PolkaFoundry Red Kite is pleased to announce a partnership with the NFT marketplace aggregator NFTrade to bring NFT trading, swapping, and farming to the PolkaFoundry ecosystem. Additionally, NFTrade will launch its IDO on Red Kite, allowing the Red Kite launchpad community to invest early in the multi-chain NFT creation and trading platform. The partners have agreed to collaborate on the following:
- NFTrade will conduct its IDO on Red Kite, making its utility token available to Red Kite investors.
- PKF will integrate into the NFTrade platform, allowing for easy peer-to-peer NFT swaps and NFT farming using the PKF token.
- PKF users can partake in the first cross-chain NFT aggregator, marketplace, and creation hub, creating more utility for the PKF token.
Red Kite IDO
NFTrade has chosen Red Kite as one of the nine launchpads for its token generation event. Red Kite users can gain early access to the NFTrade utility token, which provides holders with governance rights and various platform utilities. Red Kite will be announcing more details on the IDO, scheduled for the end of June shortly.
Bringing More Value to PKF Holders
In addition to the Red Kite IDO, PolkaFoundry and NFTrade have entered into a deeper partnership to create long-term value for both projects. NFT and DeFi dApps building on PolkaFoundry optimize through the one-stop production hub to take advantage of the higher performance and cross-chain opportunities on Polkadot and other nextgen blockchains. Through optimization on PKF, these dApps can enjoy frictionless access to NFTrade’s cross-chain NFT trading and swapping services.
Under the partnership arrangement, PolkaFoundry users will gain access to NFT trading and DeFi services on NFTrade. Through the NFT farming application, PKF holders can stake PKF tokens and earn utility-based and collectible NFTs exclusive to the PolkaFoundry community. PKF holders, in turn, can trade these limited and verifiable across chains at a low fee.
PolkaFoundry’s growing ecosystem of projects will be able to buy, sell, and swap NFTs safely and securely on NFTrade. Peer-to-peer swaps on NFTrade are secured by an escrow mechanism, allowing parties to trustlessly interact. Token holders can create additional value from farming or staking idle tokens.
The PKF Red Kite-NFTrade partnership leverages the synergies of the advanced NFT and DeFi features of both platforms to create more value for their users. Both parties look forward to exploring new value creation opportunities for their users in these converging markets.
NFTrade is the first cross-chain and blockchain-agnostic NFT platform. NFTrade is an aggregator of all NFT marketplaces and hosts the complete NFT lifecycle, allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.
About Red Kite
Red Kite, part of the PolkaFoundry ecosystem, is a launchpad designed with distinctive features to host hand-picked, fully-vetted projects. Capital-raising efforts are supported by a network of tier-1 marketing partners, top influencers, and communities, a robust vetting process, and easier investor access at a lower price. Features include multi-chain support, parachain crowd loans, a lane-based swap system, and an intelligent reputation point system.
PolkaFoundry is a platform created to enable borderless and frictionless DeFi applications, including NFT-based applications, using the interoperable Substrate framework. Using PolkaFoundry, developers have more opportunities and options for creating across the DeFi marketplace, doing projects that are much more fluid and interconnected. By connecting DeFi applications, Web 3.0, and the Polkadot ecosystem, PolkaFoundry offers various solutions that empower both new and established DeFi projects.
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