An Initial NFT Offering (INO) is a new cryptocurrency crowdfunding innovation — based on the concept of Initial Coin Offering (ICO) — that involves offering a set of limited edition NFTs for sale via the Only1 INO Launchpad. As the NFT market matures, Initial NFT Offering rises as a solution to incentivize and reward investors and the communities.
An Initial NFT Offering, or “INO”, is a new cryptocurrency crowdfunding innovation — based on the concept of Initial Coin Offering (ICO) — that involves offering a set of limited edition NFTs for sale via the Only1 INO Launchpad. As the NFT market matures, Initial NFT Offering rises as a solution to incentivize and reward investors and the communities.
Companies and individuals are using initial coin offerings (ICOs) as a way to raise capital or participate in investment opportunities. ICOs typically involve the issuance of crypto tokens, which the operators create and distribute using the blockchain technology.
From the genius of ICO, there comes the rise of other crypto fundraising mechanisms: STO (security token offering), IEO (Initial Exchange Offering) and IDO (Initial DEX Offering).
Initial NFT offering involves offering a set of first generation NFTs, or genesis NFTs, for a certain period of time. Therefore, Initial NFT Offering empowers participating investors to benefit from the inherent supply scarcity of the NFTs.
Meanwhile, Initial NFT Offering solves many of the challenges for artists and creators selling art NFTs and collectibles. Anyone can issue limited edition NFTs through decentralized platforms with the advantages of instant liquidity and cheaper listing cost.
Through Initial NFT Offerings, anyone can issue limited edition NFTs through our decentralized platform. Initial NFT Offerings enable everyone — big and small ideas — to be recognized by a wider range of audience. Many creators, still in the process of creating their masterpiece, need new funding to finance their projects. With initial NFT offerings, any artist can raise the needed funds before creating.
Only1 allow the community to vote for promising projects to be listed on the platform and reward the winners. The exposure encourages potential investors to look into the NFT projects. Additionally, the platform would grant active users and token holders access to exclusive NFT project launches. The mechanism enables creators to build an early community — active traders and experienced investors — around the NFT project. This represents a unique opportunity to lower the risk of entry for creating resource-intensive NFT projects.
Running on Solana, Initial NFT Offerings minimizes the transaction fees creators and investors face.
Initial NFT Offering empowers participating investors to benefit from the inherent supply scarcity of the NFTs. Only1 has native social platform capabilities to increase visibility to certain creators, and hence increasing the value of their NFTs.
Before NFTs can benefit from widespread adoption for artists and creators, there are a number of questions and issues that must be addressed.
Most NFTs are part of the Ethereum blockchain. It’s worth noting that other blockchains, like the Binance Smart Chain (BSC), Solana, Flow, Tron, are implementing their own versions of NFTs.
When choosing the blockchain to build on for NFT projects, scalability is one of the major issues to consider. With the cost of gas fees, some may find the Ethereum blockchain difficult to cater mainstream creators. Minting NFTs on the Ethereum blockchain can be costly and slow as well. Also, the transaction fees with buying an NFT may discourage supporters and investors.
The perfect choice for NFT projects would be on blockchains which allows the network to optimize for speed. It should enable higher process efficiency and higher security.
Moving forward, another important advantage for the right blockchain for NFTs would be the interoperability. Simply put, can an NFT move from one chain to another with ease? For now, Ethereum-based NFTs are constricted to the Ethereum blockchain. Therefore, interoperability development would be a key focus in the NFT industry, with blockchains supporting cross-chain migration of NFTs. This will boost a higher level of intimate user social engagement, and a vibrant, organic community for NFT projects.
Visit https://only1.app/nft-launchpad to learn more about our Initial NFT offering