We bring you real art. We bring you NFTs. We bring you Defi.
All this together, we bring you Nostalgia!
Jump into our newly published lightpaper to take a glimpse into Nostalgia’s vision in launching a new platform.
- Defi and the NFT Market
Initially triggered by interest from few minor investors in 2020, the Decentralized Finance (Defi) market has accelerated its growth to become a sector with approximately 88.42 billion USD locked in total value and has currently established its ground as a new investment category. Compared to the Defi market, the Non-fungible Token (NFT) market seems to be still treading in its early stages with around 58,238,926 USD in global monthly trading volume (June 2021) showing potential room for more growth. Recently, ‘The first 5,000 days’ from a NFT artist ‘Beeple’ was successfully sold at an auction at an eye-opening price of 69,346,250 USD on March 2021 and worked as a catalyst to spark major interest on NFTs from the public. Also, in Korea a work from an artist ‘Mary Kim’ was sold at a price of 600 million KRW, surprising many. Ever since the occurrence of major sales, there has been increased involvement and investment in the NFT related services not only in the digital art category but also in the gaming, real estate, influencer share sectors as well.
NFT has established a method to ensure digitalized proof of ownership that is fool proof for the first time in the human history. The expansion of this industry is something to look forward to as more related businesses will emerge.
2. Challenges in the NFT Market
Currently, the NFT market is easily approachable as anyone can mint their own NFT and trade NFTs in an open marketplace. However, this has led to the fact that majority of NFTs being minted are low in quality and are often valueless forming a negative perception of the sector. These kind of NFT creations possess no intrinsic value and moreover, no utility as well. To address this challenge, Nostalgia Finance aims to provide selected NFTs into the market and bring utility through adding Defi functionality.
3. Features of Nostalgia Finance
Nostalgia NFTs are artwork created by in-house designers or artists under contract with Nostalgia. Thus, Nostalgia ensures that NFTs from the platform possess artistic value and have utility by the unique staking function of Nostalgia where users can stake NFTs to receive rewards such as drops of governance or utility tokens. Furthermore, Nostalgia will be providing artwork in real life to the successful bidder for certain pieces from artists that have been selected internally.
4. Tokens in Nostalgia
There are two types of tokens in Nostalgia.
First, PAINT
Second, CANVAS
PAINT serves a role as a utility token with a total supply of 1 billion where 10 % of the total supply, 100 million tokens will be revealed and traded through Uniswap.
65 % of the total supply, 650 million tokens will be reserved for the ‘Community pool farming’ where the reserved tokens will be dropped to users staking ‘Utility NFTs’ and the number of tokens dropped will be proportional to the number of NFTs staked on the platform.
Utility NFTs from Nostalgia can be purchased with ETH and PAINT tokens equivalent to 30 % of the sales in that round will be permanently burnt from the community pool farming stack. This will happen until the community pool farming stack becomes 10 % of the total supply.
‘Governance NFTs’ which drop governance tokens called CANVAS, will be only purchased through the utility token PAINT. Additionally, the drops through ‘Governance NFTs’ are designed to be much larger in number compared to the liquidity mining rewards from the PAINT-ETH liquidity provision. -
CANVAS, the governance token of Nostalgia will have a total supply of 40,000 and the initial supply will be 4,000 which is 10 % of the total supply which will be revealed and traded through Uniswap.
CANVAS tokens can be obtained through ‘Governance NFTs’ staking or PAINT-ETH liquidity provision. The amount reserved for rewards is 30,000 tokens equivalent to 75 % of the total supply. Drops for ‘Governance NFTs’ and PAINT-ETH liquidity provision will vary from each other. CANVAS tokens will be used for the platform governance.
Also, in occasions of physical art auctions, 10% of the sales revenue will be used to buy back the CANVAS token.
Additional features of the CANVAS tokens will be revealed to the public in time.
5. Physical art NFT of Nostalgia
Nostalgia aims to provide not only digital art in the virtual world, but also physical art which can be enjoyed in the real world. Successful bidders of NFTs will be allowed to use the function ‘Redeem’ in order to receive the physical art in real life along with artist guarantee certification.
Nostalgia’s genesis NFT: Beginning of Nostalgia is currently open for public sale. Visit the link for more information.
Learn more about Nostalgia through:
Visit our website: https://ngfinance.io/
Twitter: https://twitter.com/nostalgia_fi
Telegram: https://t.me/official_nostalgia
