The techniques of fundraising for different projects have changed a lot now. Earlier, the Initial Public Offering (IPO) was the primary method. The entry of cryptocurrencies in 2009 in the form of Bitcoin (BTC) promoted the benefits of the Initial Coin Offerings (ICOs) and Initial Exchange Offerings (IEOs). Now, the boom of Non-Fungible Tokens (NFTs) has led to the emergence of Initial NFT Offering (INO).
Entrepreneurs can take advantage of the favourable market for crypto collectibles now. There are a whopping 705,691 unique digital collectibles according to CoinRanking.com. The daily trading volume of NFTs is a humongous $2.66 billion as per CoinMarketCap.com.
Entrepreneurs can implement their fundraising campaign with ease by reaching out to AppDupe for conducting a hassle-free Initial NFT Offering (INO). Our experienced developers and marketing specialists will ensure that the targets of the hard cap (maximum funds) and the soft cap (minimum funds) are achieved successfully.
How does an Initial NFT Offering (INO) function?
The ambitious entrepreneur will have to announce the details of the crowdsale event by sharing information like the names, prices, and total supply of the limited-edition NFTs. Prospective investors will make their bids to purchase the valuable cryptographic tokens. The entrepreneur can categorize the crypto collectibles into different tiers based on their rarity. All the digital collectibles are sold to interested investors within a certain period.
How can the concept of staking become a game-changer in the implementation of INOs?
The technique of Staking was born out of the launch of different Decentralized Finance (DeFi) platforms. The traders have to lock some funds in a crypto wallet and take care of the business operations of the Proof of Stake (PoS) consensus mechanism on the blockchain network.
They get a certain percentage of rewards based on factors like the total assets staked by the DeFi platform, the staking duration, the inflation rate, and contribution or proportion in terms of the assets staked. The leading crypto exchanges like Binance, Coinbase, Kraken, KuCoin, and Poloniex also offer various staking services.
Investors who put their money to purchase crypto collectibles from an INO can stake them on any DeFi platform, burn it, release the native token, and multiply their returns. The value of the NFTs will increase after a period, which will prevent the investors from selling it instantly in the market.
The digital collectibles can be in different forms like artwork, games, fashion accessories, live documentaries, memes, music, photographs, tweets, and videos.
What was the first Initial Staking NFT Offering (ISNO) in the world?
Torum, a DeFi and NFT based social media platform conducted the world’s first ISNO successfully. The platform sold 363 limited-edition NFTs divided into 5 categories (Concordia, Crescentia, Exorsus, Genesis, and Maturitas) on May 11, 2021.
The investors burnt the crypto collectibles and earned the Xentimentum (XTM) crypto token, which acts as the backbone for Torum. Their returns multiplied in the range of 1.05 to 1.25 times.
The buyers earned a total of 17,50,000 XTM from the Torum Finance network after all the 363 unique Non-Fungible Tokens (NFTs) were sold in just 20 minutes. The investors will own virtual artwork issued on the Binance Smart Chain (BSC) blockchain network.
Beat your competitors by beginning Initial NFT Offering development
Connect on WhatsApp What is the latest news related to the phenomenon of Initial NFT Offerings (INOs)?
- TestaMint, an environment-friendly NFT collective for artists – launched its INO in the market on May 12, 2021, on the EOS blockchain network. Numerous NFTS like Future Jane, Kelly “RISK” Graval, and Billy Morrison guitarist.
The investors get benefits like fast processing of peer-to-peer transactions, integration with advanced technologies like Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR), and live tracking of the performance of their crypto token.
- Allium Finance, an NFT hosting platform – will sell two crypto collectibles made by artists and designers in the form of trading cards to investors. It has a deflationary token created on the Binance Smart Chain (BSC) blockchain network.
The two digital collectibles Altum and Regno will help investors get access to a natural world (full of plants and creatures) and a spectacular space station. The buyers can purchase the NFTs from the PancakeSwap decentralized exchange (DEX). The crypto collectibles can be staked by the investors to earn $ALM (the native token of ALLIUM).
- Several Indian startups are raising funds through INOs – for Covid-19 relief. The digital collectibles will be sold through the OpenSea NFT marketplace. 22 digital artwork will be offered for sale via the Fable project.
The money will be transferred to the Crypto Relief fund and will be used to purchase oxygen beds and cylinders for numerous Covid-19 affected patients.
What are the high-quality services offered by AppDupe for Initial NFT Offering (INO) Development?
- Creation of NFTs – based on ERC-721 and ERC-1155 token standards issued by the Ethereum blockchain network.
- Development of economical white-label clone solutions – of famous NFT marketplaces like Axie Infinity, CryptoKitties, CryptoPunks, Decentraland, GhostMarket, Gods Unchained, Foundation, Meebits, Momint, NBA Top Shot, Nifty Gateway, OpenSea, Polka City, Rarible, Solible, Sorare, SuperRare, The Sandbox, and Xcad Network.
- Undertaking spot KYC/AML verification – of all the investors who are taking part in the Initial NFT Offering (INO) to ensure a high level of safety and transparency.
- Promoting the advantages of the INO – by conducting airdrops and bounty programs, implementing email marketing campaigns, participating in discussions on online crypto forums (Quora and Reddit), and publishing content on different social media platforms.
- Integration of multiple digital wallets such as – Brave Wallet, Coinbase Wallet, Dapper, Fortmatic, MetaMask, MyEtherWallet, Portis, Torus, Trust wallet, and WalletConnect for investors to safeguard their NFTs.
- Other services like – establishing an INO fundraising dashboard, landing page optimization, preparation of lightpapers and whitepapers, and crypto token price pumping are also provided for aspiring entrepreneurs.
Why choose AppDupe’s services for INO development?
We have a well-versed team of blockchain developers, cryptocurrency developers, smart contract creators, UI/UX designers, and marketing experts to make your Initial NFT Offering (INO) fundraising campaign a resounding success.
Real-time updates will be shared by our crowdfunding managers to the entrepreneurs. We also offer 24×7 technical support services in numerous languages to investors participating in the INO.
Wrapping Up
Initial NFT Offerings are a new revolution in the crypto era. It will gain more momentum in the future since the market capitalization, and the trading volume of crypto collectibles are increasing every day. With the launch of new NFT marketplaces and more projects, a huge number of INOs will emerge in the cryptocurrency industry.
If some NFTs are sold for a very high price, the entrepreneurs can offer the benefits of fractional ownership to attract more retail investors. INOs will also help to easily monetize the valuable work of artists, content creators, fashion designers, and game developers.
Hence, become an innovative entrepreneur by commencing Initial NFT Offering (INO) development with AppDupe to transform the world of fundraising forever.
Strengthen your business prospects through INO Development
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