Introducing Revival, An Innovative IOST-based NFT Marketplace Launching in July 2021
Coming this July, EMOGI Network will launch Revival NFT Marketplace, the first major multi-chain aggregated NFT trading platform on IOST. Credit to its groundbreaking Margin Reward Mechanism and ultra-fast, secure, and gas-efficient on-chain transactions, the new NFT marketplace will provide artists and users with seamless experiences to create, buy and sell NFT artworks at high returns.
A critical look at the Ethereum-based NFT ecosystem
There is no doubt that the NFT boom is credited to the mass adoption and developer-friendly nature of the Ethereum infrastructure. However, the high cost and low-performance issues have long troubled average users on the Ethereum-based marketplaces.
High Gas Fee:
The average transaction fee on Ethereum has significantly risen since 2021. In February, the average gas fee was as high as $20. Since most Ethereum-based NFT marketplaces require average users to pay gas fees when creating, buying, selling, and listing NFTs, the overall cost can be substantial. It is not uncommon for an average user to buy an NFT for about $40 worth of ETH and end up losing over $200.
High Minting Cost:
Minting NFTs on Ethereum is very expensive as it requires a lot of gas. From February to March, the cost of minting NFTs is between $100 to $200 on Opensea, the largest NFT marketplace on Ethereum. To cover the minting cost, creators often have no choice but to sell their NFTs at an unreasonably high price to their fans.
Poor User Experience:
When the Ethereum network is busy, a transaction may not be confirmed after 5 minutes, and the marketplace website becomes very laggy as a result of network congestion.
Because of these issues, more and more creators and NFT fans worldwide are looking for other venues to share and trade their NFTs.
What can IOST-based Revival NFT Marketplace offer?
Innovative Margin Reward Mechanism:
Inspired by the boom of De-Fi and the popularity of staking pools, Revival implements the groundbreaking Margin Reward Mechanism. On other NFT marketplaces, users can make a profit only by successfully selling an NFT at a higher price. On Revival, users can earn rewards in LOL and IOST simply by listing their NFTs for sale. This staking-like reward mechanism incentivizes more users to list NFTs, which in turn brings more NFTs onto the marketplace for everyone to share and trade.
Satisfactory User Experience:
By leveraging the fastest solutions powered by IOST blockchain infrastructure, Revival can handle 8,000 TPS without ever letting users feel laggy.
Minimum Gas Fee:
Although Users need to pay a little iGAS when they create, buy, sell, and list an NFT, they can get enough iGAS by staking IOST. This makes transactions on Revival (or any IOST-based application) practically free. Read this article to learn more.
Multi-chain Integration:
To connect to more creators and NFT fans and offer more payment solutions, Revival will launch cross-chain bridges to ETH, BSC, and other prominent blockchains in the future.
Full Support for Creators:
Relying on the great IT experience and rich ecological resources of the EMOGI Network team, Revival is committed to providing strong funding, technology, and marketing support for creators worldwide.
Be the first to experience Revival NFT Marketplace coming this June!
For the latest news and updates on Revival, follow us on Twitter and Instagram, and join our Revival NFT Community on Telegram. For artists and creators looking to collaborate, contact revival@emogi.io
About EMOGI Network (LOL)
Founded in 2018, Singapore-based EMOGI Network has made it a lifelong mission to connect, inspire and empower all through blockchain technology.
EMOGI Network’s investors include top VC firms like ZhenFund, Matrix Partners China, Nirvana Capital, Metropolis VC, BlockVC, Huobi, AlphaCoin Fund, Danhua Capital, and more.
Our team members graduated from world-renowned universities such as Princeton, Columbia, Dartmouth, and Brown. These strong academic backgrounds are coupled with solid technology, business, and blockchain industry experience. In addition, our team leverages years of professional experience gained at top global MNCs such as Google, Microsoft, Uber, TripAdvisor, Kayak, Ogilvy, and Deloitte.
Currently available on Huobi Exchange, LOL is the native token of EMOGI Network, the 5th Huobi Prime project, with hundreds of thousands of users worldwide.
In May 2021, EMOGI officially announced our big step into the NFT space. Revival NFT Marketplace is coming to you in July 2021.
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