1 Million NFTs

1MillionNFTs is a type of cryptocurrency that is operated using the Ethereum platform. It has a designation of 1MIL, and there will be a total supply of 10 million. The images and other artwork that will be shared by users on this grid would be noteworthy.

Inspiration:

In 2005, Alex Tew created a 1000x1000 grid 1MIL pixels for sale at $1 each. He raised $999k and the last 1000 pixels were sold on eBay for $38100. He was the creator of milliondollarhomepage.com. Nevertheless, this project didn’t sustain itself because of a lack of decentralization.

Another thing happened when in 2017 on April Fool’s Day Reddit, launched a social experiment called “Place”. Reddit allowed every registered user to place a colored pixel every five minutes and that too for free. But because of lack of motivation or any sort of reward of this project, it couldn’t sustain as well.

These two events inspired the founder(s) of 1MillionNFTs as they decided to create a similar project that is decentralized too and here we are. They learned from both these events and hence, have come up with a strong and trustworthy project.

How does 1MLN work?

Technically, 1MillionNFTs can be described as a smart contract that runs on the web3 platform powered by the Ethereum blockchain. It has a 1000 x 1000 pixels grid. Each one of these pixels is an ERC-721 NFT token that has its unique location. People who have 1MillionNFTs will be able to purchase, sell, borrow, and paint the pixels. This allows them to produce any picture with a particular link inside this picture. However, people looking to paint pixels will need one more ERC-20 token (1MIL).

1MillionNFTs is a platform that works with a dual-token system to get a wider audience engaged in the ever-growing NFT space. We have two different types of tokens: these are:

• The ERC-721 non-fungible tokens — Every given NFT is a proven blockchain ownership that has 1 pixel in the 1,000 x 1,000 grids.
• ERC-20 tokens (1MIL) — These tokens make it easy for users to purchase NFT-pixels and be able to paint them as they create pictures within the grid.

The platform is powered by the Web 3.0 and uses the disruptive model of combining NFTs and cryptocurrencies to create a new business model. This business model allows anyone to create and sell their digital artwork on the internet. However, terms and conditions apply.

The distribution of these tokens is as displayed in this image below:

Platform:

1MillionNFTs has three components in its platform:

1. PUBLIC VIEW: 1000 by 1000 pixel grid will all painted NFTs and user links available and will be mobile friendly as well.
2. WEB3 AREA: Arena to connect your ERC-20 wallet, paint NFT pixels you own as well as manage your assets/NFTs/tokens as well.
3. MARKETPLACE: Smart-contract-based marketplace to buy, sell, rent NFTs and the ERC-20 tokens.

Why 1MLN Project?

1. The first and foremost reason is the growing trend and acceptance of NFTs (non-fungible tokens) in the cryptocurrency ecosystem. NFTs are transforming ownership from physical to digital space. Seeing the current trend of cryptocurrency and NFTs, it won’t take long for 1MLN to be acknowledged wide in the cryptocurrency community and accepted well.
2. The main focus is laid in the project is on simplicity. Simplicity in buying, selling, keeping, and managing tokens is being taken care of. Generation of new tokens and renting out your pixels is the way you can make business.
3. It is a community-driven project. Big names like Sky Venture and Hacking Club are already a part of the list of investors in the project which says a lot about it.
4. As we know, decentralization means giving the power in the hand of everyone instead of just a central body and that is exactly what the project is focused on. Users will have the full ability to buy, sell, and insert a link inside their pixels. This again, says a lot about the project.
5. There is a lock-up period as well for initial investors so dumping of the tokens does not happen for the public.

GROWTH PROSPECTS:

The growth prospects for the project are humungous. The first and foremost thing to focus on is that it should soon have its IDO on famous platforms like Binance, etc. so that it can reach more and more people, and they know about it. Apart from this, partnering with more institutional investors will throw more light on the project and again increase the reach of the same. Having limited supply for the token is already something that works in their favor, and more visibility through various advertisements could also increase their reach and hence, the craze and demand of the token

This project is the future and I don’t see a reason why anyone would miss it.

Currently, exchanges, where 1MillionNFTs can be traded, are DODO, UniSwap and 1inch Exchange.

To know more about the project, click here.