It’s a fine day in the enterverse; A day $NFTART has been eagerly building towards since the decision to open the ecosystem to the Avalanche community was made. They are immensely excited to announce that the backbone of their ecosystem, $NFTART, has been successfully launched on the Avalanche network and can now be traded on Trader Joe with the NFTART/AVAX trading pair!
Even with a seasoned crypto team like theirs, you learn a thing or two after building actively in Web3 for well over a year. When deploying $NFTART on Avalanche, an important focus has been improving the mechanics and flexibility of the token contract, to support the liquidity, utility, and long-term growth of the token.
What does this means for $NFTART holders?
Now we’ll guide you through all the details of what this means for $NFTART holders, the supply and utility of the token, and how this launch will support the token and ecosystem moving forward.
$NFTART on Avalanche shares supply with the BNB Chain version of the token, meaning the token supply of $NFTART remains the same. Technically, when $NFTART is bridged from BNB Chain, the tokens on BNB Chain will be locked in an escrow, and the corresponding amount of $NFTART is minted on Avalanche. When bridging back from Avalanche, the $NFTART is burned out of circulation, and the corresponding amount of $NFTART is released on BNB Chain.
$NFTART was born to solve the current problem of the digital art market and of NFT enthusiasts. $NFTART focuses on the growing art space around the world, where artists can create, expose, and sell their own digital art. $NFTART was developed and formed, from the beginning of 2021, there are currently many accounts holding this token.
All information on the article is for reference only, this is not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.
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