Without a doubt, Non-Fungible Tokens (NFTs) will continue to rise in the coming years, seeing how the market has grown significantly over other areas of the blockchain environment. But as more NFTs reach the ecosystem, it can be confusing and overwhelming even for seasoned investors. SPUME aims to simplify such advancements in blockchain technology and provide token holders with an all-encompassing platform.
SPUME acknowledges that the exchange of goods and services has truly evolved along with the advancements in technology, but emphasizes that it does not have to be complex at all. They explained that for centuries, monopolized corporations have acted as middlemen for transactions and currency exchange, leaving the people with small dividends in return. SPUME is a platform for the exchange of goods and services in blockchain technology, but the profit will not fill the pockets of monopoly holders. Instead, it is a system built by users for users. Stakeholders have a say in how the decentralized market works and changes over time.
SPUME is officially the first fully decentralized community-owned NFT marketplace on the Ethereum ecosystem. The holder-owned NFT marketplace allows SPUME token holders to share the generated revenue from the platform’s transaction fees. It aims to return the power back to holders, fairly reward community members, and create an inclusive avenue where everyone can buy, sell, trade, and create their own NFTs on multiple blockchains.
“From an educated and strategically analytical outlook, we anticipate global adoption of NFTs by the mainstream population – including those who currently lack knowledge or involvement in the cryptocurrency industry,” shared SPUME in its whitepaper. “This widespread adaptation provides the market with a better way to buy, sell, and transfer NFTs.”
Dedicated to communication with interested parties, the team has created accounts on social media platforms like Twitter, TikTok, and Instagram. There is also a Discord server and Telegram group for updates.
Consequently, the Ethereum ecosystem also witnessed exponential growth over the past year, with NFT also contributing heavily to the rise of the platform. Seeing how crowded the cryptocurrency space has been due to the success of NFTs and the Ethereum blockchain, SPUME structured its system to serve everyone in the industry, including creators, investors, and stakeholders. The platform boasts utility for every user who needs to get things done efficiently in Web 3.0.
SPUME will follow OpenSea’s standards when it comes to NFTs–ERC721 and ERC1155. The initial NFT marketplace functionality in the new platform will include NFT listings for both buying and auctioning, buying and bidding NFTs, and creating a collection of NFTs under a single contract.
“Our proposed enhanced categorization design allows for the expansion of the NFT space itself. Everything from music to social justice will benefit. Along with the arts, we aim to bring tokenized utility features to popularity,” shared one of SPUME’s representatives.
Furthermore, SPUME’s tokenomics, hand-crafted by industry experts, contains a total of 100 million tokens, which allows the platform’s market cap to be interpreted easily and understandably. While the token supply is lower than usual compared to other trading platforms, the founders believe that it allows more trading pairs when exchanges take place. The SPUME token is an implementation of Open Zeppelin’s standard ERC20 token with its Snapshot class, allowing the organization to take snapshots of current holders of the tokens at any given moment.
SPUME’s DAO will be governed by a smart contract where the shareholders are the primary decision makers. Shareholders are those who do not work for the DAO but hold any number of SPUME tokens which will also be receiving dividends from marketplace fees.
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