You may have heard that NFTs are becoming increasingly popular as a new asset class welcomed by both traditional auction houses and cryptocurrency disruptors. For the time being, NFTs are a major thing. But can fashion, which is so dependant on the objects we wear, have a future in this space? The answer is yes, this is where ShoeFy steps up to bring digital fashion closer to the next level in the future.
Fashion is a thriving industry. But, as Heidi Klum once said: One day you’re in. You’re out the next day. So, in order to produce new collections at a rapid pace, fashion businesses have turned to technology. They are using artificial intelligence to predict consumer preferences and to speed up design processes. Algorithmic fashion ideally complements the instant satisfaction mentality of rapid fashion. It distorts the long-established fashion seasons, bringing fashion from the catwalk to the fabric shelf at breakneck speed. The age of real-time fashion has arrived.
ShoeFy is an innovative decentralized platform that mixes Non-Fungible Tokens (NFT) and Fungible Tokens (FT). It is a futuristic NFT project that makes use of cutting-edge DeFi techniques to maximize returns. ShoeFy can expand the NFT’s potential by incorporating farming and staking to generate passive income.
The project will have two tokens: $SHOE (ERC-20), the native Fungible Token, and sNFTs (ERC-721) which will be created at random on-chain. On the platform, each NFT is a unique digital pair of shoes that has been algorithmically programmed.
Shoebeasts (collectors of shoes) can show off their new digital sneakers on Snapchat and other apps. ShoeFy offers customized shoeracks for your digital kicks, and you (the shoebeast) can stake them on the platform to make passive income in the form of $SHOE tokens.
They are currently on the second phase of the third quarter in the roadmap, programming the genesis sNFTs and preparing for the IDO of the $SHOE token. ShoeFy has a long-term goal of innovating and evolving over time.
ShoeFy will enter the gaming and collectibles ecosystems, as well as develop a presence in the metaverse, with one-of-a-kind digital kicks. Later on, this will lead to the growth of the product line to include more items, as well as collaborations with prominent fashion labels.
The marketing team is proactive, and developers are working nonstop. They will be conducting IDOs on 5–7 credible launch pads by mid-October, begin on October 11th!
ShoeFy is a hybrid of the NFT and FT ecosystems. sNFTs can be issued and resold on the secondary market, with the first buyer receiving royalties each time the sNFT is traded for a set length of time. In the ShoeFy platform, sNFTs can also be utilized for staking and farming. In either case, the user generates passive income.
Unlike in typical NFT marketplaces, users will not have to wait for a buyer to bid on their sNFT. ShoeFy overcomes this liquidity problem with an easy-to-use NFT swap site incorporated into the platform. This switching function is supported by the platform’s $SHOE/sNFT AMM liquidity pool.
ShoeFy offers a limited supply of LP boosters known as bNFTs that may be minted on the platform. Keeping these LP boosters will enhance the LP payouts, maximizing the output from LP pools.
It will subsequently have its own ShoeVerse where ShoeBeasts may interact with other ShoeBeasts and explore the digital world. There will be in-game coin minting and trading, as well as play-to-earn ShoeFy games such as shoe tournaments and shoe fights. Third-party metaverse ecosystems such as Decentraland and Sandbox will also be included in ShoeFy.
In the future, the platform will progressively extend to include additional fashion brand items such as socks, jeans, t-shirts, accessories, and more. By cooperating with other well-known businesses, ShoeFy hopes to establish itself as a global merchandise brand.
You can follow the IDO List above to own the token. You can get more info at the project’s official Telegram group.
When building the project, ShoeFy keeps the community at the forefront of its mind. They are always mindful of the community. Blockchain and cryptocurrency, in general, are global endeavors. One of the primary reasons for the success of cryptocurrency is that it has no borders. The same is true for ShoeFy. The team does not target a certain community or geo-location to advertise their goods to. Rather, they concentrate on the project’s overall goal and attempt to cater to the global market.
So far there isn’t much information about the team, neither the founder. According to AMA Recap Vol.46– ShoeFy: “NFT + FT = Winning Formula”, Michal is a part of the team shared: “I am in the crypto space ever since late 2016, so I assume you can call me a crypto OG since I have already been around for two bull markets. In March 2017 I’ve held my first ever Ted talk about distributed ledger technology and blockchain, realizing the benefits of such a technology. In March this year, I have started my own blockchain venture capital firm called Catena Venture Capital www.catena.vc (http://www.catena.vc/), and that’s how I came across some great talented people, one of them being the founder of ShoeFy.”
The project is led by a team of experienced blockchain venture capitalists, creative NFT developers, and top-tier marketing experts spanning from Europe to Canada and onto South Korea & Thailand in SE Asia. Their team members share common goals and foresee a huge opportunity in the NFT and DeFi market space. In terms of their backgrounds, some of them are founders of creditable VC firms and also marketing experts. Other members have experience in reputable crypto projects and exchanges. Also, they have boarded a tech team of superior talent building their platform.
These partnerships are extremely beneficial to ShoeFy. Each of our partners is a well-known investor with extensive expertise and understanding in the sector. They have a varied range of resources and skills that can help ShoeFy’s market position. Their extensive network and contacts will be a significant asset in terms of marketing and community outreach.
ShoeFy is the first project to provide FT + NFT token synchronization. They have observed that many persons in the NFT space hold extremely valuable NFTs, yet users are unable to derive any benefit from them other than price appreciation. They want to bridge this gap; NFTs are a one-of-a-kind opportunity for people to make passive money on items that have sentimental significance to them.
Since the project also involved Metaverse, you might come up with other famous Metaverse, such as Decentraland, Sandbox, Bloktopia, etc. But the concept will be different. ShoeFy will be partnering up with very popular metaverses in the near future. With their one-of-a-kind digital wearable shoes, they aspire to be the “Nike” of the metaverse.
The advantage is certainly that Shoefy is one of the early adopters who recognize that combining NFT with FT will give greater utility and innovation. There are currently very few platforms on the market.
Shoefy has enormous potential for scaling and expansion, as well as connect with the metaverse and gamification. Its new and modern strategy of merging the NFT and FT allows you to make passive money while enjoying the collections. As play to earn is becoming popular, collecting NFT and earning will be the next big thing, and ShoeFy will be a pioneer in this field.
Users will be able to mint several classes of sNFT (common, rare, one-of-a-kind, epic, legendary, and mythic) and resale them on the secondary market. Furthermore, sNFT holders will have the option of staking their assets in the ShoeFy staking pool or becoming a Liquidity Provider in the ShoeFy liquidity pools and earning further rewards.
Overall, it’s a worth-waiting project this 2021. Stay tuned for more updates on our website.
Find more information about the project:
Website: https://www.shoefy.io/
Litepaper: https://shoefy.gitbook.io/shoefy/
Twitter: https://twitter.com/ShoeFyio
Telegram: https://t.me/ShoeFy_Official
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
KAZ
Coincu Ventures
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