BitMart, a premier global digital asset trading platform, will list Throne (THN) on October 25, 2021. For all BitMart users, the THN/USDT trading pair will be officially available for trading at 08:00 AM EDT.
What is Throne?
Throne is an NFT ecosystem led by a collective of blockchain engineers and an accomplished team from the music and art world, brought together by the utilization of Ethereum. THN is the native currency of the Throne network, a keystone for the NFT economy.
Traditional digital assets—from event tickets to domain names—have no unified representation in the digital world. A game likely represents its in-game collectibles in an entirely different way than an event ticketing system. By representing non-fungible tokens on public blockchains, developers can build common, reusable, inheritable standards relevant to all non-fungible tokens. These include such basics as ownership, transfer, and simple access control. Additional standards (specifications for how to display an NFT, for example) can be layered on top for rich display inside of applications.
Non-fungible token standards allow non-fungible tokens to move easily across multiple ecosystems. When a developer launches a new NFT project, these NFTs are immediately viewable inside dozens of different wallet providers, tradable on marketplaces, and, most recently, displayable inside of virtual worlds. This is possible because open standards provide a clear, consistent, reliable API for reading and writing data.
The most compelling feature of NFTs is free trade on open marketplaces. For the first time, users can move items outside of their original environments and into a marketplace where they can take advantage of sophisticated trading options, like eBay-style auctions, bidding, bundling, and the ability to sell in any currency, like stablecoins.
Instant tradability of non-fungible tokens will leads to higher liquidity. NFT marketplaces can cater to a variety of audiences—from hardcore traders to more novice players—allowing for greater exposure of the assets to a wider pool of buyers.
- Immutability, provable scarcity
Smart contracts allow developers to place hard caps on the supply of non-fungible tokens and enforce persistent properties that cannot be modified after the NFTs are issued. For example, a developer can enforce that only a specific number of a specific rare item can be created, while keeping the supply of more common items infinite. Developers can also enforce that specific properties do not change over time by encoding them on-chain. This is particularly interesting for art, which relies heavily on the provable scarcity of an original piece.
Of course, like traditional digital assets, NFTs are fully programmable. CryptoKitties baked in a breeding mechanic directly into the contract that represents the digital cats. Many of today’s NFTs have more complex mechanics, like forging, crafting, redeeming, random generation, etc. The design space is full of possibilities.
- Non-fungible token standards
Standards are part of what makes non-fungible tokens powerful. They give developers the guarantee that assets will behave in a specific way and describe exactly how to interact with the basic functionality of the assets.
Invested in creators
What you do, what you make, and what you share online matters. The digital realm isn’t a secondary space anymore, it’s where thn lives, and it’s where the future is coming into focus. Thn need better systems for investing in creative expression, supporting visionary artists, and connecting the internet’s creative community. Thn’re building Throne to fill that need, using the possibilities of crypto to expand what’s possible for creators and collectors alike.
Throne will allow collectors to purchase digital assets that aim to push the boundaries of digital artwork. Brands, creators and collectors who support them are establishing a new paradigm, and thn know that what thn build together today will be integral to what comes next.
Thn’ve only just begun scratching the surface of what NFTs mean for creators. It’s incredible to partner with creatives, brands, innovators, influencers, and rights holders to bring content into the NFT realm.
BitMart Exchange is a premier global digital assets trading platform with over 5 million users worldwide and ranked among the top crypto exchanges on CoinMarketCap. BitMart currently offers 370+ trading pairs with one of the lowest trading fees in the market. To learn more about BitMart, visit their website, follow their Twitter, or join their Telegram for more updated news and promotions. Download BitMart App to trade anytime, anywhere.
THN is the utility token for the Throne community, network, and marketplace. By creating thn own token economy thn are able to provide a commission free platform if creators select to transact in THN, providing a more sensible and sustainable solution by driving forward a new creative economy. To learn more about Throne, please visit their website follow their Twitter and join their Telegram.