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Why I am bullish on $MUSE @NiftyMuseum
? ELI5 here.
$MUSE is a protocol that can issue ERC20 tokens corresponding to NFTs deposited in the platform. ("XXX20" such as "MASK20" if you deposit @TheHashmasks
)
But How can we mint XXX20 on $MUSE and how can we do with XXX20?
Why I am bullish on $MUSE @NiftyMuseum
? ELI5 here.
$MUSE is a protocol that can issue ERC20 tokens corresponding to NFTs deposited in the platform. ("XXX20" such as "MASK20" if you deposit @TheHashmasks
)
But How can we mint XXX20 on $MUSE and how can we do with XXX20?
2
Along with minting XXX20 by depositing NFTs, we all can buy XXX20 from Uniswap.
After that,
(1) you can swap XXX20 tokens for a new NFT (eg, if you have 100 MASK20 tokens, you can swap with one @TheHashmasks
NFT)
(2)Provide XXX20/ETH liquidity on uniswap to earn $MUSE
Along with minting XXX20 by depositing NFTs, we all can buy XXX20 from Uniswap.
After that,
(1) you can swap XXX20 tokens for a new NFT (eg, if you have 100 MASK20 tokens, you can swap with one @TheHashmasks
NFT)
(2)Provide XXX20/ETH liquidity on uniswap to earn $MUSE
3
(3)Hodl or sell XXX20 on uniswap for $$$.
In (1), you can choose what NFT you want to swap with your XXX20 because NFTs deposited in $MUSE are pooled, and you can see what NFTs are available for swap in advance in @opensea
(3)Hodl or sell XXX20 on uniswap for $$$.
In (1), you can choose what NFT you want to swap with your XXX20 because NFTs deposited in $MUSE are pooled, and you can see what NFTs are available for swap in advance in @opensea
4
What if your NFT is rarer than NFTs in the pool? In that case, you can create a dutch-auction on $MUSE as attached. More XXX20 will be required to buy your rare NFT.
What if your NFT is rarer than NFTs in the pool? In that case, you can create a dutch-auction on $MUSE as attached. More XXX20 will be required to buy your rare NFT.
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So, $MUSE
(1) provides liquidity for NFT oweners
(2) creates a floor price of corresponding NFTs
(3) works as an arbitrage platform (eg, you can buy a NFT on opensea which is cheaper than XXX20 price, mint XXX20 by depositing the NFT, and sell XXX20 on uniswap)
So, $MUSE
(1) provides liquidity for NFT oweners
(2) creates a floor price of corresponding NFTs
(3) works as an arbitrage platform (eg, you can buy a NFT on opensea which is cheaper than XXX20 price, mint XXX20 by depositing the NFT, and sell XXX20 on uniswap)
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(4) provides incentive to provide liquidity on uniswap so that $MUSE platform can work as designed (ie, if you don't have liquidity on uniswap, you cannot sell your XXX20. but providing $MUSE farming opportunities, TVL is increasing day by day)
(4) provides incentive to provide liquidity on uniswap so that $MUSE platform can work as designed (ie, if you don't have liquidity on uniswap, you cannot sell your XXX20. but providing $MUSE farming opportunities, TVL is increasing day by day)
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(5) can be used as a fund raising platform ( https://twitter.com/dontdrinkkool/status/1361443683451744263)
(6) NFT swap is also so hot ( https://twitter.com/vasa_develop/status/1359845910818086914)
Lots of NFT projects are integrated in $MUSE already such as $DOKI $NDR $MEME. More will come.
(5) can be used as a fund raising platform ( https://twitter.com/dontdrinkkool/status/1361443683451744263)
(6) NFT swap is also so hot ( https://twitter.com/vasa_develop/status/1359845910818086914)
Lots of NFT projects are integrated in $MUSE already such as $DOKI $NDR $MEME. More will come.
8
The total supply is around 510,000. The current price is $30 (FDV is $15M).
The price has significantly increased from the bottom, but that does not mean the current price is the top. Given growing interest in NFTs, $MUSE will be a very unique, major player in this field.
The total supply is around 510,000. The current price is $30 (FDV is $15M).
The price has significantly increased from the bottom, but that does not mean the current price is the top. Given growing interest in NFTs, $MUSE will be a very unique, major player in this field.
9
Another bullish point for me is one of $MUSE developers is Japanese
@jdourlens
Japanese investors are coming in too.
I hope $MUSE will get attentions more and more and would want you guys to know how innovative $MUSE is and how $MUSE keeps innovating NFT field daily!
Another bullish point for me is one of $MUSE developers is Japanese
@jdourlensJapanese investors are coming in too.
I hope $MUSE will get attentions more and more and would want you guys to know how innovative $MUSE is and how $MUSE keeps innovating NFT field daily!
