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NFTs, or non-fungible tokens, herald a new decentralized and transparent asset ownership age. One of the primary characteristics that distinguish NFTs is their assured exclusive ownership. An NFT is not replicable or forgeable; it is, in essence, a one-of-a-kind token.
However, this exclusivity significantly restricts the use of NFT holders’ assets. This has prompted entrepreneurs in the industry to push the boundaries of what is possible with NFTs, including fractional ownership alternatives.
Today’s review is about Piqsol, a new initiative attempting to join the market for fractional NFTs. We will present a series of unbiased facts regarding this new blockchain project to assist readers in comprehending how Piqsol operates.
PIQSOL is scheduled to launch on 29nd April 2022 and aims to become the largest platform for trading non-fungible tokens. By holding PIQSOL tokens, users have access to the trend of fractional NFTs.
The following subsections will assist us in comprehending the project’s primary characteristics. We will discuss the $PQL coin and its upcoming ICO following this introduction.
A Project Oriented Toward Fractional NFTs
NFT fractionalization aims to enable several co-owners to hold a tokenized item. The owner of this object may create several tokens representing the components of the first NFT and distribute them to interested parties. Due to fractional NFTs, valuable and unique things can be shared between several persons.
If you possess a digital art piece and wish to sell it, you may have difficulty finding a buyer owing to the high cost of the NFT. On the other hand, fractions of NFTs are considerably more economical since they enable the purchase of products in much smaller quantities and make numerous transactions much more accessible.
The Piqsol NFT Collection will contain 5,000 NFTs, providing you with unique access and privileges to the complete Piqsol Ecosystem. The ecosystem will comprise the world’s first fractionalized NFT marketplace and metaverse on Solana.
The Piqsol Fractionalized NFT Marketplace aims to reduce entry costs, allowing sellers to access liquidity more quickly and easily. Furthermore, it wishes to enhance market access and facilitate the formation of new and fascinating communities.
The team is going to introduce three tiers:
- Tier 1 will comprise 3,000 NFTs and offer discounted platform fees, early access to the metaverse, voting rights on the system.
- Tier 2 will feature 1,500 NFTs and, together with the advantages of Tier 1, it will give a 1.5% profit share in Piqsol’s operations.
- Tier 3 will include the last 500 NFTs, triggering no platform fees, higher profit shares (3.5%), and access to events in London and Dubai.
Buying and Using NFTs on Piqsol
By enabling multichain minting, purchasing, and selling options on the Piqsol platform, the project hopes to make it easier for its clients to transact with NFTs. Users will have the opportunity of transacting with Solana, Polygon Matic, Piqsol, or the BNB chain.
Once you’ve purchased an NFT through our platform, it becomes easy to decide what to do with it. You may either gift it or share it. Additionally, you may list it for sale right from the wallet.
The Project’s Tokenomics and ICO
The term “ICO” refers to an initial coin offering. It operates as the equivalent of an initial public offering (or IPO). We can sum up the $PQL tokenomics as follows:
- Half (50%) of the money collected through the fees is returned to holders.
- The liquidity pool receives 25% of these fees.
- Each sale operation will trigger a 25% tax for the first six months.
A liquidity pool is a collection of crypto-currency assets secured by a smart contract and may be used for exchanges, loans, and other purposes.
The project will issue a total of 18 billion tokens. After the ICO concludes, all unsold tokens will be burned within seven days.
The team receives around 28% for further development, while Press Releases and Initial Coin Offerings/Exchange Listings earn approximately 15% and 37%, respectively. Another 11% percent of the tokens go to advisors/bounty and marketing/influencers, while the remaining 9 percent goes to the company’s reserves. Although these values are susceptible to change, this is the way the distribution will begin on Piqsol.
The $PQL Utility
In the following usage scenarios, the Piqsol token will be used to pay for gas:
- Token holders may only whitelist for NFT drops using Piqsol tokens.
- Users can stake tokens in exchange for a portion of the portal’s transaction fees.
- Users communicating with one other to place bids on digital assets will require Piqsol tokens to access the messaging system.
- Token holders who stake on the PIQSOL platform are promised significant returns from the taxes levied by the system.
- As one may guess, fractionalization of NFTs is only possible when platform costs are paid using the Piqsol token.
This coin will be used for all transactions in the globe metaverse, including but not limited to tutor fees, bill payments, and much more.
Piqsol – Our Conclusions
Piqsol’s intentions to take over the fractional NFT market have the potential to draw the market’s attention. Our article took a first view on the $PQL token, its coming ICO, and its utility.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects or cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More