NFTs Make an Entrance on the Pi Network
Pi Network, the mobile-based cryptocurrency mining platform, has launched Pi NFT, its first NFT marketplace. Powered by Pi Chain Mall (PCM), registered in the 2023 Hackathon, Pi NFT enables users to buy, sell, and create digital collections using Pi, the native currency of the Pi Network.
Pi NFT has been designed to offer creators authenticity, originality, and compensation, providing greater transparency and security through its Decentralized Autonomous Organization (DAO). Pi Network plans to reach out to its community members globally, the “pioneers,” and educate them about the concept of NFTs while also allowing creators to earn rewards for their digital collections.
Creators can set up a 5% copyright tax for their collections, incentivizing them to produce high-quality and unique digital collections and rewarding them for their efforts. This feature is expected to attract more creators to the platform, leading to a wider range of NFT collections for buyers.
We may be a small marketplace but we have quality projects and artists like @ForgottenKings7 ⚔️ https://t.co/yGIrhY9sNr
— Pi-NFT Marketplace (@PiNFTMarket) March 3, 2023
Pi NFT: Accessibility, Compensation and Originality
Pi NFT is designed to enable secondary market sales when the Pi open mainnet is live, which will allow for greater liquidity and accessibility for buyers and sellers. Its interoperability with secondary NFT marketplaces will make it easier for buyers to access rare and unique NFTs while also providing an opportunity for sellers to earn more from their collections.
The launch of Pi NFT is expected to positively impact the Pi Network’s overall value as it offers a wider range of services and features, providing more opportunities for users to engage with the platform. The platform’s innovative approach to its parent network, low transaction fees, and diverse range of NFTs are set to revolutionize the world of NFTs and create new opportunities for creators and buyers alike. Furthermore, the marketplace’s focus on energy efficiency and environmental consciousness makes it a more sustainable option in the NFT market. With over 15 million engaged users across the globe, the launch of Pi NFT marks an exciting new chapter for the Pi Network.
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NFT and Web3 Ambassador. Bullish on all things Blockchain.