Niftify Limited LLC, the all-inclusive NFT platform, announced the initial exchange offering (IEO) of its $NIFT tokens with cross-chain investment ecosystem Synapse Network. Currently in beta launch, the Niftify platform allows people to mint, buy, sell and swap NFTs.
Within the Niftify ecosystem, NIFT tokens are native utility tokens for the protocol and are used to incentivize actions across the system. NIFT allows users to receive discounts when paying fees. Specifically, users only pay 2.5% in fees instead of 5% when paying with other cryptocurrencies or fiat. Additionally, NIFT token balances are used to determine the level of access to special features, such as early access to new and exclusive drops, premium custom profiles, and access to “members-only” areas.
Leading up to Niftify’s IEO, Niftify will complete two pre-public sales with Synapse Network. The first, Pre-Public A, is open today, November 16, with 750,000 NIFT tokens for sale at $0.20 each. This accounts for 0.35% of Niftify’s supply. There is a hard cap of $150,000 and a $500 limit per individual with linear daily vesting over 10 months. The second sale, Pre-Public B, will take place on November 17 with 600,000 NIFT tokens available at $0.25 each. Accounting for 0.375% of Niftify’s supply, there is a hard cap of $150,000, a $1,000 limit per individual, and there will be linear daily vesting over 8 months. These token sales are in addition to tokens issued pursuant to SAFE/SAFT and subject to an emissions schedule from a prior pre-seed round in April 2021.
“We launched Niftify with the goal to create the world’s first all-inclusive platform to create, buy, sell, and swap NFTs, unlocking the true potential of the metaverse and beyond,” says Bruno Ver, co-founder and CEO of Niftify. “Our IEO will enable us to grow faster and go further in our mission to deliver on the promise of NFTs and unlock their true potential.”
Niftify is a user-friendly platform aiming to facilitate users to automate digital and physical redemptions. Unlike other platforms, creators are incentivized to mint and sell their own NFTs to benefit from the functionality of smart contracts, and also offering them the opportunity to earn royalties of all future sales of their minted NFTs by using the Etherum royalty protocol . NFTs on Niftify are also used as proof of ownership and history tracking for even physical items, as well as proof of authenticity for valuable digital and physical assets.
The sale is open to people around the world, with the exception of residents of USA, Canada, China, Iran, Libya, North Korea, Syria, Cuba, Afghanistan, and Crimea (as a part of Ukraine).