In the trillion blue ocean market, how does GoatNFT leverage the liquidity of artwork NFT?
GoatNFT’s ambition: use fragmentation and leasing to provide liquidity for NFT.
In the trillion blue ocean market, how does GoatNFT leverage the liquidity of artwork NFT?
In the past few months, NFT has become the blockchain application scenario closest to the real world.
An NFT art painting that sold for nearly 70 million US dollars not only made the artist Beeple famous overnight, but also made the NFT concept successfully out of the circle, becoming the most promising concept section in 2021. Four years ago, NFT was first verified and applied on a small scale due to the encrypted cat game.Four years later, Merriam-Webster, an authoritative dictionary publishing agency in the United States, added the definition of NFT in the Webster’s dictionary. Well-known IP such as NBA and Chen Xiaochun took the initiative to enter the market, and NFT began to extend to the real-world market for art paintings, music, sports, ticketing, and digital identity.
The entry of mainstream people makes NFT the next hot spot that the whole industry is looking forward to.
The explosion of the NFT market has spawned the blue ocean track of NFT trading, and successively pushed OpenSea, Nifty Gateway, RefactorerNFT, Rarible, SuperRare and other NFT trading platforms to the front. Even Binance and Huobi, among the top three centralized exchanges, have launched their own NFT trading platforms. In addition to players from the crypto world, eBay, which has hundreds of millions of users recently, also announced its entry into the NFT market, and plans to open NFT transactions on the platform in the future. Nowadays, the scale of the NFT trading market is growing day by day, and the NFT trading platform is heading towards the eve of blooming. The pattern is uncertain, and dark horse players are still needed to fill it.
Recently, the decentralized NFT trading platform “GoatNFT” that Odaily Planet Daily came into contact with is a dark horse on the NFT trading track.
“GoatNFT” currently supports the casting and trading of NFT assets in the form of artworks, games, music, film and television, and hopes to provide users with a one-stop solution for NFT assets. The project has now received an angel round of financing, and plans to open a private placement in June.
Create a trusted trading environment with platform currency pledge, “GoatNFT” solves the problem of NFT asset trust
GOAT is the abbreviation of Greatest Of All Time, and it is exactly the GoatNFT project’s requirements and vision for its own development. The goal of “GoatNFT” is to create a safe, efficient and valuable NFT transaction ecological network.
Starting in 2018, the “GoatNFT” team has begun to deploy the blockchain digital art platform, and almost all of the team members come from first-line manufacturers. The cryptocurrency market three years ago was not what it is today. At that time, the entire blockchain market was not clear, DeFi had not yet emerged, and there were very few artists engaged in blockchain digital art creation. The “GoatNFT” team had to dormant in the bear market, looking for suitable opportunities to enter the market art + blockchain track. Until 2021, under the NFT boom, the market has become a mixed bag. NFT projects with mixed good and bad have flooded into the NFT trading market, and the accumulated strength of “GoatNFT” has gradually highlighted its advantages.
The “GoatNFT” team is very emotional and sentimental towards digital art. On the one hand, it is hoped that digital art can be empowered by blockchain, which can truly confirm the basic rights of digital artists’ works, and solve the pain points faced by digital artists; The threshold for ordinary people to participate in NFT, and then prosper the entire NFT market. “The “GoatNFT” team interpreted their understanding of the blockchain and the art market in this way.
Since the current NFT section is still in its early stages, “GoatNFT” like most NFT exchanges, not only needs to focus on the development of trading functions, but also needs to assume the responsibility of seeking and identifying high-quality NFT products for users.
Based on the accumulation of “GoatNFT” in the art and blockchain sectors for many years, “GoatNFT” also has its own unique ingenuity among the new NFT exchanges.
Currently, “GoatNFT” divides its business into three major sections: “asset trust”, “asset circulation” and “value discovery”.The three major sections are working together and supporting each other to help “GoatNFT” create an ecological closed loop. “Asset trust” is the first solution for “GoatNFT” to solve the difficulties of digital NFTs on the chain that are easy to forge, real assets on the chain and asset confirmation on the chain.
