Since the beginning of this year, NFT trading volumes have increased by almost 30%. This has also affected the sector for non-fungible tokens (NFTs). NFT trading volume has increased almost 30% since the start of the year. The peak of token sales occurred in March this year with creators selling over $400,000,000 in NFTs. The sector is growing steadily, and this has created new opportunities for creators and collectors. New technologies allow users to not only exchange NFTs for other tokens and transfer ownership rights, but they can also buy or sell NFTs. We’ll explore this and see why it can be helpful for artists and collectors.
Art is not just business, it’s true art
LovePower Marketplace The first marketplace of its type, it creates fundamentally new approaches in NFT trading. The project began as an exclusive community of collectors and artists who wanted to support the growth of digital art. This concept was conceived on the basis of patronage, and the support of young and promising artists capable of revolutionizing contemporary art markets.
It started with a group of European and American creators. The artists were very enthusiastic about the concept of the platform and supported it actively. They created artworks and turned them into digital prints, as well as actively promoting the idea among their communities. Love Power has grown from a small group of activists to a worldwide initiative that includes thousands of members,” stated one of its founders.
The project team realized at that point that Love Power wasn’t just an enthusiast group, but also one of the biggest groups of collectors and artists who were willing to create art and work for humanity. The idea to use the money raised by artists and direct a portion of it towards a fund that supports young artists was born.
We created our own fund and conducted a lottery. LOVE tokens holders were eligible to win cash prizes that could be used for aspiring artists or personal goals. Our lottery attracted more than 1,000 community members. The founders of Love Power Marketplace said, “We are preparing now for the next drawing.”
Its primary objective is to create the best conditions possible for the exchange, purchase, or sale of NFTs.
What is P2P?
Love Power Marketplace currently offers the ability to buy and sell non-fungible (NFT) tokens from both its collection as well as other collections. LOVE tokens are used to make purchases. They’re the currency of the whole ecosystem.
A portion of funds generated by token sales are automatically directed into a pool that is used to create lottery prizes. The more tokens sold, the bigger the pool of prizes and higher your chances to win. The company explained that this is the way they maintain the community and encourage the creativeness of their partners.
The project team is launching its P2P exchange soon, which will allow NFT holders the ability to trade them for digital rights or the actual token.
The system is simple yet complex. We are currently working to implement the P2P Exchange, which will help users make money by trading NFTs. We’re the pioneers of this feature, as it doesn’t exist yet in the market.
User A can exchange tokens that are not fungible by posting an offer to the platform. This must include the name of the token, the blockchain it was created on, its rarity, and the price. User B may also exchange an NFT, with the same details.
After that, the system operates as a standard P2P. After receiving NFT, the token of user A is transferred to the address of user B. Love Power acts as a facilitator and guarantees the exchange, but in this instance, the exchange is solely between two parties.
We decided to add elements of digital right transfer into the widely-known peer-topeer exchange system. The company said that it had created “a service which helps to popularize digital artwork and offers new opportunities and boundaries for artists and collectors.”
P2P platforms have many advantages.
- Simple exchange with high speed
- Exchange of NFTs generated on different blockchains
- Sell, buy, or trade tokens to make money
According to the founders, the P2P feature should be available by the end the year. The team is focusing on developing and supporting the LOVE Token.
Love Token: How much does it cost?
Love Power Marketplace uses the native LOVE token as its internal currency. It can be invested in and used to make investments.
Users can use LOVE tokens to pay for all operations and purchases made on the market. It’s convenient and cost-effective because you can buy and sell it on Uniswap and it soon will be listed at one of the centralized Exchanges (CEX). The project team said that they are currently in discussions to speed up this listing.
The LOVE token’s price is currently $7 and is increasing steadily. The token’s value has increased three-fold since the start of this year. Its number of holders has also almost doubled. Creators claim that this is only the beginning as they have not yet launched any marketing campaigns and are concentrating solely on the development of the marketplace.
I think the LOVE token will reach $10 by the end the year. This is especially true after it has been listed on the CEX. The manager of the company says that this proves the token’s utility, not just within the platform but also as an asset for investment or trading.
The token can be purchased on-line Platform Uniswap
The conclusion of the article is:
Love Power Marketplace, a new and revolutionary platform that has a token-exchange function can revolutionize the NFT industry. The project creators are more concerned with the social impact and development of digital arts and creatives than they are about financial gain. Soon, the company will announce some important collaborations as well as list its native token at a CEX. Keep an eye on the company’s news so you don’t miss out. Here is more information.
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