SCV Finance - An NFT Marketplace Built to Last

The asset-tracking protocol’s latest release seeks to bring innovation into one of the sector’s hottest trends.

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BSCNews
on
June 30, 2021
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BSC News

What is SCV Finance?

SCV Finance is a collection of DeFi products and tools operating across multiple chains. SCV stands for “Super CoinView”, hinting at their base product. SCV Finance users can easily monitor their assets calculating APYs in real-time and check for impermanent loss. The team’s latest exciting offering is a user-friendly Non-Fungible Token (NFT) marketplace, which aims to distinguish itself from its competitors with a set of unique features.

The sleek SCV UI

Assets that can be monitored on the SCV platform include Liquidity Pool (LP) and yield distribution. Besides monitoring assets and how they are performing, SCV also offers staking and yield farming opportunities. SCV has interwoven NFTs into these opportunities in order to boost returns. The APR offered on their SCV-BNB LP is at a whopping 489% as of writing, with rare NFTs boosting those numbers to 4890%. 

Staking and farming


Here to Make an Impression

SCV Finance wants users to know they’re not another carbon copy DeFi project only here to make quick cash in on the DeFi bandwagon. The company is seeking to create something different, to make an impression and stand out from the crowd. That much is clear from the moment you arrive on the company homepage which confidently declares, “Not Another DeFi”. 

With the launch of their NFT Marketplace, SCV.Finance is now seeking to demonstrate precisely what it is that makes them unique. 

SCV NFT Marketplace

The first thing users will notice about the SCV NFT Marketplace is that it has an appealing aesthetic, a major focus in any tool the company produces. Beyond the cosmetic appearance of the marketplace, SCV has integrated a number of features you won’t find on many other marketplaces. Most notably, the SCV market is a secondary market. Currently most NFT marketplaces are primary markets, meaning they are for initial listings of NFTs. A secondary market is where users can list NFTs they have purchased for resale. Many secondary markets are focused around high-value NFTs and have restrictions for what can be listed. The SCV marketplace aims to change that, allowing virtually any NFT to be listed for resale on their platform.

At the most basic level SCV NFT is a Binance Smart Chain marketplace that accepts all BEP721 NFTs. For non-technical readers, BEP721 is the token standard that applies to non-fungible tokens on BSC. Since SCV has configured the market to integrate easily with BSC purchases are made in BNB with trading fees determined by the amount of SCV tokens that the purchaser has staked.

The cost of trading varies depending on the SCV staked

The market dispenses with the fairly common requirement of whitelisting which allows users to swiftly begin trading on the platform. In fact, new NFTs can be bought and sold on the market immediately, saving valuable time for all participants.

To sell an NFT, users simply need to visit their NFT Portfolio and add the contract of the NFT in question. Once the NFT is displayed on the portfolio page, simply click the “sell” button and NFT goes on the market.

The SCV NFT marketplace is designed for people who love to make deals, making it possible for buy offers to be placed on any NFT - even if it is not currently listed for sale. As long as the buyer has all relevant information including the Contract Address and ID of the NFT, a buy offer can be made. Furthermore, buy offers can be used to negotiate the price of an NFT already on the market, making the bidding process as flexible as possible. This flexibility is what makes their secondary market so unique, allowing users to buy or sell whatever NFT they want, regardless of availability or value.

Blind Boxes

The SCV NFT market ensures that ‘blind box’ data is accurate and up to the minute.  While other markets have ongoing issues with incorrect data for blind boxes on SCV Bot NFTs, the synching process which the SCV NFT marketplace uses eradicates this problem. According to their launch announcement, each SCV NFT for sale on the market will be displayed with an accurate blind box status, APY boost numbers, rarity, and more.

Gatcha

Gatcha is the mascot of the SCV, a blocky-but-cute little robot creature, or SCV bot. Gatcha has also been the focus of an NFT program the company has conceptualized called the Initial NFT Offering. The Initial NFT Offering (INO) at SCV is similar to a blind or mystery box event with the opportunity to receive a highly-valuable NFT. 

In the first INO, a total of 10,000 SCV NFT Gatcha Bots are for sale through 7 phases of the sale. Boxes not sold during each phase are burned. There are 5 levels of rarity for the bots: common, uncommon, rare, epic, and legendary. Each bot has a corresponding APY boost: none, 2x, 3x, 5x, and 10x.

Thanks to the 10x properties of the legendary NFT, a person can vastly improve their returns from staking. So while a typical user who stakes 10,000 SCV might expect to receive 0.1 BNB a day, a legendary NFT user would receive 1 BNB.

Phase one of the INO was in May, phase two launched in June. That means there are still at least 5 phases of the initial NFT offering to come with some of the rarest NFTs yet to drop.

Continuous Innovation

In order to live up to their claim of being a little different, SCV Finance seeks to continuously innovate.  As part of that innovation standard, the company has created a process of dismantling NFTs for resources called ‘minerals’ and then crafting them back into NFTs. The processes for this are randomized, but rare NFTs have a greater chance of crafting rare minerals.

SCV Finance hopes that this system will allow more people to own super rare NFTs, spreading the APY benefits to a greater number of users.

To learn more about SCV Finance, visit their social media links.

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