Over the last couple of years, the crypto world has experienced some record-breaking growth rates, as is reflected by the many independent blockchains that have been released to the public, with so many more to come. This is a real long shot if put in contrast with the industry back in say, 2011, when the technology was still in its infancy, a time when public criticism was still prevalent.
Still, many had already begun to notice the benefits that came with the then major crypto, BTC, which it still is by the way. This was seen by the development and establishment of the early derivative networks, the likes of Litecoin and Ethereum. That said, the Ethereum network spearheaded the ideology on which platforms like Nafter base their services.
This is the ideology of the so-called NFTs, the now-famous digital assets that millions of crypto traders and investors are trying to get hold of. To understand more regarding this, we need to take a more in-depth look at Nafter itself, as well as the story behind the NFTs.
What is Nafter
Nafter is a crypto-related online platform highly regarded by traders and investors all around the world for being the first facilitator of NFT development and uploading. Simply put, it is more of a social-based service provider, one that enables users to profit from the booming blockchain asset trade, assisting them in the creation of NFTs from simple photos, documents, or graphic developments.
For the sake of those who are unfamiliar with the industry as a whole, the phrase ‘NFT’ is short for Non-Fungible Token. It is used to describe the virtual assets that are circulated over the famed blockchain networks. These assets can be developed from simple pictures, conversions from text documents, or even high-tech projects.
However, the image itself is not the NFT, rather the digital footnote of authenticity attached to the document is. This is simply because the Internet will always be the Internet, where photos and documents can always be copied and mass distributed. NFTs are circulated over the blockchain networks on which they were developed, where the Ethereum blockchain currently holds the most of these.
Weirdly, NFTs can reach extremely high values, the aspect that makes them the lucrative business they are. It all starts from the initial bid, then the value continuously increases as more people find it appealing and circulate it around. To date, the most expensive NFT tokens have sold for a whopping $1 million-plus!
Key Features
As stated above, Nafter makes use of its own coveted currency system, the NAFT token. This token enables all in-platform transactions, and can later be stored as it is, or traded in for real-world money.
The platform also features an in-built minting service, that facilitates the initial conversion of photographs into NFTs. This comes with another bidding feature, which allows users to purchase the newly created assets.
That said, one feature tends to stand out among the rest, this being the Ambassador program, specially made for mass influencers and top content creators. This feature operates by running automatic checks of the most consistent users of the platform, enrolling them for the program.
How does it work?
Nafter enables mass content creators to take advantage of the revered digital asset business and creatively adapt to fan demand, with NFT trade volumes growing and additional use-cases emerging. These influencers may use the platform to turn unforgettable photos into digital artifacts that their followers can buy.
Nafter is specially designed to fully automate the procedure of creating outstanding NFTs from simple snaps and documents, making it all the more convenient. Using the platform’s own native token, users among the fan base can purchase the NFTs at hefty prices.
The token, denoted by $NAFT, has real value, and can then be traded in for another, more reputable crypto coin, or for straight cash in whatever currency of the conventional variety.
History
Well, Nafter’s online presence is a very recent development, having been established in response to the sudden surge in NFT fame and credibility traffic rates. In many cases, their main page does not give any information pertaining to their release date, and neither did the operator provide any heads up prior to its development.
Their ‘history’ better lies in the history of NFT technology, as it had a major impact on the platform. That said, the platform’s development came in rather a quick succession, where they saw a seemingly immediate surge in user traffic levels.
Technology
Anything associated with blockchain technology is bound to be somewhat complicated. Still, the operators of Nafter seem to have made quite an effort to develop their own tech base, that is independent of any of the so-called large-cap networks.
They achieve this by developing their own native token, to come up with a sort of Nafter cryptocurrency. Within the platform, users can circulate the $NAFT token, which is supposedly available for purchase with any traditional currency.
Using the token has its advantages, as will be better elaborated below. All this is accomplished with some assistance, or business partnerships rather, with software and financial firms like Genblock Capital, Valaren Features, Magnus Capital, and Atlas.
Token
As mentioned many times before, the native token makes use of the ticker symbol $NAFT. According to the platform, the total token supply is 1 billion units. That said, the operator does quite well in terms of transparency with the token system, providing a full circulation chat, showing the respective distribution of the overall supply in each of the major operations areas for the platform.
What is the NAFT Token used for?
The Nafter Crypto token is used just like any other native token – as the main unit of governance, meant to give comparable monetary value to any, and all, assets within the network. More specifically, holders of the token can use it to gain access to expensive content data on the platform, provided they have the required quantities.
Likewise, they can use it to filter out which information can be featured on the platform, as well as to place votes for updates from the operator.
How to store NAFT
Frankly, it is not clear as to the availability of the token in major exchanges, neither is it clear on its support by any of the reputable crypto wallets. Still, the token can be placed under storage in its own native network system over the Nafter platform. The Web app seems secure enough, with no major complaints as yet.
Pros
- Automated NFT minting
- Establish customer base
- Fast processing rates
- Support availability on various social platforms
Cons
- Shrouded operator
- New platform with untested reliability standards
Conclusion
From the world go, Nafter stands as a great NFT service provider, with its fun and derivative name. As far as we could see, the platform did not seem to operate under any specific regulatory authority as yet. They still provide a Privacy Policy script and Terms of Service, both of which should be read by anyone looking to make use of their services.
