• Loot NFT’s innovative new metaverse is targeting to democratize the NFT space.
• This will be done by creating its own bid unit (BUNs), which are in short supply, and permitting single-only auctions.
• Loot NFT seeks to alleviate liquidity problems by using gamified bids for NFTs.

NFT sales accounted for nearly $US 64 millions in total value between March and April 2021. By October, sales hit $US 336.6 million. NFTs are a hot technology right now, but they face many challenges just as any other new technology. Many critics have pointed to NFTs, pointing out that they are a bubble just waiting to burst.

Investors worry most about liquidity. NFTs, according to some investors, are more risky than other altcoins because they lack liquidity. NFTs have a history that shows very few items and collections last the test. Most lose their value within months. As a result, NFTs become illiquid – meaning they are not easily sold or exchanged for cash without a substantial loss in value – leaving owners in an unfavorable financial situation.

If a holder wishes to sell their ETH they can do it on any centralized and decentralized exchange at any time. Matching buyers and sellers in NFTs can be more complicated. Instead of trading in speculative markets for NFTs and other commodities, collectors would rather HODL their items. Additionally, the NFTs are only sold on bilateral markets to a small number of potential buyers. A NFT card for in-game gaming might not be in high demand among a select group of customers.

The prospect of selling an NFT is still very unlikely despite NFT transaction Grey Market Value (GMV), having increased significantly since 2020. NFT holders are forced to accept the highest possible bid within a given time frame (potentially leaving funds on the table), or wait forever for liquidity until they receive the offer. It’s not all doom and gloom. There will be a number of projects to address NFT liquidity issues as well the price discovery problem, which could allow creators to have access to greater liquidity. Loot NFT, for example, is a revolutionary project that aims to fix the liquidity issue by creating a game-based method of placing bids on NFTs.

Loot NFT’s innovative new metaverse is aiming to democratize the NFT space, through not only providing a platform where users can trade their NFTs but also an entire blockchain ecosystem—from its own token to its e-commerce store, to its Loot Arena where users can battle it out to outbid each other.

This is not only helping to solve the liquidity problem in NFT, it’s also democratically democratizing the sector by leveling the playing field for how its auctions are conducted. Traditional auctions are dominated by the inflationary currency. This means that the rich can outbid all bidders. The purchasing power gap in auctions can be greatly decreased by implementing its own bid unit, (BUNs), which are in very limited supply. The approach makes it more fun and engaging to win NFTs, which encourages traders in NFT trading. This allows players to get NFTs for a fraction the cost.

Since Loot NFT’s bid units are tokens of limited supply and capped per account and have single-use only in auctions, the purchasing power disparity is greatly reduced. The strategy also makes it possible to make NFT trading more enjoyable and gamified. You can also win NFTs with a fraction of their price.

Momento, which combines NFTs and DeFi with Loot NFT allows NFT owners to reap rewards and HODL their NFTs until a buyer matches their asking price.

Mintverse and other new age platforms allow you to make, collect, or crowdfund NFT art. Sphynx, for example, offers interesting DeFiNFT uses such as loans against NFT collateral and NFT yield farm, co-ownership, or ownership of NFTs. The purpose of such projects is to offer products and services that address current problems in the NFT market.

The NFT industry has many positives but liquidity remains a problem. Companies are trying to find innovative solutions to this issue as the industry grows. Loot NFT is a pioneer in gamifying NFT trading. This allows players to engage with the platform and increases trading volume. Future prospects for NFTs are bright and it will be fascinating to watch how they evolve.

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