We continue our series of articles about use cases. Today we will tell you more about Symbiosis solutions for NFT marketplaces and digital artists.
We all have stepped into the new reality where everyone can earn money just by creating something cool online. You don't need millions of followers or significant investments to become a high-earning digital creator.
At first sight it may sound too good to be true but the fact is that the Internet and fast evolving technologies have given everyone equal opportunities and rights. Even the most hesitant minds now understand the opportunities and scope that are now opened.
What is NFT and the new creative economy?
A huge step was made towards the next era for digital creators when NFT appeared. NFT stands for non-fungible token meaning that it is something unique and couldn't be replaced. To put it simply, NFT is a digital asset that could be anything you can only think of: art, music, videos, texts, in-game items and even a screenshot.
Yes, you can make any piece of content digital today. And NFT helps to prevent your content from stealing, copying or deleting. Everything is recorded in the blockchain starting from the moment of minting (creating) your digital file as NFT.
NFTs set new standards for interaction in the market – no intermediaries needed. Many experts believe that very soon all the content will be distributed as NFTs. Creating something as NFT or NFT purchase means that you have full control of it just like owning a bag or a pencil in an offline world. So you can directly operate with your NFTs or you can choose one of the marketplaces with better conditions to sell your works.
Another good point about NFT is the price policy and tiers. It is more or less the same as the donation system but an upgraded one. You can easily slice and dice your NFTs and sell them with different pricing tiers – offering the tidbits for your most passionate fans – and earn more.
And the best thing is almost zero marketing and customer acquisition costs. In the new digital creative economy users become owners and they influence the price and overall success of the particular asset.
And what is the problem?
Despite all the obvious advantages NFTs are still early, and will evolve. Such a new format for content has some limitations, and one of them is chain dependence.
NFTs are created on different blockchains which means you can use only specific tokens to buy the NFT you want. Or if we talk about creators they need to have some of those tokens to pay fees when minting NFTs.
The Symbiosis solution for NFTs
We are working on delivering cross-chain solutions wherever they are needed. In this very case we see the great potential for the technologies we offer.
Our SDK and API enable users to buy any NFT they want using the tokens they have in the wallet – regardless of the chain used for NFT minting. It opens new horizons and makes the NFT user experience much better and smooth.
Recently we have with Liquidifty marketplace. It has collections and 1/1 NFTs on BNB, Polygon, Ethereum and Avalanche which significantly reduces the funnel for user attraction.
Once the integration process is finalized it will let users get the NFTs with a single click, regardless of the network they’re on. No worries about gas tokens on all the chains and endless switching between different bridges/DEXes. Everything will be done automatically and seamlessly for users. We support not only ERC721 but also ERC1155, and we can move any call data.
We plan to collaborate with other NFT marketplaces and offer our solutions so that they can bring in new users, enhance the user experience and open new opportunities on the market.
Moving in this direction means that we are ahead of the curve – we can now offer the solution that is in demand now and will become an integral part of the digital economy in the near future!
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