In accordance with official news, Paragon will continue the R&D of supporting more artwork forms. Except for videos and pictures, 3D models, music, game props and other creative products can also be uploaded.
— NBA Top Shot is a big success worldwide, attracting massive participants and arousing wide attention and discussion among communities and social medias. NBA Top Shot is developed by Dapper Labs of CryptoKitties, which is based on NBA digital collection platform on Blockchain. From August 2020 when the public test started to now, people have to wait in lines to buy NFT works of basketball stars on NBA Top Shot. Such fervor can come down to the well-known NBA IP which is the most prominent feature and value.
In fact, the well-established NFT technology on Blockchain is the reason why NBA Top Shot can be well accepted by users. But the main participants are the experienced and wealthy users. The ordinary users cannot afford the expensive packs no matter how much they want the packs of their favorite players and the purchasers will rise the transfer cost due to the high price, which exposes the NFT weakness of inadequate liquidity.
There are many products and artworks alike. The improved asset liquidity will bring breakthroughs to NFT trade. The fragmentation protocol of Paragon is a project that focuses on how to activate NFT liquidity. Since last year, the decentralized team has been attracting developers with the same mind to participate in Paragon, committed to improving trade liquidity for artists and collectors of NFT projects. Through Paragon, users can fragmentize their own NFT works and perform trade and liquidity mining with the built-in swap mechanism.
The fragmentation technology of Paragon can split NFT assets—every unique encrypted artwork into shards. For example, the star NFT pack of LeBron James worth $200,000 are fragmented to 100 pieces and each one is worth $2,000. After fragmentation, the price directly lowers the barriers of participation and improves the liquidity of NFT assets.
In accordance with official news, Paragon will continue the R&D of supporting more artwork forms. Except for videos and pictures, 3D models, music, game props and other creative products can also be uploaded. Paragon’s breakthroughs in NFT ecology will promote more transaction of NFT encrypted assets. Paragon has developed Oracle and Artificial On-Chain Oracle to solve the problem of pricing fragmented NFT assets, making pricing transparent and forming an objective and fair pricing system.
Release ID: 89023789