In February, the NFT market skilled its rebirth. For the primary time within the final 8 months, buying and selling quantity is rising and reached a report determine of $2 billion. This was largely because of the exercise {of professional} merchants at NFT-marketplaces, in addition to modifications within the coverage of buying and selling platforms in relation to consumers after the launch of the Blur aggregator. The first to reply to market modifications was the brand new NFT ecosystem LovePower, which creates a essentially new setting for buying and selling non-fungible tokens. How the ecosystem works and why the startup is prone to develop into a unicorn within the close to future is mentioned under.
The Love Power Ecosystem: help for merchants and artists
The concept of a essentially new NFT ecosystem emerged again within the disaster yr of 2022, when the principle issues of the market have been clearly seen not solely to merchants but in addition to creators of non-fungible tokens. The most important “red flags” have been the confusion with royalty funds and commissions to creators, the shortage of copyright safety for artists, and the tough entry of customers to buying and selling. A crew of fans determined to alter the foundations of {the marketplace} and created a brand new decentralized ecosystem that included LovePowerCoin, LovePower NFT and Love Power Marketplace.
“Our concept is fundamentally different from existing ones on the market. First, we are ready to support creators by holding special contests and events for NFT creators. The level of rewards can be as high as 1.5 ETH. Secondly, we use fixed commissions and royalties so that each trader or creator benefits from the transactions,” commented the Project Manager of the Love Power Ecosystem Snezhana Kolesnik.
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At the second the corporate has already launched a local Love Power Coin token, which can function the unit of account on {the marketplace}, and a part of the income from the sale of unique NFTs will likely be used to offer a set of non-fungible tokens, in addition to for charity. As Snezhana Kolesnik explains, the challenge crew intends not solely to create higher situations for buying and selling, but in addition to actively help proficient artists, designers, musicians and different creators.
“We chose the name “LovePower” as our team intends to support the NFT industry by donating part of the profits to the artists themselves. This will help them develop in the field of digital art,” mentioned Snezhana.
Love Power NFTs – tokens crammed with love
In 2022, Love Power collaborated with well-known European artists and designers to create its NFT assortment, which is already traded on main marketplaces equivalent to Rarible and OpenSea.
LovePower Coin NFT assortment at OpenSea
“We held a contest for creators with money prizes to motivate artists to join the community and create more and more artwork,” says the Project Manager.
NFTs from the Love Power Coin assortment may be bought right here.
Love Power Marketplace is a brand new market for handy gross sales and purchases
In the primary half of 2023, the challenge crew intends to launch its personal Love Power Marketplace, which can provide consumers and sellers handy cooperation situations.
“We studied existing experience in the marketplace and took into account the wishes of artists and buyers. Based on this, Love Power Marketplace will provide favorable conditions for artists in the form of a fixed commission and royalties even from repeat sales, and we also intend to conduct ongoing contests and drawings among NFT creators”, – commented Snezhana Kolesnik.
For consumers, Love Power Marketplace is able to present a easy registration and safe storage of funds. In addition, individuals can have entry to a world neighborhood of artists {and professional} merchants.
“For traders, we are ready to offer fast and reliable transactions, as well as transparent analytics on every purchase,” says the Project Manager of Love Power Ecosystem.
In the close to future, the corporate will maintain an airdrop for the loyal neighborhood, the place customers can get challenge tokens for finishing easy duties. More details about the challenge right here.
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