Author: Betty C Cave

Non-fungible tokens (NFTs) have emerged as a new phenomenon in the constantly changing digital world. In 2021 NFT hit and exploded, Non-Fungible Tokens (NFTs) have emerged as a new phenomenon in the constantly changing digital world.

In 2021 NFT hit and exploded in popularity, making people around the world talk about it. Now, even though NFT is not as popular as it used to be many people still believe in the potential of NFT as a valuable digital asset.

What is NFTs?

Non-fungible tokens (NFTs) are tokenized assets that come in various forms. The assets in NFTs have been assigned unique identification codes and data that separate them from other tokens.

NFT is a valuable asset so basically it can be traded and converted into fiat currency, cryptocurrencies, or other NFTs depending on where and to whom you sell NFT. To create a token for a picture of fruits in a basket, for example, you may use an exchange. The NFT may be worth millions to some people but nothing to others.

The main distinction between cryptocurrencies and other tokens is that cryptocurrencies from the same blockchain are fungible and interchangeable.

Unlike Bitcoin or other cryptocurrencies like it, NFTs are unique from the rest of them and cannot be divided. Each NFT is minted on a blockchain, providing an immutable record of ownership. Because of This NFT’s nature, the NFT opens up a lot of possibilities, like tokenizing digital artwork and collectibles.

NFTs from the same blockchain cannot be exchanged for one another even if they have similar appearances. If we see the NFT from a new perspective, these unique digital assets have challenged conventional ideas of ownership and value.

The Influence of NFTs

NFTs first emerged to be used for art purposes. However, NFTs’ influence nowadays reaches far beyond just the arts. Nowadays, NFTs affect many things, such as music, gaming, sports, and many other sectors.

Musicians can sell limited edition tracks directly to fans, gamers can trade in-game items securely, and even historical moments can be tokenized as NFTs, allowing ownership of digital memorabilia. NFTs’ versatile capability has made it become the tool that can connect the real world and the digital world.

Understanding NFT Launchpads

Launchpad is a platform that supports the beginning and development of NFT initiatives to help them succeed in their project launching and growing in the NFT ecosystem. Launchpad becomes important as the NFT projects need financial from investors to support them in ng the project.

Not only helping the project developer in looking for financial support, the launchpad allows NFT creators to present their NFT to a larger scale of audience. Launchpad also helps NFT creators in developing, marketing, and selling their NFTs on a trusted and secure platform, which can help them make some money while guaranteeing the investors get a premium and unique digital asset.

See also : Metaverse Cryptocurrency Launchpad

How NFT Launchpads Works

An NFT Launchpad functions by giving creators a venue to tokenize their assets and introduce their NFTs to a larger market. There are several steps to this procedure in NFT Launchpad works, those procedures are explained as follows:

1. Tokenization of Assets

Tokenizing the assets that will be utilized to generate the NFT is the first step toward releasing it on a Launchpad. Tokenization assets can be done by turning assets such as digital artworks, music, and collectibles into a digital asset that has value and can be used as digital representation on a blockchain. By turning assets into digital representation it can create a secure and individual record of ownership.

2. Token Sale

The NFT Launchpad will make it easier for interested investors to purchase the tokens after the assets have been tokenized. This can be accomplished via a variety of funding strategies, which we will go over in the following section.

3. Smart Contract Integration

Smart contracts are used by NFT Launchpads to control token distribution and sales. Self-executing contracts, or “smart contracts,” ensure that token sales and distributions are conducted honestly and openly by automatically executing when specified criteria are met.

4. Payment Gateway Integration

NFT Launchpads will need to have payment gateways to enable investors to buy the tokens using cryptocurrencies to facilitate the sale of tokens.

5. KYC/AML Compliance

Before letting investors buy tokens, they must confirm their identity by completing processes named KYC (Know-Your-Customer) and AML (Anti-Money-Landry). The KYC and AML process is needed to guarantee that only legal investors may participate in the sale.

Advantages Abound: Empowering Creators and Investors

NFT Launchpads offer advantages to investors as well as creators. For creators, NFT Launchpads offer them access to a wider audience, and launchpads’ resources, might also increase a creator project’s chances of success.

On the other side, investors have access to well-researched, prospective ideas that have undergone extensive due diligence. This is a blessing for investors, as they are now free from uncertainties regarding the business dealings of NFT.

See also : Web 3.0 Crowdfunding Ecosystem: Definition, Tips, and How to Choose the Right Web 3.0 Crowdfunding Platform

Example of NFT Launchpad

Several NFT Launchpads has emerged to provide others to curate their NFTs, in 2023 there are a lot of NFT launchpad that serve well. There are some examples of the NFT Launchpad that you might be interested in checking in:

1. Kommunitas Launchpad

The first NFT launchpad is the Kommunitas launchpad platform. Kommunitas launchpad platform is an excellent Web 3.0 platform that built-in Polygon ecosystem and is open to many kinds of projects such as NFT, Meta, gaming, and DeFi. This Launchpad offers a secure and decentralized transaction for the participant. It is also a special platform that introduces a tier-less system that gives fairness to the investors.

2. NFTb

NFTb is an NFT launchpad with various features that help enterprises and creators in developing their NFT projects. This platform focuses on helping project-based artworks, and games. and trading cards. It provides help to the project by raising funds through Initial NFT Offering (INO) and Initial DEX Offering (IDO).

3. Magic Eden

Magic Eden is a new NFT marketplace in the Solana Ecosystem which is a launchpad platform This platform allows the project to gain massive exposure, cross-chain minting, and access to the platform’s listing.

