Sonic Gnomes Hybrid NFTs
Sonic Gnomes a 1,500 piece hybrid NFT/Token project on Sonic changing the NFT game as we know it!
Last updated
Sonic Gnomes a 1,500 piece hybrid NFT/Token project on Sonic changing the NFT game as we know it!
Last updated
Each Sonic Gnomes NFT is backed with 1,000,000 $SGNOME tokens and users are able to swap their NFT for $SGNOME tokens and vice versa at any time. Since each NFT has a liquid value backed in $SGNOME tokens, the price of the NFT and the token are linked together. Simply put, if the price of the $SGNOME token goes up, so does the liquid value of the NFT. Solving the problem of liquidity in the NFT space by linking an NFT and a token together, this system offers many benefits to users. For example if a user owns an NFT and they would like to sell it, they can simply swap their NFT into $SGNOME tokens and sell into the liquidity pool, just like with any other token.
Better yet, if a user would like to sell their NFT without hurting the $SGNOME chart, they can simply list their NFT on an NFT marketplace and liquidate their holdings OTC (Over-The-Counter). Users also have the option to enter into the NFT economy by purchasing $SGNOME tokens off of the market and then swapping them into an NFT. This helps the system by soft-locking supply and reducing circulating supply of the token.
