Nafter NFT Market Launches With Upgraded Bandwidth but Faces Rush of Users

Nafter received overwhelming traffic, forcing it to migrate to new servers.

By
Chung Yee
on
September 6, 2021
Category:
Blockchain News

NFT Mania 

Nafter continues to feed the Non-Fungible Token (NFT) frenzy as it migrates to new servers for better bandwidth following a successful launch. Nafter branded itself as the first social network and marketplace for creators and fans to buy, mint, and sell NFTs. 

Nafter was overwhelmed by heavy traffic with more than 2,000 contents minted in two hours in a successful launch. Nafter is a project that aspires to turn contents into verifiable assets. It is a platform with a different twist. Nafter aims to allow influencers and creators to mint and sell ‘Content NFTs.’  

“That feeling when NAFT gets so much traffic to its new site that the dev team has no choice but to transfer to new servers,” Nafter tweeted on September 3. “Over 2,000 content NFTs minted in less than 2 hours! Our website will be back live shortly, your NFTs are safe with us 😉 #StayNafty.”

Nafter, through its ambassador program, has attracted influencers, creators, and artists with a combined following of more than 50 million to onboard its platform. The platform is built on Binance Smart Chain and powered by its utility token, $NAFT

Source: Nafter offers some interesting features that exist on other social media platforms, such as tipping and access to private content

Nafter’s Utility Token ($NAFT)

Nafter offers an interesting reward tier for its stakers. There are three pools to stake your $NAFT, and each tier has its minimum stake, and the Annual Percentage Yield (APY) increases with the level. 

  • Fanboy Pool (Minimum stake of 5,000 $NAFT) - 100% APY
  • Influencer Pool (Minimum stake of 50,000 $NAFT) - 150% APY
  • Celebrity Pool (Minimum stake of 250,000 $NAFT) - 200% APY

To help drive $NAFT token adoption, a sale fee will be imposed on BNB/ETH sales. Purchases made using Nafter’s native token will not be charged the 10% sales fee. The fees that were charged will be used to buy back $NAFT tokens and burnt. The current 24 hours trading volume at the time of writing is approximately $12 million, according to CoinMarketCap

What to Expect from Nafter?

Nafter has introduced some innovative features in its new update. In a tweet on September 6, Nafter hinted at a large-scale marketing plan, but no details were released. 

One of the features that the new update has introduced is ‘lazy minting.’ This feature allows for minting at the point of purchase. The creator does not have to pay any gas fee until the NFT is sold. Future updates will include the integration of SafePal wallet and mobile application. 

Source: Nafter’s version 1.1 Update has introduced new features as it primes itself for a large-scale marketing plan.

Another NFT Marketplace?

The current NFT boom has sparked a lot of interest. Platforms offering NFT products and services are growing exponentially, taking advantage of the surge in interest. However, new investors should exercise caution as collectibles are charting exponential growth. The lowest-priced CryptoPunks is selling at 96.11 ETH, which is equivalent to $378,101.55, at the time of writing.

Source: CryptoPunks had sparked off the NFT mania and even managed to attract VISA to purchase one   

NFTs are revolutionary, and it has a lot to offer. However, paying an overly inflated value for pixelated collectibles reflects more on hype rather than value. New projects provide new propositions, and as the market matures, NFT will have an essential role in the crypto industry. NFTs are more than just JPEG files. They can be a real-world solution to digital ownership or to protect intellectual property rights. 

To learn more about Nafter, visit the following links:

Website | Twitter | Telegram | Medium | YouTube

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Chung Yee

Chung Yee has a legal background and has been involved in research works for the legal and compliance industry. Writing is his passion, centered on topics such as the blockchain and finance.

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