Quick Summary
- SuperFarm is a cross-chain DeFi protocol built to facilitate the launching of NFTs without programming skills. This platform aims to make NFTs more accessible.
- SuperFarm is a comprehensive NFT marketplace that allows its users create their own NFTs, farm coins for NFTs, create ERC-20 tokens and bind NFTs to video game items.
Non-fungible tokens (NFTs) are viewed as the next big thing in the crypto universe, as their massive adoption is impacting almost every industry in the world (sports, gaming, art, etc.). Major brands, companies, and celebrities don’t hesitate and participate in this obvious trend. For example, UFC will have its own NFTs through crypto.com platform. SuperFarm has a solution for those interested in the NFT sphere.
What’s SuperFarm?
SuperFarm is a cross-chain decentralized finance (DeFi) protocol built to facilitate the launching of NFTs without the need for programming. SuperFarm wants to make NFTs more accessible and easier. Its marketplace and an innovative set of tools allow any project to deploy a farm with its own rules. SuperFarm is designed to bring utility to any token by turning it into an NFT farm with no coding required.
Thanks to a set of visual tools, users can deploy a new farm with customizable rules and fine-tuned incentives. The farms can easily reward liquidity providers, stimulate long-term stakes, or give access to a project’s services through an NFT with utilities. SuperFarm is essentially a comprehensive NFT marketplace that allows its users to create their own NFTs, farm coins for NFTs, create ERC-20 tokens, and bind NFTs to video game items.
How SuperFarm works
SuperFarm gives creators and projects a fair way to connect with the audience while earning an additional potential revenue stream by dropping their own line of NFTs on a custom marketplace. It’s a similar concept of what Patreon did for YouTubers. End-users will also be able to stake project tokens from a range of cross-chain platforms to “farm” NFTs.
At first, the platform wants to focus on the gaming industry by allowing game developers to easily launch NFTs that have utility within their video games. These may include limited edition in-game items, unique experiences, pieces of gaming memorabilia, etc.
SuperFarm will also act as a link between crypto ecosystems and the gaming industry. It aims to support collectible tokens for use in AAA games. With NFTs from SuperFarm, users gain access to the video game experience and already mentioned limited edition items. Members can use and exchange their assets.
Token Information (SUPER)
The SUPER token is a major component of the SuperFarm product suite. SUPER token holders show support by governing the SuperFarm network by voting on governance proposals that will help shape how the platform develops. If users want to create their own farm, they need to stake100,000 SUPER — ensuring only high-quality farms are launched.
SuperFarm had the final round of its token sale on Polkastarter in February 2021, and the SUPER token is now trading on several popular cryptocurrency platforms, such as Binance, Kucoin, Pancakeswap, and Uniswap with big trading volume every day. Currently, it has a market cap of around $480 million and the token is down from its maximum of $4.5 at $1.35.
Conclusion
The use cases for NFTs are still being explored nowadays, but they are mostly used to represent digital collectibles or in-game assets. SuperFarm may help in this matter and with time, it will show its utility to the world. When it comes to the potential of the coin, we think it could at least test the all-time-high level of $4,5 in the upcoming months.
more to read
5 Biggest Upcoming Metaverse Projects
crypto. com Collaborates with UFC to Debut NFTs
NFT World News Social Media: Twitter, Instagram, Telegram, Tiktok, Youtube, Facebook
sources: superfarm, coinmarketcap
author: Rene Remsik
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
