First, NFTNARA is an NFT ecosystem platform that is open to everyone (openness). Any legitimate creator can upload to the NFTNARA platform. Uploaded content will be evaluated fairly and transparently by platform participants. It supports cross-content trading on other NFT platforms as well. Sponsors support creators through word-of-mouth promotions, advertisements, and social media. Second, we will strive to keep transaction fees to the lowest level (Lowest Fee). We can maintain NFT minting and transaction fees at a reasonable level by creating added value for the entire ecosystem through the Token Economy. Creative royalties paid to creators are transparently and automatically paid up to the nth transaction immediately at the point of sale. Third, we provide fair compensation to all participants through cryptocurrency and token economy. Various contributors such as NFT registrants, buyers, nth purchasers, SNS sponsors, and NFT staking participants will be rewarded with tokens according to their level of activity. Penalties are given for actions that have a detrimental effect on the ecosystem and people who have committed such actions are excluded from participation in the ecosystem. Fourth, we prevent the monopoly of a small number of NFT writers and support a diverse group of global creators. NFTs are created by individuals or groups (labs) but must not be monopolized by a small number of stakeholders. We invite creators and creative groups globally and discover and support hidden creator individuals or groups through fair competition. Fifth, we NFTize various assets (physical and intangible rights, etc.) and pioneer the derivative NFT industry by disclosing intellectual property rights. Proof of originality and authenticity is a powerful feature of NFTs. As of 2020, the global art market volume has reached about $50.1 billion (about 60 trillion won). It is not that small compared to the semiconductor equipment market with USD 71.2 billion, the vehicle semiconductor market with USD 38 billion, and the record market with USD 21.6 billion. The US, UK and China account for 82% of the total art market.
We encounter difficulties in authenticating originals and trusting transaction information of artworks, antiques, antiques, treasures, and national treasures that exist offline. The artwork authentication and NFT distributed transaction ledger disclosure feature provided by NFTNARA will revitalize the real art trading market.
Sixth, build a micro NFT token economy through various NFT-related DApps NFTNARA is built as a DApp on an independent and verified mainNet. Therefore, we can develop various derivative NFT DApps in the future, and each Token Economy will be cooperatively and responsively activated to develop into a larger NFT ecosystem. Seventh, incubating and accelerating various NFT content lab startups Recently in the NFT industry, more and more free derivative creation ecosystems between creators and buyers are at work through characters, memberships, and derivative product collaborations. Such autonomous NFT economic activities can provide more business opportunities to NFT owners by attracting startups that apply NFT IP to various business models. As new investments in Creative Labs continue, NFTNARA is expected to eventually serve as an investor and incubator for NFT business creative creators, angels, and VCs. Eighth, provide NFT content data security and mass storage NFTNARA is using public blockchain such as Ethereum, BSC and so on but mainly Ethereum. Since recently most of major blockchain enter the NFT market place and support NFT generation for the creators, NFTNARA is working with those common blockchains so that our allied creators get more opportunity and open to the majority of crypto holders.
Ninth, expand the asset benefits of participants through Defi, Airdrop, and membership community services NFTs are also an important asset of Defi services, just like regular tokens. By investing in NFTs and staking them, you can accumulate platform tokens through yield farming. NFTs are tradeable assets themselves, and Defi through staking will be another means of asset growth. In addition, NFT holders can become members of an independent membership community and conduct various DAO activities through a strong status value function.
Tenth, through metaverse, VR, AR, XR, and MR, it is possible to expand UX and expand opportunities to increase assets.