The non-fungible token (NFT) is the only crypto token that is used to represent digital assets. NFTs can be purchased and sold, just like any other tangible asset. The development history is much longer. The first attempt at NFT was in the initial stage of encryption technology.
Colored coins from 2012 to 2013 were the first nonfungible tokens that existed, which might be as small as one satoshi, the smallest unit of Bitcoin. These colored coins are used to represent multiple assets with multiple use cases.
With the inception of cypherpunks and encrypted cats from 2017 to 2018, the NFT market has flourished. With the constant iteration of encryption technology, it has become easier to join the NFT ecosystem. At that time, the era of the NFT explosion is also ushered in.
During this time, the encryption technology team led by the Venus Foundation started to study the NFT field in depth, and the Venus project was officially established. Venus utilizes NFT as the main track for deep cultivation, facing digital storage, the metaverse, games, and other fields, and has made innovative alterations to the current digital creation and transaction processes, optimized the existing interaction logic, and reduced development barriers.
Enhance the efficiency of integrated data and build an integrated and extensive NFT ecological platform covering the full entertainment sector in the digital age.
In the future, Venus will, under the promotion of Venus Dao, cooperate with many real sectors with a real value foundation to develop a truly comprehensive NFT platform with a rich variety to help global NFT enthusiasts, enterprises, and organizations realize their Dreams and Values.
Venus Redefines NFT
In this day and age, digital products and commodities are continuously produced and replicated. Here, the role of the NFT is to serve as a “certificate of ownership” for such digital products to demonstrate their originality.
In the case of the “Mona Lisa”, we can take various pictures or purchase prints, but just one original. Based on the same principle, NFTs are digital tokens that can prove the validity of non-tangible goods despite their continuous copying and replication.
With the increase in popularity of NFTs, the shortcomings of traditional NFTs are becoming majorly apparent, such as the uncertainty caused by unmanned subsidies after the past sky-high sale; some NFTs are set up, and it is challenging for users to grasp the real ownership; the use of outdated or inefficient protocols.
The NFT asset theft problem is caused by it frequently happening, and it is time to need a standard manufacturing and sales infrastructure to regulate the healthy development of the sector. Thus, Venus has formulated the standards that have to be followed to issue NFTs within the platform to protect the integral rights and interests of every user. Issuing NFTs on the Venus platform has to follow these standards:
Ownership
Users fully own the asset ownership of NFT, and they can operate the NFT they own at will, including an auction, transaction, transfer, and collection.
Multifunction
NFT entirely follows the ERC-721 issuance standard. All the applications that support the Solidit technology infrastructure can call on the standardized functions of NFT to realize cross-ecological reuse and multi-functional applications of NFT.
Fluidity
Based on years of encryption technology research, nonfungible token not only endows NFT with high value but also empowers NFT with ecological liquidity, so that NFT has bigger liquidity and activates the possible value of NFT.
Uniqueness
Nonfungible tokens are written into the ETH chain by smart contracts, and nobody can modify or edit other users’ NFTs unless the NFT holders edit them themselves.
Venus Integrated Platform Business Layout
IP Trusted Digitalization
NFTs are born with the distinct attributes of timestamps and distributed storage space, and cannot be tampered with. Venus presents NFTs in a digital and trusted way of IP, which enhances the value rights of NFTs and forms a “brand circle” with nonfungible tokens as the core. Hence, the NFT can be widely used in games, music, and many other fields. It can also enable the users to build their brand image through NFT.
One-Stop NFT Service
Venus offers a wide range of access strategies and one-stop service facilities for the circulation of nonfungible Tokens, enabling NFTs to be more widely disseminated and promoted, and invisibly enhancing their value of NFTs.
Both developers and users can use Venus to offer The NFT network service facilities to reduce the NFT development threshold, operation threshold, and access threshold.
Realistic Value NFT
Venus will empower traditional real value objects with NFT, and after credibly remodeling these limited game assets, trend games, and artworks in the encrypted digital world, release the possibility of these value objects themselves, and offer every A value target offers the corresponding trusted visual digital certificate.
Venus Market Direction
The nonfungible token issued by Venus is a distinct digital asset. Compared with alternative assets like Token, NFT has established an entire NFT value system within a considerable elastic space, which is majorly applicable to various application fields. These fields include music collection, intellectual property (IP), certificate proof, financial bills, game assets, and tax management.
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