Despite developing at an alarming speed, the NFT world still has a long way to go before it represents a perfectly functioning ecosystem for the mass market. Currently standing in its way are things like crippling gas prices which deter new and small-time investors. Slow transaction speeds which instill little confidence in the technology for new users. Cross-chain compatibility issues stopping people from being able to easily move their assets between blockchains, as well as poor UX and mediocre fiat on ramps.
Now however, myNFT has arrived, a multi-chain NFT platform that aims to put all of these niggling inconveniences to bed through a sleek, highly intuitive marketplace designed to outshine its competitors in every single category. It will offer low platform fees (2%) and low-cost eco-friendly layer 2 transactions, all the way to an innovative ‘bid to earn’ auction feature designed to rock the NFT world to the core.
The resulting package, taking an innovative no-compromise approach where only the absolute best cuts the mustard, bringing with it a game-changing approach to how we interact with the world of NFTs.
Under the Hood
myNFT is the latest innovation to come out of London-based tech firm, Perpetual Altruism Ltd. A next-generation Web3 platform opening up the incredible world of NFTs to a much broader audience and providing the flexibility for anyone alive to join in the NFT revolution.
Built on the Moonbeam parachain, part of the Polkadot architecture, the system offers unparalleled compatibility as well as all of the transactional benefits of a layer 2 chain without compromising on security.
From the off, the myNFT marketplace will work with a range of EVM (Ethereum Virtual Machine) networks such as Binance Smart Chain and Polygon and will overtime be consistently integrating new blockchain networks.
In addition to this excellent multi-chain wizardry, myNFT also offers a wide range of payment options. Those using the platform can transact in a wide range of cryptocurrencies, as well as use a host of fiat-based options featuring US Dollars, British Pounds, Euros and many more.
Revolutionary Bid-to-Earn Mechanics
Through its sister organization, GBM, myNFT aims to introduce an innovative bid-to-earn buying mechanic, meaning that when a collector bids on an item, they will face one of two favourable outcomes. Either, they win the bid and take home the prize, or they lose and make a monetary return.
Either way, it’s a win-win for all involved!
Securing the Future with Investment
To add a huge degree of weight to the myNFT project, the team recently raised an impressive $7 million in Series A funding. With investment powerhouse, Scytale Ventures leading the way, and SevenX Ventures, Future Perfect Ventures, Signum Growth Investments and more adding support.
This fine sum of funds is further backed up by a Moonbeam Foundation grant, awarded for services to Web3 infrastructure, both of which will help expand the myNFT offering and fine tune the impressive platform. After launch their plan is to release a next-generation minting tool along with many other features that the NFT industry has yet to see.
A Well Oiled Machine
At the helm of myNFT sees a trio of fully fledged, totally doxxed NFT veterans, fresh off the back of steering the good ship Cryptograph to NFT glory. Now, expanding its portfolio of products into the NFT marketplace sector, Perpetual Altruism Ltd could become nigh on unstoppable.
If all of that does not have your non-fungible taste buds salivating, interested parties can sign up now for early access, while additionally entering an excellent NFT giveaway with a chance to win $10k worth of tasty NFT prizes.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Decentralised human, Explorer, Adventurer.