A pioneer in the cryptographic space, Nftfy will revolutionize the industry by becoming the first decentralized protocol that enables NFT holders to Fractionalize their Non-Fungible Tokens (NFTs) in a trustless and permissionless manner.
The highly sophisticated — yet user-friendly — Nftfy platform utilizes smart contracts to Fractionalize digital assets into several ERC-20 compliant components while ensuring that each component is backed by the NFT itself.
At present, the leading NFT markets are peer-to-peer marketplaces that lack the level of liquidity required to determine an appropriate/reliable valuation for a given NFT.
Nftfy’s decentralized Marketplace will solve this issue as the platform will enable users to trade Fractionalized components of NFTs which will add a significant amount of liquidity to the market. The added liquidity will allow for much more accurate NFT valuations in real-time.
Imagine a world where NFT ownership was no longer singular and each NFT could be its very own market, a world where you could own your very own Fraction of an NFT like the piece of a beautiful puzzle. Today, June 8th, that world is upon us: Nftfy is launching its NFT Marketplace
on Ethereum! Now, everyone can easily trade Fractions of NFTs and enjoy a new world of possibilities in the DeFi ecosystem through the NFT Fractionalization process.
What is a Fractionalized Asset?
Fractionalized assets are dividing an asset into smaller increments to make significant investments more attainable for all. Imagine a piece of digital art as a puzzle that you can now own a piece of.
Through tokenization, Nftfy allows one to transmute the value of an NFT into token form freely. As a result, you can partition the value of the NFT as you see fit by dividing the NFTs value by token number and ultimately purchase ownership in a portion of an NFT.
What Makes This Significant?
The Fractionalization of the NFT market is significant for a few reasons. Firstly, it allows NFTs to be liquidity-enabled. NFTs will attain and retain a more stable price action through liquidity, solving the main limiting factor in NFT ownership, volatility.
Secondly, this smaller distribution will open up the world of NFT investing to smaller investors and allow people to diversify their NFT portfolio, in turn lowering risk.
These two profound changes will make the NFT market more inclusive to all.
Making NFT Trading Sustainable
Currently, NFT acquisition, trading, and ownership are plagued by risk and high barriers to entry. Traditional NFT ownership involved committing a large sum of the cash for ownership in a product with no capacity for precise price discovery. Making NFTs by their very nature incredibly volatile, difficult to obtain, and most of all hard to diversify your holdings.
With the advent of Nftfy Marketplace, anyone can freely create and launch their very own Fractionalized NFTs. This profound innovation will empower a free-flowing and sustainable NFT economy that is a far cry from the marketplaces of today. This improved NFT economy is accomplished through the inherent increase in liquidity, price discovery, and trustless user-driven market that the Fractionalization system produces.
These distinct advantages allow not only Nftfy Marketplace to flourish but the entire NFT market as a whole. This revolutionary Fractionalization platform will empower NFT creators, traders, and speculators like never before. Learn more about how it bolsters these individuals here.
*Nftfy’s industry redefining marketplace will be live on June 8th*
Here’s How it Works
Nftfy platform has three easy steps to get your Fractionalized NFT up on the marketplace and trading freely: Fractionalization, Redeem, and Claim.
Simply connect your wallet to the Nftfy platform here and select the NFT you would like to Fractionalize. From there:
- Set the price that someone needs to pay to extract the NFT (in any ERC-20 token).
- Approve the transaction: once approved, the NFT is transferred from your wallet to the smart contract.
- You receive 1,000,000 ERC-20 tokens representing Fractions of your NFT, effectively turning your NFT into its own market!
To redeem your NFT, you must pay your predetermined Exit Price. This payment can be issued with any mix of Fractions and coins to reach the exit price value.
But what if someone redeemed an NFT, and you still hold Fractions of it?
All you have to do is utilize the Claiming process. The platform will exchange your Fractions at the click of a button for a proportional amount of coins stored in the smart contract’s vault.
However, this is only the beginning. Nftfy is already multi-chain to fuel the growth of the NFT market on a global scale. For a more detailed explanation, check this user’s guide on how to use the platform.
Who’s it for?
Nftfy prides itself on being an all-inclusive platform, but let’s highlight a few of the individuals who can benefit the most. Firstly, the speculators of the nftfy world will be able to partake in the thrills of a new, diverse, and ever-growing market. Nftfy provides an opportunity for arbitrage, fractional trading, and farming. These opportunities get amplified by Fractionalization’s innate ability to keep volatility under control, providing a safer environment for traders.
Secondly, collectors will look to benefit from the native variability and stability that a Fractionalized NFT system provides. Through the Fractionalization of these NFTs, collectors have the opportunity to amass not only a vast collection but a stable one as well.
Finally, and most importantly, creators will be able to use Nftfy as a pseudo-launchpad for all of their original content. Creators of today are financially decimated by content theft and unfair contracts with distributors. Utilizing Nftfy, every creator will be able to Fractionalize their content as tokenized NFTs. Those mentioned above will ultimately bring creators the compensation they deserve for their work.
