While the gaming industry itself is huge, there are no marketplaces dedicated solely to the cause of providing gamers a platform to buy and sell gaming assets. Adding to this the high transaction fee on certain blockchains makes it difficult for users to trade NFTs in an effective manner. Traditional gaming assets often have a very high trading fee that ranges from 5% to 15%.
Currently, there are no NFT marketplaces that allow for friction-less transition from one blockchain to another or any NFT PFP projects that have clear utility defined for their minted NFTs.
SkinFlip aims to solve these issues, the platform will be game-oriented and will have a wide selection of gaming assets from all major blockchains in the form of NFTs and other non-NFT gaming platforms with open economies.
What is Skinflip?
SkinFlip is an NFT marketplace and wallet platform that is integrated with the Solana blockchain and is powered by the SkinFlip Turtles NFT collection and its Exchange Token (SFX). Both of these provide DeFi and marketplace utility to their holders.
The platform is being built with a vision to create a multi-chain platform that lets gamers trade video game assets securely and also discover exciting video game titles. SkinFlip advocates open game economies and are contributing to making NFTs the standard for the gaming industry.
SkinFlip boasts of one of the lowest fees in the industry which lets gamers and traders get more for their hard-earned assets. The maximum trading fee is set at 2% and it can be lowered further through NFT staking and the usage of SkinFlip Exchange Token SFX.
SkinFlip Turtles and NFTs
SkinFlip Turtles are the first official public project by the platform. The team will release 10,000 randomly generated SkinFlip Turtle NFTs onto the Solana blockchain.
Users who own these NFTs will get several benefits including trading fee reduction via NFT staking on the SkinFlip marketplace, passive emissions of the SFX token, access and voting rights in the SkinFlip DAO, early access to their marketplace, and complete IP rights to the NFT artwork itself.
SFX token and utilities
The native token of the platform is SkinFlip Exchange Token or SFX. It is an SPL token and has been designed as the foundation of the SkinFlip ecosystem. While the token has no economic or investment value, it is meant to serve as a utility token for SkinFlip’s products and projects.
SFX token has 2 major utilities:
- Marketplace utility: The SFX token can be used to buy and sell gaming assets with zero fees. It can also be used to accept offers for gaming assets with no fees.
- DeFi utility: SFX can be used for staking as passive yield and for multi-chain operability. The token can also be used for liquidity mining as more SFX rewards can be achieved with the SFX liquidity provision on DEXes.
The SFX token will have a total supply of 1,000,000,000 which is further divided into a 25% share that goes to the company and a 20% share for the team.
A 15% share is reserved for the ecosystem fund while a 10% share is kept aside for the NFT staking fund, Liquidity fund, and the public sale respectively. Finally, a 5% share is allotted to the pre-sale and the SFX token staking fund each.
The SkinFlip platform offers gamers a marketplace to buy, sell and stake gaming assets while also providing a real use-case for their NFTs. The platform is organizing an INO (Initial NFT Offering) giving users a chance to mint and own SkinFlip’s Turtle NFTs. The INO will take place on December 22nd 2021.
The platform will integrate major blockchains like Ethereum, Solana, Binance Smart Chain, Flow, and Polygon and plans to integrate more blockchains in the future. SkinFlip has been created for gamers and as the space is seeing more development, the platform intends to become a pioneer among the rest.
For more information on SkinFlip, please check out their official website.
Disclaimer: This is a paid post and should not be treated as news/advice.