Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Introducing Spores Network: The Full-Stack NFT-DeFi Platform

6 min read

Introducing Spores Network: The Full-Stack NFT-DeFi Platform

Spores is a new full stack NFT and DeFi platform for creative industries that empowers creators to develop, share, and convey their life’s work is here. Consolidated as Asia’s leading NFT Marketplace supporting De-Fi and Interoperability Tools.

Spores came to life as a natural response to the growing digital “metaverse” that is already changing the way we think and act about living, owning, and sharing our physical and digital lives.

Spores’s developers envision a full-stack NFT platform that is cross-chain compatible to achieve universality. On this platform, users can issue NFTs, auction and exchange assets, and use other DeFi products without limitations.

The Spores platform uses blockchain and smart contract technology to authenticate NFTs, track the history of ownership and buy/sell movements, and securely decentralize their trading process, all while fully complying with intellectual property and copyright licenses to protect the benefits of NFT creators and owners.

Spores comes with a comprehensive set of features designed to benefit and facilitate all participants (artists and content creators, game developers, entertainment producers, clubs, collectors, celebrities and fans, and so on) in order to foster a creator-centric, frictionless, borderless, and community-driven ecosystem.

The platform is made up of four major components:

NFT marketplace

is where NFTs can be auctioned, sold, and traded. The market is supported by a cross-chain swap protocol and an auction engine. When a transaction (for example, an NFT auction) is completed, it is routed to the associated smart contracts and blockchains to settle payment and transfer ownership.

Any new NFT submitted for minting and auction is checked for existence and copyright by an AI assistant. It searches all popular NFT marketplaces for copycats, then compares resemblance between items/files for sale and reports plagiarism if found for further measures.

NFT decentralized exchange

a cross-chain interoperable DEX that allows NFT holders and DeFi users to trade fungible crypto assets for NFTs on BSC, ETH, and Polkadot-Substrate. Decentralized wrapping and cross-chain atomic swap protocols are used by the DEX to ensure that transactions run smoothly independent of the underlying blockchain.

Minting & Management Interface (MMI)

enables game developers, artists, and creators of digital content to mint (issue) and manage NFTs that represent their assets/items, as well as NFT holders to play and trade with their collections.

Users can also connect to the Spores Marketplace for NFT auction and exchange through the MMI. Minting & Management Interfase is a user-friendly blockchain-agnostic platform, so everyone can play on it easily.

Blockchain-smart contract protocols and infrastructure

Multiple Solidity-compatible platforms (ETH, BSC, Polkadot-Subtrate-Moonbeam) are used to build Spore’s blockchain-smart contract protocols and infrastructure, which use cross-chain interoperable protocols to enable smooth and frictionless NFT minting and trading with lower fees.

The ERC-721 standard is used to build the majority of NFTs. The ERC-1155 standard, on the other hand, allows for semi-fungible tokens, which is very beneficial in the gaming world. EIP-2309 has recently been proposed to make minting NFTs significantly more efficient.

This standard enables transaction-based mining. On the Spores Platform, a fungible (ERC-20 type) token reward mechanism is also in place to motivate all participants (game developers, artwork & digital content makers, clubs, celebrities, influencers, fans, collectors, sellers & buyers, etc).

Introducing Spores Network: The Full-Stack NFT-DeFi Platform

What Makes Spores Unique

The NFT business is expanding, and there are a lot of new players in the field. Following, the basics and comparisons among Spores’ leading competitors in the NFT world.

Spores is developing a full-stack decentralized NFT finance platform that gamifies DeFi users’ and collectors’ enjoyment of the NFT sector while also making it easier for developers and creators in the creative industries to monetize their work.

Any completed transaction (e.g. auction, exchange, swap) is subject to a transaction fee or gas, which can range from 2 to 6% depending on the transaction type.

The fees are distributed proportionally to the Spores’ respective NFT creators, Foundation, and Reserve Fund (to buy back tokens for community reserve thus enabling development proposals).

