Hoard’s NFT Marketplace Brings More Versatility To Non-Fungible Tokens

| Publish date: 07/20/2021 (Last updated: July 20, 2021 08:10 AM)
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Even though the NFT industry is only now receiving a lot of attention, several of the projects in this space date back years. For example, hard NFT Exchange was founded in 2018, well before artists like Beeple would sell non-fungible tokens for over $65 million at auction. Being an early mover in the NFT space can give a competitive advantage, and the DAO model encompassing this ecosystem has received positive attention.
Enter The Era Of Scarcity
It isn’t surprising to see non-fungible tokens gain so much traction lately. Since the inception of cryptocurrencies, society has slowly grown accustomed to scarcity and scarce assets. For those willing to take investment risks, cryptocurrencies and NFTs can be viable options. Many see NFTs as an investment vehicle first and foremost, although other subgenres exist within this industry.

However, non-fungible tokens are a great way to showcase the potential for True Ownership of digital assets. Moreover, this concept can apply to many use cases, ranging from video game assets to digital content and even licensing agreements. Furthermore, the full potential of non-fungible tokens has yet to be unlocked. Now that holders can split and own a portion of high-value items with NFT technology, there are many exciting options to explore.

What Is Hoard NFT Exchange All About?

One aspect setting Hoard NFT Exchange apart from its competitors is the initial introduction of True Ownership. The purpose of blockchain-based assets is to empower the user and holder in every way. NFTs should not be an exception to this rule. Additionally, the team began implementing Etheruem and Plasma as initially supported chains to make the trading of non-fungible tokens more straightforward and accessible.

Hoard NFT Exchange has come a very long way since 2018. The platform kept growing, evolving and expanding. The launch of ta Software Development Kit (SDK) makes it easier for developers to integrate Hoard’s functionality into video games. Game developers will not need any special blockchain knowledge to leverage the potential of this SDK.

At its core, Hoard NFT Exchange is built for gaming-related purposes. Giving users the option to exchange value between games, the community, and developers will create a different era of playing video games.

Bringing more versatility and utility to NFTs is the next primary objective. Hoard plans to do so by creating a series of smart applications capable of enhancing the overall appeal of NFTs. Again, the integration of Plasma plays a crucial role, as it is an ecosystem with many users. More users mean more growth for the Hoard NFT exchange and its applications, leading to new and innovative use cases proposed by community members via the DAO governance system.

The Hoard Token

Similar to other blockchain projects, Hoard has a native token called Hoard Token (HRD). The token adheres to the ERC20 standard and resides on the Ethereum blockchain. Hoard Token is useful for paying for purchases of items within Hoard’s ecosystem. Additionally, the token can be used by developers to pay for service fees. The HRD tokenomics are as follows:

  • Token Name: Hoard (HRD)
  • Type: ERC20 Utility Token
  • Total supply: 1 billion
  • Utility Purposes: covering service fees, governance token support through the DAO
  • Network: Ethereum

Of the 1 billion HRD, 48% will be distributed over time. The team holds on to 20% of the supply, with 25% entering the project pool. The remaining 7% goes to community members, giving them a vote in the future development and evolution of Hoard’s ecosystem.

The Hoard Marketplace Changes Things

Expanding upon the existing NFT infrastructure Hoard provided, the team built a native Marketplace. It was part of their roadmap for 2021, and the Marketplace is live on the Ethereum mainnet. It features plenty of functionality, including using NFTs as collateral for loans. Even flash loans, which were introduced recently, support NFTs, creating an interesting take on decentralized finance.

The Marketplace also makes it easier for users to manage their digital assets and NFTs. As there is now more functionality and versatility to non-fungible tokens, users can explore trading, lending, and leasing options. The functionality spans all types of assets, whether they are in-game items, digital art, or even real estate.

The LOAN aspect of the Hoard Marketplace is intriguing, as it is a peer-to-peer lending solution. When a user puts up NFTs as collateral for a loan, another user will review it and extend the loan if conditions are favorable. If the borrower cannot repay the loan – or refuses to do so – they will lose access to their NFTs. Accessing the lending functionality requires owning HRD tokens, yet token holders will also receive a discount on the platform’s fees.

Staking Support Creates More Opportunities

As an extra feature for users, Hoard Marketplace has native support for token staking. More specifically, users can earn rewards twice by providing liquidity to ETH/HRD trading pair on Uniswap. When doing so, users receive an LP token, which they can stake on Hoard Market to earn the HRD rewards and Uniswap rewards alike.

Stakers also pay fees through tokens with strong liquidity, including stablecoins. As users keep staking longer on Hoard Marketplace, they will earn better rewards. Claiming the rewards is possible through the MetaMask wallet.
What Comes Next?
Per the Hoard Exchange roadmap, the team is currently building more functionality for the Marketplace. Users will be able to Build and Trade at some point in Q3 2021, with more information to be communicated via Hoard’s social channels. Later this year, the team will introduce the “Rent” feature on the marketplace. Furthermore, the community will gain governance rights in Q4 2021.

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