Nftfy is a robust decentralized open marketplace that enables anyone to effortlessly monetize digital assets with no coding skills required.
Nftfy’s Fractionalization will enable a more sustainable NFT marketplace. Through the lowering of volatility and entry using their intelligent liquidity system, Nftfy has the opportunity to revolutionalize a thriving market, which effectively turns every NFT that is tokenized into its own market.
The Nftfy Marketplace is the environment to launch and trade the ERC20-compliant Fractions fully backed by NFTs. It is a user-friendly front-end to create and interact with Fractions of NFTs, NFTs, and Liquidity Pools. Check the Nftfy Marketplace here.
Disclaimer: This is a paid post and should not be treated as news/advice.
Is Margex A Scam?
Margex is a derivatives crypto exchange that offers margin trading with up to 100:1 leverage. Margex was designed as a fair, transparent, and secure exchange focusing on excellent user experience
- Best usability on the market.
- Easy to start yet includes advanced pro features.
- Real-time on-screen deal indicators such as trading fees, financing, PnL, etc.
- Simultaneous use of stop-loss/take-profit to set and forget trades.
- Unique MP Shield™ AI-based system protecting users from price manipulation and unfair liquidations.
- Prices never deviate from that of leading spot exchanges.
- Adjustable isolated leverage with up to 100x available.
- Trade BTC, ETH, LTC, XRP, EOS, and YFI.
- High liquidity provided by verified external liquidity providers.
- Competitive fee structure.
- No KYC is required to use our platform.
- Referral program offering 40% flat rate commission.
- No overloads, 99,99% uptime
- Combined order book & 12+ liquidity providers
- Very competitive fees
- Industry best security practices
Margex offers competitive trading fees which are lower than competing platforms, including Bybit.
Currently, Margex charges a 0.019% Maker Fee and a 0.060% Taker Fee for trading Bitcoin. In contrast, Bybit charges a 0.025% Maker Fee and a 0.075% Taker fee for trading Bitcoin.
|PAIR||MAKER FEE||TAKER FEE||FUNDING/LONG||FUNDING/SHORT||FUNDING INTERVAL|
Is Margex Safe?
Despite being a newly launched platform, Margex takes the safety and security of its clients seriously. The company boasts some of the most sophisticated security features to protect client data, funds, and trading activities. This includes:
- The use of cold wallet storage
- Blockchain-based trading platform
- Price manipulation and fraud prevention
Why Should You Trade On Margex?
The Margex website and trading platform were designed with user-friendliness in mind. Beginners are supported with articles, videos, trading lessons, and price analysis to build an understanding of the space.
This makes Margex an ideal platform for beginners looking to improve their skillset and knowledge as they find their way around the crypto market.
Margex’s liquidity pool system is the first of its kind in the crypto industry. This innovative feature combines over 12 liquidity providers into a single, deep order book, ensuring the best possible entry and exit prices with the thinnest spreads available on the market.
Add to that the most competitive trading fees in the industry and the advantages are clear.
Security of Funds:
When it comes to depositing or withdrawing funds, Margex has many security features, such as:
- 2FA authentication
- Email confirmations for all withdrawals
- Security questions/phrases
- Wallet whitelisting
- 24/7 customer support
Logging into the Margex trading platform presents the above screen. From here, accessing the full functionality of your account is an intuitive process driven by the options bar at the top of the page.
The Margex Referral Program allows you to earn Bitcoin by inviting others to trade on the platform. You get 40% of the fees paid by your referrals. Payouts are made daily into your Margex account. Here’s how to get started:
- Sign up on Margex
- Login to your account
- Go to the ‘REFERRAL‘ tab
- Scroll down, and you’ll find your referral link, including your unique code
- Click to copy the link and share it with your friends and other traders
You will see your statistics on the referral page once your referrals start trading. It also shows the total number of people referred by you, and how much you’ve earned in BTC from those invitees.
Sign up on Margex ㅡ https://margex.com/app/signup
India May Imposes 2% “Equalization Levy” on Offshore Crypto Exchanges
India intends to impose a 2% “equalization levy” on investors on cryptocurrency trading transactions from offshore exchanges that provide services to the Indian market, citing the local media sources.
Per a report in the Economic Times on Tuesday, investors may burden extra cost by paying a 2% tax on the settlement price of cryptocurrencies purchased from overseas cryptocurrency exchanges operating in India.
Girish Vanvari, the founder of tax advisory firm Transaction Square, told Economic Times that:
“The levy is on the selling price and companies may be required to add this to the cost of the crypto assets.”
The issue of cryptocurrency regulation has always been a controversial topic in India. Taxation imposing on cryptocurrency transactions may also face a series of challenges in practice. Amit Maheshwari, a tax partner at tax consulting firm AKM Global, believes that it will be complex for the Indian government to levy this 2% equilibrium tax before a fully encrypted asset regulator has been established.
He added that:
“In the absence of any guidelines on the treatment of crypto-assets, there is ambiguity in how these would be treated under the tax laws and FEMA (Foreign Exchange Management Act).”
