• Tue. Jun 18th, 2024

WallFair Announces the Next Phase in Development, Powered by Polygon

BERLIN, Germany, Aug. 16, 2021 (GLOBE NEWSWIRE) — WallFair teams up with Polygon to announce the launch of their MVP 1.1, platform and a completely new way for streamers to maximise value through content creation. Following the success of WallFair’s proof of concept event, the team have begun to refine the focus of the project in a way that favours the creator economy and moves towards the highly emerging social in-game token model.

Phase one of product development saw the Wallfair team host a live event special by giving those first round testers the ability to highlight issues and potential feature aspects of the platform. Armed with this invaluable user data, the team began moving towards shaping and creating what the platform could look like on a deeper level and will now begin test-net development on Polygon while diversifying the suite of features that will be available to platform users.

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Wallfair have positioned themselves as a social event trading ecosystem that democratizes the creative economy. This not only incentivizes content creators to provide high-paced and engaging content on the platform but it also gives their communities more ways to show support to their favourite creators, as well as being able to speculate in real-time on live events using in-game tokens. A heavy focus is now on the creation of socially engaging, high-energy and immersive experiences, and Wallfair takes engaging in live events to the next level by enabling the audience to seamlessly create, trade and profit from speculative events.

Wallfair now sets its sights on a highly anticipated fundraising round as well as developing partnerships with prominent esports, crypto and blockchain partners and influencers to develop a powerful ecosystem that gives streamers, esports teams and special event creators more options to further monetize and incentivize community speculation on the content they create.

The project will also partner with players in the NFT and DeFi spaces, offering a true multi-chain future of solutions to platform users as well as incorporating NFTs into their own mechanics to incentivise content creators and players to reward engagement in the community and ensure the ongoing participation in a variety of events – 24/7 mini-games, 3rd Party Live Streams and Wallfair Special Events – all geared towards providing the ultimate entertainment experience for front-end users.

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By bringing NFT partnership options onto the platform, users and creators will be able to buy exclusive, scarce, mintable NFT Season Passes, with highly customizable avatar perks as well as reduced fees and many more bonuses. Creators will be able to mint certain moments in their event and offer tradable NFTs as rewards to the event participants. WallFair aims to expand on this opportunity by partnering with top tier NFT platforms such as Red Bull’s Tezos Marketplace.

The WallFair ecosystem will be built on the Polygon Network. This decision was taken in order to lay the foundation for mass-adoption, by reducing gas fees for users as well as providing a faster transaction time. The Polygon Network is said to be able to process up to 65,000 transactions per second and offers layer-2 scalability, ensuring that platform users not only get the best value when buying onto the platform but the high transaction rate means that real-time speculation on live events becomes a safer and faster possibility.

Wallfair’s ecosystem will be powered by EVNT token, a stacked utility token that is carefully designed to effectively capture the value growth in the Wallfair ecosystem. The EVNT token will be required for all key functionality on the platform including, Event Creation, Event Trading, NFT minting/Marketplace, Liquidity Provisioning, Governance and Staking. By ensuring that the EVNT token is a core pillar of the ecosystem, and by integrating critical functionality into the model, a strong case for continuous demand is presented.

Media Contact

Company: WallFair

Contact: Christopher Marley, CMO

E-mail: [email protected]

Website: https://www.wallfair.io

Instagram: https://www.instagram.com/wallfair.io/?hl=en

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.