Introducing OpeNFT : The first community-owned Crypto Art aggregator.
Who are we?
A group of NFT artists, enthusiasts, and developers who realized there was a recurring complaint from community members about existing art platforms. The issues went unaddressed so we took it in our own hands to build a solution.
Founder: @NFTmachine on twitter. Verified repeat top seller on Rarible.
What problem are we solving?
Existing art platforms for minting and sharing work face a number of issues, but the most pressing we feel is their inability to scale with demand during NFT booms. They have a manual curation process where artists are required to apply to the platform, have their application MANUALLY REVIEWED, and maybe they get a response in a few months.
As an artist who actually went through this process it was annoying to say the least, I was a top seller on a platform multiple weeks in a row without being verified. Because I wasn’t verified I didn’t show up in the websites browse category for newcomers to stumble across my work; even though I was every bit as successful as the verified top sellers. This didn’t sit right with me at the time and it still doesn’t.
My response was OpeNFT, a platform where curation of NFTs is run by the community; with no applications, red tape, or backroom deals. We don’t verify who should be on the front page because our community will do it for us, through proper incentives and tokenomics.
Announcing ONFT: Governance token of OpeNFT.
Overview of $ONFT purpose and functionality.
The token will allow us to outsource art curation to the community and allow verifiably authentic users to vote content to the top each day, instead of manually choosing which artists to promote in a gatekeeping fashion.
Any user with 1.0 ONFT staked will be able to vote in our daily competitions, the results of which will be used to build out a custom curation algorithm. Voting on the daily competition isn’t just something we expect people to do out of the kindness of their heart, on the contrary. 35% of the tokens supply is reserved for rewarding users who vote daily and engage with the platform, and we will leave a perpetual inflation that wont drop below 1% in order to allow for constant rewarding of users.
Any ONFT in excess of 1.0 can be staked specifically to an artist on the platform that the user wants to support. This increases the artists rankings in our custom algorithm, making it more likely others will see their work; and users are rewarded for staking early on an artist before they blow up in popularity.
A small inflation provided directly to users of the platform ensures that market share will be transferred to active users and away from passive holders.
Originally a presale wasn’t in the plans, however as a team we decided that securing funding to build the best possible product should come first; and before this I was funding this project out of my own pocket. Presale will come first, then we launch the website. The token won’t be launched for a few weeks as the website gains users and network effects; once platform is determined to be stable and we have a network of users we will announce the token launch.
Total Supply at launch will be 250,000. With 15% allocated to presale that gives us 37,500. The team feels confident in capping our presale at ~500k of funds raised; and feel confident we can launch a competitive product with that capital.
This gives us $500,000 / 37,500 ONFT for ~$13.33 presale, or .0074 ETH at $1800 ETH.
37,500 ONFT * .0074 ETH = 277.5 ETH marketcap (500k at today’s price)
If for some reason we don’t have enough demand to meet the $500k target, presale investors will get a price better than .0074 ETH / ONFT
min = 15 ONFT, max = Discretion