Since the introduction of the Internet to the world, many have duplicated and distributed digital artworks such as visual and music at high speed. However, the main disadvantage could be that the great minds behind these masterpieces remain unknown and their creativity gets lost. Non Fungible Tokens, however, provided the opportunity to confirm the authenticity of tokens when original artworks were traded in the market. Further, NFT Art Finance seems to change the future of the Financial industry as many people may convert their precious assets into assets with higher values. Although it is a relatively new entry in the cryptocurrency sphere, it focuses on liberating the digital art work, specifically photos, videos, and music.
What is NFTART (NFT Art Finance Token)?
NFTART is introduced as a utility token which powers the Enter ecosystem. It comprises art, audio, and games. Enter also works on other platforms that make use of NFTART. With its inbuilt hyper-deflationary mechanism, it aims to benefit long-term token holders with passive income in NFTART tokens in real-time.
NFTART trading in the market started on April 22, 2021. Since the beginning, Enter denied owner ownership of the contract, so that they can never change the token’s code. Since the total supply of the NFT Art Finance was enormous as 100 quadrillion tokens, its price started at an extremely low value of $0.0000000010. however, the circulating supply reached over 26 quadrillion in October. The market cap increased to almost $20 million and an average daily trading volume of approximately $200,000. A sharp increase!
The token is developed on the Binance Smart Contract (BSC) network. It primarily aims to provide a trading mechanism which enables artists to do various forms of investment, ranging from real estate contracts to works of art.
What kind of assets or digital arts can you create with NFTART?
Almost everything! NFT game is a good example that uses NFT and block chain-based Platforms to connect with gamers worldwide. Crypto kitties, for instance, uses the NFT to provide the unique in-app gaming digital goods which can be purchased and diversify the blockchain-based cryptocurrency. Such games also use NFTs as a mainstream to cause the higher-level security-based Payment Solution to all users.
A digital creative work can be artificially distort using NFTs through giving each of the NFTs in the work a unique signature. It means that when an artist sells NFT-represented works, he actually keeps the copyright to the work, so the artist is able to create other NFT works.
How does NFT Art Finance Token work?
Enter makes use of NFTART and the Binance Smart Chain which enables artists to operate with negligible transaction fees. Even smarter, there is no listing cost. Another advantage is that artists receive a commission every time their work is traded after the first sell. NFT Finance Token platforms includes some unique features as following:
- Since the ownership of the contract is denied on the first day, the code cannot be changed by anyone.
- Although NFTART has a built-in 10% transaction tax, 5% of the transaction fee gets burnt but 5% goes back to holders.
- The NFTART token powers the Enter platform which is the default currency used to create, claim, buy and sell NFTs.
- Since there is a built-in 5% redistribution on every transaction, the user’s funds increase more and more with holding the token.
- The smart contract has passed a complete code audit by TechRate.
- Low transaction fees with Binance Smart Chain make it affordable for everyone to create and trade NFTs. Such a mechanism allows owners or artists to earn from their works for a lifetime.
There is another unique selling point with NFTART, called tokenomics. It includes inbuilt hyper deflationary mechanism, in which the developers essentially burn 50% of the token at the beginning. As already mentioned, the NFTART token code also burns 5% of every transaction which lowers the supply and, meanwhile, increase the value of the remaining tokens.
Such tokenomics are part of the smart contract and never changes over the time. The additional 5% is redistributed among NFTART holders, which makes it possible for long-term holders to earn passively. This redistribution of 5% of every NFT Art Finance transaction is purposefully designed to encourage long-term investment in the token.
Wallets that support NFT Art Finance Token
All wallets compatible with Binance Smart Chain tokens can be used to hold NFT Art Finance. Such wallets can be an online or offline wallet. Some of the popular BSC-compatible wallets are:
- Trust Wallet (Android/ iOS)
- MetaMask Wallet (Browser/Android/ iOS)
- Unstoppable Wallet (Android/ iOS)
- TokenPocket Wallet (iOS/ Android/ Desktop)
- Coin98 Wallet (Android/ iOS)
- Binance Chain Wallet (Browser)
- Math Wallet (Browser/ Android/ iOS)
- Coin98 Wallet (iOS, Android)
- Guarda Wallet (web version)
- SafePale S1 (hardware wallet)
- Ellipal Titan (hardware wallet)
- Ledger Nano X (hardware wallet)
- D’CENT (hardware wallet)
How to buy NFTART
In the early stages, only PancakeSwap provided NFT Art Finance. More recently, Enter also made it possible to deal with more platforms and get the token listed in different markets. Still, PancakeSwap is the easiest and most popular way to get on NFTART.
PancakeSwap, FEGex, DigiFinex, HotBit, and Lbank are the cryptocurrency exchanges to buy NFTART. The newest addition is AutoShark which has joined the market since September, 2021. AutoShark is designed to enable NFT enthusiasts buy or sell NFTART, farm NFTART-BNB, and stake FINS and JAWS to earn NFTART. The company indicated that AutoShark is linking to more exchanges and other potential partners. Besides, a payment gateway is provided to allow users to buy NFT Art Finance and issue NFT’s directly from their site using bank cards.
How to trade or sell your NFT ART Token
The process of converting NFT Art Finance is easy and straightforward. Begin with swapping NFTART for BNB and, then, trade the BNB for other tokens and cryptocurrencies.
Wishing for cash, you only need to finalize the transaction on an exchange to connect to your bank account.
How to collect NFTs with NFTART
Currently, it is only possible to buy artworks using NFT Art Finance through enter.art. Just like buying the token, one does need a BSC-compatible wallet and the NFTART token especially if one has some BnB to cover the transaction fee, which is usually below $1 for listing, buying, and minting.
Setting all with NFT Art Finance crypto and BnB, visit the Enter website and connect the desired wallet. Choose the option in top right corner of the site and browse artworks, click on the “buy” button, and approve the transaction on the wallet.
How to farm or stake NFTART
Recently, Enter has made a partnership with AutoShark which allows crypto enthusiasts to stake other tokens on the platform’s Ocean Pools and earn NFTART tokens. Remember that if there are earnings by staking on AutoShark, a few FINS or JAWS alongside a Binance Smart Chain-compatible wallet may be required.
AutoShak can also be paired with DeFi dashboards such as WalletNow and Ape Board, which are used to keep track of rewards or losses. For more detailed information on staking and farming NFTART tokens visit enter.help page.
The future outlook of NFTART
Many unique features are implemented to Enter to make the platform and the deflationary NFTART token more accessible and user-friendly. It is said that they are negotiating with more exchanges and potential partners to open up new markets for NFTART.
The good news is that they are also working on several smartphone apps for iOS. Besides, their team is doing its best to offer a way to pay for NFTs and buy NFT Art on their site with credit cards. If it comes true, the NFT Art finance price should come with fewer transaction costs and conversion fees.
It seems a great idea to use smart contracts to improve the digital artworks niche. Considering the NFT concept which not only helps artists sell their masterpieces, but also allows enthusiasts get digital assets with the potential of capital gains, a bright future of digital artwork is expected. Although there are several other tokens built on art, NFTART seems the one to keep a close eye on.