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Andy Watson
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Non-fungible tokens are the latest product of the DeFi world and have several use cases. They are a type of tradeable digital assets that contain digital ownership certificates and are authenticated through blockchain networks.
The digital art community has open-heartedly accepted NFTs as they solve several problems that were hollowing the industry from inside out. NFTs provide a way to secure digital art, make them easily tradable and ensure the copyright remains intact. Several professional sportspersons, teams, artists such as painters, photographers, musicians, etc., have launched their NFT collections and are enjoying the riches.
However, NFTs use cases are still limited to a certain crypto-savvy community and need to be taken mainstream. FomoLab comes here to rescue as a platform that saves people from the “Fear Of Missing Out” on the lucrative NFTs.
How FomoLab Is Changing NFTs
FomoLab is one of the fastest-growing full suite NFT DeFi Platforms on the Binance Smart Chain. It is a NaaS (NFT as a Service) platform that integrates services for all entertainment and creative industry verticals.
The company creates Blockchain media content for the world’s most renowned entities in the art world. It helps Blockchain projects by providing them services and bringing them to life.
The team at FomoLab consists of passionate NFT lovers, crypto experts, and artist representation specialists.
FomoLab was brought together to create NFTs, digital collectibles for famous personalities, and a Smart ticketing service. The company has a pre-existing network of sports personalities and celebrities excited to become a part of the crypto ecosystem using NFTs.
The company offers a unique use case for NFTs, unlike others which helps them bridge the gap between current distribution network architecture and NFTs.
FomoLab Ecosystem
FomoLab ecosystem enlists five significant products that help make NFTs mainstream and bring a positive change in the digital art industry. These set of products are:
- FomoSTAKE
- FomoSWAP
- FomoWALLET
- FomoJACKPOT
- FomoVAULT
These products create an immersive platform for collectors and fans to access and trade digital and physical collectibles.
FomoSTAKE
The FomoLab staking platform is used to earn rewards in the form of FOMO tokens and supply liquidity to the FOMO Pools, majorly of Pancake swap. The company is also developing a FomoSTAKE V2 platform with the ability to mine and stake exclusive NFTs from famous sports personalities and celebrities.
FomoSWAP
FomoSWAP is a p2p marketplace for the users to sell and trade NTF art and collectibles and in-game assets.
FomoWALLET
FomoWallet is the first passive staking wallet for NFTs, which can earn FOMO tokens by simply storing your NFTs on the platform.
FomoJACKPOT
Every month, the company partners with a renowned personality to create an NFT collection of physical and digital products that are redeemable using FOMO tokens and sold in FomoSwap.
FomoVAULT
FomoVAULT holds some of the most valuable NFTs across the blockchain community. It will be audited and used to achieve a minimum redeemable value of FOMO tokens. Users can redeem these exclusive NFTs by burning the required token amount.
The vault combines the benefits of farming, harvesting, and staking in a single NFT marketplace. Users can stake FOMO tokens in the vault to receive an annual APY for depositing their assets.
For the Future
FomoLab has developed several strategic partnerships with various hedge funds and VC banking globally. It also lists some of the most renowned artists, musicians, celebrities, and athletes. These partnerships help companies capitalize on the latest NFT trends and help them go mainstream.
Within the few weeks of launch, FomoLab is already setting up the standards for immersive NFT marketplaces to step up their game. The collective effort of FomoLab and other NFT marketplace will drive NFTs adoption and achieve more popularity.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.