At present, artwork is a popular application direction for NFT products. With the blessing of well-known IP, NFT will gain greater traffic and popularity. However, as the popularity of NFT continues to rise, there are also many speculators entering the market to speculate. For a time, the NFT market has flooded with fakes. “GoatNFT” hopes to solve the asset trust problem of on-chain NFTs from the source. Therefore, in the rules, five major roles are designed for game and balance. The five major roles are creator, validator, principal, informant, and consumer.
The creator is the NFT producer in “GoatNFT”, and gains revenue by creating NFT.
The verifier is the verifier of the authenticity of the NFT and needs to provide credit guarantee for the NFT product in the form of a certain amount of platform currency Goat Token (GOAT). The greater the amount of pledge, the higher the credibility. Once false, the mortgage assets may be emptied.
The principal can entrust the platform currency Goat Token (GOAT) he holds to the verifier he trusts, and jointly guarantee and share the network revenue.
The whistleblower is responsible for whistleblowing and verification, and through effective inspections, they can obtain the platform currency Goat Token (GOAT) revenue.
“As long as the cost of destabilizing the system is high enough, then the system will be stable enough.” The “GoatNFT” team analyzed the ingenuity behind the five character designs.
The “GoatNFT” staking platform currency rules indirectly provide credibility guarantee for the NFT on the platform, stifling the speculators’ evil intentions from the source. In addition to consumers benefiting from this model, which can reduce time and trial and error costs, verifiers and principals can also obtain low-risk profits by providing credit guarantees. In addition, for the NFT industry, the value of validators and principals is not only to provide credit guarantees and information guidance, but also to avoid the phenomenon of bad money driving out good money, avoiding the transitional bubble of the market, and at the same time, it can also tap potential NFT.
To improve the liquidity of NFT, “GoatNFT” innovative gameplay is here
“Buy or sell”, “Unable to trade freely”, “Single transaction mode”… Inefficient liquidity has always been criticized, which is another major pain point that plagues the NFT industry.
In solving the problem of NFT liquidity, there are different creative solutions in the industry. For example, Refactorer previously proposed a split plan to split the NFT into a certain number of fragments according to the market price, and each fragment corresponds to a part of the back NFT and traded on the secondary market. For any kind of exchange, liquidity is the lifeblood. “GoatNFT” is providing a unique gameplay around liquidity.
“GoatNFT”, based on the traditional overall sales represented by Opensea, also introduces the concepts of fragmentation, leasing, and split transactions to empower NFT liquidity. In terms of split transaction function, “GoatNFT” allows users to split a complete NFT into several ERC20 standard fragmented tokens, and these tokens can be traded on the secondary market, which indirectly reduces the difficulty of NFT circulation. The fragmented NFT that has been split can further revitalize the NFT market.
The fragmentation scheme of “GoatNFT” includes space fragmentation and time fragmentation. Space fragmentation is about breaking the complete ownership; time fragmentation is about breaking the time of ownership. In the “fragmentation” function, “GoatNFT” fragments a specific NFT equity, which not only brings liquidity to the market, but also further reduces the investor’s purchase risk cost and entry barriers, enabling more users Can participate in the value mining of NFT.
Another liquidity solution of “GoatNFT” is the leasing model.
The leasing model is not the first original creation of “GoatNFT”. This art leasing scene has a precedent in the traditional art world and has been popular for decades. Under the unique NFT art leasing model of “GoatNFT”, “GoatNFT” uses blockchain technology to realize the functions of mortgage-free and automatic return, avoiding cumbersome transaction procedures.
In the leasing model, artists do not lose their property rights and copyrights, but can also gain market revenue. The lessee can temporarily own the artwork at a lower price, during which the lessee can enjoy the copyright for a period of time, and further value mining. Under the leasing model, “GoatNFT” subdivides whole leasing, co-leasing and subleasing scenarios, which are applicable to users in different scenarios.