The Indian government has remained a skeptical attitude towards cryptocurrencies for a long time.
The authority was considering three key aspects to review crypto-related bills recently—the first two around whether new rules can be enacted to accommodate cryptocurrencies. The authorities are trying to explore which areas or types of crypto-related activities to permit or ban entirely.
As early as 2018, The Reserve Bank of India (RBI) declared a clampdown on crypto based on the Supreme Court’s directive. However, the RBI now claims that the older circular can no longer be referenced as it is no more valid based on the date discrepancies.
“Mad Money” Host Explains Why He Sold His Bitcoin
The host of CNBC’s “Mad Money” has admitted to offloading most of his Bitcoin holdings as the asset continues to tumble in price.
Jim Cramer made the revelation on June 21 during an interview with CNBC’s Squawk Box, in which he cited a number of reasons for his decision to sell.
“Sold almost all of my bitcoin. Don’t need it,” Cramer said, citing China’s mining crackdown as the primary reason. He acknowledged that Bitcoin is a direct threat to the Beijing regime and its tight grip on capital flow within the country.
Cramer has previously described his Bitcoin ownership as an alternative to a cash position. However, he is becoming increasingly concerned over regulatory pressure in the U.S. as well as in the Far East.
A number of U.S. politicians and lawmakers have outright derided crypto assets due to their role as a payment method in recent ransomware attacks on American business targets.
China Fears Mounting … Again
China seems to be the primary driver of the selloff, however, which has seen Bitcoin dump 45% since the beginning of May. Speaking on the nature of things in China, Cramer added:
“When the PRC goes after something, they tend to have their way. … It’s not a democracy. It’s a dictatorship. I think that they believe it’s a direct threat to the regime because what it is, is a system that’s outside their control.”
Since the big mining crackdown and resultant exodus, Bitcoin’s hashrate has plunged 48% to current levels of around 89 EH/s. It hasn’t been this low since late October 2020. Cramer commented on the premise that BTC prices should increase if mining is limited:
“Instead of thinking that bitcoin should go up if it is outlawed or if it is made tougher to be mined, Bitcoin goes down as if people are saying ‘I’ve got to redeem’ — when you limit mining, it should obviously go up unless there’s a worldwide redemption.”
Weak Hands Selling Bitcoin
It appears that the same old FUD regarding China and another crackdown, U.S. regulation, and even Tether fears have all resurfaced again to quash another bull market.
Weak hands will sell-off and panic, while those that have seen it all before are likely to hodl through the pain until the next upswing.
MicroStrategy CEO Michael Saylor appears to be one of the latter, having purchased a further 13,000 BTC yesterday, worth around $490 million at the time.
At the time of press, Bitcoin was trading down a further 3.5% on the day at $32,900. The asset has slumped 19% over the past seven days and is in danger of dropping back below $30K again.
Grayscale Parent Company to Purchase Ethereum Classic Trust Shares Worth $50 Million
Grayscale plans to buy $50 million worth of shares of the Grayscale Ethereum Classic Trust (ETCG).
Grayscale’s parent company, Digital Currency Group (DCG), revealed that it was planning to authorize the purchase of shares of the Grayscale Ethereum Classic Trust (OTCQX: ETCG) worth up to $50 million.
Digital Currency Group Doubles Down on Ethereum Classic
The company made the announcement via a press release on Monday (June 21, 2021). According to DCG, it would purchase the ETCG shares on the open market using cash.
The ETCG shares purchase authorization follows similar moves made in March and May 2021. In March, DCG announced the authorization purchase of its flagship product, Grayscale Bitcoin Trust (GBTC), worth up to $250 million. Later in May, Grayscale’s parent company increased the GBTC share purchase to $750 million.
Grayscale’s interest in Ethereum Classic likely contributed to a major price rally for the token sometimes dubbed “the other Ethereum” back in April and early May. At the time, ETC outperformed Ether amid a parabolic price action advance also driven by retail hype and favorable social media sentiments.
An excerpt from the announcement reads:
“The share purchase authorization does not obligate DCG to acquire any specific number of shares in any period, and may be expanded, extended, modified, or discontinued at any time. The actual timing, amount and value of share purchases will depend entirely upon a number of factors, including the levels of cash available, price, and prevailing market conditions.”
However, ETC’s positive price performance at the start of the year did not extend beyond early May. Like the rest of the crypto market, Ethereum Classic has plummeted in value in the last two months from an all-time high above $150 to about $40 as of the time of writing.
Grayscale Investments, the largest digital asset manager in the world, has over $32 billion in assets under management (AUM). Back in April, Grayscale’s AUM crossed the $50 billion milestone following bitcoin’s all-time high (ATH) at the time.
Meanwhile, the digital asset manager is among the U.S.-based companies who have submitted a proposal to the Securities and Exchange Commission (SEC), for a bitcoin ETF. As previously reported by CryptoPotato, Grayscale revealed that it would convert its GBTC Trust to a Bitcoin ETF.
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