Â© Reuters. Griffin Art launches the full version of its NFT marketplace and the demo version of Land Mobile Game
Griffin Art, a TechRate-audited GameFi platform, is set to release the full version of its NFT Marketplace and the demo version of the Griffin Land mobile game, a recent update reveals.
Griffin Art NFT Marketplace and Land Play
On September 21, the team announced its intention to explore the expanding NFT space by releasing the first iteration of its marketplace on the scalable and interoperable Binance Smart Chain (BSC).
According to the team, the platform will allow creators to showcase their mint art and NFTs while simultaneously collecting governance tokens for community improvements.
Notably, the Griffin Art NFT Marketplace will integrate with their mobile games. The first game slated for launch is Griffin Land.
The 3D game merged with a game model to win (P2E) is based on mythological themes. It includes over ten uniquely rendered creatures for players to fight.
Since Griffin Art games integrate with the platform’s NFT marketplace, it will be possible for players to trade NFTs directly in-game.
GART’s deflationary token
At the heart of Griffin Art is the BSC-compliant GART token.
The deflationary token will integrate with Griffin Land and prime the NFT market. This will be the primary vehicle when trading or hitting NFT and will also allow users to earn more in-game tokens.
In addition to its usefulness, holders of GART can also access other products created by the developer.
Unlike fungible tokens, NFTs are unique and cannot be exchanged for another. However, their existence on the distributed chain means that they can be tracked like any other token, ensuring transparency and other attributes only unique to the blockchain.
In addition, NFT holders are assured of ownership as all minted assets are approved by the creator, further backed up by immutable records on the channel.
The Griffin Art team takes advantage of the BSC chain due to its low cost environment, expanding ecosystem, and high scalability, a distinguishing feature that saves NFT editors and collectors high fees at the format.
These features synchronize with the overall design goals of the team. Their main priority was to launch from a decentralized and universal network while guaranteeing the fluidity and profitability of the products.
GART Tokenomics, Burn and Buy-Back programs
In total, there are 100 billion GART tokens, of which 35 billion have been permanently locked. In addition, an additional 16 billion was burned, bringing the total supply to 48 billion GART tokens.
Apart from the initial burn, Griffin Art has a buyback program. They will use seven percent of the transaction fee to perpetually redeem the token at the market rate before burning it.
According to the team, this feature will gradually reduce the total supply of GART, subsequently supporting prices in the long run, resulting in capital gains for token holders.
Additionally, Griffin Art has a redistributive function. It will see them take 2% off the transaction fee and redistribute it to token holders.
As such, the number of GART tokens is expected to increase along with the number of trades in the long run.
From the GART 48 billion, tokens were distributed for public investment – private sales and presales -, for the provision of liquidity on PancakeSwap, the team, marketing, continued development of projects, etc. Besides listing on the largest decentralized exchange on BSC, PancakeSwap, the token is available for trading on Lbank.
At the same time, token holders and analysts can track the performance of the GART token on major coin tracking platforms, CoinMarketCap (CMC) – a portal owned by Binance – and Coingecko.
Continue reading on BTC Peers