Spores Network: Product Overview
A cross-chain DeFi-powered NFT marketplace defining decentralized pop culture
Spores Network, a creator-focused NFT and DeFi platform.
Built on Cardano, Spores Network is one of the few projects aiming to join this blockchain that will soon release the ALONZO update allowing the use of smart contracts.
Spores users can also mint NFT tokens to represent their creative work, thanks to Cardano Mary Hard Fork (HFC), launched earlier this year.
Cardano positions itself as one of Ethereum’s “killers”, assuming that the DeFi and NFT projects will move away to take advantage of their blockchain network.
As we can see, Spores network is making its debut in the DeFi and NFT markets by integrating Cardano’s infrastructure as the basis for building its platform, from a marketplace to feed value creation by focusing on the skills acquired by the team.
How it works
Spores are building on Cardano a full-stack, blockchain-agnostic NFT-DeFi platform consisting of a seamless NFT marketplace and DeFi facilities space, supported by interoperable cross-chain across multiple major blockchains (Ethereum, BSC, Cardano, Solana, Polkadot, Avalanche, Cosmos), which solves the faced limitations of the NFT industry.
DeFi users can join Spores’ NFT marketplace with gamification of staking, collateral dept positions, farming, and more.
Simply, one can see Spores as a full combination of an NFT minting platform, a marketplace, and a DEX for NFTs.
The foundation team of Spores Network believes that the composition and complementation of NFT and DeFi will bring significant progress for the crypto space, making it more applicable in the real world.
NFTs are creating colossal change in the creative and gaming industries, potentially in many other fields soon.
Benefit for creator & user
If you create an NFT via Spores platform:
- You can easily prove you’re the creator. Proof is distributed on blockchain which is immutable and stored permanently.
- You determine the scarcity.
- You can earn royalties every time it’s sold on Spores marketplace.
- You can sell it on any (other) NFT marketplace or peer-to-peer.
- You’re not locked into any platform and you don’t need anyone to intermediate.
For NFT owners and DeFi traders:
- You can easily prove you own an NFT.
- No one can manipulate it in any way.
- You can sell it on Spores marketplace, and you may earn the original creator resale royalties.
- You can enjoy DeFi gamification on Spores’ DEX with staking, collateral lending, farming, and more, regardless of any underlying blockchain.
A few examples of what the Spores Network can enable:
-Social networks or streaming accounts can be tokenized as an NFT (or semi-NFTs)
-Decentralized autonomous organizations (DAOs) will bring NFTs in exchange for a guarantee that a fair royalty sharing comes to the creators.
-Collaboration with game designers & developers, social media platforms, artwork & celebrity agents to make NFTs more visible on internet users’ profiles, as a way for buyers to show the values they committed.
Difference from existing NFT platforms:
$SPO
How will the SPO token be used?
As the base platform currency, SPO may be utilized to participate in:
-first of all, would allow holders to propose and vote on on-chain governance proposals.
(Voting weight will be calculated in proportion to the tokens staked)
-LP mining
-staking
-usage as collateral lending
-payment of platform fees would entitle a user to discounted fees.
-payment for periodic subscription plans relating to NFTs (exclusive NFT airdrops, collectible rewards and presale access).
Users can Mining SPO & earn SPO tokens by performing beneficial activities such as minting NFTs, staking SPO token, providing liquidity on Spores platform, LP mining on other DEXs.
Release & Allocations
Marketplace for:
Digital Art: the bleeding edge of street, visual effects, and digital fine art.
Gaming: from casual gaming to metaverses bolstered by in-game economies
eSports: celebrating the star athletes of the gaming industry
Animation: from Japanese anime to Disney to comic book titans
Celebrity: hip-hop, rock, pop stars, and film & TV icons
Team
The foundation team of Spores Network believes that the composition and complementation of NFT and DeFi will bring significant progress for the blockchain and crypto space, making it extensively applicable and massively adaptable worldwide.
Spores Founders:
-Duc Luu (Nasdaq IPOed serial entrepreneur),
-Eric Hung Nguyen (former senior investment analyst at a top 10 worldwide hedge fund and blockchain angel investor),
-Paven Do (former blockchain and crypto researcher at HK Applied Science and Tech Research Institute) and a diverse team of advisors across blockchain and entertainment.
3 years RoadMap
2021
Q3 — Launch NFT marketplace
- LP staking and farming
- ERC-1155 implementation
- Testing contract systems on Cardano
- Polygon/Matic layer-2 solution
- Integrating Binance Smart Chain (BSC) Ecosystem
- Crypto & Credit card payment
Q4
- Integrating Cardano Ecosystem
- DeFi gamifing experiment
- Connecting WAX gaming ecosystem
- Multi-currency payment (cryptos & fiats)
- Piloting smart-contract solution for NFT payment on Bitcoin
2022
H1
- NFT-DeFi solutions on Cardano
- DeFi gamification release
- Expanding to Solana, Polkadot
- Integrating cross-chain NFT solutions
H2
- AI assistant & check
- Expanding to Avalanche, Tron
- Lending for NFTs
2023
H1
- Cross-chain atomic swap for NFTs
- Cross-chain payment solution
H2
- SDK/Whitelabel to build NFT storefronts
Consideration
The NFT business is expanding, and there are a lot of new players in the field. Following, the basics and comparisons among Spores’ leading competitors in the NFT world. Spores come when other platforms are already active in the market and take on the challenge of building an ecosystem that can make up for all the shortcomings of other platforms. Even if Spores is in its preliminary stages, you can immediately realize the complex structure but also easy to use for all parties involved. the project will surely be a success thanks to the team working behind it and because it is backed by big investors who have seen the great potential of this amazing project.
-Duc Luu (Spores Founder) recently gave an interview outlining his vision:
“We will launch Asia’s leading NFT marketplace and decentralized funding tools to be the Alibaba and Alipay of the cryptocurrency world. Our marketplace will bring in creative verticals such as digital art, games, animation, celebrities, and eSports.”
Social
web: https://spores.app/
Telegram: https://t.me/sporeseng
Medium: https://spores.medium.com/
Twitter: https://twitter.com/Spores_Network/
