What is NiftyPays?
NiftyPays is a Decentralised NFT liquidity Protocol enabling lending-borrowing and staking opportunities against NFTs( aka Nifties). It is an innovative and revolutionary concept, deeply and strategically brainstormed to benefit the exponentially increasing holders of Nifties (Non-Fungible Tokens). It will further fuel the wave of buying and holding NFTs, making them lucrative to investors looking for short-term gains apart from the increased value of NFTs over time and the pride of owning them.
How do we come into the picture?
When you talk about the NFT market, most investors associate the market with complexities. For example, if you hold an ERC-20 token, it can be easily traded for something valuable. However, NFT is a niche market with a niche audience. With that said, many individuals want to buy NFTs, but lack of liquidity and proper incentivization has obstructed global adoption. NiftyPays is bridging the gap between DeFi and NFT space by evolving NFTs as an Alternate Asset Class( AAC) via;
Users will be able to receive loans against their NFTs as collateral. The lending mechanic depends on the history and price predictability of the collateral.
- Staking/Delegated Staking
NiftyPays drives community adoption through its staking farm. Under the staking model, a user staking NFT from a listing partner on our staking module. Users who stake their NFTs on the platform will receive airdrops from partner projects on the platform, as well rewards in $NIFTY.
The NFT market has been highly overpriced and most investors want to enter the market but the ticket size of popular NFTs is too high. With the help of $NIFTY tokens, you can jointly own an NFT and sell your stake or earn royalties.
- NFT Renting
NiftyPays also provides NFT renting where anyone can hold the NFT for a short span and pay rent to the original owner for that time span. Once the contract expires between both parties, the NFT is returned to the wallet of the creator/owner.
What Problems NiftyPays will solve?
- It will solve the problem of illiquidity that is most prevalent in the NFT market. This is done by promoting lending and borrowing opportunities by using Nifties as collateral.
- Niftypays also ensures that NFT owners are rewarded for just holding their Nifties by getting rewards through NiftyPays’ Staking Farm.
- It also helps resolve the problem of client engagement for NFT creators/projects. At present creators(big and small) are more focused on the sale of their NFTs but there is no focus on client retention. With more and more creators launching their NFTs, the competition is increasing. By partnering up with NiftyPays, a creator’s NFTs gains added liquidity attributes which essentially can be used by them as a focal point to engage more users into buying and retaining their NFTs.
Give us a hi5 on social media:
Follow our official telegram announcement channel: https://t.me/NiftyPays_com
Follow our official global group: https://t.me/joinchat/R5a-Hgr0BhhiZjY9
Discord Channel: https://discord.gg/WZM5cg4