The following are the aims stated in DigiRack’s Litepaper, which was issued earlier this week:
“Our objective is to present distinct aspects that will further standardize and secure the process of creating, listing, and auctioning digital works, such as cross-blockchain deals, NFT Bids, Timed Auctions, and individualized creator personas, all of which will be lumped into an easy yet interactive user interface (UI).”
“The group selected Cardano to develop the DigiRack NFT Marketplace due to Cardano’s framework, which utilizes the eUTXO methodology in the context that the UTXO is stretched with an extra script (Smart Contract) that must revert back accurate before the tokens are remitted, transforming the Cardano Blockchain unrivaled in terms of safety.”
Low Fees: With the Cardano Blockchain, DigiRack will have the cheapest fees.
NFT Launchpad: DigiRack will not only be a marketplace for non-fungible tokens, but it will also have native NFT Launchpad, where developers can jumpstart and unveil their non-fungible token ventures with the help of the Cardano society.
Personalised Creator profile: Creators may put up their social network accounts, such as Twitter and Instagram, to allow other users to communicate with them now and then on the DigiRack network.
NFT Staking: Users may choose to stake their NFTs for a certain length of time in order to earn incentives in DigiRack’s utility token “Rack” or other ventures with whom we are collaborating to disburse tokens.
NFT Minting Engine: The DigiRack NFT Marketplace will have an NFT minting engine, which will enable art curators to issue single or collections of works with a click of the mouse for much less than a $1 in minting expenses.
We want to implement a fee-free NFT minting and listing system in the future, which will necessitate developers to retain a minimum pre-defined number of $Rack tokens in order to create and offer their NFTs for zero cost.
The DigiRack team is preparing to debut its Pre-Sale with a competition with a grand prize of 1000 ADA for the winners. Early adopters may participate in the ongoing whitelisting to ensure a position in the Pre-Sale, since only whitelisted members of the DigiRack group will be allowed to attend the event, which has a limited number of spots allocated.
The utility token $RACK will fuel the DigiRack NFT Ecosystem, there will be just 50,000,000 $RACK tokens ever created since the company intends to make the venture a community driven platform.
The $RACK token will be utilized in the DigiRack environment for minting and acquiring DigiRack NFTs, as well as staking, a tiered manner of gaining access to the Live NFT tracker function, and administration for the DigiRack Ecosystem.
- Pre-Sale allocation: 10,000,000
- Min Buy: 500 ADA
- Max Buy: 5000 ADA
- Pre-Sale Date: 20th April 2022
The DigiRack NFT Marketplace has experienced some favorable reactions, and the development team has indeed been able to examine some of the fundamental functions of an NFT Marketplace, such as minting, purchasing, and selling, all from a wallet driven by Smart Contract.
All of this was done in dev environment to ensure that all of the features of the DigiRack’s NFT marketplace worked properly. The Development team is presently doing the UI cleaning as well as a redesign of the UI design.