CardStarter to Launch Spores IDO
“Spores Network believes that the composition and complement of NFT & DeFi will bring significant progress to the crypto space, making it more applicable in the real world”
CardStarter, the world’s premier incubator, launchpad and insurance program for Cardano projects, is proud to announce the next IDO Partner: Spores, the full-stack NFT platform.
The Spores team believes they have identified the five major pain points of the current NFT ecosystem:
1) Illiquidity and fragmentation;
2) Scalability and high transaction fees;
3) Friction (that is, lack of accessibility to fiat);
4) A gap between the decentralized realm and centralized projects;
5) And issues of shared ownership that will arise with coming regulation.
Spores has designed a blockchain-agnostic NFT platform that incorporates popular decentralized finance (DeFi) protocols to address these issues — providing liquidity, improving access to capital, and allowing NFTs to function as financial instruments. Spores will allow NFT mining and exchange across Ethereum, BSC and Cardano. DeFi users, through Spores, can participate in gamified implementations of staking, lending, liquidity pooling, yield farming, and more.
Spores will focus their initial strategy on the Asian crypto markets, emphasizing gaming, e-sports, digital arts, animation, and entertainment celebrities. Consistent with their aim to marry NFTs with DeFi, Spores has a two-phase plan to bring these designs to market.
Spores.app: “Asia’s of NFT marketplace”
The Spores.app caters to all NFT creators, owners, and developers. By unifying them and empowering them, Spores.app shall drive NFTs forward.
NFT creators on spores.app can set up their own storefront, auction their work, run crowd sales, and even “white label” their offerings. They have the authority to define the scarcity of their work, and earn continuing royalties for sales on the Spores marketplace. Creators can even sell their work on any other NFT marketplace.
NFT owners can easily prove ownership of their tokens, and sell their NFTs on the Spores marketplace. They can earn token rewards, and monetize their participation through the various DeFi protocols built into the platform.
Developers can create their own marketplace through the Spores SDK. Spores.js will allow them to power their own in-app economy.
Spores.app DeFi: “A real metaverse of NFT marketplaces”
Spores DeFi implementation will facilitate the transaction volume necessary to power a flourishing NFT ecosystem.
Spores will issue the ERC20-native token $SPO for community governance, and to facilitate use of DeFi protocols. They intend to incentivize all participants across the Spores ecosystem; the fee for each transaction on Spores will be proportionally distributed to NFT creators, the Spores Foundation, and a Spores reserve fund (for token buybacks, development grants, etc.).
About Spores
Spores Network founders believe that crypto will lead to decentralization of ownership and frictionless redistribution of capital. Their mission is to create an NFT ecosystem that is creator-centric, community-driven, frictionless, and borderless.
Spores are Duc Luu (Nasdaq IPOed serial entrepreneur ), Eric Hung Nguyen (former senior investment analyst at a top-10-worldwide hedge fund and blockchain angel investor), Paven Do (former blockchain & cryptonomics researcher at HK Applied Science & Tech. Research Institute), and a diverse team of advisors across blockchain and entertainment.
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About CardStarter
CardStarter is the first incubator, launchpad and insurance program for projects on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early supporters and a network of key partners. The Cards Accelerator Program (CAP) team works with each project individually to establish the right connections and map marketing strategies, establishing the foundation for long term success.
CardStarter is also differentiated by its charge to protect its supporters. CARDS provides unbiased third-party audits of every project’s code and protects IDO participants with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Genesis Shards, Plethori, Fractal, PARSIQ, Scryptic Tech and Longtail Financial. Once fully built, CardStarter will be an all-inclusive platform with a decentralized exchange to complement the current offerings. CardStarter also aims to be a nurturing force in the Cardano ecosystem, with hackathons and project development support being a major focus of the roadmap.
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