Mintology recently claimed they launched the world’s first curated NFT launchpad: called a Kickstarter, and an online marketplace where artists and creators can list their digital creations for sale immediately upon minting.
This impressive innovation is yet another addition to the continuous growth and development of the NFT economy in online marketplaces. As much as NFT is paying presently, many people are cashing out, making immense fortunes via the trading of digital assets. Undoubtedly, there’s no limit to how much you can earn on NFT launchpads. However, you will need to master and understand how the platform works.
NFT launchpads are platforms where creators connect with investors to get funds raised for their forthcoming projects. The challenge for artists and creators is that there’s no way for them to access a community upon minting their NFTs easily. Mintology is the next step for these creators.
In short, Mintology is the IEO of NFTs: Users can list directly on an NFT exchange, immediately providing access to potential buyers looking for a curated selection of digital assets.
What’s the concept of NFT?
An NFT (or Non-Fungible Token) is a unique digital asset whose value is derived from its unique attributes and digital scarcity rather than its aggregate market value like a traditional stock or bond. Further, NFT creators set their price, unlike many assets in traditional digital asset markets (such as Spotify or Apple Music).
In essence, it creates scarcity out of something that was previously not scarce enough: information itself. Before NFTs, the only way to ensure scarcity was via patents or trademarks, and even then, digital assets could easily be copied and stolen. However, with NFTs, a creator can create an inherently scarce asset – through the uniqueness of each asset’s attributes, including its source code, and artwork on a NFT launchpad.
For some artists, NFTs have also enabled them to monetize their content in new and exciting ways. For example, a songwriter can use an NFT to sell tickets to a live performance of her song, or a painter can sell an NFT representing a limited edition of one of his paintings. As the world’s first fully-integrated marketplace for digital assets, Mintology will give creators more ways to earn additional revenue from their work. The introduction of NFT launchpads also makes the market more lucrative.
However, this global, newly-discovered fascination with NFTs is a double-edged sword, resulting in a market flooded with low-quality NFT projects, making it difficult for investors to discover projects with true potential. Mintology is on a mission to make high-quality NFTs the new standard for digital ownership through a carefully curated marketplace.
The IEO of NFTs
Mintology makes it easy for creators to start minting their NFTs and provides them with the infrastructure they need to succeed. That allows creators to focus on what they do best, creating art and music on a NFT launchpad.
That is similar to how IEOs (Initial Exchange Offerings) and IDOs (Initial Decentralized Exchange Offerings) have made it easy for entrepreneurs to launch directly on crypto exchanges, democratizing access to capital for promising companies.
Mintology allows creators to mint and lists their digital assets to an NFT community. Once a seller lists an artwork, it will appear on the platform as available for purchase. By listing NFTs, artists and creators become part of a thriving community.
What does this mean for artists and creators?
By listing their work on Mintology, artists and creators can mint NFTs and list them on Mintology’s carefully curated NFT launchpad and subsequent NFT marketplace. They can do this by minting directly from the website. Once they’ve minted their NFT, anyone can buy it using one of the supported cryptocurrencies on the marketplace at a set price.
Any valuable digital commodity should have one significant advantage over its physical counterpart: instant liquidity. That will be possible once Mintology marketplace launches, and artists and creators can mint their assets right into the NFT launchpad and listing into the market automatically, without having to go through the headache of publishing them themselves.
How does it work?
Mintology is powered by Ethereum smart contract technology and acts as an exchange for minting and trading NFTs.
NFTs are created using the ERC-721 standard. This standard requires an NFT to have a uint256 variable called tokenID. That means it must have a globally unique variable, so there’s no way for two NFTs to share an ID. Further, it becomes a technical impossibility to duplicate an NFT.
That is in stark contrast to traditional marketplaces and social networks, from Instagram to Spotify, where if a user uploads an image or a song, there’s no decentralized, unique identifier that ties that asset to their identity—meaning that anyone can replicate it infinitely. The centralized providers can delete it at any time.
What is the future of NFTs?
With the creation and launch of new platforms like NFT launchpads that enable artists and creators to mint their unique NFT assets come the obvious question: what will they be worth? That is where things get interesting. The value of an NFT depends on many factors, including its scarcity (how rare it is), how much demand there is for it relative to supply, as well as how widely known the creator is within a specific community (the so-called “credence factor”).
The market for rare digital collectibles like digital trading cards has been valued at billions of dollars annually. With the likes of a dog on the blockchain being worth $85 million, we expect these markets to only continue growing in size. Digital art and music are only one component, with many other industries growing in parallels, such as physical sports cards or sneakers.
Ultimately, NFTs are just a digital representation of an asset, and like all assets, they will have value if they have demand—whether it’s a plot of virtual land on Mars or something as simple as an image. The digital world will only become more integrated with the real world, and NFTs are yet another example of this convergence. Mintology empowers creators by democratizing NFTs and fostering quality in the new digital economy with a curated NFT launchpad.
In Conclusion
NFT launchpad is the right platform for artists and creators looking for a sustainable way to make money from their crafts. The platform can help any talented individual who wants to tap from the flowing juice in the modern digital space. Since NFTs can be anything, you can convert whatever you do as a craft into digital assets and showcase them before ready investors who value your creativity.