How StartFi is Redesigning the Digital Asset Monetization Market
It is no news that making money online is now possible, thanks to the innovative measures rolled out in recent years.
The cryptocurrency market is continually evolving and introducing newer strategies that make it one of the most competitive financial markets in the world.
At the same time, the era of monetizing digital assets has been taken to newer heights with the introduction of Non-Fungible Tokens (NFTs).
It will interest you to know that there is a new platform designed to make NFTs more enticing. The name of this platform is StartFi.
This is a review of the StartFi project, as well as some of the strategic ways it is remodeling the digital asset market to be profitable for content creators.
The NFT for Content Creators
It wouldn’t be out of place to posit that StartFi has figured out some of the best ways to make Non-Fungible Tokens (NFTs) work perfectly for the content creators.
Under this new multi-channel network for content or NFT creators, StartFi empowers the content creators to monetize their talent.
The monetization also includes allowing the NFT or content creators to mint or issue limited editions of their crypto tokens for the fans. These tokens would ideally be built on the Ethereum-powered ERC-20 token standard and can be backed by several other Non-Fungible Tokens (NFTs).
The StartFi Structure
In this part of the review, you will learn about how the StartFi ecosystem works, as well as what the members of the ecosystem are to do.
The members are mainly the NFT creators and the fans of these creators. Below are the details of their different roles in the broader StartFi ecosystem:
- StartFi for NFT Creators
The content or NFT creators are the primary beneficiaries of the goodies that the platform (StartFi) has to offer.
The NFT creators in StartFi are allowed to mint their works as Non-Fungible Tokens (NFTs). This is done for two reasons. The first reason is that the NFT minting is an avenue for the NFT or content creators to raise funds to finalize the development of other projects they may have at hand. The second reason is that the initial NFT minting and distribution is one of the marketing approaches used by the NFT creators to give their fans exclusive access to their best works.
- Fans
On the part of the fans, they are expected to buy the minted NFTs from the content/NFT creators.
Aside from that, the fans can help the NFT creators in many other ways, such as upvoting the designs from the NFT creators and promoting the NFT creators.
- The StartFi Ecosystem
The StartFi ecosystem also has a role to play in the whole equation. The role of the StartFi ecosystem is to help the NFT creators raise funds by setting up the Initial NFT Offering (INO).
The StartFi ecosystem also helps in rewards distribution, digital rights management, partner management, and audience matching.
Final Thoughts
By and large, the NFT market is positioned for more growth. The tidings of the StartFi ecosystems favor content creators the most, and rightly so because they are the ones at the heart of the NFT market.
Thus, I am optimistic that the solutions offered by this project would go a long way to give NFT or content creators more opportunities to monetize their talents.
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