An introduction to NON- Fungible Token Global Registry (NFTG)
Frictionless Yield Generation. Hodl and Earn:
NFT’s are an exciting new innovation to the cryptocurrency space. Billionaire Shark Tank investor and crypto enthusiast Mark Cuban thinks that NFTs will soon be a 100 million dollar market. Major organizations such as the NBA, Christies, and dozens more have begun using NFT’s to sell collectibles, art and to represent digital ownership of unique assets. Music artist Kings of Leon, and a slew of other major entertainers have begun creating albums using NFT’s. This exciting technology is here to stay, and the market implications are huge. In the early days of NFT’s, very few people expected the technology to go mainstream, discussed on major media outlets such as the Wall Street Journal, CNN, and welcomed by multinational organizations. The early adopters and pioneers in the space witnessed the growing frenzy of NFT’s such as CryptoKitties, Punks, Hashmasks. Moving on to April 2021, NFT’s have exploded in popularity.
What are NFT’s
NFT’s are a type of cryptocurrency, but instead of holding money, they can hold assets like art, tickets, and songs. An NFT token can represent a digital asset such as an image, as well as track real-world assets, such as a house, or a music album. As you can uniquely define which assets are represented by an NFT, you can also prove ownership of said assets. The proof of ownership and authenticity of the asset is secured by the blockchain.
NFT’s operate on a blockchain, which is a publicly accessible and transparent network — meaning anyone can see the details of any NFT transaction. Computers involved in the transactions become part of the network, which keeps updating and can’t be hacked due its nature. NFT’s are made possible using the Ethereum standard for identifying unique assets on its blockchain — the ERC-721, known as the solution for the creation and transfer of non-fungible tokens. Integrated into this technology are multiple options for ensuring royalties and digital rights ownership for token creators.
The Problem
As the adoption and usage of NFT’s rises, so does the very grave concern of intellectual property theft and abuse. Additionally, as the NFT ecosystem continues to grow, so too does the need to usher in experienced professionals who can educate and help teach the world the full power and scope of this exciting new technology.
Prior to the creation of the NFT Global Registry, there was no central body providing industry guidance and direction.
The NFT industry is poised to disrupt multiple traditional markets, including ticketing, collectibles, asset registry, and the entertainment industry. NFTGR aims to be the go-to authority when it comes to the public education of NFT technology, and protecting the Intellectual property rights of NFT holders. The main focus is to ensure that the needs of consumers and Token holders are met. The Organization will operate as a cross-chain platform running first on the Binance Smart Chain, then the Ethereum blockchain, and Heco. The main goals of the organization are as follows:
- Protecting the Rights of NFT Holders Around the World.
- Promoting awareness and Educating the public.
- Providing industry guidance and direction.
- NFT Showcase and Exhibition
- Rewarding holders of NFTG
Tokenomics:
NFTG — Frictionless yield generation. NFTG works by applying a 3% fee to each transaction and instantly splitting that fee among all Hodlers. There is no need to stake or farm, fees are distributed instantly. Earnings are awarded by the smart contract and are immediately reflected in the holders balance.
