Unifty is combining decentralized finance (DeFi) and nonfungible tokens (NFT) with its launch today, Dec. 9, of The Gallery, an innovative exhibition space inspired by the platform’s desire to improve upon the traditional gallery-creator relationship. The Gallery’s unique approach to the NFT marketplace means that all participants, including creators, collectors, curators and fans, are rewarded for engaging on the platform.
The Gallery reimagines the way creators traditionally showcase their art to the public and the NFT platform experience. Through The Gallery, Unifty is bringing DeFi into the digital art exhibition and viewing process by rewarding and involving all community participants, from creators, collectors and art lovers to organizations.
Initially, creators will be able to hold shows in The Gallery for 30 days, with the opportunity to sell their work by exhibiting their NFTs. However, in a unique twist, they are guaranteed a yield from simply hosting visitors to their collections.
Similarly, collectors can exhibit their NFT collections and earn a yield. Unifty community members who visit the exhibitions also earn from their participation as art lovers. Much like DeFi, the ecosystem rewards participants no matter what their role is on the platform.
The Gallery’s aim is to both rectify the imbalances inherent in the creator-gallery relationship and to elevate the experience of engaging in the NFT landscape through the use of DeFi-type incentives.
How does it work?
Unifty leverages its dual-token structure to reward all participants in its ecosystem. Unifty’s NIF token is the platform’s governance token. Holders are able to vote on which creators or collectors are chosen to exhibit in The Gallery and vote more generally on the direction of the platform.
NIF holders can also stake the tokens in the exhibitions they like. By staking NIF, community members share earnings in the yield generated by the exhibition. That yield is determined by several…
