Hoard’s NFT Marketplace Brings More Versatility to Non-fungible Tokens
Even though the NFT industry is only now receiving a lot of attention, several of the projects in this space date back several years. For example, hard NFT Exchange was founded in 2018, long before artists like Beeple sold non-fungible tokens for over $ 65 million at auction. Being a forerunner in the NFT space can provide a competitive advantage, and the DAO model encompassing this ecosystem has received positive attention.
Enter the era of scarcity
It’s no surprise to see non-fungible tokens gaining so much traction lately. Since the inception of cryptocurrencies, society has slowly grown accustomed to the scarcity and scarcity of assets. For those who are willing to take investment risks, cryptocurrencies and NFTs can be viable options. Many see NFTs as a primarily investment vehicle, although other subgenres exist within this industry.
However, non-fungible tokens are a great way to showcase the potential of true digital asset ownership. Additionally, this concept can be applied to many use cases, ranging from video game assets to digital content and even licensing agreements. Additionally, the full potential of non-fungible tokens has yet to be unlocked. Now that holders can divide and own some of the high value items with NFT technology, there are many great options to explore.
What is Hoard NFT Exchange?
An aspect parameter NFT Treasure Exchange apart from its competition is the initial introduction of True Ownership. The purpose of blockchain-based assets is to empower the user and the holder in all ways. DFTs should be no exception to this rule. Additionally, the team started implementing Etheruem and Plasma as initially supported chains to make trading in non-fungible tokens easier and more accessible.
Hoard NFT Exchange has come a very long way since 2018. The platform has continued to grow, evolve and expand. The launch of your Software Development Kit (SDK) makes it easier for developers to integrate Hoard functionality into video games. Game developers will not need any special knowledge of blockchain to harness the potential of this SDK.
Basically, Hoard NFT Exchange is designed for gaming purposes. Giving users the ability to trade value between games, community, and developers will create a different era of video games.
Bringing more versatility and utility to NFTs is the next main focus. Hoard plans to do this by creating a series of smart apps that can improve the overall appeal of NFTs. Again, the integration of Plasma plays a crucial role as it is an ecosystem with many users. More users means more growth for the Hoard NFT exchange and its applications, leading to new innovative use cases offered by community members through the DAO governance system.
The treasure token
Similar to other blockchain projects, Hoard has a native token called the Hoard Token (HRD). The token adheres to the ERC20 standard and resides on the Ethereum blockchain. Hoard Token is useful for paying for item purchases within the Hoard ecosystem. Additionally, the token can be used by developers to pay for service charges. The HRD tokenomics are as follows:
- Token name: Trésor (HRD)
- Type: ERC20 utility token
- Total supply: 1 billion
- Utility objectives: coverage of service charges, support for governance tokens via DAO
- Network: Ethereum
Of the billion HRD, 48% will be spread over time. The team holds 20% of the offer, of which 25% goes into the project pool. The remaining 7% goes to community members, giving them a vote in the future development and evolution of the Hoard ecosystem.
The Hoard Marketplace is making a difference
Building on the existing NFT infrastructure provided by Hoard, the team created a native marketplace. It was part of their roadmap for 2021, and the marketplace is live on the Ethereum mainnet. It offers many features including the use of NFT as collateral for loans. Even flash loans, which were introduced recently, support NFTs, creating an interesting approach to decentralized finance.
The marketplace also makes it easier for users to manage their digital assets and NFTs. As non-fungible tokens now offer more functionality and versatility, users can explore options for trading, lending, and leasing. The functionality covers all types of assets, whether it’s gaming items, digital art, or even real estate.
The LOAN aspect of Hoard Marketplace is intriguing, as it is a peer-to-peer lending solution. When a user offers NFTs as collateral for a loan, another user will review it and extend the loan if the terms are favorable. If the borrower cannot repay the loan – or refuses to do so – they will lose access to their DFTs. Access to the lending feature requires possession of HRD tokens, but token holders will also receive a discount on the platform fees.
Staking support creates more opportunities
As an additional feature for users, Hoard Marketplace natively supports token staking. Specifically, users can earn rewards twice by providing liquidity to the ETH / HRD trading pair on Uniswap. In doing so, users receive an LP Token, which they can wager on Hoard Market to earn HRD rewards and Uniswap rewards.
Actors also pay fees through tokens with high liquidity, including stablecoins. As users wager longer on Hoard Marketplace, they will earn better rewards. Claiming the rewards is possible through the MetaMask wallet.
What happens next?
In line with the Hoard Exchange roadmap, the team is currently developing more features for the market. Users will be able to build and trade at some point in Q3 2021, and more information will be shared through Hoard’s social channels. Later this year, the team will bring the “Rent” feature to the market. In addition, the community will obtain governance rights in the fourth quarter of 2021.