Initial NFT Offering (INO) is a new crypto fundraising mechanism based on the same conceptual principles, which involves offering a limited number of NFTs for sale. Companies and individuals have used ICOs as a way to raise capital or participate in investment opportunities since 2013.
From the success of ICO, other crypto fundraising mechanisms emerged, such as STO (Security Token Offering), IEO, and IDO. NFTs are experiencing massive adoption, with many musicians, artists, athletes, commercial brands, and crypto enthusiasts joining the NFT market. The initial NFT Offering has risen in popularity along with the NFT hysteria, providing benefits to both content creators and investors.
INO involves offering a number of NFTs on a launch platform or marketplace for sale to public investors.
Benefits of Initial NFT Offering (INO)?
Easy to Launch
The barrier to entry for Initial NFT Offering is lower compared to launching a fungible token. This allows projects with big and small ideas to be recognized by a wider audience. They can raise the necessary funds with more affordable listing fees and easier access to instant liquidity before the project is ready.
Community Development
NFTs encourage a strong sense of community because owning one of the rare NFTs from a collection brings the holder into a close-knit circle. Having a limited edition NFT makes it easier to recognize each holder compared to having a small percentage of the fungible token supply.
Holder Becomes Project Advocate
Each NFT can only be owned by one wallet address. NFTs have built-in ownership verification that serves as proof of ownership. Each holder becomes an advocate for the project as most consider ownership of an NFT as a 'bragging' right, especially when used as a profile picture (PFP). That is the information regarding the Initial NFT Offering (INO). What do we think we're going to talk about?
Read More:
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.