Symbol Market Officially Live on aelf! Creating Web3 Tokens & NFTs Has Never Been Easier
Key Takeaways
- Symbol Market is launched on the aelf blockchain. Everyone is welcome to buy/bid for SEEDs to create their unique tokens/NFT collections.
- SEED serves as the exclusive credential on aelf which enables users to effortlessly craft tokens/NFT collections featuring symbols of their choice. This design is particularly friendly to individuals without a technical background or knowledge of smart contract deployment.
- SEEDs are broadly classified into three categories: common SEEDs, SEEDs with popular symbols, and SEEDs with notable symbols. While the first two types are available for purchase or bidding, the latter is exclusively reserved for projects.
It’s official! Forest is delighted to unveil Symbol Market, a cutting-edge DApp that empowers every aelf user to create their own tokens and Non-Fungible Tokens (NFTs) by acquiring unique SEEDs. Complemented by Forest’s NFT trading capabilities, Symbol Market is at the forefront of transforming token and NFT creation and management, striving to create a Web3 experience that is both accessible and personalised for all.
Key functionalities of Symbol Market include:
- Users can purchase common SEEDs at fixed prices, which are determined by the length of the symbol.
- Users can explore more popular SEEDs and place bids for them on Forest.
- Empowering SEED owners to create tokens seamlessly.
- Providing a platform for SEED owners to efficiently manage their SEEDs and the tokens they create.
🌱🌱🌱 Visit Symbol Market and secure a SEED now: https://symbolmarket.io/ 🌱🌱🌱
Mechanism of Token/NFT Collections Creation on aelf
Utilising aelf’s innovative mechanism for token and NFT collection creation, users are freed from the complexities of deploying smart contracts or coding manually. The unique SEED design, a one-of-a-kind feature, empowers even those with limited technical expertise to easily create their digital assets on aelf’ blockchain.
Simply buy or bid for a SEED featuring your desired symbol, and then utilise the SEED to initiate the creation of your token or NFT collection.
A SEED, by its inherent nature, is a distinctive NFT encompassing three vital info:
1 . Token/NFT Tag: Specifies whether the SEED is designed for creating a token or an NFT collection.
2 . Prefix “SEED”: Identifies that this is a SEED.
3 . Unique Symbol: Indicates the symbol of the token or NFT collection that can be created using this SEED.
For example, a SEED-TEA with an “NFT” tag permits its owner to create an NFT collection, including individual NFT items, with the symbol TEA. Conversely, a SEED-FANCY with a “Token” tag allows its owner to create a token featuring the symbol FANCY.
In essence, a SEED functions as an NFT equipped with unique capabilities, providing its owner the authority to craft tokens/NFT collections on aelf. And Symbol Market stands as the primary market where you can explore all the SEEDs and buy certain types of SEEDs.
Intrigued? Scroll down to explore the categorisation of SEEDs and the diverse processes of SEED acquisition!
Categorisation of SEEDs
Based on their rarity and other considerations, SEEDs are primarily categorised into three tiers: common SEEDs, SEEDs with popular symbols, and SEEDs with notable symbols.
- Common SEEDs: Available for purchase at a fixed prices, which are determined primarily by the symbol’s length. While the symbols of these SEEDs may not be particularly popular, they are a more affordable option for acquisition as they cost comparatively less. If you spot an available common SEED, you can purchase it instantly on Symbol Market.
- SEEDs with Popular Symbols: These can be obtained through auctions where the user with the highest bid acquires the SEED. The symbol of the tokens/NFT collections created using these SEEDs often convey specific meanings, such as GEM or TEA, making them rarer than common SEEDs. Note that auctions take place on Forest, and you will be directed to Forest when attempting to acquire such a SEED on Symbol Market.
- SEEDs with Notable Symbols: Reserved exclusively for acquisition by the project team of the token. Examples include SEED-SOL or SEED-MATIC. If this is the case for you and your project, please contact the Symbol Market team on Telegram for further discussion.
SEED Acquisition
Acquiring a SEED is a straightforward process, encompassing the following steps:
1 . Log in to Symbol Market by connecting your Portkey or NightELF wallet extensions or using your Web2 social credentials.
- Users who do not have an existing aelf wallet address can conveniently create one using their Web2 social information via the login panel.
- Portkey mobile users can also access Symbol Market in the App through the “Discover” section.
2 . Decide whether you wish to create a token or NFT collection, and switch the tab if necessary. Next, search for the symbol of your preference.
3 . Review the SEED details, such as availability for registration (purchase) or if it requires bidding.
- If it’s a common SEED available for registration, you can purchase it instantly on Symbol Market.
- If it’s a SEED with a popular symbol, you’ll be directed to Forest to initiate or participate in an auction.
4 . Once you own the desired SEED, use it to create your token/NFT collection.
- For token SEEDs, you can create the token on Symbol Market.
- For NFT collection SEEDs, the creation process takes place on Forest.
5 . View and manage all your SEEDs and owned tokens in the “My” section, accessible at the top right corner.
It’s important to note that SEEDs have a one-year expiration period from the time of creation. This means that SEED owners must utilise the creation rights within the specified timeframe; otherwise, it will become invalid.
🌱🌱🌱 Visit Symbol Market and secure a SEED now: https://symbolmarket.io/ 🌱🌱🌱
Symbol Market, with Forest, is at the forefront of transforming token and NFT creation and management. Together, they offer seamless token creation services and ensure widespread accessibility for individuals to own, manage, and trade NFTs. Paving the way for widespread access and adoption, the two unique platforms are transforming the Web3 space into a more inclusive and customisable environment, catering to the unique needs of every user.
