A recent study shows that the overall value of NFT transactions has gone up over 400% in the last 12 months alone. That’s an increase of $240 million in one year. In that time over 222,000 wallets have been opened up to pay for NFTs or to store digital assets. In terms of sales, they have jumped up over $10.5 billion in the last quarter alone. This represents an 800% increase on the year before.
Digital platforms are seeing more traffic than ever and making the headlines with the world of NFT sales and individual transactions beating new records monthly. One of the beneficiaries of this rise in popularity is the CEO of premium NFT platform ENVOY. Bram Verstraeten believes that, “Looking into the future everyone will have NFTs at some point. This market will explode like never seen before and the adoption rate will skyrocket once large social media platforms start their own marketplaces.”
So with new NFT platforms popping up all the time, how is ENVOY different? Bram Verstraeten told us, “We are creating a product suite for collectors that rewards them for holding and showcasing their NFT. We will apply a traditional SaaS model but instead of subscription people can activate features by staking ENV tokens in LP pools. The usage of our feature set will basically be free.”
“ENVOY Network will focus on premium NFT projects that tap into the community and fanbase of an Artist or Brand. We will not run our own marketplace with tons of IP NFTs that are all centralized in one community, we at ENVOY believe that for every NFT there is a story and also a dedicated journey. Together with these NFTs we will offer a range of product features that people can use to utilise their NFTs in a different way. Cross-chain and work with all marketplaces.”
London is at the Front of the NFT Craze
London is currently riding an NFT frenzy with galleries and auction houses all in on NFTs, it appears that some geographical locations are stronger for than others.
Bram Verstraeten believes that “NFTs appearing in Art galleries is the first step to massive adoption. This is the case with every new technology.Adoption always starts in big cities and quickly expands from there. If the mainstream sees the interest of these galleries they might take a deeper look into NFT art and experiment with the newer, easier marketplaces that allow for fiat onramp.”
Bram is a huge fan of technology, perhaps you need to be to get so deeply entrenched in the blockchain. He loves “knowing how everything works and how it can be used. Working for over a decade in the petrochemical and nuclear industry I've had the opportunity to lead and help build amazing technology masterpieces. Due to my passion for project management I started specializing in developing efficiency and progress follow-up software.”
Through my career I had the opportunity to work with so many amazing clients from Bayer to Johnson & Johnson and finally Westinghouse. My absolute highlight would be the FCVS project in DOEL Power Plant.
“I was always invested in Blockchain because I believe and support new technology, my interest was even more sparked when I got closer involved with people that actually have a business in blockchain. My last project was in its final stages and I had the opportunity to become a founding CEO of ENVOY Network. I didn’t hesitate and got together with a trusted team of specialists.”
Rewarding Creators and Users
ENVOY recently secured funding of $2.5 million and they plan to use those funds to roll-out their ecosystem with Premium NFTs and product features all fueled with their utility token ENV that will be soon available. They also offer a tier system to keep creators loyal and engaged.
“We are exploring different NFT models, the space is evolving quickly and more and more innovative concepts are popping up each day. We basically want to create a space where everyone can have the opportunity to own an NFT. A tier system allows for lvl based NFTs where the community member that puts in a lot of effort can have a rare exceptional NFT without paying more for it. These are most likely also the loyal holders throughout your journey.”
Indeed ENVOY is also rewarding their community, “We want to create a product suite with features that creates utility for NFTs. A storm of people that hold NFTs without any use case will come and look for opportunities to make their NFT valuable. When users join our ecosystem they will be rewarded for using it.”
Vaults, Premium Collectibles, And The Metaverse
So what’s coming up for ENVOY? Vaults is the next big thing for NFTs. According to Bram, “The ENVOY Vault™ is a tool to create hype within and outside the community. Members that stake $ENV tokens will gain Collector Points (CP), this will reward a certain Level to your account. Vault entry is determined on what Level you are at that moment. To participate in an unlock event you will need to have the right Level and allocate $ENV tokens to unlock it. Members will be incentivized to share and talk about the Vaults to their friends and family to complete their collective goal of filling a Vault, which has the chance of unlocking an exclusive community tier NFT. You need a group to unlock 1 Vault.
The ENVOY Vault™ will be released in different tiers and the first conceptual community version.”
On top of collectible art, many NFT platforms and creators are getting heavily involved with the Metaverse, a unique parallel universe where games are played, digital items collected and exchanged. For ENVOY, this is the future alongside art, “Besides working on our premium NFTs and product suite we are also looking at the future of NFTs and are now exploring the gaming industry with one of our partners behind the scenes. More announcements about this collaboration will come in the near future. Stay tuned by joining our social media and community channels.”
Image Sourced from BTC Peers
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
