Renaissance Labs and Endemic NFT marketplace are joining in a perfect collab
Renaissance Labs and Endemic NFT marketplace made a partnership deal that benefits our artists the most which warm our hearts and make us proud. As the first Protocol on Aurora, which collects the artwork in the NFT sphere, it made sense for Renaissance Lab to join hands with Endemic — the first truly artistic and curator-picked young NFT marketplace on Aurora with amazing art from all over the world.
Collector of rare art and the platform that has it — a perfect collaboration.
Our collaboration extends in the purchase of works of art but also in onboarding new artists. On one hand, our world-class artists and high-quality art will surely show up as irresistible and spark Renaissance light. Furthermore, in the case when they like the NFT from artists that are not yet a part of the Endemic marketplace, our task and honourable duty will be to contact the artist, invite him or her to the marketplace and guarantee the sale. How cool is that!
Find out more about Renaissance Labs
With the slogan of The Rebirth of NFTs, Renaissance Labs is a community-owned financial tool for the better future of NFTs. Renaissance Labs’s mission is to create and own fractionalized liquidity for NFTs on the NEAR/Aurora ecosystem. They believe in the decentralization of art — creating liquidity and utility in the decentralized NFT market. Renaissance Labs will accelerate price discovery and accessibility of NFTs by building and owning fractionalized NFT liquidity pools. A goal may be lofty and audacious, but with a great community behind, they will surely achieve this.
Having their own presale token and selling it, this community Art DAO now has the funds in their treasury. That will be the funds with which they’ll buy Endemic NFT art before it hits the market and keep it in their treasury. They will be fractionalized and their community will be able to buy tokens of the Endemic art. Talking about benefits for Endemic collectors and buyers: they will get access to the great and big community as well as good purchases.
It basically works like this: Renaissance Labs’s token $ART utilizes the OHM rebasing mechanics to bootstrap the protocol’s treasury.
The protocol fractionalizes NFTs by minting a set amount of tokens backed by an NFT purchased by the DAO. 50% of these tokens will be sold to the community in a public IDO using a bonding curve starting at a slight discount to the Protocol’s acquisition price in ETH. The proceeds will be paired with the remaining tokens to form the initial LP for the fractionalized token.
Additional NFTs in the same token will be backed by the same amount of tokens as the original tokenized NFT. The new tokens will be launched as a public sale to the community again through a bonding curve that starts at a slight discount to the Protocol’s acquisition price.
The purchasing of the newly minted fractionalized NFT shares can be paid in the corresponding series’ Fractionalized NFT LP and ETHThis allows the protocol to continue building ownership in the NFT’s liquidity pool whilst concurrently building up Treasury reserves to purchase more NFTs.
So, owning the native token ART provides an opportunity for staking rewards within the protocol to earn more APY and to be part of our mission to increase liquidity in the NFT marketplace.
You know what to do — give them support:
Endemic is a new NFT marketplace that runs on cool, fresh and original concepts and builds better and more modern tech and art. With a humane and anti-corporate attitude and a personal approach without mint and gas costs, we are an ideal marketplace for both new and renowned foreign and local artists starting in the NFT sphere. Endemic is not an anaemic, colourless, mainstream marketplace — we are the cool alternative.
Bit more facts about what our invite-only NFT premium art station is:
- Custom made
- Artist/creator centric
- Focused on quality art
- With emphasized and developed social network components adapted in the crypto sphere
- NFT Marketplace with soul
On top of this, to run our vision flawlessly we decided to adopt Aurora on top of the NEAR protocol to solve the high fees hustle and be a part of the amazing family.
🚀 Launch date: 22.02.2022. 🚀
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