OnlyOrigin Introduces the Buyback Mechanism into the NFT Market to Reduce the Risk of Collecting NFTs
November 3rd, 2022 at 2:03 pm UTC · 3 min read
The valuable and creative NFT market, OnlyOrigin, announced today that they will officially launch the buyback mechanism belonging to NFTs from November 10, 2022, which will be a milestone in the history of NFT development. OnlyOrigin promises that the collection of NFTs they jointly launch with creators will allow users who purchase to sell them back at a price that is part of the issue price, so as to reduce the investment risk of users collecting NFTs. This is equivalent to throwing a blockbuster into the long-quiet NFT field, which will have a subversive impact on the development of NFT.
With more and more NFT markets emerging in 2021 and high sales across the field, it’s hard for crypto enthusiasts to escape the buzz of the non-fungible token (NFT) market. NFTs offer many benefits to creators and collectors. Likewise, as a relatively new asset class, NFTs carry unique risks.
One of the biggest challenges of the NFT market is valuation. Since there is still no standard, there is still a lot of uncertainty in NFT price determination. While the price of NFTs depends heavily on factors such as uniqueness, creativity, and scarcity, prices are often too far from valuation.
To solve this problem, OnlyOrigin publishes a collection of curated and verified NFTs, NFT projects jointly developed by OnlyOrigin and creators who are known for their unique perspectives and excellent quality. Their distinguishable background designs can be easily distinguished from other iconic NFTs such as Bored Ape Yacht Club, Azuki, Doodles and other blue chip projects.
On the other hand, the emergence of the OnlyOrigin repurchase mechanism also solves the problem of NFT valuation. OnlyOrigin promises that they will launch a collection of NFTs that users will be able to sell back to OnlyOrigin. The price at which OnlyOrigin repurchases NFTs depends on the issue price and rarity of NFTs. The rarer NFTs repurchase prices will be higher, and can even exceed ten times the issue price.
The emergence of the OnlyOrigin repurchase mechanism will subvert the entire NFT field and bring amazing results to the development of NFT. The repurchase mechanism will encourage the enthusiasm of NFT creators and collectors, so as to reduce the investment risk of collectors, and at the same time, the released projects will develop bigger and faster.
About OnlyOrigin
OnlyOrigin, a decentralized NFT marketplace based on Web3.0. OnlyOrigin will work with creators to create some curated and verified collections of NFTs, hoping that more NFTs with good storytelling, utility and gameplay can gain real value and provide users with high-quality, original and unique NFTs. OnlyOrigin aims to create a gamified NFT trading platform, by developing a series of interesting features, enabling more creative collection methods, and is committed to making NFT accessibility and NFT purchases more practical and playable than ever before .
Keep an eye out for more information on OnlyOrigin: Twitter, Facebook, Telegram.
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