NFTs have opened up new opportunities for other investors and innovators of digital ownership. NFT Launchpad then emerged to give these investors and innovators a place to facilitate their dealings.

Metaverse is a concept of collective virtual shared space that is created as a result form of virtual technology and internet advancement. The concept of metaverse has now been discussed by people around the world as a new promising virtual world or become the second world. This led to another discussion on “how to create or build a metaverse”.

As the metaverse is a virtual world, most thing happens virtually including funding the project for metaverse building that is nowadays mostly done from the Metaverse Launchpads.

Metaverse Is Virtual World

Before we talk further, let us know what is metaverse. Metaverse can be said as a virtual world that is born from the advancement of technology. Innovation in the internet and computer technology such as social media, virtual reality, online games, and many other technologies is the source ideas for the concept of the virtual world born.

Metaverse represents the interconnected nature of digital spaces and experiences so it is not limited to a single platform or application, Almost everything that can support digital interaction whether it is direct or indirect interaction can be categorized as a Metaverse instrument. Nowadays, people can participate in experiencing Metaverse through online platforms such as online games, social media, virtual world, and many more.

Relation Between Metaverse And Cryptocurrency

As explained before, the Metaverse represents an interconnected virtual world where people are connected from a digital perspective. By using Metaverse, people can meet and interact in a virtual world and experience many things in their digital lifestyle. Since Metaverse uses a digital life and virtual world as a main concept and cryptocurrency is also a digital instrument that plays an important role in virtual world life, This leads to a question, Is cryptocurrency also a part of Metaverse?

The answer is no, cryptocurrency is not inherently part of the metaverse. But even if it is not a direct part of the metaverse, cryptocurrency can play a significant role within virtual worlds and digital spaces that are part of the Metaverse.

Cryptocurrency can serve and means exchanges, ownership, and value transfer within the virtual space. There are explanations of what cryptocurrency role in the Metaverse, which are explained as follows:

1. Become a Virtual Economy Instrument

Cryptocurrency can be integrated into many virtual worlds, online games and digital platforms in Metaverse have their economies where people can buy, sell, and trade virtual items, assets, and currencies. Integrating cryptocurrency with the economy inside the Metaverse platform, enables to creation of more secure, and efficient transactions between users, even across different virtual environments.

2. Helping Manage Ownership and Tokenizing Aset

Cryptocurrencies and blockchain technologies can provide a facility for the tokenization of virtual assets inside the Metaverse. By that, the digital assets such as virtual properties land, items, and other assets within the virtual platform can be represented as tokens on the blockchain. This allows virtual asset to be verifiable in its ownership, easier transfer, and potentially can be operated in the different platforms

3. Cross-Platform Transactions

As the Metaverse spaces become bigger and bigger over time due to the massive amount of Metaverse’s virtual platform, cryptocurrency can provide seamless transactions between different platforms.  By that, People can buy items, services, or experiences across multiple platforms within Metaverse spaces with a single cryptocurrency.

See also : Web 3.0 Crowdfunding Ecosystem: Definition, Tips, and How to Choose the Right Web 3.0 Crowdfunding Platform

4. Monetization and rewards

Cryptocurrency can be used as a reward for the content creators developers, and participants in virtual spaces for their contributions. By this method, content creators or the person who works using virtual space can have income in a crypto currency that they can use.

5. Decentralized Governance

Some Metaverse projects use a decentralized governance model for their own establishment. This kind of Metaverse project model makes decisions about the development and rules of the virtual world are made collectively by token holders. These token holders are often cryptocurrencies that grant holders voting power and influence over the direction of the metaverse

Launchpad That Supports Metaverse

A new Metaverse project that started from 0 had struggled with financial problems and some of the project developers had minimum experience because they were new to the Metaverse project. To overcome that problem, most project developers might go looking for help by applying their project to a launchpad that is created to help Metaverse-related projects.

The Metaverse Launchpad platform is a platform that was created and designed to help the Metaverse project. The Metaverse launchpad platform is a special platform that provides assistance for the launching of new Metaverse-related projects. The Metaverse Launchpad Platform helps the new Metaverse-related project to raise funds or gain exposure within the cryptocurrency community and Metaverse enthusiasts.

What Are the Benefits Of Using the Metaverse Launchpad Platform

Metaverse Launchpad platform offers help for new Metaverse projects to launch and grow. The Metaverse Launchpad platform offers big benefits for the developer such as helping to fundraise the project and often they also help in building community.

The Launchpad platform not only gives a Metaverse project benefit but also gives some benefit to the investors who participate in token sale events such as gaining interest from token sales and obtaining early tokens that are related to the project. Every Metaverse Launchpad platform has its terms and conditions for the investor can gain the benefit from the token sales.

Some Metaverse Launchpad Platforms

1. Kommunitas

Kommunitas is the best Metaverse launchpad that was created in the Polygon blockchain network. This launchpad introduces a tier-less system that offers flexibility and fairness for every participant who invests their resource in the token sales event. The Kommunitas launchpad welcomes projects from a wide range of industries such as Metaverse, NFT, gaming, and DeFi.

See also : Polygon Crypto Launchpad: Definition, Advantages and How It Works

2. Blockchain App Factory

The Blockchain App Factory is a launchpad that focuses on helping Metaverse NFT projects that are part of them. Their launchpad platform is designed to ensure a healthy existence by helping their users adapt to any situation. This launchpad is equipped with everything that is necessary system and features that can aid users in surviving the launch.

3. Softtik

Softtik is a Metaverse launchpad platform that provides a cutting-edge system as a launchpad. Their top-notch service allows them to reveal a rapid expansion for the next-gen technology. This launchpad offers the most promising launchpad solution with the scope of the future