|[October 06, 2020]|
Singapore, Oct. 06, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) NFTs are Non-Fungible Tokens, and are getting increasingly popular as they can be used to tokenize practically anything that can be made distinct. Applications such as tokenizing real estate, shares in a company, educational certificates, unique and special items in games, paintings, songs, diamonds, identity, voting, loyalty programs, provenance in supply chain, financial documents such as invoices, bills etc, are why people are increasingly looking at NFTs as the next big thing in blockchain implementation.
NFTs are distinct from Fungible Tokens, which are tokens that are indistinguishable from each other – meaning that if you exchange a bar of gold with another, or a dollar bill for another, or a bag of sugar for another bag of sugar of the same weight and quality, these are Fungible and easily replaced and unidentifiable from each other. Fungible Tokens are also divisible but NFTs are not.
Some Other Types of Blockchain/Crypto Tokens
Simply put, Utility Tokens provide a function such as a reward or voucher that entitles the holder to some service or product that is supplied by the issuer of the utility token.
Security Tokens represent ownership of an asset and provide rights to the holders of Security Tokens that are akin to securities, such as voting rights, dividends, economic rights, etc.
Many jurisdictions also treat Utility Tokens similarly to Payment Tokens, as long as they can be used as a medium of exchange, meaning that Payment Tokens (like how Singapore treats utility and payment tokens as Digital Payment Tokens) can act as a store of value and medium of exchange such as Bitcoin and Ethereum.
How are NFTs Differentiated?
NFTs usually do not grant the token holder any entitlements against the issuer, as a typical case is a unique Baseball card or Pokemon or Magic the Gathering Trading Card – buyers and holders simply purchase NFTs as collectables, and buying these cards do not give them any right against the manufacturers of the collectables.
Innovative ways of utilizing NFTs are now coming to market – one of the ways for the community to benefit from buying NFTs is being offered by the Kingswap Project, which is issuing 3 NFT tiers – their King Vamp, Queen Sparkle, and Knight Lancelot NFTs.
Buyers of these 3 types of NFTs of the Kingswap project can enjoy loyalty rewards from the $KING tokens being issued by the Kingswap project. This allows the purchasers to enjoy similar benefits to the early users of the very popular Uniswap project, which gave an airdrop of 400 UNI tokens to all their users from before 1 September 2020, which was a huge bonus payout to their early supporters (approximately USD 1200 worth of rewards for free at the initial issue price of USD 2,90 per UNI token when distributed).
Buyers of the Kingswap project’s King Vamp NFTs would enjoy the top tier (60% of allocations) of rewards issued by the Kingswap project, for both their $KING tokens, as well as any future projects that wish to provide marketing campaign airdrops to promote their new projects launching on the Kingswap Decentralized Exchange.
Queen Sparkle NFT buyers would enjoy mid-tier rewards (30%) from such airdrops, and Knight Lancelot NFT buyers would enjoy basic tier rewards (10% of allocations) from such airdrops. These are some of the most cutting edge and innovative ways that the Kingswap project have come up with to reward their early adopters and loyal community members and supporters through the issuance of NFTs.
1) KingSwap is backed by a credible team and was built to conform to stringent regulatory requirements
2) Users are able to convert their Cryptocurrency to Fiat currency through our OTC portal and they can choose to load their fiat monies into our issued VISA/Unionpay Cards
3) Following the popular UniSwap liquidity pool model to reward the community by providing an avenue for liquidity providers to earn from transaction fees from swappers
4) Early LPs (Liquidity providers) are able to earn “tributes” from Kingswap before migration of the liquidity pools
5) There will be multiple secret airdrops for early supporters who purchase Kingswap NFTs after the launch of KingSwap, and for early liquidity providers and users of the platform..
6) Earn more $KING when you stake your $KING with us! Unlock more benefits for staking more $KING for a longer duration such as 0% King’s Card Transactions fee, Higher rewards earned from staking, and more merchant benefits such as: free spotify, Netflix exclusive member access to airport lounges, access to co-working offices globally, etc.
KingSwap is a new and exciting Decentralized Digital Exchange that challenges the competitive models and protocols of an already successful DeFi protocol – UniSwap. KingSwap is a fork of UniSwap with some new features and the key difference being autonomous community governance.
With content for both beginners and more advanced users, we at KingSwap aim to open new ways to earn $KING in conjunction with the current pools being rewarded. This shall revolutionize the industry and bring benefits to all the involved actors.
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