OpenSea competitor will distribute cryptocurrency for free to users2 min read
The OpenPFP.com non-fungible token (NFT) selling platform announced which will distribute cryptocurrency for free to its main users in order to encourage the use of the platform and place the marketplace among the largest in the crypto ecosystem.
Thus, the platform that integrates the Radio Caca ecosystem (RACA), announced its official launch on March 28 and that initially it will only work with ETH NFTs (OpenSea also accepts NFTs from Polygon and Klaytn)
“OpenPFP.com is well positioned to be the second or third largest NFT market by trading volume. Current estimates place futures trading volume in excess of $10 billion in the first 12 months of launch.
Thus, the marketplace announced the launch of the PFPCoin that will work in the same way as LOOKS from another competitor to OpenSea, LooksRare.
“In the beginning, $PFPcoin will be used to initiate user acquisition, incentivize early traders, catalyze trading volume, and reward PFP projects that integrated with OpenPFP.com early. However, as the platform gains traction and adoption, we expect the value of $PFPcoin to rise as the overall value of the platform increases.”
Cryptocurrency for free
Thus, according to OpenPFP.com, there will be an airdrop of 200 million (20% of the total supply) of PFPcoin that will be distributed for free to NFT buyers and sellers based on Opensea and LooksRare usage.
In addition, participants in the new marketplace will also be able to gain land in the USM Metaverse with 3,000 lands being offered to top PFP traders in the first 12 months.
So another 500 land will be given to the top 500 traders in April; another 500 lands will be distributed to the top 500 traders in May and finally 200 lands will be given out monthly to the top 200 traders for the next 10 months.
“This is just the beginning of how we plan to reward projects and traders who use our service to trade and launch their NFTs. We will have a lot more integrations that are being built and that we will be announcing soon.”