NFT-Maker ($NMKR) will be the next LCX Launchpad project, and LCX is very excited about this. We wanted to give an overview of the project ahead of NFT-Maker’s token sale on LCX Launchpad to better illustrate the incredible innovation and vision behind NFT-Maker, as well as highlight the significance of their $NMKR token launch.
NFT-Maker intends to disrupt the NFT market by applying Cardano blockchain technology to create a full service NFT ecosystem that will include Payment gateway, Whitelable drop and Marketplace. The NFT-Maker ecosystem’s official token is $NMKR, and is intended to serve utility within the NFT-Maker ecosystem. Starting from minting API as the technical foundation, NFT-Maker continues to build tools and services to make it as easy as possible for you, your customers and the crypto community to engage with NFTs.
Let’s take a deep dive into NFT-Maker.
NFT-MAKER, at its core, provides infrastructure for NFT projects, enabling creators, brands, companies, and artists to concentrate on what they do best: being creative. We make NFTs available to everyone by offering an end-to-end ecosystem that adjusts to the various web3 use cases and needs.
MAKING NFTS ACCESSIBLE TO EVERYONE
EMPOWERMENT COMMUNITY DECENTRALIZATION
The NFT space currently faces three major challenges: high entry barriers, sustainability concerns, and verification issues. The extremely high transaction fees, as well as the initial knowledge required to operate in an ecosystem geared toward those who are already well acquainted with Crypto, are the high barriers to entry.
In terms of sustainability, it has become evident that the Proof-of-Work consensus algorithm used among Blockchains as their core protocol element consumes an enormous amount of energy.
NFT-Maker is very concerned with bringing NFTs to the world while also ensuring that the infrastructure they are building is as environmentally friendly as possible. NFT-Maker sees these as obstacles to be overcome, which they believe is possible with our holistic approach.
They will be the mediator between NFT suppliers and their customers, offering an easy-to-use and EU-compliant product ready for the world by focusing on energy-efficient Proof-of-stake blockchains like Cardano. To address the verification concerns, NFT-Maker will implement a hybrid of a token verification mechanism based on game theory to reduce bad behavior and Digital Identity tools to allow users to demonstrate their authenticity.
NFTs are, at their core, the technological infrastructure for proof-of-ownership. The basic idea is that if they can store data on the blockchain, that data can be used to reference anything. If it can refer to anything, then it can be used to store ownership of any physical or digital item; houses, cars, licenses, certificates – the possibilities are truly limitless.
You no longer need to rely on paperwork or third-party intermediaries to transfer complicated and expensive assets; instead, use blockchain to do so in a trustless, decentralized manner. From the perspective of the general public, as with most technology, people want the best results without having to understand exactly how it works. This is a key pillar in NFT-Maker philosophy of bringing the power of NFTs to everyone, but to explain some of the details, here is an overview of why NFTs are important on Cardano.
The Bitcoin blockchain pioneered the use of the UTXO accounting model, in which the blockchain stores the set of unspent transactions rather than the current balance of each account.
What do you mean, “unspent”? In this context, unspent refers to how each transaction spends your entire amount of coins and then essentially returns the remainder to you, similar to receiving change from a shop. Cardano employs the eUTXO (extended Unspent Transaction Output) model, in which the UTXO is supplemented with an additional script (smart contract) that must return True before tokens are sent.
Consider this an additional check in addition to the public/private key pair. Although all UTXOs have smart contracts attached to them, there is no way to distinguish a unique smart contract – this is where NFTs come in. Attaching an NFT to a smart contract enables it to be uniquely identified, completing the Cardano Blockchain’s security.
This is especially significant because Bitcoin has a very limited scripting language, and coins like Ethereum worked to improve the expressiveness of smart contracts but were unable to do so while using UTXO and instead opted for the balance-based accounting model. Cardano researchers were successful in cracking this, and as a result, Cardano is the current best-in-class infrastructure for the best method of storing ownership ever created.
The goal is to offer as much utility as possible to $NMKR token holders. This means that owning $NMKR grants you the ability to influence the future direction of the NFT-MAKER Ecosystem.
Verification & fraud prevention
Safe for everyone
They intend to implement a trust score for each user on the platform. The initial metrics will be graded based on their level of identification and stake. Members of the community who vote will receive $NMKR rewards.
They will incorporate all community feedback and wishes into our roadmap. Initially, the development team will deliver proposals for which the community can vote.
Addition Resources and Documents
Download the White Paper.
Visit the NFT-Maker website.
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