The text below is an advertorial article that was not written by Cryptonews.com journalists.
NFTs have become the new standard of measuring the popularity of celebrities. First, there was Facebook, then Snapchat, then Instagram, and various other mediums where celebrities interacted with their fans. However, no digital interaction comes anywhere close to the concept of NFTs.
The Concept Behind NFTs
NFTs or Non-Fungible Tokens are a way to uniquely represent an asset, be it digital or physical. NFTs are issued on top of a Blockchain platform in order to maintain the integrity of the asset while allowing a seamless exchange in the digital world.
The underlying Blockchain platform provides an immutable ledger to record every action performed on the asset, no matter how small said action is. This immutable record further allows the asset to be traced back to its origin, establishing credibility that the asset actually belongs to the source.
Representing digital assets as NFTs eradicates the possibility of buying and selling fake assets.
Considering the core features of NFTs and the purpose they serve, NFTs have quickly become the most appropriate way for celebrities to connect with their fans.
Whether it is an image, a video, a signed T-shirt, or even a signed Porsche, representing these as NFTs allows the common folk to become an owner of the original asset provided by their favorite celebrity.
However, while the buying and selling of NFTs has become relatively easier, the minting of NFTs is still a mystery to the masses. Minting of NFTs here refers to the creation of digital tokens.
For most celebrities, understanding the concept of NFTs and creating their own NFTs is a huge barrier in exploring this exciting space.
Making NFTs Accessible: Fomo Lab
This is where Fomo Lab extends its support. Fomo Lab is a unique NFT ecosystem with the goal to make NFTs accessible for everyone.
Fomo Lab collaborates with celebrities in order to provide them with a platform where they can connect with their fans and followers directly. Rappers, Musicians, Athletes, Artists, Influencers, and several other celebrity figures can join the Fomo ecosystem to seamlessly experience the world of NFTs, including gaining exposure to a target audience and a sustainable platform.
Each month Fomo Lab is growing its ecosystem through meaningful partnerships, allowing more and more celebrities to utilize NFTs and connect with their followers.
Why Fomo Lab
From a technology standpoint, Fomo Lab is built on the Binance Smart Chain which allows the Fomo ecosystem to facilitate NFT trade at low transaction fees and high scalability.
The selection of Binance Smart Chain for Fomo Lab’ platform is a strategic approach based on the fact that a high volume of NFTs is traded on the platform which is why the underlying technology needs to be safe from network congestion.
Fomo Lab offers a direct transfer of ownership to the users of the platform. These users can further sell these NFTs or keep them in their crypto wallets. Linked to the physical asset, the NFT acts as proof of ownership while the physical asset gets delivered to the user.
What makes Fomo Lab special is their unique ecosystem. Apart from minting and transferring NFTs on the platform, Fomo Lab provides additional facilities. First on the list is the IDO launch platform which allows a completely decentralized token listing. The IDO platform eradicates the restrictions that exist in other token listing models. It allows anyone to buy tokens from anywhere and at any point in time.
Next is the dedicated wallet in the Fomo ecosystem which can be used by celebrities to see which NFT or NFTs they own. They can receive their FOMO tokens in this wallet after selling the NFTs and users can also use this wallet to hold the NFTs.
Furthermore, this wallet allows the platform users to hold their FOMO tokens and stake them to generate a passive income.
Finally, there are FOMO tokens that facilitate all financial interactions inside the Fomo Lab ecosystem. These tokens can be swapped, staked, or used to buy and sell NFTs.
The tokenomics behind the token is defined by industry experts making it as sustainable as the platform itself.
Fomo Lab is opening the doors for celebrities to enter the world of NFTs. It is a platform where celebrities can quickly get started with minting their own NFTs and enjoy the features of a superior platform with a genuine audience. Stars like Tyson Fury and Rick Ross are already a part of the Fomolab ecosystem so, clearly, this is a space to watch.