NFTrade, a multi-chain NFT exchange, aggregator, and farming platform, has announced to launch its first Innovation Hub IDO with a vision to connect the fragmented NFT industry. The platform hosts the complete NFT lifecycle that allows anyone to seamlessly buy, sell, create, swap, farm, and leverage NFTs across multiple blockchains. As a part of this project, NFTrade has entered into a strategic partnership with SpacePort, a customer-oriented open IDO platform built on Plasma Finance. The platform democratizes project fundraising by helping customers to gain protection over assets exposure while allowing projects to raise funds safely.
With this collaboration, the SpacePort community will be able to access the NFTrade ecosystem, which will, in turn, generate additional value through PPAY token holdings. Unlike other NFT platforms that offer limited functionalities and levy restrictions in the way users can interact, NFTrade employs full coverage of the NFT ecosystem across multiple blockchains, thereby allowing users to access the complete value of their NFTs. With this objective in mind, the NFTrade team will be holding an Innovative IDO on 9 separate launchpads for their NFTs (utility tokens), and partnering with SpacePort is a giant leap towards that objective. As per reports, a total of $50,000 worth of NFTrade utility tokens will be available on SpacePort, along with additional IDO spread across multiple blockchain launchpads. This partnership with Plasma Finance (and SpacePort) will also help users to access various DeFi projects.
The NFTrade IDO is scheduled to take place on June 30, 2021. However, the exact time of the IDO has not yet been revealed by either of the platforms but is expected to be revealed before the launch date to prevent fake token circulations. After completing the IDO, a trading pool will be automatically created on PlasmaSwap, allowing token holders to begin trading, thus accumulating additional NFTs right after their launch. NFTrade will continue working with SpacePort (and Plasma Finance) by implementing PPAY-based NFT farming, even after completing the IDO. This will bring in more value to their platform as well as for the token holders, thus allowing them to put their idle tokens to use for generating additional revenue in the form of earnable NFTs.
With NFTrade’s PPAY-based NFT farming application, users will be able to stake PPAY for earning exclusive collectibles and utility-based NFTs, like a simple piece of art, or a utility-based NFT that confers users beta access to the new Plasma Finance applications, or provide them allocation rights to some of the upcoming IDOs, or may even provide for a reduced transaction fee on the NFTrade platform. Apart from these, all the PPAY users are also entitled to additional returns on their NFT holdings irrespective of their NFT properties.