The Chain logo

Everything You Need to Know About Chair INO

by Sarah Tsai 10 months ago in blockchain
Report Story

Introduction to Chair Initial NFT Offering

The whitelist registration for Chair INO is currently in progress. This registration is mandatory to participate in Chair INO. First come, first served.

What makes INO different?

INO (Initial NFT Offering) turns the locked-up shares into NFTs.

It perfectly solves the issue that investors cannot trade their locked-up tokens while the price goes up.

As we all know, the vast majority of blockchain projects have a locked-up mechanism. The biggest advantage of this mechanism is that the small amount of currency released in the early stage will play an important role in the rise of coin price. Due to the rapid changes in the blockchain market, investors hope to sell the coins they hold at the highest price to maximize their returns, which is difficult to achieve as most coins are locked-up.

Now Chair INO participants will obtain a “Rights & Benefits NFT”. For Chair INO, the locked-up period is 15 months and they are to be released for six times over 5 quarters. Only 5% is released for the first time on DEX listing. The other 95% will be released in 5 quarters evenly. This can ensure that the amount of currency released in the early period is very small, resulting in a very promising price. If the currency price increases by 20 times at this time, the user only needs to sell 5% of the unlocked to recoup the cost. The remaining locked 95% can be tokenized into an NFT. At this time, the user can choose to continue holding and waiting coins contained in the NFT to be unlocked or trade the NFT through the Chair platform.

Is this everything about INO?

Of course not.

Ever since the very beginning, artists transfer the ownership of their works completed with great effort instantly they sell them and they cannot generate more profits from the works any more. No matter how expensive a piece of work becomes and how many times it is traded in the future, nothing will go to the artist himself.

Nevertheless, Chair INO participants can trade these NFTs of their own at customized prices with royalties of 2%. After that, they will receive proceeds equivalent to 2% of every future transaction no matter how many times the NFTs are traded and on which platform. In other words, in the next 5 quarters (15 months), every time this Rights & Benefits NFT is traded, INO participants will receive an extra income automatically with the help of smart contracts. Thus, they will enjoy continuous benefits.

Chair INO is providing more choices for the users and better liquidity for the market, which is unique in the entire blockchain industry and the first of its kind. Users might choose to keep their assets locked or monetize them as they wish.

It is possible that INO will be applied to larger ecosystems and activate the whole crypto market.

Why should you join CHAIR, the decentralized trading platform for Rights & Benefits NFTs

The cryptocurrency market is currently in the midst of a bull run, so a long lock-up period is not in favor of investors. The innovation of INO perfectly solves the issue for it optimizes the circulation of locked assets. For instance, 5% of the locked portion is released in the first quarter and the price of BNCH is expected to soar by at least 20 times. If an investor sells the unlocked portion, his investment is recouped immediately. The rest of the locked portion can be tokenized into an NFT. Then the investor can trade the NFT on CHAIR platform at a price three or five times higher than the initial value to earn the price premium. INO allows locked assets to be freely traded and circulated, which perfectly reflects the core value of the digital economy. How do users participate in CHAIR For KOLs: Relying on the founding team’s high-quality resources, not only can KOLs monetize their rights and benefits fast, but also they can receive continuous royalties by creating their personal NFTs and selling them on CHAIR. For KOL fans: KOL fans can trade NFT on the CHAIR platform. NFT liquidity providers will receive platform rewards. NFT holders can also speculate on future price increases and resell the NFT at a higher price to earn the price premium. Participation in NFT auctions: Unsuccessful bidders will receive an auction dividend. Successful bidders will receive the platform rewards. Participation in mining: Users can take part in liquidity mining, PoW mining and single-token locked position mining to earn platform mining rewards. BYP (Build Your Planet) program is estimated to be launched in CHAIR 3.0 in September, 2021. Please refer to CHAIR NFT White Paper for details. The low entry barrier to CHAIR almost allows everyone to participate in this NFT project, which is not common in the industry.

blockchain

About the author

Sarah Tsai

CHAIR is the world's first decentralized trading platform for utility NFTs. CHAIR tokenizes "rights and benefits" into NFTs and establishes a brand new NFT trading system to improve asset liquidity and economic efficiency.  

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2022 Creatd, Inc. All Rights Reserved.