Monopolistic corporations have always climbed control over traditional industries, with the general population left out as mere consumers. But when cryptocurrency came about, people saw a new industry that offered one key factor that created a significant shift: freedom. Leveraging on the strengths of the cryptocurrency space is SPUME, the first holder-owned Non-Fungible Token (NFT) marketplace created by holders for holders.
SPUME is the first fully community-owned NFT marketplace on Ethereum offering game-changing utilities to everyone involved in the cryptocurrency exchange. The marketplace aims to return the power back to holders, reward its community, and provide people with an all-encompassing marketplace where they can buy, sell, trade, and create NFTs on multiple blockchains. The generated revenue from SPUME’s transactions will be divided fairly across its shareholders. By accomplishing such goals, SPUME will be the first truly decentralized and autonomous NFT community, marketplace, and token.
Developed by blockchain experts and industry leaders, SPUME’s tokenomics focuses on token utility, price stability, and community security. A total of 100 million SPUME tokens will be released to the cryptocurrency space, allowing the platform’s market cap to be interpreted easily and more understandably by everyone.
“Having the supply of SPUME tokens be relatively low will help the community’s holders value their anticipated profit sharing and yields in a more relatable way,” explained the creators. “Also, having our token supply lower than normal will allow us to have more trading pairs when our token is listed on exchanges. This is especially important when a token is being paired against high-price coins because many exchanges only allow tokens to have a certain amount of decimal points for its price.”
The SPUME token is an implementation of Open Zeppelin’s standard ERC20 token with addition of their Snapshot class which allows the organization to take snapshots of the current token holders at any given time and place. Snapshot information will then be stored on the blockchain and can be accessed by anyone.
SPUME’s Decentralized Autonomous Organization (DAO) will be primarily occupied by members (people who work for the DAO) and shareholders (people who will benefit from the profits through dividends). The DAO is under a smart contract governed by shareholders.
SPUME aims to create a similarly seamless experience as holders get in OpenSea. The marketplace will strengthen people who have little to no experience in minting NFTs with the knowledge and skill to sell through the site without having to fund their wallets.
The team has also created accounts on social media platforms like Twitter, TikTok, and Instagram. There is also a Discord server and Telegram group for updates.
The types of NFTs SPUME will interact with will follow the standards OpenSea has helped build, ERC721 and ERC1155. The marketplace provides several key utilities, including NFT listings for both buying and auctioning, buying and bidding auctioned NFTs, and creating NFT collections under one contract.
“A place where stakeholders have a say in how it is operated and can decide to enact change when they see fit. That is what we are building–a decentralized marketplace where exchanges take place, where transaction fees are redistributed to the stakeholders equally and equitably, and where the user has the power to decide when and how changes take place. This is SPUME.”
Opinions expressed by CEO Weekly contributors are their own.
