NFTs are a trend that has taken over the world and, in turn, has created many new industries, revolutionized others, and has developed many new markets.
Initially, crypto enthusiasts bought NFTs, then celebrities like Eminem and Snoop Dogg joined on the bandwagon. They were followed by traders who enjoyed more conventional assets like NFTs and artists who wanted to fund their careers and express themselves.
The demographics that NFTs encompass are not only massive but are only increasing. Take the Women of Women NFT collection, which seeks to provide financial and educational opportunities for dispriviliged women who don’t have the chance to invest in crypto and enter NFT marketplaces.
Many altruistic organizations and NFT companies realize the need to provide resources and create secure and convenient systems where people can interact, build their careers and freely create and trade NFTs.
DeSpace has entered the market with bold promises of offering more than conventional marketplaces. Many concepts which are parts of the Web3 world, such as NFT minting, Yield Farming, and NFT cards, are all ones that DeSpace has promised to be innovative and make even more effective.
They have also promised to include multi-layer tokens and combine DAOs into the platform to create one intertwined crypto and NFT ecosystem. The system itself is designed around encouraging participation and valuing NFT cards.
You can get interest through yield farming, which increases depending on how many non-fungible token cards you have.
The platform itself answers the massive rise in consumer demand for safe and effective NFT marketplaces in India. The enormous economy has thousands of artists who, amidst the covid pandemic and economic turmoil, provide a living for themselves or wish to gather valuable experience and develop their careers.
Micky Irons, the Marketing Officer for Despace Protocol, claims that “NFT are digital assets representing creative objects ranging from art to music. When we say non-fungible, we refer to something unique and cannot be replaced. For example, any digital art can be downloaded, circulated, and replicated with very high fidelity.”
Micky and his team have not only launched an NFT marketplace that seeks to protect the interests of artists, but they also want to educate the public on what NFTs can offer.
According to him, traditional art had its shortcomings, but NFTs “identifies the owner of digital art and facilitates easy transfer. And this is the game-changer. A copy of some digital art sitting in your hard drive does not make you the owner, ownership is clearly defined using an NFT.”
The platform has also made promises to collaborate with musicians and Bollywood stars to encourage the creation of unique NFT collections and give new sources of revenue for Indian artists.
