HANOOI,VIETNAM / ACCESSWIRE / May 6, 2021 / Sota Finance will see its SOTA token listed on Bitmart Exchange on May 10, with the available pairs being SOTA / USDT and SOTA / BTC. This follows a recent announcement, showcasing NFTA, their new addition of a cross-channel NFT auction and lending platform.
2021 is turning out to be one of the best years in the crypto space. Following Elon Musk’s recent announcement that people can buy Tesla with Bitcoin, plus a $ 69 million purchase of digital artwork and a recent NFT skit on a Saturday night, Blockchain, Cryptocurrencies and NFT once again made headlines.
The past two years have seen an explosion in the sale of digital art, which has been widely adopted by leading artists and auction houses that have grossed hundreds, thousands, millions and tens of millions of dollars. . However, unlike traditional art sales, the explosion of digital art is supported by non-fungible tokens (NFTs). The artwork is made up of digital assets ranging from a photograph, video, audio file, meme or even GIF supported by a digital property record, saved on the blockchain.
The advent of NFTs in the digital world
The internet has created a global community that has improved the way we communicate, share files, and stay connected. However, it has also made it difficult to preserve copyright in digital content. No consistent rules and regulations have been put in place to address this challenge.
As a result, creators of digital content are forced to choose between protecting copyright or reaching their target audience. In most cases, artists who choose to use predefined copyright protocols do not receive the exact incentives.
Fortunately, Bitcoin brought in blockchain technology, creating a new digital realm of opportunity. For example, blockchain powers decentralized finance, DAO, and non-fungible tokens.
In particular, NFTs have unique digital signatures that allow them to track the ownership of a digital asset from owner to owner without affecting the authenticity of the asset. Ownership is automatically changed once the asset changes ownership.
The integration of NFTs and digital art
SOTA Finance is bringing this new field to life by connecting digital art, NFTs and artists by enabling limited digital content creations and facilitating easy transfer of assets using blockchain technology. SOTA is an NFT platform that allows the creation and exchange of collectibles backed by NFTs.
The main point of difference of SOTA is that it is a multi-chain NFT platform, which means that it is integrated with more than one blockchain. The platform allows the creation of NFTs both on Ethereum and on the Binance Smart Chain. The SOTA platform is also expected to integrate with other blockchains such as Tomochain and Solana in the future.
By leveraging the power of being multi-chain, SOTA reduces the cost of gas when creating NFTs. The ability to create digital art NFTs through various channels has the potential to make the creation and sale of digital art and collectibles much more accessible. A barrier that has held back many artists in the past.
SOTA also uses an NFT farming mechanism whereby SOTA holders can wager their tokens to earn Pumpkin Points. Pumpkin Points can be redeemed for a variety of Limited NFTs listed on the SOTA platform. This is intended to entice users to stake their SOTA tokens, as users can then sell limited NFTs at a profit.
The SOTA team has integrated the famous South Vietnamese artist Dao Hai Phong. Additionally, during a recent AMA, the SOTA team stated that “In our future vision, the goal is to bring a variety of digital content marketers to the platform along with famous artists and media companies using the platform to distribute limited digital edition articles to their fans. ”
SOTA Finance seeks to realize a vision of bringing a new dimension to the NFT market.
Follow Sota Finance’s media channels to stay up to date with the latest news:
Official site: https://sota.finance/fr
Twitter – https://twitter.com/sotaNFTs
Telegram – https://t.me/sotaNFTer
Medium – https://sota01.medium.com/
Facebook – https://www.facebook.com/sota.finance
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THE SOURCE: SOTA FINANCING
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