Road Town, May 08, 2022 (GLOBE NEWSWIRE) — On May 5, 2022, Emerging NFT platform, Spume, announced the ICO of its native $SPUME token on the KuCoin cryptocurrency exchange, making it available for public sale. Let’s find out why Spume is the future of trading digital and physical assets without the mediation of third parties.
Enter Spume – whose vision is the complete removal of all intermediaries who prey on individuals when trading digital and physical goods.
What is Spume?
Spume is an NFT marketplace that replaces the need for intermediaries and their fees with smart contract technology. The platform’s activities cover a wide range of markets, which means that everything from artwork to real estate can be tokenized and sold on the Spume trading platform.
SPUME is a native NFT token of the Spume market, which will be used for operations within the platform, as well as to distribute the proceeds from the sale of NFTs among all token holders.
|Protocol||Zeppelin open ERC20|
Thanks to smart contracts in the Ethereum network, the SPUME token will participate in the automation of transactions by putting aside any intermediary who charges unreasonable service fees. The ultimate goal is to allow users to buy and sell their property with the lowest possible service fees.
On each transaction, Spume receives 2.5%
Instead of charging huge percentages for trades, the NFT Spume marketplace sets a flat 2.5% service fee for all trades. These service fees may be modified by decision of the DAO.
The profit in the form of 2.5% is distributed among the holders of the SPUME token.
All income earned on the Spume trading platform is distributed equally among all SPUME holders. The market team will not charge any additional fees except the fixed 2.5%.
Thus, Spume creates a transparent and entirely community-based market that allows to tokenize and exchange goods with minimal costs for all parties to the transaction without intermediaries, banks or dishonest businessmen.
What can people sell in the Spume Market?
Today, the Spume platform covers three main markets: the real estate market, the NFT art market and the digital intellectual property licensing market. Soon it will be possible to trade other assets since anything in the digital and real world can be tokenized.
Real estate without intermediaries
Spume, which is based on blockchain technology and smart contracts, offers real estate tokenization services that fully automate the escrow process. It helps reduce service charges for property owners and buyers.
The real estate sale process will include 2 steps:
- Tokenization: first a legal audit of the asset, then an NFT “mint”, which will list the descriptive and legal data of the asset, including value audits, reports, images, and even videos. All this will be a kind of “database” of real estate.
- Sale on the market place: The property will be offered for sale in NFT with a pre-established price. During the sale, the price will change depending on market conditions and demand for the good. The buyer of such an NFT becomes the owner of the asset. All legal aspects of the transaction will be fully compliant with US title declaration and transfer laws.
The first main area that the Spume market will focus on is buying and selling residential buildings using Ethereum stablecoins. The market will simplify the transaction from start to finish by automating escrow, minimizing the use of real estate agents and reducing the number of documents confirming ownership.
Additionally, Spume is creating 1) its own stablecoin-based lending service, and 2) the ability to get a real estate-based crypto loan at up to 120% LTV. More information on the tokenization, mortgage, and lending process is contained in the Spume whitepaper.
NFT Artwork Platform
On the NFT Artwork platform, even those with little or no experience creating NFTs will be able to create and sell their digital art without having to replenish their crypto wallet. Spume Marketplace will work with NFT ERC721 and ERC1155 standards.NFT Artwork Marketplace Feature:
- NFT listing for instant buy and auction;
- buy and bid at the NFT auction;
- the possibility of creating collections (NFT under a single contract).
The Spume Marketplace will launch on Ethereum and will combine the best of OpenSea and Looks Rare. Spume smart contracts will be written on Solidity and can be used with any EVM-enabled blockchain, meaning Spume is a true multi-chain platform. Spume will support EVM-enabled blockchains such as Polygon (Ethereum tier 2), Moonbeam (Polkadot blockchain), and Binance Smart Chain.
It will be possible to tokenize music, software and other forms of digital property on the Spume digital licensing platform. Videos, music, ideas, projects and even individual messages: every piece of data can be licensed, standardized and sold. The tokenization of this information is done via NFT, which can then be sold or bought on Spume’s internal market.
As part of the marketplace, users will be able to create a catalog of digital property tokens and their licenses. Thus, interested buyers will be able to purchase all available licenses and confirm their rights to use this property in the blockchain.
Who will benefit from the NFT Spume Marketplace?
Everyone is tired of paying high service fees when selling physical and digital assets. The way Spume is structured aims to target all corners of the cryptocurrency space as we know it today. There is a utility available for every Web3 user built into this device.
Want to join the project now? Spume is currently in the private sale phase, but will soon be available to the public. Click on the link to participate in the project: Spume Sale.
More information about the Spume project can be found here
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