The world of non-fungible tokens, or NFTs, has experienced a rebirth in the last few months, with a record trading volume of $2 billion in February. This growth has been fueled by professional traders and changes in trading platform policies following the launch of the Blur aggregator. One new player in this space is the Love Power Marketplace, which is working to create a fundamentally different environment for trading NFTs. In this article, we will take a closer look at the Love Power Marketplace, how it works, and why it is poised to become a unicorn shortly.
The idea for Love Power was born in 2022, a year of crisis for the NFT market. Both traders and creators were experiencing problems with the market, including confusion around royalty payments and commissions to creators, a lack of copyright protection for artists, and difficulties accessing trading platforms. The Love Power team decided to tackle these issues by creating a new decentralized ecosystem that includes LovePowerCoin, LovePower NFT, and Love Power Marketplace.
One of the key features of the Love Power ecosystem is its support for creators. The team holds special contests and events for NFT creators, with rewards that can be as high as 1.5 ETH. They also use fixed commissions and royalties to ensure that both traders and creators benefit from transactions. In addition, part of the profits from the sale of exclusive NFTs will be used to provide a collection of non-fungible tokens and for charity.
As Snezhana Kolesnik, the Project Manager of the Love Power Ecosystem, explains, the team’s goal is not only to create better conditions for trading, but also to actively support talented artists, designers, musicians, and other creators. This is reflected in the name of the ecosystem, which was chosen to symbolize the team’s intention to support the NFT industry by donating part of the profits to the artists themselves.
Love Power has already launched its native Love Power Coin token, which will serve as the unit of account on the Love Power Marketplace. The team has also collaborated with famous European artists and designers to create their NFT collection, which is already traded on leading marketplaces such as Rarible and OpenSea. In the first half of 2023, Love Power Marketplace will be launched, offering buyers and sellers convenient cooperation conditions.
The Love Power team has studied existing marketplaces and taken into account the wishes of artists and buyers in designing their marketplace. They plan to offer favorable conditions for artists in the form of a fixed commission and royalties, even from repeat sales. They also intend to conduct ongoing contests and drawings among NFT creators. For buyers, Love Power Marketplace will provide a simple registration process and secure storage of funds. Participants will also have access to a global community of artists and professional traders.
In addition to their commitment to supporting creators, Love Power also aims to provide fast and reliable transactions and transparent analytics on every purchase for traders. The team is planning to hold an airdrop for the loyal community, where users can get project tokens for completing simple tasks.
In conclusion, the Love Power ecosystem is a promising new player in the NFT market, with a focus on supporting creators and creating a better environment for trading non-fungible tokens. With the launch of their marketplace on the horizon and plans for ongoing contests and events for creators, Love Power is well-positioned to become a unicorn shortly.
