How Can Matry Solve the Issue of Liquidity Within the NFT Marketplace?
In this second article, we will be delving into the intricacies behind the Matry ecosystem that enables NFTs to improve their liquidity status for the future. This means that NFT holders will have both a quicker and more streamlined process when they decide to sell their NFT, and consequently, those inquiring to purchase an NFT will have more availability to do so within the marketplace.
The Matry ecosystem largely improves the liquidity of NFTs through the diverse connections their systems have with the major blue-chip NFT marketplaces across the cryptocurrency industry. These connections, therefore, have to represent industry-leading interoperability capabilities so as to ensure that Matry will be considered the one-stop-shop for selling, holding, and purchasing NFTs within the world of Blockchain far into the industry’s future.
What Amenities Are Provided With NFT 2.0 Versus Conventional NFTs?
In our introductory article (check out here), we talked about how Matry’s NFTs, coined NFT 2.0, can be created nearly instantaneously by using the Matry NFT creator template and therefore add the various DeFi functionalities to the NFT that then earns its evolutionary asset status. These DeFi functionalities thereby allow one to earn passively from simply holding their NFT, in the form of synthetic assets pegged to blue-chip tokens like BTC or ETH. These synthetic assets are verifiably representative of the actual asset due to Matry’s requirement for a set amount of the asset to be provided by a liquidity provider before the synthetic asset itself can be minted. Put simply, with every 1 mADA there will be 1 ADA provided as liquidity within the Matry ecosystem, so these synthetic assets can be readily traded to the actual token at any point in time.
Now, assuming you are an NFT creator and have distributed your NFT with your enhanced DeFi capabilities out into the blockchain; How does Matry streamline the sales distribution of your NFT to the community who seeks it?
This goes back to Matry’s industry-leading interoperability features, specifically in how it is connected to OpenSea, Rarible, and Polkadot’s Substrate.
Marketplace Bridge #1: OpenSea
OpenSea is currently the most popular NFT marketplace across the entire globe (OpenSea’s metrics as of Dec 27 2021 are outlined in the graph below) and is undoubtedly the best place to leverage one’s NFT within cryptocurrency. The Matry protocol ensures that every NFT 2.0 created within the ecosystem will have direct access to the OpenSea marketplace, but will not succumb to the inordinately high gas fees inherent to the Ethereum network where OpenSea is hosted on. Instead, the actual sales of the NFT will be hosted on Matry’s unique blockchain, so as to avoid any transactional fees associated with selling or purchasing the NFT.
Marketplace Bridge #2: Rarible
Rarible is similar to OpenSea in that it is an NFT marketplace that runs on the Ethereum blockchain. Rarible, while being highly popular within the NFT sector, cannot compare to the Network Effect that OpenSea has created for itself. However, Rarible has various components to them that could make them a highly prosperous NFT marketplace going further into the near future. That is why the Matry protocol has preemptively built strong ties to this developing NFT ecosystem.
Marketplace Bridge #3: Substrate
Finally, Polkadot’s Substrate, an interoperable hub unique to any other blockchain within all of cryptocurrency. Due to the complexity and sheer ingenuity behind the integration with Substrate, we will have an entirely separate article outlining what this entails for enhancing the Matry ecosystem. To put it succinctly, our connection with Substrate will give our community the ongoing capabilities to connect with every significant NFT marketplace within all of blockchain. As a result, the Matry protocol will leverage the technology behind Polkadot to dynamically evolve its interoperability across marketplaces and will be the central force behind achieving and maintaining its high NFT market exposure for our community.
Matry is Optimizing NFTs for Every Cryptocurrency Sector
It is important to note that, while this article specified the ways in which NFT 2.0 holders created within Matry will become the recipient of gold-standard marketplace exposure across various blockchains, the enhancement to the NFTs themselves can also inherently increase the tradability of these assets. The improvement in the NFTs will be sector-specific so as to maximize the utility of each type of NFT for each holder.
For example, with the uprising of the Metaverse and GameFi, the Matry protocol is actively finalizing DeFi functionalities to the NFT 2.0s that will maximize the assets' usability and tradability in-game. The specific enhancement for our NFTs within the GameFi sector will also provide players holding these in-game assets within the metaverse an additional source of passive earnings.
Conclusion
We are creating the Matry ecosystem so as to revolutionize the selling, purchasing, owning, and utility-based for NFTs of the future. Experts believe that the NFTs which prove to demonstrate resilience in forthcoming years will likely need to be backed by pragmatically useful technology, in fact, Morgan Stanley expects NFT market growth to $300B by 2030 (from the current $11B). In this respect, we feel that NFT 2.0 created by the Matry protocol will become the standard for how NFTs will be created going further into 2022 and onwards.
Check out our documentation here to better understand the underlying technology and tokenomics that make up the Matry ecosystem.
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