NFTY Jigs the World’s leading NFT Platform for the Metaverse has launched a public crowdfunding round. The round officially launched yesterday on wefunder.com and has a goal of raising $500.000.
Jack Laskey, CEO of NFTY Jigs, sees the lack of scale as a pain point for the NFT economy: ‘If Metaverse-applications want to serve millions of players and users, it will be essential for them to transfer NFTs in a cost-efficient and reliable manner. NFTY Jigs has already achieved the necessary scalability today to keep transactions predictably low, secure and fast. ’
While scalability is less of a problem for investment in NFT art, it is not sustainable for a diverse and complex system like the Metaverse. Games such as Axie Infinity had millions of players and allowed them to mint their own in-game assets as NFTs, but they have struggled to provide a solution that is both secure and scalable, leading to a $650M hack of their scaling solution, Ronin, earlier this year. While metaverse-applications are still in an early stage of development, Citi Bank has projected that the Metaverse economy could be worth $13T by 2030.
NFTY Jigs achieves the necessary scale for this by relying on the BSV Blockchain. It processes transactions almost instantaneously and at a cost of a fraction of a cent. The company has already minted close to a million NFTs today at the lowest prices on the market. This makes NFTY Jigs the market leader in NFT scalability today.
NFT platforms that are working on similar use-cases often suffer from security issues, as exemplified by the Ronin hack. This was made possible by a security vulnerability in a side-chain of Ethereum. The side-chain Ronin was necessary to provide the scalability which the main-chain, Ethereum, lacks. Such second layer solutions are often vulnerable attack vectors and showcase further why a secure and scalable main-chain like the BSV blockchain are essential for the NFT economy.
The platform wefunder.com allows the role of a Lead Investor. For this crowdfunding round NFTY Jigs chose Kurt Wuckert Jr., who acts in a representative function for all investors. Among other functions, the Lead Investor signs documents on behalf of all investors and directs their voting rights. For further information regarding the role of a Lead Investor, see the specific FAQ section of wefunder.com.
By participating in the crowdfund, investors enter into a Simple Agreement for Future Equity (SAFE). Investors contributing the first $250,000 invested this way receive more favorable early bird terms. Read more about Wefunder’s Simple Agreement for Future Equity (SAFE).
Dave Mullen-Muhr, Co-Founder and COO of NFTY Jigs, commented this on the announcement of NFTY Jigs public crowdfunding round:
‘Security and scalability should already be recognized as essential for the token economy. As the ecosystems around NFTs continue to grow, these qualities will become fundamental for the success of any NFT-based application. Being built on the BSV blockchain, NFTY Jigs inherits its security and scalability features. As it scales on-chain, NFTY Jigs deprives hackers of any attack vectors and is therefore not only the most cost-efficient but also the most secure alternative on the market.’
Jack Laskey, Founder and CEO
Before starting NFTY Jigs, Jack was a Partner at Unbounded Capital, the first fund investing exclusively in scalable blockchains. Prior to joining the blockchain space, Jack was a software developer, jazz musician, and a professional poker player.
Dave Mullen-Muhr, Founder and COO
Mullen-Muhr has years of experience in scalable blockchains working as a partner at Unbounded Capital, the first fund investing exclusively in scalable blockchains. He formerly worked in film production in Los Angeles, CA.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.