ENVISION NFT THROUGH ENEVTI

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15 Dec 2022
25



Have you ever wondered about the possibilities that lie wait in the NFT space?
If you could redeem NFTs at your convenience, own an NFT worth a sturdy value, get an authentic relationship with your favorite artiste or even create NFTs with meaningful impact on creator economy.

Well I am here to tell you that NOW! The above is possible with enevti.com
A group of crypto enthusiasts, and well known tech leader with a lot experience in building blockchain application came together to create this project Enevti.
Enevti is a decentralized social media NFT platform dedicated to helping fans have a more unique relationship/bond with their favorite influencers. The project is set to give NFT a real life utility to a larger audience, and the implementation of novel ideas is how Enevti plans to tackle the existing issues on the NFT space.

Enevti is built using Lisk SDK with 10 seconds block time, a 103 delegate seats, an ENVT token, and it belongs to the DPoS blockchain.

These impeccable novel ideas includes
Redeemable NFT: is a smart asset implementation where NFT can have more intrinsic value so that the owner can buy and redeem the NFT through unique social utility.

Self-Sustaining Governance:
This simply means that, it's a decentralized autonomous organization (DAO) centred on creators within the ecosystem, where fans can vote on treasury proposals based on their stake-power

CreaFi
This is a fair and open financial instrument between fans and content creators. CreaFi is a combination of Creator Economy, DeFi, and NFT. CreaFi is built to credit the creator more control over their monetization strategy in the ecosystem. Each creator needs at least 1000 ENVT from fans to be able to create a redeemable NFT.
ENVT utility token: The ENVT is the native token intended to incentive stakeholders in the Enevti ecosystem.

About the Redeemable NFT
Fungible items - items that can be exchanged.
Non-Fungible items - items that cannot be exchanged.

Non-Fungible Token (NFT) in its simplest understandable term is a non replaceable/one of a kind token which holds valuable informations by creating a unique digital signature that defines the ownership of one's asset, and can be bought and sold for real money or any other asset.

On the Enevti ecosystem, once the threshold has been passed, creayors can now easily create Redeemable NFT and provide exclusive experience to their fans. Another perk to being a creator is they can also become delegates, and safeguard the protocol.
A total of 103 delegates will be able to mine, and get block rewards to distribute to their stakers;
101 with the higheststaking power •
2 random delegates based on consensus calculation. •

Delegates also need to play an essential role in promoting and curating the best NFT, because delegates originally came from creators, delegates
While creating NFTs, creators can decide the properties of the particular NFT such as utility type, redeem rules, and price. These properties can be extended by the creators irrespective that Enevti already provides, and they can do this by creating third party apps.

How to get the NFT
These NFTs can be gotten from the creator directly or the marketplace by fans. Also NFTs can be collected according to redeem rules, traded through the marketplace, and redeemed to experience the full utility.
Likewise any holder who stakes into the creator pool gets rewarded based on the number of tokens staked. Rewards vary from NFT sales royalties, and block rewards.

Properties of NFT

  1. Verifiability: its meta data can be publicly verified
  2. Usability: it's user friendly and has an up-to-date ownership information
  3. Availability: it's always available to sell and buy
  4. Atomicity: trading can be completed in an, meaning (Atomic, Consistent, Isolated and Durable )
  5. Tamper Resistance: manipulation of metadata, and its trading record is impossible once a transaction has been confirmed, and it's due to the fact that they are persistently stored.
  6. Transparent Execution: The activities of NFTs are publicly accessible (i.e minting, selling and purchasing).


REFERENCE
https://link.medium.com/GWGoKj3iKvb

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