By description, NFTs like Kingswap are Non-Fungible Tokens. They are becoming increasingly popular since they can tokenize anything and everything that can be made distinct. They can tokenize educational certificates, real estate, shares in a company, songs, paintings, special and unique items in games identity, loyalty programs, voting, diamonds, financial documents, invoices, provenance in the supply chain, bills, and much more.

These are the reasons why many people are increasingly looking at NFTs as the next big thing in blockchain implementation. NFTs are different from Fungible Tokens which are indistinguishable from one another.

It means that if you exchange a gold bar with another or a dollar bill with another, they are Fungible and readily replaceable and unidentifiable from one another. Fungible Tokens are divisible while the NFTs are not.

Other Types Of Crypto/Blockchain Tokens

Utility tokens offer a function like a reward or a voucher that entitles the holder to some type of service or product that is supplied by the utility token issuer. On the other hand, Security Tokens represent ownership of an asset and offer rights to their holders that are linked to securities like dividends, voting rights, economic rights, and much more.

Most jurisdictions around the world treat Utility Tokens as Payment Tokens provided that they can be used as a medium of exchange. Thus, Payment Tokens, just like Singapore treats payment and utility tokens as Digital Payment Tokens, can work as a store of value, and an efficient medium of exchange like Ethereum and Bitcoin.

How To Differentiate NFTs

NFTs never grant the token holder any form of entitlement against the issuer, as it is normally the case with a unique Pokemon or Magic the Gathering Trading Card or Baseball card. The buyers and holders just acquire NFTs as collectibles and acquiring these cards give them no rights against the manufacturers of the collectibles.

Innovative ways of using NFTs are now entering the market. One way for the community to gain from purchasing NFTs is getting offered the Kingswap Project. The project is issuing 3 NFT tiers which include their Queen Sparkle, King Vamp, and Knight Lancelot NFTs.

The buyers of these three types of NFTs of the Kingswap project can get loyalty rewards from the $KING tokens being issued by the Kingswap project. This enables the buyers to enjoy similar benefits to the early users of this Uniswap project.

It gave an airdrop of 400 UNI tokens to all users from before September 1, 2020. That was a big bonus payout for their early adopters. That was around $1,200 worth of rewards for free at the first issue price of $2.90 per UNI token when they were distributed.

What Are KINGSWAP NFTs And How Do They Work? 1

King Vamp NFTs buyers would enjoy the top tier 60% of the rewards issued by the Kingswap project for their $KING tokens and any future projects that want to offer marketing campaign airdrops to promote their new projects powered by the Kingswap Decentralized Exchange.

The Queen Sparkle NFT buyers would enjoy the mid-tier 30% of the rewards from such airdrops, and the Knight Lancelot NFT buyers can enjoy the basic tier 10% of the rewards allocated from such airdrops.

These are some of the most interesting ways in which the Kingswap project is rewarding its early adopters and loyal community members and their committed supporters via NFTs issuance.

How It Operates

KingSwap is operated by a credible and experienced team and was design to conform to stringent regulatory needs. Users can convert their crypto to fiat currency via their OTC portal and they can load fiat money into the company’s issued VISA/Unionpay Cards. They follow the popular Uniswap liquidity pool model to reward their community offering an avenue for all liquidity providers to earn from transaction fees from swappers.

What Are KINGSWAP NFTs And How Do They Work? 2

Early Liquidity providers, LPs, can earn ‘tributes’ from Kingswap before any migration of the liquidity pools. The early supporters who buy Kingswap NFTs will be offered multiple secret airdrops after the launch of KingSwap. The early liquidity providers and users of the platform will also participate in these secret airdrops.

Users can unlock more benefits for staking more $KING tokens for longer periods like Higher rewards earned from staking, 0% King’s Card Transactions fee, and extra merchant benefits. These benefits include Netflix exclusive member access to airport lounges, free Spotify, and access to co-working offices worldwide.

Summary

KingSwap s an exciting and new Decentralized Digital Exchange which challenges the competitive models and protocols of a successful Defi protocol, UniSwap. KingSwap is a fork of UniSwap that has new features with the main difference being autonomous community governance.

Content is available for the more advanced users and beginners with KingSwap aiming to open the new ways to earn $KING together with the current pools being rewarded. That shall revolutionize the industry and bring many benefits to all the involved actors.

About the author

Wanguba Muriuki is an Editor at Large for E-Crypto News and author of the book- "The Exploitative Intrigues of Cryptocurrency Scams Explained." He is also a passionate creator who sees every aspect of life from a written perspective. He loves Blockchain, Cryptocurrency, Technology, and Traveling. He is a widely experienced creative and technical writer. Everything and everyone is describable. The best description is written.

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USD Coin1.000 0.14 % 0.20 % 0.17 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2215 0.68 % 1.42 % 7.23 %

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