The Decentralized landscape has witnessed leaps and bounds, surpassing the imagination of the early curators and community. In the last few years, the industry has undergone an extensive transformation leveling up the playing field for new players. With NFTs foraying into the decentralized space, it serves as a concrete base for a massive revolution. Although novice, the NFTs have gained an increased momentum due to the propelling DeFi rally. The crypto-collectibles have garnered immense popularity fuelling creativity in the decentralized ecosystem.
The amalgamation of DeFi and NFTs represents an integrated effort to empower the prevailing financial landscape with technological innovation. NFTs are targeting the previously untapped revenue streams to penetrate into the mainstream for crypto enthusiasts. Some of the significant crossroads that limit driving the NFTs include lack of solid infrastructure, limited exposure, and expensive transaction costs. With Fusible, we focus on addressing the prevailing issues hampering the growth of the current NFT ecosystem.
Key factors barring the NFT Adoption
- While embarking on the journey with Fusible, we were quite clear of addressing specific apparent issues that limited the community from actively engaging in the NFT space. While chalking out Fusible’s effective plan of action on the technological front, we were also keen on providing a full-filling user experience. Some of the critical barriers constitute the following:
- Lack of Price Discovery Mechanisms: The prevailing infrastructure fails to provide refined price discovery mechanisms considering the inherent auction constraints with specific preset escape clauses. Small audience, time factor of auction processes, and lack of quality bidders constitute some limitations.
- Inadequate Liquidity: Currently, the prevailing tech stack doesn’t allow fractionalizing your NFTs seamlessly.
- Illiquid Marketplaces: With the existing constraint of fractionalizing NFTs, most of the crypto-collectibles are in the form of ERC-721 tokens. Since there is no mechanism for transforming these tokens into ERC-20, the NFT marketplaces are illiquid, leading to lower price action and network activity.
- High-Budget trades: Most times, users might face budget constraints while acquiring crypto-collectibles and simultaneously yearn to own them. In such cases, there ought to be mechanisms that promote fractional NFT purchases.
- High transaction costs: With the ever-escalating gas costs on the Ethereum Network, most times, creators are drained paying high fees executing the NFT creation process, resulting in low returns.
What is Fusible?
Fusible is an early-stage experimental NFT price discovery protocol employing a curve-based price mechanism to attain price equilibrium. It addresses the inefficiencies of auctions by using the folio of Bancor’s formula for refined price discoveries.
It focuses on redefining the NFT space by building smart solutions with functional attributes such as fractional ownership opportunities, refined price discovery mechanisms, creation of liquidity pools, and enhancing liquidity on NFT Marketplaces.
Diving into the dynamics of Early Adopters Reward Program
With the Fusible platform’s launch around the corner, liquefying the NFT Marketplaces is of paramount importance. Our vision is to create better price discovery mechanisms for both creators and collectors of NFTs to execute better trades, thus embracing the NFT ecosystem and encouraging new entrants. With the proliferating number of projects being explored, launched, and driven in the NFT space, it is most important to encourage users to join the Fusible community.
The Fusible team is striving to upkeep the dynamic pace of the NFT landscape, thus opening new avenues for the community to participate as forerunners in the growing Fusible ecosystem actively. We strongly believe that the Fusible Early adopters Reward Program will help the ever-increasing NFT community members with easy access to $FUSI tokens.
By announcing the Fusible Early Adopters Reward Program, we encourage early creators, collectors, and investors to join the Fusible community. The rewards program will commence from ‘Early Q2 2021’. Early creators will be rewarded the $FUSI tokens while depositing the NFTs and initiating the fuse process. Thus, allowing the creation of liquidity pools. Another mechanism of earning $FUSI tokens on the Fusible platform constitutes employing various yield farming strategies by staking the $FUSI token. Staking will allow community members to drive platform decisions through community votes on the proposals in a decentralized manner.
Initially, during the first quarter, 4000 per day, $FUSI tokens will be rewarded to the early community members to drive the platform growth. The incentivization scheme will witness a 30% reduction from the second quarter and henceforth.
Anyone from crypto professionals to aspiring NFT enthusiasts can participate in the program to earn $FUSI tokens by depositing and minting fractional NFTs and participating in the staking program on the platform. We encourage the community members to share their thoughts with us on the Fusible platform.
We welcome you to the Fusible community and are looking forward to growing the NFT Sphere.