value, characteristics, and divisible.
Whereas, a non-fungible token is a digital asset with a unique identity that can be used to represent another digital asset, virtual property, art, tickets, and more. Another way of looking at it is as a certificate of authenticity showing the owner and past owners where applicable.
The utility and trust which NFTs deliver through blockchain technology have revolutionized how many artists are selling their work and supporting themselves. Therefore, while there may be some pull-back with regards to the NFT trend in the mid-term, the utility and value are real.
NFTs are here to stay well into the future.
What are the problems in the NFT space and how does libra.codes address these problems?
While there are many NFT platforms at the moment of writing, most of them with high fees, which can not only be too convoluted at times but also present a lack of flexibility of cryptos to transact with.
LibraCodes prides itself on being a platform which prioritizes stakeholder value by allowing artists to tokenize their visual art, music, or any other multimedia for FREE!
With HRC-721 & HRC-1155 NFT token standards readily available, artists will be able to create their NFTs at a maximum of 100MB per file.
Furthermore, users on the platform do not have to pay anything with the native currency, Htmlcoin, even if it is doing all the work in the backend on the Althash blockchain. But instead, users will have a list of more than 25 cryptos to choose from, which is also growing based on request.
Unique Selling Points of libra.codes:
-Zero minting, GAS & deployment fees.
-Only a 2% flat fee on NFT sales.
-A growing list of cryptos to transact with
The launch date of libra.codes has been set for July 4th, Independence Day in the US. This day has been chosen to reflect the independence the founding team wishes to instill in artists worldwide, by providing a platform that drives utility and value to its stakeholders.
The blockchain workhorse behind the scenes as well as the teams behind libra.codes are Htmlcoin and Althash.
Htmlcoin is the gas that fuels all the transactions on the Althash blockchain, and the team has a relentless desire to push blockchain utility to the world where it can make a difference.
NFT Platform: https://libra.codes/
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.