NFT sales surpassed 1.2 billion in July, and as the Metaverse evolves, so does the standard for what constitutes a high-quality NFT. The market’s growth has compelled producers and projects to improve the quality of their work by devoting more time and resources to the creation of NFTs.
Many artists have been encouraged to develop more high-quality resource-intensive NFT projects as a result of the recent success of CryptoPunks, as well as Nael G’s Degen Monkey Collection and Rzijj’s Bored Clowns Collection.
The NFT launchpad will give creators and projects the ability to promote community awareness and support for their NFTs, as well as grant native token holders exclusive access to pre-sales of exclusive NFTs and projects carefully selected for the launchpad. ChainTechSource, a leading NFT development company, provides insights on what NFT launchpads are and some of the best NFT launchpads available in the market.
What are NFTs?
A Non-Fungible Token, also known as NFT, is a one-of-a-kind digital asset whose value is determined by its unique characteristics and digital scarcity rather than its aggregate market value, as is the case with traditional stocks and bonds. Furthermore, unlike many products on established digital asset marketplaces, NFT developers set their own price.
In other words, it makes scarcity out of something that was previously scarce: information. Prior to NFTs, the only way to guarantee scarcity was to use patents or trademarks, and even then, digital assets were easy to copy and steal. With NFTs, however, a creator can develop an asset that is inherently scarce due to the uniqueness of each asset’s qualities, which can include source code, artwork, or even a unique blockchain address.
What is an NFT Launchpad?
Projects and artists can generate cash using NFTs with symbolic token value, similar to an Initial Farm Offering (IFO). This method of fundraising is known as the NFT launchpad. The NFTs purchased by the users are then minted, and the tokens are transmitted to their addresses, according to the purchase they made on the launchpad.
An NFT launchpad is an Initial DEX Offering (IDO) platform that has three stakeholders – Project Owners, Investors, and Launchpad Admin. The NFT launchpad works in unison with all three stakeholders.
The project owners are those who want to raise funds and they create a project on the launchpad, which is then approved by the launchpad admin. Once the project is approved it is made visible for investors to begin the staking process. After the project has been successfully staked the launchpad will mint the staked coins and transfer them to all the stakeholders.
Best NFT Launchpads
- Ethereum DAO Maker:
Despite the fact that there are many Ethereum-centric launchpads, DAO Maker is now the finest because of its durability, but also because it is reputed for its quality. The platform was among the first to use IDO-style offerings to democratize access to new initiatives.
- Binance Smart Chain: BSCPad:
Due to its speed, EVM compatibility, and low fees, Binance Smart Chain has recently been the platform of choice for a huge number of new applications. BSCPad is well-known for the frequency and quality of its IDOs, as it was one of the first platforms to primarily promote projects developing in the Binance Smart Chain ecosystem.
- Solana/Solanium:
Solana, billed as the “fastest blockchain in the world,” is a third-generation smart contract platform that is frequently compared to Ethereum. Its DApp ecosystem has exploded since its main net went online in March 2020, with well over 150 applications already running on the platform.
The Solana NFT Launchpad caters to celebrities like Soulja Boy, Juicy J, and others, and features all kinds of digital artworks and collectibles for SolCeleb holders to get early access to.
- Cardano/CARDStarter:
Cardano is a smart contract platform that uses a lightweight proof-of-stake consensus system with a fast blockchain ledger. The platform’s Alonzo hard fork just finished, enabling smart contract capabilities and allowing third-party developers to start designing and distributing DApps.
Although its smart contract capabilities were just launched a few months ago, it has already seen a rapid expansion of its DApp environment, with a wide range of tools, products, and services including NFT marketplaces, DeFi apps, and a variety of games now running on the blockchain.
I am sure that as of writing this blog several proficient, robust, and highly advanced NFT launchpads are being launched. That’s the kind of growth NFT and NFT launchpads have in the current digital era. This blog by ChainTechSource will guide you to navigate in the world of NFTs and make the right investment.