NFTrade (NFTD) is a cross-chain non-fungible token (NFT) trading platform. NFTs are verifiably distinct digital cryptocurrency tokens that are neither convertible nor fungible with one another. This feature enables anybody to create, acquire, and trade one-of-a-kind digital goods with clear ownership rights and traceable history. The NFTrade platform aims to operate as an aggregator of all NFT ecosystems and host the entire NFT lifecycle, allowing anybody to create, trade, swap, farm, and leverage NFTs across multiple blockchains.
According to the litepaper, innovation in the NFT marketplace is essential to add value to the user experience and make the process simpler and more cost effective for the end users. Consequently, NFTrade seeks to bring in a decentralized trading mechanism accomplished through peer-to-peer swaps. Peer-to-peer (P2P) swaps allow two users to trade directly with one another without the need for third-party control or verification. With escrowed P2P swaps, a previously untapped segment of the market becomes much more accessible, producing significant value for everyone who wants to interact. Further, users retain complete sovereignty over their NFTs with the inclusion of multi-chain and cross-chain access. This feature seeks to enable users to take advantage of other networks benefits such as quicker transaction finality and reduced costs.
The platform further seeks to add social features as an initiative to foster community interaction and creativity within the NFT market. Finally, the platform seeks to provide an NFT launchpad. The launchpad feature aims to help enterprises acquire funding while also building a devoted community. They also allow ordinary traders to participate in initiatives that are typically reserved for an elite class of funders.
NFTrade’s native governance and utility token is called NFTD. Token holders that own NFTD have four major benefits—rights to govern, a reduction in platform transaction costs, the ability to stake NFTD in order to gain unique collectible and utility-based NFT, and access to special NFT launches and drops.
