Is DNFTfomo Protocol a Data Money Printer OR an Online Betting Game?
The NFT(non-fungible token) market is booming recently, and the hyped project has emerged from international communities — the DNFTfomo Protocol. The groundbreaking design of the DNFTfomo Protocol claims to be the introduction of FOMO system+ artificial intelligence, a new trend of wealth effects that are most likely to reorganize the liquidity of the entire NFT industry.
- It is easy to get an NFT minted but hard to get it flow or circulate
The NFT market is striking as the NFT product itself is unique, permanent, and distinctive. Distinctiveness makes each NFT product special and absolutely scarce; NFT information cannot be manipulated, copied, or changed because it is stored on a blockchain, and remains forever, escorting scarcity; blockchain data. Ownership of NFT is distinct, uncontrolled by centralized organizations.
Naturally, NFT’s uniqueness, durability, and uniquity match modern artworks, collectibles, copyrights, betting, and so on, not just for encryption, but also for the real economy. Consequently, we regularly hear the words ‘NFT’ and the recent big firms, Well-known figures, influences, etc, reflect the coming growth of another blockchain application.
However, NFT is clearly different in quantity from Bitcoin, Ethereum may be batched and split, and NFTs may be exchanged only separately in terms one by one, as NFT is scarce and special. Unlike Ethereum may be split into transactions of a different amount. In addition, most existing NFTs need a certain time to realize their value and very few NFT works can be traded at high frequencies. Some NFTs can remain to be unnoticed for a few days or months. The experience in selling NFT is really poor and lacks circulation
Therefore, the liquidity of NFT is inherently insufficient and deviates from the expected prospects of the entire market, which makes the NFT market into a dilemma: it is easy to mint it and get signed on-chain, but it is difficult to change the liquidity entirely.
- Reforming the NFT Market Liquidity
There are two main reasons why the NFT industry has poor liquidity. One is that there are fewer NFT users and more platforms, which seriously affect the trading experience; the other is that most of the NFT works have insufficient wealth effect, which means that the transaction cost is too high and restricts the people to bid or buy something on NFT portals.
DNFTfomo offers an artificial intelligence + “FOMO” solution. It is obvious that although DNFTfomo is a new NFT platform, it has gained many big investments from Capitals like Sequoia and many more(names will be revealed next time). This is because DNFTfomo offers a possible NFT liquidity solution for the entire market.
Artificial Intelligence: DNFTfomo uses AI technology to come up with some NFT Platforms to avoid unvalued trades for preventing bad experiences while using the platforms. At the same time, uses big data for analyzing NFT works that are being sold on the platforms at an accurate price. Overall, optimizes the evaluation of buying an NFT work.
The FOMO Solution: DNFTfomo introduces the ‘FOMO solution’ in the auction, and will establish a corresponding token pool. Every round of an auction will trigger the FOMO mechanism. Successful bidders can get the NFT as usual. If the bid fails or loses to someone with a higher bid, the tokens in the pool will be divided and send to those participants who took part in the auction or bidding.
In 2019, the FOMO3D project was previously one of the most popular projects just because they use ‘FOMO’ in its name. The project created a transaction volume on the first-day launch of 8,000 ETH, which at the time was priced at over 30 million US dollars, as a gaming firm almost without marketing promotion. Many firms subsequently copied FOMO3D’s model and launched a public chain or DAPP for attracting capital and caused the whole NFT blockchain market to a world full of gambling applications.
Therefore, DNFTfomo’s innovative implementation of FOMO solution+ artificial intelligence is likely to reshape the liquidity of the entire NFT industry.
- Is DNFTfomo a Money Printer or a Betting Game？
Although DNFTfomo inherits the FOMO3D core concept of redefining NFT auctions, it will inevitably be contentious, as firms with FOMO terms usually introduce as gambling or betting game.
The DNFT Protocol was however turned into a convenient NFT aggregation network the year before the rebranding of DNFT ->DNFTfomo. It is possible to say that NFT products on DNFTfomo are good value products picked from the market by levying DNFT storage taxes to deter NFT valuables from doing wrong and by using DAO to retrieve or even burn malicious NFTs that do not bear certain costs. Value is given to products. The introduction of FOMO is simply a way of increasing the liquidity of the whole sector and gives the value of the NFTs, as well as the value of the collection.
Practical NFT has its unique scarcity, permanence, and uniqueness, coupled with the liquidity introduced by FOMO, DNFTfomo is not so much a betting or gamble game, it is better to say that it is a money-printing machine for data.
In addition, DNFTfomo’s mission is not only targeting the field of NFT arts but also includes data assets of hundreds of millions of dollars such as chip design. This proves that DNFTfomo is not born for gambling games. DNFTfomo has just announced its cooperation with SoftBank, the AI ECOSystem Consortium(#AIEC) as an ARM, referred to as the ARM Alliance. It is the largest acquisition in the technology industry in 2016. It invested 24.3 billion pounds to demonstrate its AI ambitions in the strategic acquisition of the alliance initiated by the protagonist ARM. It has members of AI giants such as SenseTime and Haier. There are currently more than 50 firms.
Summary: The NFT market is yet ready to boom, but the liquidity problem is stopping that. That is why DNFTfomo is here for solving the problem and revolutionize the current industry by using AI and FOMO solutions. DNFTfomo may be the “Money-printing” machine for NFT data and contributes to the whole blockchain while expanding the awareness of NFT.
