NFTD and CFG tokens will be available soon – Market Wrap

Decentralized finance is evolving with rapid speed. There are many new protocols offering investing advantages. The NFTD Protocol project is one of them. It has already attracted investors’ attention. The company plans to launch its native token tomorrow. The ICO sale will begin on May 26, 2021, and end on Jun 2, 2021. According to the NFTD Protocol, they aim to raise $100,000 by trading 100,000 tokens. The ICO price is $1 per token.

NFTD is a smart NFT supermarket system created specifically for digitals products. The sellers and products they sell are identified as a unique tokenID in this smart shopping system. After the involved parties complete the transaction, the platform will confirm the buyer’s ownership immediately.

Currently, buying on online shopping systems can be risky. Not even big chains like Amazon guarantee the quality of the products. While they reimburse the money if something goes wrong, customers don’t even have that kind of assurance from less-known online shopping platforms. The seller sends the product to the customer. However, it does not give clear proof of ownership of the product.

That can reduce the value of the goods if the customer later wants to sell them to someone else. NFTD resolved this issue. Every transaction completed on its Uquid Shop will include proof of the owner along with the goods client purchased.

NFTD’s long-term goal is to make NFTs available in people’s everyday life. Its founders wanted to simplify the visual concepts of NFTs as customers often have difficulty understanding and implement them. The company aims for Uquid Shop to become an Amazon for crypto in the future.

What kinds of products will NFTD offer? 

People will be able to sell unique content on the Uquid NFTs platform, including Tiktok Video Content, Youtube Videos, Tweets & Social media Post, and Livestreamer Content.

Furthermore, digital products will be available as well, including Computer Software, Top-up Subscription, Coupon, Vouchers, and Gift cards, as well as Games and Antivirus. Using such products into sales as NFTs makes the selling and buying process much more transparent.

Binance plans to list MASK tokens. Why’s that?

Binance announced on Monday that it would list Mask Network (MASK) on its platform. One of the biggest crypto exchanges will also open trading for MASK/BNB, MASK/USDT, and MASK/BUSD trading pairs at 2021-05-25.

Mask Network is a protocol allowing its customers to send encrypted messages over Facebook and Twitter. It acts as a bridge between a decentralized network and the internet, connecting internet users from Web 2.0 to Web 3.0.

The network has launched its native utility token MASK. Token holders can use it for governance, dApplet development, protocol incentivization, and premium features. While the token is relatively new and still highly volatile compared to old tokens, it has already attracted investors’ notice.

The founders launched Mask Network in July 2019. Initially, Facebook and Twitter users were only able to encrypt posts on the social media platforms with this network. However, Mask raised $2 million in a funding round in November 2020, co-led by Hash Global and HashKey, along with a further $3 million funding round in February 2021 with participation from Fundamental Labs and Digital Currency Group.

Currently, Mask Network offers its customers the ability to fund Gitcoin grant campaigns directly from Twitter. It also plans to offer peer-to-peer payments, as well as decentralized storage functionality. Mask is a decentralized portal allowing customers to use DApps like crypto payments, decentralized storage, decentralized finance, decentralized organizations (DAO), and e-commerce (digital goods/NFTs) over the top of existing social networks without migrating. Thus, it creates a so-called decentralized Applet (DApplet) ecosystem.

What about the MASK token’s distribution?

MaskDAO, a decentralized autonomous organization (DAO), governance the MASK token. Its holders can vote on key decisions for the MaskDAO. Each MASK token represents one vote. At the genesis, the team created 100,000,000 MASK tokens. However, they will unlock the rest of the supply over three years.

According to the team, 7% of the token supply goes to a Community Public Offering. The rest of the portion of MASKs will go to the early investors (14.25%), reserve (39.55%), and the team (23%).

Meanwhile, the Centrifuge announced about launch of its native token soon

Centrifuge is a decentralized asset financing protocol. It bridges real-world assets into DeFi, aiming to bring down the cost of capital for SMEs and simultaneously provide investors with a stable source of yield. The protocol’s goal is to bring profit uncorrelated from volatile cryptocurrency assets.

Using Centrifuge, companies can tokenize real-world assets. Afterward, they use these tokens as collateral to access financing through Tinlake, the protocol’s asset-backed lending Dapp.

Tinlake connects its users to the DeFi ecosystem. It also enables them to borrow from many other protocols. The Centrifuge (CFG) token powers the chain. Furthermore, the token empowers its holder with governance, thus provides the incentive for validators to operate it. As a result, any business can originate their real-world asset on-chain thanks to Centrifuge and Tinlake, along with accessing liquidity through the protocol.

The Centrifuge is launching the CFG token’s ICO on May 27, 2021, and the sale will end on May 31, 2021. The company aims to raise $2,422,500 by trading 6,375,000 tokens, and the ICO price is $0.38 per token. Users can trade BTC, USDC, ETH, and USDT for CFGs.

What other advantages does this platform offer?

According to Centrifuge, it has recently entered real-world asset TVL – a new category of Total Value Locked growth. After tokenizing, real-world assets, such as real estate, royalties, invoices, and other assets, can potentially bring trillions in new assets to DeFi. This particular protocol tokenizes real-world assets by converting them into NFTs on its Chain. Furthermore, real-world asset TVL measures the active RWA value being used for financing on Centrifuge.

Currently, the company has the highest TVL in the Polkadot ecosystem. It will also be among the first to launch a Parachain on Polkadot. The team decided to build Centrifuge chain on Polkadot for low fees and speed, while Tinlake, its financing Dapp, is built to access the massive liquidity on Ethereum. On the other hand, CFG has its own bridge to Ethereum.