Spores’ Main Features:

  • Gamified royalty sharing: transaction mining that incentive users & traders with shared royalty over their NFTs creations.
  • T-DeFi: improving overall liquidity by fractionalizing multiple NFTs, utilizing LP mining on DEXes while lending & staking.
  • Batch minting & transfer: minting and transferring bundles of NFTs with minimal fees
  • Cross-chain trading: avoids market fragmentation on NFT swaps & wrapping across major blockchains (ETH, BSC, Polkadot)
  • User friendly: No need for coding skills or blockchaing knowledge needed to create NFTs.
  • NFT drops: Free NFT drops for users and LPs from notable & exclusive creators.

Beyond Art: Why NFTs Are Evolving

NFTs are used to denote ownership of unique products. They enable us to tokenize items such as artwork, collectibles, and even real estate.

These tokens can only have one official owner at a time, and they’re protected by the ETH blockchain, which means no one can change the ownership record or create a new NFT.

The transaction volume of NFT for various segments, as well as the market size of NFT within the same segments, demonstrate the volatility character of developments in this new market: Gaming transactions decreased, while the value of arts increased.

Blockchain and NFT technologies provide a frictionless and borderless development age for the creative sectors, which includes digital collectibles, digital content, various game types, fashion, digital artwork, entertainment, and sports.

NFTs Market to the Moon

On March 23, 2021, the NFT market capitalization reached an all-time high of $7.48 billion USD.

Spores’ ultimate objective is to create a full-stack NFT platform that includes an NFT minting gateway and a marketplace for trading NFTs, as well as cross-chain interoperable decentralized finance protocols, to address the aforementioned NFT space limits.

Spores Network envisions a cross-chain interoperable full-stack NFT platform that can issue NFTs, auction and exchange assets, and use other DeFi products without any barriers.

Spores uses blockchain and smart contracts to verify NFTs, manage ownership and buy/sell history, and safely decentralize their trading process, all while adhering to intellectual property and copyright licensing to safeguard the benefits of NFT developers and owners.

Why Digital Artists Are Flocking to Spores

Spores Network is equipped with features to facilitate and benefit all participants (artwork & content creators, game developers, entertainment producers, clubs, collectors, celebrities and fans, etc).

Spores comes with all of the necessary features to help and benefit all players (game creators, artwork & content creators, entertainment producers, collectors, celebrities, fans, etc).

SPO Token Specifics:

  • SPO token: Spores Platform’s native token is built for community governance and DeFi usage, with a focus on NFT creators on a DeFi community.
  • Incentivization: Throughout the network, SPO is utilized to reward NFT developers, buyers, agents, and liquidity providers.
  • Transaction fee: To purchase back tokens and fund development ideas, the fee was distributed among NFT Creators, SPO stakeholders, Spores Foundation, and the Reserve Fund.
  • Royalty sharing: Users can create assets and trade NFTs on Spores to generate royalty income streams.

Spores: Making Content King

Spores believes that content is king and expects to launch a venture fund dedicated to NFT + DeFi projects, including blockchain game publishing, that can expand the reach of its ecosystem.

Spores believes content is all and is forming a venture fund dedicated to NFT + DeFi projects to increase its ecosystem’s reach.

It chooses to be predominantly Asian-centric, and it is willing to focus on and promote Asian-dominated industries including digital art, gaming, animation, celebrity, and e-sports.

Differentiators and USPs:

  • Tech USP: In a straightforward manner, creators may mint and manage their NFTs. Spores’ open-source SDK makes it simple for producers to create their own white-labeled mini-site.
  • Creator-friendly USP: Spores’ platform provides a certain level of curation and marketing support for producers. Creators can set up a residual royalty so that they receive x percent of the sales price from every secondary trade, allowing them to profit as their works gain in value.
  • Loyalty USP: Spores will implement a liquidity mining program that pays artists for selling more NFTs pieces on its platform, as well as purchasers for transacting on it.
  • Content USP: Spores intends to focus its marketplace on Asian digital art, gaming, animation, celebrity, and e-sports. From investing in digital artists to co-financing the creation of metaverses and blockchain games, it is willing to license and even co-publish NFT-related projects.

Moreover, crypto marketplaces and/or animation studios like Animoca Brands, Razer, Tencent, Netease, EPIC, EA, and others are looking to enter NFT/blockchain.

The post Introducing Spores Network: The Full-Stack NFT-DeFi Platform appeared first on Blockonomi.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply