In February, the NFT marketplace experienced its rebirth. For the first time in the last 8 months, trading volume is growing and reached a record figure of $2 billion. This was largely due to the activity of professional traders at NFT-marketplaces, as well as changes in the policy of trading platforms in relation to buyers after the launch of the Blur aggregator. The first to respond to market changes was the new NFT ecosystem LovePower, which creates a fundamentally new environment for trading non-fungible tokens. How the ecosystem works and why the startup is likely to become a unicorn in the near future is discussed below.
The Love Power Ecosystem: support for traders and artists
The idea of a fundamentally new NFT ecosystem emerged back in the crisis year of 2022, when the main problems of the market were clearly visible not only to traders but also to creators of non-fungible tokens. The main “red flags” were the confusion with royalty payments and commissions to creators, the lack of copyright protection for artists, and the difficult access of users to trading. A team of enthusiasts decided to change the rules of the marketplace and created a new decentralized ecosystem that included LovePowerCoin, LovePower NFT and Love Power Marketplace.
“Our concept is fundamentally different from existing ones on the market. First, we are ready to support creators by holding special contests and events for NFT creators. The level of rewards can be as high as 1.5 ETH. Secondly, we use fixed commissions and royalties so that each trader or creator benefits from the transactions,” commented the Project Manager of the Love Power Ecosystem Snezhana Kolesnik.
At the moment the company has already launched a native Love Power Coin token, which will serve as the unit of account on the marketplace, and part of the profits from the sale of exclusive NFTs will be used to provide a collection of non-fungible tokens, as well as for charity. As Snezhana Kolesnik explains, the project team intends not only to create better conditions for trading, but also to actively support talented artists, designers, musicians and other creators.
“We chose the name “LovePower” as our team intends to support the NFT industry by donating part of the profits to the artists themselves. This will help them develop in the field of digital art,” said Snezhana.
Love Power NFTs – tokens filled with love
In 2022, Love Power collaborated with famous European artists and designers to create its NFT collection, which is already traded on leading marketplaces such as Rarible and OpenSea.
LovePower Coin NFT collection at OpenSea
“We held a contest for creators with money prizes to motivate artists to join the community and create more and more artwork,” says the Project Manager.
NFTs from the Love Power Coin collection can be purchased here.
Love Power Marketplace is a new marketplace for convenient sales and purchases
In the first half of 2023, the project team intends to launch its own Love Power Marketplace, which will offer buyers and sellers convenient cooperation conditions.
“We studied existing experience in the marketplace and took into account the wishes of artists and buyers. Based on this, Love Power Marketplace will provide favorable conditions for artists in the form of a fixed commission and royalties even from repeat sales, and we also intend to conduct ongoing contests and drawings among NFT creators”, – commented Snezhana Kolesnik.
For buyers, Love Power Marketplace is ready to provide a simple registration and secure storage of funds. In addition, participants will have access to a global community of artists and professional traders.
“For traders, we are ready to offer fast and reliable transactions, as well as transparent analytics on every purchase,” says the Project Manager of Love Power Ecosystem.
In the near future, the company will hold an airdrop for the loyal community, where users can get project tokens for completing simple tasks. More information about the project here.