If you are someone who is always looking for newer and better NFT platforms to view, buy, sell, reference and/or create NFT arts, the name Artrade probably already rings a bell. Especially with all the buzz surrounding the project’s ongoing ICO.
Of course, there are already a plethora of marketplaces such as OpenSea and Rarible that give you access to the global NFT market. France-based Artrade, however, claims to be a more evolved version of these ordinary platforms. It is basically a combination of a social network and an NFT marketplace.
Not only that, but Artrade also promises to bring a host of additional benefits that you don’t usually get in conventional NFT markets. Powered by Solana, the platform aims to become the first in the world to launch a NFT mobile app. Development of the app is currently underway and the team plans to launch it in the first quarter of 2022, followed by the listing of the ATR token on major exchanges.
We’ll dive deeper into all of these aspects in a moment – but let’s start with a quick overview of the problems Artrde is trying to solve.
Pain Points in the NFT Industry
Just as 2020 was the year of DeFi, 2021 will forever be remembered as the year of NFTs. The market for non-fungible tokens grew rapidly last year to exceed $41 billion, which is particularly impressive considering that the centuries-old conventional art market is worth just $50 billion. of dollars.
Despite this phenomenal growth, however, the NFT industry is still quite nascent and leaves a lot of room for improvement. Some of the major pain points affecting NFT users, as well as the market, include:
Issues Affecting Users
- Lack of easy ways to create, buy or view NFTs.
- The tools that already exist to create or buy/sell NFTs require some technical know-how. This had a negative impact on the reach of the industry.
- The vast majority of NFT marketplaces and platforms only accept cryptocurrencies for payments.
- Most marketplaces charge high fees that not all users are comfortable paying.
Due to these factors, the NFT market has so far mainly attracted connoisseurs.
- The market is highly fragmented due to lack of interoperability.
- The barrier to entry for new artists is often very high due to high costs.
- The technology that is fueling the growth of the NFT market is often criticized for being too power-intensive.
How Artrade Tackles These Pain Points
Artrade’s primary goal is to lower the barrier to entry to the NFT market so that it can be a truly democratic industry providing equal access and opportunity for all including artists, buyers, sellers , connoisseurs, as well as new and existing users with little or no exposure. to crypto and NFTs.
Artrade will be available as the Web and Mobile apps. The app itself is very intuitive given that it borrows heavily from popular social media apps that most users are already familiar with. For example, the app fetches you a news feed displaying collectibles in Pinterest-like galleries.
Getting started is also easy. Simply :
- Download the app (or access it via a web browser on your PC/Mac).
- Sign up via your Instagram or Twitter account. Alternatively, you can also use an email address to register.
- Use Artrade’s native wallet or connect a third-party wallet to your account.
As simple as that!
To start with, Artrade offers a feature called Live NFTs which allows you to create an NFT directly from your smartphone. You can personalize your newly created content by adding effects (GIF, emoji, filters, etc.). Needless to say, it’s as convenient as it gets.
From the moment you list your content for sale on Artrade, it exists as NFT on the platform. This feature will initially only be available to users with more than 10,000 Twitter or Instagram followers.
And it’s not only the ease of creating an NFT, but you can also easily display them in a virtual gallery for your followers and others to see.
Likewise, you can also browse work posted by other artists, follow artists you like, share their work, interact with other users, engage in healthy discussions – basically, the app lets you pretty much anything you can do on your favorite social network. media platforms.
Real NFT is another cool feature promised by the platform. This feature allows users to sell an NFT associated with a physical asset. Using this feature, you can create a series of NFTs associated with any real object such as a painting.
Here is a quick demo of what the Artrade app promises to deliver:
And when it comes to buying or selling an NFT, Artrade has more to offer than conventional NFT markets. Indeed, unlike most platforms, Artrade accepts both fiat and crypto for payments, meaning you can still buy an NFT even if you don’t own any crypto (or don’t want to spend any of your crypto stock).
Artrade undertakes not to charge more than 2.5% commission on any NFT sale taking place on its platform. That’s on par with what industry leaders like OpenSea currently charge.
However, the platform promises to start its journey as a “almost free platform” to encourage more and more users to board. After a year, he can gradually start to receive a commission.
User Security on Artrade
Artrade promises to take utmost care of user safety. This is why every time you buy or sell an NFT on the platform, you will need to authenticate your transactions via your Instagram/Twitter/email account.
Additionally, you will also need to secure your account by adding a 2FA or faceID. Note that FaceID or GoogleAuth is required for each login, as well as when buying/selling/transferring funds or NFT.
ATR Token and Artrade ICO
ATR is the platform’s native token that glues the individual components into the larger Artrade ecosystem. The total supply of ATR has been capped at 1.8 billion tokens.
ATR is a BEP20 token that comes with several use cases, including:
- Proceeds from the ATR token ICO will be vital for the development of the Artrade ecosystem and its global expansion.
- Users can hold ATRs in their accounts to earn daily interest. The best part is that you don’t even have to lock your tokens for a predefined period. In fact, you can withdraw the tokens at any time.
The ATR token will be used to reward users each time they upload an NFT and display it on their profile. The value of the NFT will determine the amount of reward (interest) paid to the user.
- Artrade will offer special fee discounts if a user purchases an NFT using the ATR token.
- ATR also serves as a governance token. By owning ATR, you gain voting rights to participate in the project’s decision-making processes.
A total of 900 million ATR tokens (50% of the total supply) will be delivered during the ICO which will take place in three phases. In the first phase, the token was priced at $0.02 while, in the following phases, the price increased until $0.03 and $0.04 respectively.
Payment methods include both fiat (bank transfer) and crypto (ETH, USDT, BUSD, BNB).
A total of 150,000,000 tokens were issued during the first phase with a six-month vesting period. Phase 2, which ended on January 20, made 300,000,000 tokens available with a four-month vesting period.
The third phase of the ICO, which is due to end on February 15, has a supply of 450,000,000 tokens.
So far, the ICO has raised a considerable sum $4.5 million of the ICO.
Artrade also uses the services of Synaps, a specialized technical service provider, to create a secure tunnel and implement KYC/AML as well as other regulatory procedures.
Roadmap and conclusion
So far, the Artrade team has done a decent job of delivering on their promised roadmap, which is another key factor that gives them the kind of legitimacy you’d expect from such an ambitious and elaborate project.
As you can see, if the team can stick to this roadmap, Artrade could indeed emerge as a game changer in the NFT space. Of course, we’ll have to wait a little longer to get a preview of the app. We’ll get back to you with more details once that happens.
For now, this seems like a serious product that could simplify and add value to how NFTs are created, consumed, shared, as well as bought/sold.
If you want to learn more about the project, Artrade’s white paper is a good place to start.
If you are intrigued and considering participating in the ICO, head over to the Artrade ICO page.
All information contained on our website is published in good faith and for general information purposes only. Any action the reader takes on the information found on our website is strictly at their own risk.