CronosNode. An NFT as a Service Project
You may have read lately that the CronosNode project has been talking a lot about being an NFT as a Service (NFTaaS) project, but what is an NFTaaS and what changes might we see from this?
What is an NFTaaS?
NFTaaS will bridge the gap between basic artwork, product services and product security, by merging all items into one immutable item you find yourself with an NFTaaS product.
NFTs have been used to create collectable digital art and other forms of art but companies and projects are now seeing the possibilities of NFTs as more than just artwork. Celebrities, digital artists, gaming companies, ticketing companies, medical services as well as other everyday enterprises have capitalized on the technology and see NFTaaS as the next wave in the Crypto/Web3 space.
Ownership: NFTs are digital assets that convey ownership. These assets can be virtual or physical. Virtual real estate like land in Decentraland can be purchased and the owner owns the piece of land in the metaverse. Similarly, a digital asset can be a unique weapon in a game. A real-world asset like concert tickets or a house can also be represented as a token in the digital space. Ownership is completely traceable and clear as it is recorded on the public ledger.
Indestructible: NFT data is stored on the blockchain via the use of smart contracts. This ensures that each NFT is indestructible, unremovable and unable to be forged.
Immutable: By purchasing an NFT, the individual owns and possesses the digital asset in their own personal wallet. The NFT is therefore not owned by the company/project that had created it.
What changes might we expect in the CronosNode Project?
This is a question that we are sure will be on everyone’s minds, the simple fact is, it will change little as our Nodes have already been built with security in mind. From the start of the CronosNode Project, our nodes were built as NFTs.
The two (2) major changes you might see come to the project may be as follows:
- Max overall project mint cap for the Node NFT
- Increase in NFT Node use cases to encourage burn rates. This in turn will render the collection a deflationary NFTaaS project
CronosNode NFT Nodes offer passive income, where will the additional money come from once we have minted all the NFTs?
- Our CroSwap DEX will route a percentage of the money into our USGF which will subsidize a portion of the CronosNode LP.
- NFT Marketplace: A percentage of sales from our marketplace will also be routed into the LP. Additionally, as more and more NFT Nodes are burnt, they will inevitably increase in scarcity/value, increasing the sales value and by that increasing the Marketplace fee acquired.
- Reward Claiming: As it currently stands a small % of claims from our dApp is also routed into the LP
- Node Unlocking Fees
- Hijack Gamification Enable Fees
- Additional items are being considered.
Additional NFTaaS routes to market
NFTs and their growth in mainstream businesses have been exponential in the recent past, growing from a value of an estimated $100 million in 2020 to an estimated $41 billion by the end of 2021.
There are a number of routes to market for NFTaaS. These include but are not limited to;
CronosNode NFTaaS Socials
