ShoeFy Announces $3.65 Million Raise For Innovative NFT Platform With Utility Layers
13 Oktober 2021 - 07:43AM
NEWSBTC
ShoeFy, a decentralized project that has combined nonfungible
tokens (NFTs) and fungible tokens (FTs) on one platform to add new
utility layers to NFTs, has announced a $3.65-million round of
fundraising. Investors include DuckDao, MoonWhale, ExNetwork, AU21,
Basics Capital, Dutch Crypto Investors and more. Despite a heavily
oversubscribed private sale, there are still two rounds left with
$800k allocated to the community rounds across multiple Launchpads,
followed by the last $250k for the public rounds. The allocation
will be distributed through a whitelisting of ShoeFy’s website.
ShoeFy is doing two things simultaneously. First, it is diving into
the art world of NFTs with their debut shoe NFT (sNFT). A
collection of 10,000 unique digital shoes are powered by the four
elements to build a decentralized platform where users can generate
passive income in five distinct ways by utilizing FTs and NFTs in
various forms like staking, farming, or adding liquidity. In the
development cycle of the sNFT, they wanted to add more value. So
they came up with additional utility layers that can be added to
NFTs through their DeFi toolset designed for passive income
generation. After their launch, the ShoeFy platform will debut a
new DeFi product, which finally adds some utility to the nascent
NFTs. Unfortunately, NFTs are so nascent that they are missing
solid utility layers and can only be bought, sold, or held. ShoeFy
aims to solve this by providing NFT farming and introducing the NFT
swap or SHOE/sNFT Liquidity Pool (LP),which consists of the
pioneering FT/NFT pairs. Users can earn SHOE tokens from
transaction fees and LP rewards as passive income by providing
liquidity to this pool. The project is led by a team of experienced
blockchain venture capitalists, creative NFT developers and
top-tier marketing experts spanning Europe to Canada and onto South
Korea and Thailand in SE Asia. The team members share common goals
and foresee a huge opportunity in the NFT and DeFi market space. In
terms of their backgrounds, some are founders of creditable venture
capitalist (VC) firms and marketing experts. Other members have
experience in reputable crypto projects and exchanges. Also, they
have a tech team of superior talent building their platform. Michal
Horvath, chief marketing officer at ShoeFy, said: “We are
passionate about art and DeFi, and to be able to combine the two
mediums and come up with a real value for investors is what
innovation is all about. We have forged partnerships with other
projects that have come up with different utilities for the NFT to
add value further and encourage mass adoption. DeFi is growing at
twice the rate of crypto because people want access to better
finance options. The legacy system has let a lot of people down,
and with DeFi technology fueled by art, we can provide value like
never before.” The team plans to use the funds to build the
platform, release the sNFT collection and expand their community.
The project has five distinct ways to generate passive income
through various uses of the SHOE tokens and their sNFTs. ShoeFy
products include the sNFT pool where users can stake sNFTs to earn
SHOE tokens, or users can do conventional staking and stake their
SHOE to earn SHOE. An sNFT farm will allow users to stake SHOE to
farm different classes of sNFTs.. Then, there will be two ways for
users to provide liquidity, the conventional way through
SHOE/Wrapped Ether (WETH) and SHOE/ Tether (USDT) for LP tokens
that can be staked on the platform of your choice. Finally, the
world premiere of the sLPl, where users can stake SHOE/sNFT pairs
to earn SHOE, adding utility to their sNFT so users can generate
passive income with their collectibles. ShoeFy IDO Launch Week The
ShoeFy Community round kicked off yesterday, Oct. 11, starting with
PolkaBridge, where it was sold out in just 3 minutes. In total, the
SHOE initial DEX offering (IDO) is being carried out across seven
different launchpads. Today, ShoeFy had impressive dual IDOs on
Moon Starter and MultiPad. MoonStarter was sold out within the
first 55 seconds and MultiPad was sold out in under 5 seconds of
its round 2. Tomorrow, the third day of IDO will be on two more
launchpads, DuckStarter and KwikStarter. The last day, Oct 14, is
Oxbull and TruePNL. Next week turns up the heat even more with SHOE
on Gate.io Start-Up on Oct 18. Then on Oct 19 at 12:00 PM UTC, a
decentralized exchange (DEX) listing on Uniswap and a centralized
exchange (CEX) listing on Gate.io. Image
by sebagee from Pixabay
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