For example, to realize the exclusive copyright through the whole lease; to reduce the rental cost by transferring part of the share through the joint lease, especially suitable for the copyright NFT with high price but not clear enough for the market demand; subletting is suitable for the situation that the market value mining is not smooth. Recover lease costs.
At present, most of the NFT trading platforms on the market have a single and dry application scenario, and basically only have ordinary buying and selling functions, and most of them are only one-time transactions that end the life cycle of a single NFT. It is worth noting that subletting will greatly help the secondary and multiple circulation of NFT in the secondary market. The “GoatNFT” team is also particularly optimistic about the NFT leasing market. In their view, the leasing function is a win-win option, which not only helps creators realize that the copyright is not bought out, but also helps buyers obtain NFT use rights at a small cost.
The first wave of “GoatNFT” audiences are those who are as optimistic about leasing as we are, and film, music and games may be the first to be used. “When asked about the source of seed users, “GoatNFT” gave this interpretation.
“GoatNFT” divides NFT into four major business areas based on business application scenarios: art, sports, games, and film and music. In the future, different businesses will be developed around the functions of “sale” (whole and fragment) and “leasing” (whole lease and shared lease). The application continues to provide users with a variety of gameplay methods, thus forming a complete closed loop, adding icing on the cake for liquidity. “In addition to liquidity, the uniqueness of “GoatNFT” is the gameplay, which is the lifeblood. When the time is right to wait for us, the outline of the platform will be clear to everyone at a glance. This is also the time when we have the most core competitiveness. “The “GoatNFT” team told Odaily Planet Daily.
Emphasize DAO governance, use decentralization to achieve governance transparency
“No one can guarantee that it will not be copied quickly. But we have an open concept, and strong innovation and execution. We will do our best to keep the project at the forefront.”
Behind the various ingenuities of “GoatNFT”, the ambition of “GoatNFT” is to discover the true market value of NFT and avoid the harm of bubble formation for NFT. In the interview, “GoatNFT” repeatedly mentioned DAO’s governance model, which is also the consistent persistence of “GoatNFT”.
“GoatNFT” has emphasized decentralized management since its inception. Of the 1 billion GOAT issued, 49% of the token quota will be distributed to those who contribute to the community. In the design of the rules, the whistleblower’s report is also included in the DAO court process, and the community will conduct trial. The decentralized DAO governance model can maximize the participation of stakeholders in the decision-making process and achieve governance transparency.
“Under the DAO model, everyone is a stakeholder and a member of the platform. If you want to get a good income, you can only get a certain amount of income through your own efforts. This is fair.” In “GoatNFT “It seems that DAO is the spirit of the blockchain. Through the power of the community, it avoids the mistakes caused by the dictatorship and assists the platform to go better and further. In the future, the “GoatNFT” plan will gradually release power to the community, and eventually it will be managed by the community, allowing more people to participate in decision-making, and collectively contribute to the platform and play a role of teamwork.
At present, “GoatNFT” has been developed to the v1 stage. In the v1 stage, the function of splitting ERC 721 into ERC 20 is realized, and the final development stage of v2 is currently in progress. In the v2 stage, “GoatNFT” has reorganized the positioning of the project. The core functions of the v2 contract have been developed. The front-end is under intense development. It is expected to be launched at the end of May to support the overall sale, entire lease, joint lease and sublease test network. In addition, in the current NFT trading market, only projects with top resources can be an instant success. “GoatNFT” is also working hard to contact large IP traffic resources.
“The current NFT trading market is still very early, and the application of derivatives is not abundant. In the future, combined with DEFI, with NFT as the endorsement of value, the future market prospects are unimaginable.”
In the hot NFT market, the fast-forward button is pressed alternately between the old and the new, and the competition in the NFT trading market will also become diversified and vertical. “GoatNFT” can be expected in the future.
