Riga City, Latvia -- (SBWIRE) -- 12/28/2020 -- In an era when markets are dwindling and struggling to grow, digitalization has come to the rescue. Due to recent COVID-19 restrictions and lockdowns in many countries, several businesses like gyms, educational institutions, healthcare entities have incorporated online consultation services to ensure customer retention. This is where Juggernaut (JGN) comes into play with its newly added abilities and functions in the form of Non-Fungible Tokens (NFT).
The blockchain project Juggernaut is pioneering the NFT space with numerous use cases, formats, and games. They can be created to help artists from across the globe to use blockchain and digitalize their assets by listing them on the NFT marketplace. The prime motive of Juggernaut's NFT marketplace is to enable widespread adoption of NFTs format into innovative formats and enable artists to tokenize their creations and present them to a global audience.
The Maiden NFT Art Collection by JGN – The Beauty in Decay
When it comes to ownership of digitized assets, NFTs can upgrade access and tokenize the rights for digital art. Besides digital art, NFTs have the capability to redefine the market dynamics of various other industries without modifying the monetary value of the assets.
Juggernaut's NFT portal presented its first feature collection by Shane Rottweilor, "The Beauty of Collection." Shane works as an artist, illustrator, designer, and muralist from Toronto and creating fascinating creations. "I'm excited about NFTs because I think it's going to get a lot of underground artists' art out into the world and give unprecedented ownership to those that care about it " – he says.
The way it works is that there are four feature art pieces made by Shane that are available in the marketplace. These art pieces have limited availability. Moreover, copies of the art pieces won't be available in the future on the marketplace. For details about this collection, you can view this video and blogpost.
How Does the System Work?
With Juggernaut, users must first stake JGN and get jXP (Juggernaut Experience Points). Using jXP,a user can get a chance to earn and buy limited edition NFTs.
For instance, it is not possible to exchange one piece of art created by an original artist with a replica of the same made by another artist. So, when an asset cannot be traded for another asset, NFTs can be used to create a bridge between these two assets.
Plus, because the NFTs are based on the blockchain, they are unalterable and provide the ultimate proof of authenticity. Once a user secures these NFTs, they can be exchanged to secure the art pieces listed in the NFT marketplace. The same NFTs can also be sold on marketplaces like Opensea.io.
BSC NFT Collection and Interoperable NFT Exchange
With Juggernaut's partnership with Binance Smart Chain (BSC), the platform is gearing up for a better and more inclusive future. The initial partnership project will lead to the first interoperable BSC exchange and marketplace.
Interoperability is one of the novel ways in which Juggernaut's mission to make DeFi and NFT accessible comes one step closer to realization. The shift from ETH to BEP is also a representation of the objective to make NFTs available to everyone.
JGN has plans to further expand and become a part of different projects within the Binance ecosystem. 2% or 3 million JGN's total supply will be available on BSC, which will change the configuration of the assets from ERP-20 to BEP-20.
Having already integrated JGN on Binance Smart Chain, the JGN team has already launched its maiden JuggerDRAW NFT Lucky Draw game (with over 5,000 plays in one day as of publication time-based BSC Explorer data) and a holiday NFT collection on BSC. This means that JGNs NFT operations are going to take in more artists while helping them get listed on a global platform and reach out to a global art enthusiastic audience.
Juggernaut is pioneering this field and bringing the benefits of NFTs to more audiences while adhering to their needs and requirements. Juggernaut is also adding the operational efficiencies and benefits of DeFi to the NFT market.
In a Nutshell
Juggernaut is a primary example of a project that seeks to explore the field of synthetic assets and explore different business use cases. It gives access to multiple operational aspects like jXP, JGN, NFT, and much more. With a proven track record in creating and designing NFT infrastructure and commerce, their upcoming BSC compatible NFT exchange is one to watch.
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