1MILLION NFT- A RESERVOIR OF NEW OPPORTUNITIES
1MillionNFTs has stepped into the market place out of a crafty imagination offering a creative space where everyone has an opportunity to stake out their place in NFT history. 1MillionNFTs is backed by influential venture capitalists and progressive partners bringing together a pool of fascinating investments for the market. It’s a smart contract based web3 platform built on Ethereum blockchain with 1000 by 1000 pixels grid.
How does this entire concept of 1MILLION NFTs work?
Well, each pixel is an ERC-721 NFT token with its location users will have an opportunity to buy, sell, rent and paint them to create any picture with any link inside. To paint more pixels inside users will need more ERC-20 tokens. This would eventually allow buyers to have their logos on the grid. Optimally sprouting out of the model of decentralization it provides power in the hands of the people that’s the most likeable part of 1MillionNFTs.
Inception and Concept
The idea of 1Million NFT arose from the website titled onemilliondollarhomepage.com back in 2005. Big Companies utilized this opportunity by buying out empty cells and converting them into advertising banners made of tiny squares. Every side of the square field consisted of 1000 pixels, and 1 million cells were put up for sale.
The cardinal issue with this model was that the core creator got benefitted the most and made all money out of it. Then, again on April 1, 2017 Reddit users were given a similar kind of a page offered but in the format of entertainment users could color the squares for free but once in every 5 minutes. The square field sort of turned into a real art gallery but the practical benefits of both projects were absent.
What needs to be taken into consideration is the constant support and interest of the people into these kind of projects, this shows the strength and potential of the idea and project.
Bifurcated into two parts 1Million NFT has two kinds of token the ERC-721 tokens denote the ownership on the blockchain of one pixel on the grid. Followed by this is the ERC-20 tokens, that are used to buy the NFT pixels and paint them to make some pictures on the grid. For the same, buying 1Million NFT becomes imperative.
Convenience and Overall Outlook
The painted NFTs are easy to use, accessible and clearly visible on smart phones. The grid clarity further allows the person who accesses it to locate the link appended with it directing the person to the relevant platform.
It brings together the representatives of multiple companies to showcase their products just by creating unique advertisement banners on the grid.
It also creates a contract base market place where one can buy, sell and rent the ERC-20 and the NFTs with ease in the community.
Substantiating all this, is the Web3 Areawhere wallets like Metamask can be connected providing a suitable dashboard asset management and this space is where one can paint the purchased NFT pixels.
Changing the Fate of the Advertising Industry
These pixels are not just colored boxes that you can buy, sell or rent rather they are capable of carrying any link to any page on the internet. Hence, these pixels allow the advertisers of big companies to curate a distinctive advertisement attracting the users to their products and services. This shall bring a revolution in the advertising and business industry bringing together likeminded entrepreneurs, companies, representatives, corporate houses and new deals.
Imagine bring offered a space to build new relations, advertisements and meet new people through modern technology isn’t this in itself sounding like a very promising endeavour.
People First Model of the Project
Unlike the previous NFTs that were set forth in the market, this model intends to expand its locale and scope to the people. There are cap limits that block the early investors from disposing the tokens on to the general market buyers. This means that they would only be able to color only 10 percent of the top grid represented in green in the above figure that is the strategic top.
Moving on, the time fixed for the same would only be six hours and this in itself will not leave them enough time to purchase ample tokens to be able to paint all of these pixels. This clearly points to the fact that they would have to go to the market and buy more or they would lose the chance to get a decent strategic location on the respectable grid.
This kind of a system allocates enough power in the hands of the general market buyers who would get a good chance to be able to secure their NFTs. All of it empowers the market buyers to climb up to the top places. This all makes it a super lucrative investment with a high potential to impress the market.
Final Verdict: Technology, Community, Investors and Anticipation
Honestly, I see this as a great adventure providing an enriched space to the buyers to indulge in. It is a wonderful blend of technological advancement and human imagination carving in the beauty of buying grids, painting them and loading them with personalized essential information of the respectable company. It also brings in the business community together by letting them identify the relevant grid and link that shall benefit them.
Also, adding a very special feather on this beautiful cap of the project is the endorsement of the renowned VCs and Partners like the Hacking Club and Sky Venture. This further consolidates the space and identity of this project in the market making it more desirable.
Finally, the crowning attribute of decentralization enrobes the project as being one of it’s kind committed to benefitting the investors. Due to all the above mentioned features I believe the project will have a very interesting dimension to add to the market.