Over the past year, blockchain technology has witnessed a meteoric rise in adoption due to its decentralized system that gives power to the users. One such adoption of this revolutionary technology is its use in Non-fungible tokens (NFTs). However, market analysis reveals that many active NFT trading platforms charge fees an average of 3% and up to 7%.
Although these fees are often the cost of minting, in most instances, it is pocketed by the trading platforms. Thereby casting a shadow of doubt on the decentralized status of the NFT marketplace. To fill this market gap, creators launched SPUME, a genuinely decentralized NFT marketplace, community, and token that will function adequately enough to meet the needs and values of all stakeholders—creators, investors and traders—and allow them to be involved with the formation and creation of new everchanging ideas.
The goal of SPUME is to achieve total decentralization and return the power to the stakeholders, fairly reward community members, and create an all-encompassing platform for users to buy, sell, trade, and create non-fungible tokens on multiple blockchains. “That is what we are building—a decentralized marketplace where exchanges take place, where transaction fees are redistributed to the stakeholders equally and equitably, and where the user base has the power to decide when and how changes take place. This is SPUME,” the creators explained.
The brilliant minds behind the groundbreaking platform aim to adopt a democratic system that gives holders a chance to participate in the decision-making process involving significant updates to the marketplace and additional utilities by voting. In addition, communication channels have been created on social platforms like Twitter, TikTok, and Instagram. Discord and Telegram accounts have also been created to facilitate communication between community members and SPUME’s core team.
As a token, SPUME tokenomics is an ERC20 token with a total supply of 100 million delicately handcrafted by industry and blockchain experts. The token implements Open Zeppelin’s standard ERC20 token, with the addition of their Snapshot class. As explained by the creators, “the low token numbers allow our market cap to be interpreted easily and achieved more understandably. Furthermore, having the supply of Spume tokens be relatively low will help the community’s holders value their anticipated profit sharing and yields in a more relatable way.”
SPUME is currently conducting a private sale that accounts for 15% of the total token supply. Furthermore, the proposed enhanced design of the NFT space will be truly revolutionary, unlike anything seen in the sector before. With SPUME, NFTs will be instantly ready buying, auctioning, buying and bidding on auctioned NFTs and the ability to create collections (NFTs under a single contract). It will also include tokenized utility such as medical cards, carbon credits, land deeds and other documentation of the sort while doubling as an NFT design and generation studio where users can create and design any 2D or 3D NFT.
As it moves forward, SPUME remains steadfast on its mission to establish true decentralization, as seen in its mission statement. “The goal of Spume is to return the power to the holders, fairly reward community members, and create an all-encompassing platform for users to buy, sell, trade, and create non-fungible tokens on multiple blockchains.”