The NFT platform and community hub SparkWorld* signs a partnership deal with Kalao, one of the most sought-after NFT marketplaces built on Avalanche. The new journey hopes to open up new avenues in the field for buying, trading, and selling NFTs. They held onto this promise by introducing the first-ever Fair Prediction Competition for NFTs.
As per the terms of this competition, ten lucky users will get the chance to get to the whitelist upon successfully predicting the price of the NFT collection before the sale ends. The NFT collection in question is titled “Love is in the Air,” representing fractional ownership of the Banksy artwork purchased for $12.5 million from Sotheby’s by Particle.
Particle is an NFT collection platform that fractionalizes the artwork to offer them collective ownership. Every fraction or particle is unique and remains a part of the original work of art, and these particles can be traded openly in NFT marketplaces.
The NFT collection “Love is in the Air” is based on a masterpiece created by the pseudonymous street artist Banksy. This culturally valuable piece represents the hostile political environment of our time and the universal solution to it. The artwork was purchased on May 12, 2021, divided into 10,000 fractional NFTs.
The first round of this NFT sale has already met with immense success on Kalao as the drop sold out faster than anticipated. The NFT marketplace has listed another 100 from the collection, and surprisingly 55 of them have already been sold. There are currently 45 NFTs remaining, with ten more kept separately in a different wallet.
NFT enthusiasts can participate in the Fair Prediction Competition for the fractional ownership of this NFT collection. Ten winners who come closest to the original price in the competition will be given the ten whitelist spots. Users need to submit their predictions through the link given in the official blog post before May 18. Winners will be announced on May 20 after the sale ends.
This new move from SparkWorld* and Kalao will bring much-needed exposure for fractional NFT-based ownership. This partnership will also bring in other exciting NFT ideas to the communities based on the success.
Besides the NFT ventures, Kalao is also developing a metaverse called The Citadel. This project is designed to work on top of the virtual NFT galleries of Kalao. Furthermore, the marketplace allows staking and farming features for users with support from Pangolin.
So, the roadmaps for the future from this partnership could potentially explore these areas. According to CEO Hassan Benahmed from Kalao, SparkWorld* has a clear idea about the projects’ future and the challenges in the industry despite being new to NFT Avalanche’s space. It means the communities can expect more lucrative deals from the new partnership.