HyperDAO Creates the Strongest NFT Minting System for the On-chain of Real World Assets
DeFi is no doubt the hottest market in the crypto world for the year 2020. DeFi (decentralized finance) experienced an explosive growth for a whole quarter in the summer of 2020. The value of DeFi locked has increased from $ 2 billion in July 2020 to $ 11 billion in October 2020. Throughout July and August, multiple DeFi tokens has appreciated by more than 5–10 times. DeFi is a highly sought after project in the crypto-community, however, its rise to fame has rapidly faded soon after . Since September 2020, despite the growth of its locked value, the DeFi token price and protocol indicators have clearly diverged, and the token callback rate has exceeded 50%. In order to prolong the DeFi hype, many project parties and investors have set their sights on the “DeFi+NFT” concept, allowing the niche market of NFT to come out of the entire crypto market.
HyperDAO’s NFT Minting System
NFTs or Non-Fungible Token are tokens that are both unique and has different prices for each individual token.
HyperDAO is committed to providing users with an open, fair, and interconnected decentralized financial ecosystem. Since its establishment, HyperDAO has provided users with various services, from asset exchange to implementation of automated trading strategies to the creation of stable coins. In the development process, HyperDAO further improves its services by allowing users to place real world assets on chain as collateral and borrow against them. Therefore, HyperDAO’s NFT Minting System was born.
Real world asset NFTs are a very promising industry. This is because the market size of real world asset itself is quite large, and HyperDAO’s NFT system has allowed the ownership of the property to be represented by the ownership of the token, as well as reduce the transaction cost for sending the NFT to another address to only requiring the gas fee.
However, the most critical issue for real world assets lies in the need for a trusted third party to issue and accept the NFTs. For example, the conversion of the real estate industry into NFTs can only be implemented by the real estate management center or by a relatively large real estate intermediary platform. It can also be implemented in conjunction with the relevant documents of well-known accounting firms and well-known law firms.
If the credibility of the third party is insufficient, users will not dare to spend millions of dollars on the NFT of a house online. Furthermore, the insufficient credibility may even cause many problems down the line such as runaways and frauds.
HyperDAO’s NFT Minting System Optimization
In order to link the NFT market trend, HyperDAO will create a complete on-chain collateral ecology for real world assets through the DAO governance mechanism.The first step to realizing the collateralization of all real world assets on the blockchain is to cooperate with offline third-party custodians and property management agencies. HyperDAO’s NFT system will use blockchain technology to break the regional restrictions set on real estate investment, and by representing the ownership of assets with token ownership, will help reduce the overall transaction costs.
HyperDAO, as a pioneering practitioner of NFT real world assets, is steadily advancing the NFT Minting system, allowing users to conveniently place real-world assets as collateral for lending and mining purposes. HDAO plans to lead the NFT industry’s business innovation and application scenarios exploration. HyperDAO will have more developments in the future, and we can only grow together if we always show concern for the community!
HyperDAO believes that NFT will be the next step in the development of DeFi. Users will be able to gain more benefits as more real world assets are placed on chain. This is the mission and vision of HyperDAO.