The global Covid-19 crisis has contributed to the rapid growth of digital assets and more specifically the non-fungible token (NFT) sector. Not only did Ethereum native NFTs experience record growth in early 2021, but the latter half of the year also brought NFTs to the main stage with other blockchain networks such as Solana. More recently, Terra has exploded with NFT projects coming out almost every day. By participating in NFT launches outside of the Ethereum ecosystem, users found many benefits — low costs, scalability, and diverse communities.
The hyperbolic growth in NFT adoption has paved the way for an entirely new kind of crypto consumer. Record sales from attributed from actors, musicians, and artists fan bases created an opportunity for entrepreneurs to develop new tools to support the NFT ecosystem. Luart will bring the most innovative and advanced NFT marketplace to the Terra ecosystem. Our platform will focus on not only delivering digital art but creating an entire ecosystem of tools that support the expanding metaverse. As Luart grows, so will our platform. From staking native tokens to earn NFTs to platform exclusive avatars; an entirely new way to interact with digital assets.
Why another NFT Platform on the Terra Blockchain?
Terra native NFTs have seen a recent explosion in user adoption. Current NFT platforms are simply means of exchange, not providing many benefits to individuals who are active users. With our platform, users are rewarded simply for being users. We believe that Luart will be a framework for the future of decentralized NFT marketplaces.
Do Kwon said it best — “Much of the NFT market is like having a Rolls Royce that you can’t take out of your garage.”
Gamification will play an important role in the expansion of the NFT market. Monetization of digital assets is the first layer — how can we put them to work? In what ways can NFTs add value to a virtual space? Luart is designed to answer these questions and play a key role in the gamification of NFTs.
Functions and Platform features
Below we outline the planned features with Luart’s platform.
- The best place to buy, sell, and auction NFTs in the Terra ecosystem. We are bringing a beautiful UI to create a seamless experience for users. Retail investors will be able to purchase their favorite assets without having to worry about high transaction costs. NFTs will be priced $UST — in the future, we plan to allow for both $UST and $LUNA pricing.
- Bridging the gap between creators and LUNAtics one NFT at a time. Luart’s launchpad is the premier destination for creators. List your NFT collection with ease, in full control, and decentralized. We plan to bring exclusive NFT launches to our launchpad through partnerships with creators we are already in conversations with.
- Luart’s NFT Boxes are the next revolution in NFT marketplaces. Boxes will allow users of our marketplace to have a chance to win rare NFTs hand-selected by our team. Users will be able to select from a pool of randomized boxes — the greater value in $UST a user pays for a box, the rarer the NFT.
- Fight now for the rarest works on our platform! Thanks to the introduction of the auction system, you can now raise the price for your favorite creations on the Terra ecosystem. This function will be to directly insert the amount that the buyer wants to pay.
- LUA Power is a platform devoted scoring system that serves as an incentive for users to be able to use some hidden or premium features in our NFT space in the future. It will be earned through activities on Luart such as staking, buying boxes, and storing NFTs (eg. Avatars) in your wallet. In addition, LUA Power will be required to participate in NFT launches on our launchpad.
- By staking Luart’s native token, users will be able to earn and win NFTs, as well as other incentives like early access to platform exclusive NFT launches. Further incentives will come to the platforms as we grow our partnerships with creators. The greater the size of an allocation to the staking pool a user has, the greater the incentives.
- Collections will allow artists to exhibit their art under their own placement on the website. This will help artists uniquely display and set themselves apart from other NFTs. Our platform will host virtual spaces where art shows and exclusive events can be held.
- Avatars will play an important role in the gamification of the Luart platform. Users can only acquire them through boxes. Rarity will bring more access and incentives to the platform, as well as increasing your LUA power score. More details will be released at a later date.
- With Columbus-5, Terra opened the flood gates to other networks. We plan on bridging NFTs across multiple chains. As we grow Luart, this will become our top priority, but growth on the Terra network is priority #1 now.
Open galleries, staking rewards, exclusive launches — Luart plans to be the premier destination for NFTs. Our features will push forward the gamification of the NFT market.
“Our mission is to deliver the best platform to the best community in crypto. We are all here as LUNAtics and plan to stick around for LUNAtics. Get ready.”
— Szymon Przybylski, Founder
Help Us Grow
If you’re interested in helping grow Luart’s platform or collaborating, send us an email or DM. Keep up to date with the latest innovations from Luart by following our Twitter, Telegram, and signing up to our website.