openPR Logo
Press release

NFTs - What are They, and How Can You Get Into this Space?

10-05-2020 03:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: KingSwap

NFTs - What are They, and How Can You Get Into this Space?

NFTs - What are They, and How Can You Get Into this Space?

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 collectibles, and buying these cards does not give them any right against the manufacturers of the collectibles.

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.

JOIN US!
KingSwap Website: Kingswap.io
Discord: https://discord.gg/fD2DrJY
Telegram group: https://t.me/kingswap
Twitter: https://twitter.com/defi_kingswap
GitHub: https://github.com/KingLuigy/KingSwap
Youtube: https://youtube.com/channel/UCAHiU9LLE3cDauSfTWIB97Q
Reddit: https://www.reddit.com/user/Defi_KingSwap
Instagram: https://www.instagram.com/defi_kingswap
Facebook: https://www.facebook.com/King-Swap-112444093946760
Linkedin: https://www.linkedin.com/company/kingswap

FINAL NOTES:
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.

THE TAKEAWAY:
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.

Singapore Land Tower, 50 Raffles Place

KingSwap is the newest decentralized finance (DeFi) liquidity pool platform that is a further and better evolution of UniSwap.

In addition to offering off-ramp fiat currency converting solutions to allow users great convenience between the fiat and cryptocurrency worlds.KingSwap has also added some new Blockchain community-oriented features to the Uniswap's core design, which will help the offering to boom💥 and provide user-friendly real-time benefits in terms of price curves and contributor rewards.
Our protocol design offers to align incentives for the users by introducing strategies like pool rewards & network effects.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release NFTs - What are They, and How Can You Get Into this Space? here

News-ID: 2149344 • Views:

More Releases for King

Cotton Candy Market to See Huge Growth from 2025 to 2032 | Floss King, Paragon, …
HTF MI just unveiled Global Cotton Candy Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2025-2032). The market Study is segmented by key a region that is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are Gold Medal Products, Concession Supplies, Nostalgia Electrics, Paragon, Benchmark
08-29-2024 | Arts & Culture
Getnews
JP Junk Removal King of Prussia, Expands Services in King of Prussia
Image: https://www.getnews.info/wp-content/uploads/2024/08/1724868434.jpeg JP Junk Removal King of Prussia, a leading provider of comprehensive junk removal services, is excited to announce its expanded range of services in the King of Prussia area. As the go-to solution for clutter and waste management, JP Junk Removal King of Prussia is now offering enhanced Junk Removal King of Prussia services designed to meet the diverse needs of residents and businesses. King of Prussia, PA -
Waste King announces headquarters’ move
Waste King - a specialist collections, clearance and recycling company that focuses on providing a service which is highly environmentally friendly – is moving its headquarters from the Frogmore Industrial Estate at Two Waters, Hemel Hempstead, to the Old Ministry Airfield, in Cheddington. Waste King’s Operations Director, Andy Cattigan, explained: “For some time, Waste King has been experiencing a steady and continual increase in its customer base. With this has
Waste King rescues threatened snakes
Waste King, the specialist collections, clearance and recycling company, is becoming used to rescuing distressed livestock as part of its day-to-day activities. It has now added two grass snakes to its list which began, in August 2011, with ‘Colin’ a Giant African Land Snail. In the last few weeks, while helping a Watford-based customer clear garden rubbish, Waste King’s operatives came across two grass snakes – which had chosen to hibernate
Quality Content is King
Content is king” has been for years the mantra for getting rankings in Google and other search engines. For many SEO consultants, it was the cornerstone of their whole SEO campaign. The belief is that the more content a website has, brighter the chances of ranking high in search engine results. Another spinoff of this theory was that companies not only started putting up large number of pages on their
Waste King recycles for charities
The specialist collections, clearance and recycling company, Waste King, has teamed up with the British Heart Foundation (BHF) and the Salvation Army in order to help other people’s waste materials benefit those in need. A few months ago, Waste King installed a recycling point for clothes and shoes at its premises in the Frogmore Industrial Estate in Hemel Hempstead – along with a BHF ‘book bank’, for used books. According to the