NEW YORK, June 18, 2021 (GLOBE NEWSWIRE) — Recently, NFTO One, which was established in the United States, launches on the NICOEX exchange. NFTO One focuses on the application and development of a decentralized art platform. According to the news, Pantera Capital’s venture capital fund will deploy NFTO One and increase its holdings of NFTO coins.
Pantera Capital is a venture capital fund established by founder Dan Morehead in Menlo Park, California, USA in 2003, focusing on early investment in the field of blockchain and digital currency. In 2019, it received more than 175 million U.S. dollars of investment. Encrypted asset fund Pantera Capital’s thirteenth venture capital fund will end its fundraising on June 21 and enter the lock-up period. According to the news, the venture capital fund has invested in 4 projects with a total investment of 70 million US dollars, including Swarm, Aegis Custody, ORIGIN, and NFTO One. It is led by Pantera Capital, with a total investment of tens of millions of US dollars. The capital injection of Pantera Capital will greatly increase Pantera Capital’s holdings of NFTO coins. This news is bound to have a strong pull-up effect on the market.
Pantera Capital has always paid great attention to the blockchain market, especially in the physical application of the blockchain. The emergence of NFT attracted Pantera Capital’s attention. On March 11, the Associated Press, founded in 1846 and 175 years old this year, completed (probably) the first NFT auction in news history. In order to commemorate the 2020 Biden and Trump election campaign, the Associated Press has made the voting results into a digital artwork “A View from Outer Space” with NFT’s Bidding open in this way. In this creation, from the perspective of outer space, the states of the United States are marked in blue or red, respectively, indicating that Biden or Trump won in each state. In the end, it was sold at 100.9 Ether coins, which is equivalent to approximately US$180,000 based on the current currency price.
Established in 1923, on March 22 “Time” magazine, which is 98 years old this year, announced that it will auction the covers of the previous three issues of magazines in the NFT format. They are “Is God Dead?” (issued in April 1966) and “Is Truth Dead?” (issued in April 2017), “Is Fiat Dead?” (issued in March 2021), the highest auction price is 88 ethers of “Is Truth Dead?”, equal to 138,000 U.S. dollars.
All signs have made Pantera Capital realize that this market contains a huge amount of energy! Therefore, the venture capital fund that closes on June 21 will inevitably cause a strong impact on the NFT market.
NFTO Coin NFTO One is developed based on the underlying technology of the world-renowned public chain Ethereum, combined with the world’s largest decentralized data storage system BitTorrent, and is committed to NFT and blockchain the world’s top artworks. The blockchain project, coupled with the ERC-721/TRC-721 agreement, not only maximizes security, but also rapidly improves the efficiency of the global art market. NFTO’s business includes sponsoring art museums, organizing art exhibitions or publications, setting up awards, supporting art creation and art criticism, and establishing related art collections.
NFTO One is committed to facilitating the NFTization and blockchainization of the world’s top artworks. NFTO allows small businesses to create their own NFT mall without coding, helping NFT authors to easily issue NFTs and detect counterfeit/similar content for copyright protection purposes; Provides a platform for NFT collectors to conduct transactions at a lower cost.
The technical logic to realize the NFTization of artworks is: After the directly generated digital works and traditional artworks are digitized, information related to them, such as the author, creation time, the work itself, etc., are packaged and written into the BTFS decentralized storage system. Then write the stored address into the smart contract in the ERC721/TRC721 standard on the blockchain to generate a unique token. Since the creator and the digital file are permanently linked together, the uniqueness and authenticity are guaranteed.
The NFTO One team said: “Through NFT, we will be able to provide a better platform for designers or artists all over the world to use their talents, and we are very looking forward to working with better companies in the near future. Integrate each other’s resources and jointly promote the NFT market.”