OpenLive NFT is a new pioneer platform in the non-fungible token market, aiming to develop an exchange for tokens including Rarable, Opensea, Foundation, and others. This new platform is the only verifiable method to create scarcity on the blockchain with an open and transparent system of token transfers. OpenLive achieves this by creating certificates or licenses using mathematical proofs that are verified by individuals.
The non-fungible token (NFT) had its major breakthrough into both popular culture and the art world establishment in 2021. In March, Christie’s made headlines with a sale of the NFT “Everydays: The price paid for “The First 5000 Days” by Beeple, a digital artist, was $69 million (€608 million). The NFT had a starting bid of just $100 (€88) but quickly shot up to become the most expensive artwork ever sold online.
NFTs are digital assets or objects created on a Blockchain network that have proper ownership of the same. To put it in layman’s terms, NFTs are unique objects which can be traded within an ecosystem using cryptography and software protocols. In 2021, the NFT marketcap increased by 1785%, resulting in billions of dollars of liquidity in the virtual asset market.
Enabling easy transfers during NFTs exchange
Currently, owning an NFT is a tedious process that requires constant upkeep and verification of ownership. Blockchain networks are still in their infancy stage and users are forced to rely on centralized solutions for services such as exchange, management, etc., leading to an ease of exit for these enterprises. The lack of proper exchanges for NFTs has made it difficult for owners to interact with other virtual assets and exchange real-world value, which is the requirement for most interactions in a decentralized market.
OpenLive NFT is a new platform that aims to overcome these restrictions and enable users to perform genuine ownership transfers of tokens. To carry out this objective, OpenLive NFT will generate certificates or licenses using mathematical proofs that are verified by people. This method of proof is verifiable without the need of a third party.
OpenLive NFT will make it easier for users to interact with other virtual assets, utilizing this proof-of-license system that can be verified by all parties involved in an exchange. There are many use cases where individuals and organizations could utilize this platform for better transactions and service provision.
Transferring easily during NFTs exchange
Transactions are an essential requirement for any service system provided by any organization. This includes the NFT market, where OpenLive has identified a series of problems which can be solved using their easy transfer method.
Each token is given a unique identity which disallows two identical items on the ecosystem, due to its nature of uniqueness, clients can prove their right on an asset by identifying it using this certificate or license.
Trading on different markets based on the value and uniqueness of the tokens
For example, Opensea is a decentralized marketplace that provides its users with non-fungible tokens based on their uniqueness and value. The platform also enables owners to trade items through peer-to-peer transactions without the requirement of intermediaries. OpenLive, allows exchange for tokens including Rarable, Opensea, Foundation, and others.
Authenticated with blockchain technology to prevent counterfeits
Blockchain is verifiable using the public key, anyone can verify authenticity without trusting an intermediary. The system uses its unique innovation to ensure proper recording on the blockchain. The first timestamp economy based on proof of license concept, created by OpenLive team enables unique NFTs to be transferable through a transparent and fair marketplace.
Non-changeable ownership in decentralized platforms
NFTs have non-changeable ownership that makes it impossible to change or alter the information. This is an important consideration when using this platform to transfer virtual assets between themselves since OpenLive can enable anyone to verify tokens at any time since the records are permanent and unchangeable.
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