NFTY Network Announces IDO on CyberFi
NFTYNetwork, the NFT utility management platform is pleased to announce its initial decentralized offering for its utility token, NFTY, which will go live via the CyberFi IDO Platform
In This Article:
- Singapore based NFTYNetwork will launch IDO on CyberFi Network on September 29th, 2021
- NFTYNetwork announces integration with NFTYConnect, the world’s first cross-chain NFT utility management platform
- NFTYNetwork aims to provide further interoperability across burgeoning Layer-One and Layer-Two NFT ecosystems
/For Immediate Release/ SINGAPORE (September 26th, 2021): NFTYNetwork, the NFT utility management platform is pleased to announce its initial decentralized offering for its utility token, NFTY, which will go live via the CyberFi IDO Platform on September 29th, 2021, at 1700 UTC. CyberFi also looks to incubate NFTYNetwork, helping them progress their product suite at a faster rate.
NFTYConnect is one of the primary products that NFTYNetwork powers. NFTYConnect acts as a Web 3.0 Access management tool to enable community growth, akin to another popular web 2.0 growth tool like Gleam.io. The NFTYConnect product ecosystem currently consists of Android, iOS, and web apps, allowing for unrivaled access to Web 3.0 users and token gating options. NFTYConnect enables any brand, creator, or community owner to create and launch token gates, to enable web 3.0 paywall access to private content, private communities, etc.
The average holder allocation is capped at $10,000 USD and the total raise is aiming to achieve a total of $400,000 USD. The Launch will take place on the CyberFi platform on the Ethereum Network. Users must go through KYC (know your customer) in order to participate.
CyberFi incubating NFTY Labs
NFTY Labs will also join CyberFi’s incubation program, where CyberFi will work with the NFTY Team to enhance the progress of the NFTY Product Suite. CyberFi’s Senior team brings decades of experience in the technical fields along with product development, and startup growth experience. Together both teams can leverage each other’s ecosystem to increase the magnitude of one another’s products.
NFTY Supply — The NFTY Utility Token is an ERC-20 utility token on the Ethereum mainnet with a total fixed supply of 1,456,240,353 NFTY. The NFTY token is natively supported in the Ethereum environment, but future plans could involve having the token hosted on other blockchain networks, and/or Ethereum Layer 2 scaling networks.
Token Distribution — Tokens are distributed in reaction to various events, starting with the launch of the NFTY platform and its continued progression. Tokens are emitted via an inflation mechanism to enable tokens to be in the hands of individuals who will use them the most.
CyberFi’s product suite, also known as Samurai, is a decentralized cross-chain crowdfunding launchpad that specializes in raising capital and building dedicated communities for new and upcoming projects. CyberFi launchpad hosts DeFi, NFTs, and Layer 2 protocols. Conveniently, CyberFi also has a Stakepad that allows successful launches to immediately allow projects to stake and open up mining liquidity pools.
If you have ever participated in an IDO on a DEX before you know that the experience is lacking, usually due to the user interface. CyberFi changes this by giving users new trading features and addons which come together to provide a more fluid feeling for the user. Some of these tools include Automated DeFi trading and farming, smaller fees, and tools for impermanent loss mitigation. Trading on CyberFi feels like trading on a centralized exchange, but with all the capabilities of a decentralized exchange.
CyberFi boasts a large group of partners including Chainlink, Ferrum Network, and Polygon just to name a few.
About NFTY Labs
NFTY Labs is a foundation focusing on the growth of NFT ecosystems by building open-sourced, community-based tools that will unlock inherent utility and value within NFTs. NFTY Lab’s goal is to create new applications that offer new utilities for NFTs, and we aim to do this by utilizing a core feature of all NFTs: ownership.