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Instagram’s search for NFT marketplace signals the era of social media-based NFT platforms

After garnering the attention of many mainstream celebrities, non-convertible tokens (NFTs) have become the talk of the crypto town this bull season. This bull season has given rise to several crypto events, the most prominent being the community-powered meme token and the craze around non-fungible tokens (NFTs). The NFT frenzy this bull season is not just limited to crypto enthusiasts and has gained mainstream momentum with the likes of top athletes and celebrity artists auctioning their rare memorabilia and art using blockchain. The highest-grossing NFT artwork ever sold by an artist named Beeple was sold for $69 million.

Nefter is a unique take on the NFT craze that could potentially open the door for social media influencers to sell their posts as NFTs. It is an online marketplace for creators and fans to buy, sell, mint and collect NFT content in one web app. The platform can prove to be a game-changer for creators and influencers. It provides a way to monetize moments and unlock more value from each photo shoot. For fans, meanwhile, it’s an opportunity to own the creations of your favorite creators and build your own collection of essential images, each of which is represented as an NFT. NFTs are changing the way artists and fans interact. Now, thanks to Naftar, it couldn’t be easier to tap into the growing demand for digital collectibles.

While NFTs are not a new use case in crypto and first came into existence in 2018, it has certainly gained widespread momentum this bull season, allowing it to auction off its high-value collections to celebrities and artists. has become one of the use cases. . nefter promises to bring NFTs to the masses with its marketplace that will allow NFTs to be created and auctioned, such as by taking a photo and uploading it to social media.

Neftor beats Instagram to launch world’s first NFT social network

Instagram is one of the most popular social media and photo-sharing apps and as per the latest insider report, the platform is looking to introduce a subscription and marketplace for NFTs. Instagram’s interest in the NFT marketplace indicates that social media-focused NFT use cases could be the next big thing in the crypto space. While Instagram wants to focus on the NFT sector, Nftor has already launched the world’s first and only NFT social network, built for creators and fans to buy the content they create and collect. and can sell. The main goal of Neftor is to build a strong community of supporters and facilitate the use of the Neftor App.

NAFTER has introduced three staking tiers for different types of users and content creators such as Fanboys, Influencers and Celebrities, these tiers will help identify unique user-profiles and determine pool weights for rewards. There will be no lockup for staking. All stakeholders can place and place bets without delay or waiting period. Additionally, there will not be an auto-compound function.

These staking pools will remain available for staking until the web app is made available to the public. Once the web app is launched, it will convert to Creator Pool Staking, where users and fans can place bets on the profiles of their favorite creators in a “popularity contest” fashion, where the more popular the betting creator, the more popular the user. The higher will be the $NAFT. Receive as an early bet!

Jonathan Sule, CEO of Neftor, said,

“While the community awaits the much awaited Neftor App launch, we want to give a nice incentive to all our holders in the meantime. The Naftor Pool provides a safe place to bet your $NAFT and only place bets in the pool. receives more for $NAFT.”

One of the beautiful things about NFTs is that no two are alike: that’s what makes them highly collectible. And because blockchain provides authenticated ownership of tokenized assets, there is no dispute over who owns a particular NFT: if it’s in your wallet, it’s yours and nobody else’s. These give traditional NFT users a chance to gain notoriety and provide the highest return rate for $NAFT stakers.

Social Media Platforms Could Bring Next Big Use Cases for NFTs

The NFT first gained momentum through its use as a fan token for major sports leagues, be it premier football clubs such as Barcelona and PSG, or the major basketball leagues. These NFT Fan Tokens allowed fans to participate in various off-field activities and also allowed them to win memorabilia from the respective clubs. In the early stages following its popularity among celebrities, NFTs became a popular way for artists to launch and auction rare artworks. Now it looks like social media could potentially become the next big use case for NFTs

The popularity of NFTs has led to the rise of many new platforms that offer minting services that help people convert their favorite or valuable art into NFTs, but auction these NFTs to get the real value. is required. Social media platforms can use NFTs as meme tokens for popular posts from celebrity influencers that have garnered millions in auctions.

Image by USA-Reiseblogger from Pixabay

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Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.