We are proud to announce our investment in HooDoi.com, the multi-chain marketplace to create, buy, sell, and resell NFTs, secured by blockchain technology and powered by the HOD token.
Current Issues in the NFT Marketplace
The NFT market tripled in 2020, with the total value of transactions surpassing 299% year on year, amounting to more than $250m. This kind of growth shows the significance of the market itself and how popular it has become with investors, enthusiasts, and creators.
However, NFTs as a digital asset class are still in their infancy. The platforms that currently support trading them are very general. They are not optimized for high traffic volumes, have limited payment methods, high gas fees, lack consistent and user-friendly interfaces, and are hard to navigate for the average creator or consumer. Moreover, even though there has been a lot of hype around NFTs recently, they still have not been fully adopted across many industries, including E-marketplaces. This leaves much room for the emergence of new projects to challenge the current status quo and deliver mass adoption.
HooDoi.com will be the eBay for NFTs
HooDoi.com is a project that we think has the elements to reconfigure the NFT space and make it a more inviting place for consumers and creators alike. This is because it is highly focused on delivering a user experience like no other to make the world of NFTs an easy place to navigate.
Branding itself as the eBay for NFTs, HooDoi.com will empower all parts of the NFT market from creators to sellers to buyers. For creators, the platform is all about providing a user experience that allows them to upload pieces of digital content in all file types, select their chosen blockchain network, and start an auction listing quickly with 0 fees for creating their NFTs. For sellers, the platform streamlines features such as a Buy it Now option, reservation price listings, and detailed verification processes to verify users and assets. It will also provide a transparent, trustworthy, and professional marketplace that will maximize confidence through verifiable product and personal reviews.
Moreover, by streamlining an exclusive membership program and intricate reward system powered by the HOD token, HooDoi.com will benefit all users and holders alike with cheap fees, staking rewards, and access to both competitions and referral programs.
Why We Invested?
We understand the value that NFTs represent in the global cryptocurrency and blockchain ecosystem, and we’re on the lookout for groundbreaking projects that will disrupt the current status quo and propel this particular digital asset class into mass adoption. HooDoi.com represents a project that has set itself out to do exactly that by concentrating on improving the usability, access, fee structure, and payment features of the NFT space with direct connection to E-marketplaces.
Such features make HoDooi.com a project with real potential, one that can penetrate the global NFT industry and improve it substantially by empowering creators, sellers, and buyers to deep dive further into the world of non-fungible tokens with more confidence, transparency, and trust.
We are watching Hoddoi.com closely and are excited to see it emerge as the eBay for NFTs, making it a project with real power to create a new wave of popularity in the global NFT space as a whole.
The Multi-Chain Marketplace to Create, Buy, Sell, & Resell NFTs secured by blockchain technology and powered by the HOD token.
About Master Ventures
Master Ventures is a blockchain-focused venture studio helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects, including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
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