Place/Date: Kuala Lumpur, Malaysia - June 9th, 2021 at 10:00 am UTC · 4 min read
Contact: Jayson Tan, Source: Torum
Torum, the first DeFi, and NFT-infused crypto social media platform is now going to launch an NFT launchpad that is designed with cross-chain interoperability. The integration of the NFT feature will enable projects to raise funds from a community of over 56,000 cryptocurrency users and investors.
Torum NFT Launchpad is developed on Torum’s DeFi staking platform, Torum Finance that offers any issuing projects to launch NFTs with different rarity and total supply and also the burning period of the NFTs. There are two types of public launches with different criteria and gamification options available to choose from on the launchpad.
The first option is a dual token launch which gives NFT holders the vested right to burn the NFTs and receive the native tokens of both the issuing project and Torum in return. This launch creates a mutually beneficial result where NFT owners will receive two types of tokens, while the issuing projects can enjoy a higher public sale completion rate from both Torum and its community.
The second option is a single token launch which gives NFT holders the vested right to burn the NFTs to receive the issuing project’s native tokens in return. Other details such as whitelisting, token release rules, and buying limit per participant, will depend on the issuing projects, but will offer such projects immense flexibility to make their first debut on the Torum NFT Launchpad.
Unique from other NFT launchpads in the industry, launching on Torum will provide 5 exclusive benefits to projects, including:
The process does not stop when the Initial NFT Offering is completed, as projects can leverage the premium advantages of Torum, as a social media platform to continue strengthening their community-building effort and post-launch marketing activities.
Torum has successfully completed three separate fundraising goals over the last three months. The project completed a $500,000 presale with zero marketing presence in March 2021, raised a $1.5M private round from AU21, Consensus Lab, DFG, M6 and 16 other prominent VCs in April 2021, and successfully sold off $243,000 INO in under 20 minutes in May 2021.
In terms of development, the innovation of the team behind Torum has enabled the project to become the first to ever combine DeFi, NFT and social media. By having a social media platform with over 56,000 cryptocurrency enthusiasts, Torum will be developing a BSC-based NFT marketplace and a DeFi staking platform to build a one-stop ecosystem that is specially designed for the crypto space.
The Torum Android mobile app launch is expected by mid-June, while the NFT marketplace will be launched by around July. Meanwhile, Torum will be integrating the HECO chain and other mainstream public chain support into the Torum NFT Marketplace to develop the largest multi-chain NFT marketplace in the industry.
The continuous expansion of blockchain innovations will help Torum remain focused in the pursuit of its long term vision of becoming the largest crypto ecosystem that connects the general mass to the crypto space.
Torum is the world’s first DeFi + NFT social media platform that is specially designed for cryptocurrency users. Backed by AU21, Consensus Lab, DFG, M6, Waterdrip Capital and 15 other prominent VCs, Torum is now one of the fastest-growing social media platforms with over 56,000 registered users with a consistent 20 – 30% monthly user growth rate.
Disclaimer Torum is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.