Important changes on NiftyPlanet
We are glad to inform you that we decided to migrate to BSC from the ETH blockchain with the NFPL token. Together with the migration, we will change tokenomics and exchanges where we will be listed. We made this decision based on a lot of benefits that all our users will have in the future. For all categories of users, investors it requires some actions.
For the pre-seed investors, all tokens that have been distributed on the ETH blockchain (ERC-20) will be automatically swapped to BSC (BEP-20). For ICO investors — all of them need to go to our ICO platform and provide their wallets. (The video instruction will be uploaded to our Telegram channel and YouTube channel). On the day of listing (September 25), tokens will be automatically distributed to all of them. For Original NiftyPlanet NFT collectors — the DeFi module will be available on time as we published previously. All of them will need to change NFTs through the special bridge between ETH and BSC starting from September 29.
Why did we decide to do that?
For us, the main focus is to develop the NiftyPlanet marketplace with high-value NFTs and additional services that can be interesting for NFT collectors. Based on this, as you know, 1 week ago we added BSC as a second blockchain for our marketplace. For now, we have 4 drops that available on ETH and BSC. We did it because the popularity of BSC and other blockchains as Solana and Flow and some others layer 2 solutions is growing every day. The same situation is happening with fungible tokens. We can see a few important advantages that will improve our user/holders’ experience, usability, and profitability.
1. Huge gas fees in ETH.
In the nearest 4–6 months, gas fees in ETH will be quite expensive with a high chance of increasing even more. As strong believers of DeFi and Decentralize tools, services, and exchanges, we can see dramatic changes in ETH blockchain in the middle term. The gas fees are stabilized and cost a lot of money for any type of transaction (altcoin transaction is 30 USD, NFT minting — 120 USD, adding liquidity on Uniswap — 200 USD, a trade on Uniswap — 40 USD). Considering that the average investor is not a whale and prefers to invest less than 1,000 USD in altcoins especially in a young project like ours. Switching to BSC will bring much more chances to be more active, spending less money for any kind of activities, and respectively get more income from operating NFPL tokens.
2. Smart spending and cost-effective activity.
As a startup team, we know how difficult it is to attract and earn each satoshi (cent). We prefer to spend less money on any kind of transaction. On a daily basis, we are faced with many different types of transactions: salaries, marketing spendings, incentive programs (in the future), bounty campaigns, NFT creations, Smart Contract deployments. And with all these activities each transaction multiplied to hundreds per month can save our budgets significantly, as well as save money for our customers, users, and employees. Just one bounty campaign could easily become 5,000 USD in savings. We are not that rich to be the breadwinners for ETH miners.
3. New tokenomics.
We decided to decrease the number of tokens that will be available from 1 billion NFPL to 300M NFPL tokens. Technically, we could burn unused ERC-20 NFPL tokens but because we did not list NFPL yet, the best solution is to change the number of tokens in the original amount. So nobody in our DAO can make more tokens than 300M and it creates a much more fair token valuation. New tokenomics will be announced soon.
The NFPL token listing is scheduled for September 25, 2021. We will list on Pancakeswap and 1inch. The token distribution is an important thing to know for any investor, trader, holder and you can see it below. All tokens will be distributed on the listing date. Full tokenomics with small details and an explanation of how everything works will be published shortly, stay tuned for further announcement.
What is next?
We have planned a lot of interesting and exciting announcements from NiftyPlanet.
Briefly, we can share with you the next information:
1. There will be more and more high-value NFT drops from the famous creators and show business celebrities’.
2. Listings on Panckackeswap and 1inch.
3. DeFi module launch for NFT holders.
4. Partnership announcement with a respectable BSC NFT marketplace.
5. Big Marketing campaign.
6. NFT farming.
7. Improvements on the system and new features implementation.
8. Mid-term roadmap announcement.