Have you ever imagined a marketplace where you can mint an NFT and sell it? Of course, there are plenty out there. But what if I told you that you could attach a biometric identifier to your NFTs? What if you could mint an NFT that expresses your ideas in words? What if you could add your voice (a biometric identifier) to explain your NFTs? What if you could mint NFTs holding cultural, motivational, or intellectual value? What if someone could support you, not just by “liking” your idea but by putting financial value behind their support? Now, it's possible. Introducing Phrase.Trade.
Revolutionizing the NFT World
Phrase.Trade is the first of its kind, revolutionizing the world of NFTs. Now, NFTs will hold more value than simply being images, music, or poems. They can bring all these elements together. Presenting Phrase.Trade: a decentralized marketplace for minting, trading, and transferring a new generation of NFTs. Phrase.Trade is a game-changer, enabling NFTs to validate the appreciation of an idea or concept and allowing the anonymous introduction of ideas in the form of NFTs.
Unique Features of Phrase.Trade
On Phrase.Trade, anyone can mint NFTs with textual value. You can also attach an image in the background to set the tone and match the vibes of your text. With over 1700 fonts available, you can customize your text's appearance by resizing and aligning it to suit your vision. To mint an NFT, you need to pass the “unique phrase test,” ensuring that your NFT is one-of-a-kind. This makes Phrase.Trade highly reliable in terms of idea or concept duplication. While image duplication in the background is allowed for now, the text remains unique.
The Speculation Model
Once an NFT is minted, it can be speculated upon. Speculators can buy and sell shares, with prices varying based on a bonding curve. This means the more shares in supply, the higher the audience's appreciation, and the higher the price. The first share is always free and transferred to the NFT creator's account. All shares are in 18 decimals, making them useful as prices rise.
During speculation (buying or selling shares), there are five main fees associated:
Owner Fees: Reserved for the owner of the speculated NFT and claimable at any time.
Creator Fees: Reserved for the NFT creator and claimable at any time. Creators and owners are the same until ownership is transferred.
Reflection Fees (Dividends): Shareholders of the speculated NFT receive dividends from further buy/sell transactions on the same NFT. These can be claimed anytime or automatically when shares are sold.
Reward Fees: Collected and used by the protocol to reward shareholders of high-performing NFTs.
Protocol Fees: Taken by the protocol to fund its growth and development.
All fees are calculated proportionally to the traded share's value and are capped at 10% of the total value.
There is a flat NFT minting fee applied to all newly minted NFTs, which is currently set at 0. This fee is taken by the protocol as profit.
Developing the Marketplace
Phrase.Trade is also developing a marketplace for buying and selling the ownership of uniquely minted NFTs. Before this feature is launched, we will release a document detailing how third parties can create platforms to handle ownership transfers without involving Phrase.Trade. This will include guidelines on developing a UI engine to maintain the charisma of uniquely minted NFTs during presentation.
Join the Revolution
Phrase.Trade is not just another NFT marketplace. It’s a revolution. It’s about giving your ideas a voice, adding value to your creativity, and creating a community where support is shown through action. Get ready to mint, trade, and transfer NFTs like never before. Welcome to the future. Welcome to Phrase.Trade.