ENVOY Network helps selected partners with their creative journey in this new and thriving space, ensuring the best end-to-end services and community driven network where collectors gain rewards while doing so.
'NFT' is probably one of the hottest terms of 2021. And with celebrities, brands, musicians and IP owners worldwide starting to realize their massive potential, NFTs are changing the game on how we perceive and register ownership of assets.
ENVOY offers a new thriving and exciting ecosystem driven by the ENV utility token
The basic concept of an NFT is fairly simple. It's a tamper-proof certificate of ownership and authenticity. While a Bitcoin, for example, is fungible (trade one bitcoin for another and you will hold exactly the same thing in your wallet), an NFT is non-fungible. Meaning that somewhat like a traditional trading card, if you'd trade it for a different one, you'll own a completely different asset.
Smart contracts can make sure all rights owners are being credited and correctly paid, even when the NFT is sold (for potentially way more money) in the secondary market, and just like with physical artwork and collectibles, the creator can still retain the copyright and reproduction rights of the work. And even though there could be millions of copies floating the internet, NFT's are designed to give the buyer something that can't be duplicated: ownership of the actual work. This is actually no different than the physical art world: anyone can buy a Picasso print, but only one person in the world can own the original.
Forbes recently reported that the NFT market has boomed for almost 1800% in 2021, generating millions for digital artists and celebrities worldwide, but also functioning as a secondary income for musicians and actors in times where the pandemic forced the world to cancel all tours, concerts and movie shoots. It's worth noting that the NFT economy has only impacted a small niche of artists so far and even more importantly, it's safe to say that 99% of those artists' fan bases have remained untapped. There is still a long way to go and even the biggest platforms are struggling to broaden the spectrum, but this also means only the surface of a multi-billion-dollar market has been scratched and the potential upside is virtually infinite when a platform is finally able to tap into that full fanbase potential.
That's where the ENVOY Network comes in, consisting of an extended team of industry experts, aiming to fix the current NFT issues and limitations in a multi-layer plan. ENVOY offers tailor-made solutions for all creators, from the industry elite to emerging talent, and all buyers, from top tier collectors to the millions of passionate fans who have to make do with limited budgets but are equally eager to own a piece of their favourite artist or IP.