The NFT market is notoriously illiquid; a fact that causes a number of problems. Rare holdings are affordable to only the most affluent traders and the floor models are subject to relentless undercutting.
Entry costs for top-tier communities are prohibitive for new market entrants and there are limited opportunities for the degens seeking affordable access. Undercutters lower floor prices, reduce profit margins and degrade the turnover of mid-rarity NFTs.
S1 and sneaky buildooor, BeautifulNFTs, has developed a protocol that solves these problems. Naffles is a unique NFT exchange protocol that allows sellers to create customizable, verifiably fair raffles to sell their assets. Fractionalizing sales allows for greater profit potential and gives sellers the flexibility to set a price irrespective of marketplace floor value. Buyers can easily roll profits into the protocol and enjoy the opportunity to win life-changing NFTs.
The project aims to capitalize on a market shift towards ZK rollups by establishing itself as the first, and premiere, raffle-based exchange in the zkSync ecosystem. Users will appreciate the ease of the integrated bridge for seamless L1 <-> L2 transfers and the security of a non-custodial protocol that uses Chainlink VRF to execute a blockchain verifiable raffle.
Sellers maintain custody of their NFT until the raffle completes and, if tickets don’t sell out, the raffle doesn’t happen and everyone is refunded. The value proposition is simple:
“Raffle your NFTs to maximize your profits. Or win any blue-chip NFT”
As a seller, the process is just a few clicks:
- Connect your wallet
- Select your NFT
- Set the ticket price and number of tickets
- Naffles automates the entire process on-chain.
The process for buyers is pleb friendly:
- Pick what NFT you want to win
- Buy as many tickets as you can without your gf asking questions
- Cross your fingers and toes
- Win your {insert your favorite NFT} for the price of a coffee.
Naffles has been building! As you read this article, first pass audits are underway, the website UI is polished to a sheen and the team is starting outreach to gather “Founders”. A Founder’s key NFT provides exclusive early access to create Naffles, generous platform discounts and future project allocations.
So what’s next? An exclusive presale for a few hundred of the earliest supporters, to raise funds for additional security audits of the completed contracts and further UI/UX improvements prior to launch. These supporters will be rewarded with a guaranteed drop of the highest Founder’s key NFT and the top community rewards.
Calling all speculators, project leaders, floor sweepers, basement degens and blue-chip holders! Naffles is offering high-profit utility and a working product at the time of mint; keep it on your radar.