Sirwin
Sirwin

Spume: An Holder Owned NFT Marketplace

By thefreethinkeer | StartUpInsider | 19 Feb 2022


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With technology evolving everyday, NFT market has gained more notoriety than ever in the last year. The recent influx of capital and attention into the NFT market is not temporary nor is it going to decline. From and educated and strategically analytical outlook, SPUME is anticipating a global adoption of NFT market mainstream by a vast population including those who do not have knowledge and involvement in cryptocurrency industry.

SPUME is a fully decentralized community owned NFT marketplace on Etheruem and eventually cardano where those who hold the SPUME token share the revenue generated from the market sales transaction fees. The goal of spume is to return power back to holders and reward community members and create an all encompassing platform for users to sell, trade and create non-fungible token on multiple blockchian transactions.

With it's widespread adaptation, SPUME will provide the market with better ways to buy, sell and transfer NFTs. Not only will an intuitive system be required to achieve this, but with a system that will fit the narrative of a truly decentralized platform where all it's stakeholders will be rewarded and allowing them to be involve in the creation and formations of new ever-changing ideas.

Market Analysis

The SPUME market is a system that redistribute transaction fees to a community of token holders and will provide not only the proper ledger maintenance, but also communal morale for artists, traders, and investors. With this large amount of transactions a well-organized and interactive DAO is very attainable, as well as a very sizeable user base, both from the standpoint of an NFT guru or a token holder.

Not only has the NFT space experienced massive growth over the last two years, the usage and cost of Etheruem and ETH native tokens has followed suit. The annual percent increase of coin cost is compared here to that of bitcoin, showing a clear correlation between NFT/ETH usage, starting in 2020. Additionally, the ETH market shows stronger growth than BTC over the past year.

Spume Project Targeted Market

With the large amount of components in the system, spume intends to meet a vast consumer network across the world. The market is divided into three main categories, which are; creators, investors and stakeholders. In this way, spume is structured to aim and target every corner of the cryptocurrency space.

spume

  • Creators: This includes but is not limited to: Artists, celebrities, content creators, politicians, athletes, titling companies and banking systems. In this grouping it include the people and entities that will be involved in the creation of NFTs, which can and will come in the form of many mediums.
  • Investors: Again, included but not limited to: Art collectors, NFT traders, asset consumers, cryptocurrency investors, corporations, investment firms and banking systems. These are the people and entities that will benefit from the NFT transactions on the platform, whether buying from creators or buying and selling on a secondary market.
  • Stakeholders: the third class is that of token holders. This is are/an individual who sees the benefit of holding an investment in the exchange system and chooses to financially support the idea. Decisions on large updates to the marketplace and additional utilities will be voted on by SPUME token holders.

Everyone who holds SPUME is eligible to receive a share of the 2.5% sales fee the Spume Marketplace charges. The 2.5% sales fee is distributed evenly to all SPUME holders based on the percent of SPUME tokens held.

Spume Solution Overview

There exist several open-source rigorously tested marketplace smart contracts, but the two best are OpenSea’s and LooksRare’s. OpenSea’s smart contracts are over 4 years old and require the use of proxy contracts to be upgraded. LooksRare’s smart contracts combine off chain and on chain data using EIP-712 signatures to create a readable and user friendly experience.

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The functionality of the NFT Marketplace will at first closely mirror that of LooksRare. The end goal however is to create a similar experience to that of OpenSea. Primarily meaning we equip those who have little to no experience minting NFTs, with the ability to mint and sell through our site without needing to fund their wallet.

Spume DAO

A decentralized autonomous organization (DAO) will allow a group of members to work together without explicitly trusting each other. Members are defined as those who work for the DAO. In this case, Spume will have a number of members working together to expand and improve the NFT Marketplace. Shareholders and members do not have to be disjoint. The system will be governed by a smart contract (potentially multiple in the future), such that the direction the Spume members build in is governed by the shareholders Members & Shareholders, there are two types of individuals within the DAO, they are: members and shareholders.

  • Members are people who work for the DAO, getting paid from the DAO Treasury, which is funded by the DAO’s Dividends.
  • Shareholders are people who do not work for the DAO but hold any number of Spume. Those individuals can be both members and shareholders of the DAO.

Shareholder’s Ownership and Voting: Everyone who owns Spume tokens is a shareholder of the DAO, and therefore is entitled to vote on proposals made by members. Every shareholder can vote once on any vote, and the value of their vote is weighted by the number of Spume tokens they own.

Treasury and Dividends: Just as shareholders are paid out dividends from the 2.5% Marketplace fee, the DAO is paid out dividends. Because the DAO holds 20% of all SPUME tokens, they are entitled to 20% of the Marketplace’s 2.5% fee. Instead of being paid out to an individual wallet, these dividends are paid out to the DAO Treasury smart contract, which in turn will payout dividends to the individual members of the DAO. This is how the members who participate in the DAO will be paid.

Upcoming Features

Spume project will provide many intuitive features unlike anything seen in the sector before. The first truly decentralized NFT marketplace of its kind. The proposed enhanced categorization design allows for the expansion of the NFT space itself, everything from music to social justice will benefit. With the arts, it aim to bring tokenized utility features to popularity. This includes and is not limited to medical cards, carbon credits, land deeds and other documentation of the sort.

features

A true utilization of advanced blockchain technology, a true valuation system to equip the fiat banking complex with meaningful tools to collateralize NFT's. This will be accomplished by working with art and data appraisers to create a seamless valuation process. Multi chain use and bridge functionality. Currently it is the industry standard for platforms to favor one blockchain. With the ability to swap with many coins, people will feel free to use what makes the most sense for them. A true NFT design and generation studio on Spume's platform where users can create and design any type of 2D or 3D NFT. This will be a revolutionary attribute that will make our platform a place where users have every ability to create, generate, buy and sell NFTS. It will essentially be an NFT marketplace and online design studio for the products being placed on the marketplace.

Spume Token & Its Tokenomics

The Spume token (ticker: SPUME) is an ERC20 token with a total supply of 100 million and 18 decimal places. The token is an implementation of Open Zeppelin's standard ERC20 token, with the addition of their Snapshot class. Adding the snapshot class allows spume to take snapshots of the current holders of Spume at any moment. Snapshot information is stored on the blockchain, and can be accessed by anyone. Snapshots can only be taken by accounts we authorize, and will be utilized later on for voting purposes with the Spume DAO and potentially to pay out rewards with the NFT Marketplace. Anyone who holds SPUME is a shareholder of the DAO.

Spume's tokenomics is hand crafted by industry and blockchain experts. The tokenomics are based around SPUME's key objectives as a project and with the community as the main focus. Token utility, price stability, and community security are the core ingredients that crafted Spume's tokenomics. There are a total of 100 Million Spume Tokens. This number allows the market cap to be interpreted easily and understood easily.This is especially important when a token is being paired against high priced coins, because many exchanges only allow tokens to have a certain amount of decimal points for its price. The Spume token supply is distributed as follows:

tokenomics

Meet the Team

team

Protocol Development Roadmap

protocol map

Official Resources

Website | WhitepaperTwitter | Telegram | TikTok | Instagram | Discord

#spumetoken #spumemarketplace #foxcampaigns #nft #nftart #nftcommunity #nfts #blockchain #crypto

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thefreethinkeer
thefreethinkeer

JS Developer | Bounty Hunting | Crypto Enthusiasm | Content Creation | Blogging


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