NFTs have come a long way. From Mike Beeple’s record-breaking NFT auction to CryptoPunks, the market has experienced tremendous growth. Despite all these, the billion-dollar emerging industry still faces many problems. The high cost of transactions, sometimes ranging from $80 to $250, is a significant sticking point, prompting most users to settle for an alternative second-layer blockchain.
While it is a viable alternative, it is problematic— converting tokens is both a technical nightmare and an arduous task. Using the second-layer blockchain removes liquidity and decreases the composability of the primary chain. It also opens up the floodgates of security and privacy issues, putting the emerging market at risk of multiple malicious attacks.
Fortunately, there is a feasible solution devoid of security and privacy concerns—the HovR NFT exchange.
The HovR NFT Exchange
A product of Vortx Capital Pty LTD—a reliable software investment company—HovR is a Qi-based, world's first in-game NFT exchange. HovR leverages the groundbreaking Qi blockchain—arguably one of the most advanced networks in the crypto industry— to deliver lower NFT mint fees and a marketplace expressly built for NFTs with real-time use cases.
HovR realizes the immense potential of NFTs and the role they can play in the sports, education, energy, healthcare, and immigration sectors. And it is suitably positioned to lead the disruption of these industries, setting the NFT space on the path of actual global adoption. With most of the NFTs possessing little to no real-world value, HovR aims to focus mainly on substantial non-fungible token offerings such as domain names, social media avatars, ticket touting, safe storage of wills, in-game trading assets, etc.
How Qi Blockchain Will Power HovR
Based on the Qi blockchain, HovR will benefit immensely from this super advanced network. Integrating an NFT ID system, Qi will allow HovR to ascertain the original owner of every NFT and deduce the trading history.
As a product of Vortx Capital Pty Ltd, like HovR, Qi will house a host of decentralized applications [DApps] and play-to-earn [P2E] games soon to be launched by the software investment company. HovR will benefit from Qi’s ultra-fast transactions feature. Currently, the Qi blockchain is at least 300 times faster than Bitcoin and ten times faster than SWIFT, guaranteeing HovR users incredibly quicker trades.
As more gamers and developers continue to enter the emerging P2E gaming market, partly due to the influx of an array of exciting games and sustainable reward economies, HovR, through its fast, low-cost, straightforward transactions, aims to be at the forefront of this onboarding process. HovR prioritizes you by giving you complete control of your NFTs—users can conveniently sell/buy NFTs and other in-game assets.
According to a recent press release, HovR has launched a series of NFTs—inspired by 10,000 of the world’s largest cities by population. These NFTs will give holders a sense of belonging and will play an essential role as in-game components for a P2E-based game for world domination.
As one of the companies keen on changing the NFT and blockchain spaces, Vortx Capital is in talks with Equity Express Stock Exchange and the Johannesburg Stock Exchange to become the first blockchain-based company to launch an IPO in the African continent.