With the rapid rise of the Meme coin track, the NFT market has also ushered in new changes. As an innovative NFT issuance platform, Mint.Rich is setting off an NFT craze that everyone can participate in. Its simple operation interface and unique price curve design allow anyone to issue and trade their own NFTs with a very low threshold, thereby participating in this emerging market.
What is Mint.Rich?
Mint.Rich is a next-generation Meme NFT issuance platform built on Mint Blockchain. Users do not need a professional development team. They only need to select pictures, names and set quantities to issue their own Meme NFTs with one click, and immediately start market transactions through the price curve mechanism. This convenient operation greatly reduces the technical and time costs of NFT issuance, allowing more users to participate easily.
Mint.Rich's core features include:
- One-click publishing of Meme NFT price curve mechanism
- Built-in NFT marketplace and proprietary NFT liquidity
- Meme NFT Market Trend Analysis
- Invitation Reward Mechanism
Mint.Rich's core highlight: unique price curve mechanism
Unlike the traditional NFT market, Mint.Rich uses a unique price curve mechanism. The NFT issuance price starts at $0.01, and the price will gradually increase as the sales volume increases. This design not only lowers the entry threshold for early participants, but also provides potential for the value growth of NFT.
Mint.Rich uses two different price curve designs, one for ERC721 and one for ERC404 standard NFTs.
- Price Bonding Curve (ERC721)
Mint.Rich uses a sigmoid boundary price curve to price each ERC721 NFT. This curve is carefully designed to ensure that the price of NFTs gradually increases as the purchase volume increases, and early buyers can enjoy lower prices.
Mint.Rich chooses the sigmoid boundary curve above to price each ERC721 NFT in the meme collection. Curve formula:
This is a good way to achieve the trend that as NFTs are continuously sold out, the Token Supply increases and the price rises along the curve. Below are some examples showing the price of the xth NFT of ERC721.
Startup process:
Under the ERC721 standard, when users purchase NFTs on the Mint.Rich platform, the price starts from a low level and gradually rises. For example:
- The initial minting price is 0.000105ETH, and the final price is about 0.0019ETH
- When a total of 10,000 NFTs are minted, the platform will receive 10 ETH of revenue, of which 9 ETH will be automatically added to the purchase pool.
- The platform will charge a 10% fee from the total revenue
- Price Bonding Curve (ERC404)
Similar to ERC721, Mint.Rich also uses an S-shaped price curve mechanism for ERC404 NFT. Under this model, the price of NFT will gradually increase with each purchase, and early participants can mint NFT at a lower cost.
Mint.Rich chooses the sigmoid boundary curve above to price each ERC404 NFT in the meme collection. Price Bounding Curve (ERC404) Curve formula:
The sooner you buy, the cheaper it is.
The core concept of this unique price curve mechanism is: the earlier you buy, the lower the cost. Taking ERC404 as an example, the initial minting price is 0.000105ETH, and the final minting price can reach 0.0019ETH, which is 19 times the initial price.
Startup process:
Under the ERC404 standard, when users purchase NFTs on the Mint.Rich platform, the price starts from a low level and gradually rises. For example:
- The initial minting price is 0.000105ETH, and the final price is about 0.0019ETH
- When a total of 8,000 NFTs are minted, the platform will receive 8 ETH in revenue, of which 7.2 ETH and 2,000 NFTs will be automatically added to the liquidity pool.
- The price of the liquidity pool is about 0.0036 ETH (equivalent to 36 times the initial price), and users can freely trade these NFTs on decentralized exchanges (DEX)
- The platform will charge a 10% fee from the total revenue
This mechanism provides huge financial incentives for early investors.
Supplement: Why ERC404?
The ERC404 standard is an innovative protocol that aims to combine the advantages of tokens and NFTs. Unlike traditional NFTs, ERC404 not only has the transaction properties of ERC20 tokens, but also allows users to convert the characteristics of NFTs by holding enough tokens. This means that the image content of NFTs is no longer fixed, and users can replace or exchange them at any time according to their needs and preferences, which greatly increases the fun of participation.
Summarize:
Mint.Rich's unique price curve mechanism makes NFT transactions on the platform have a low initial participation threshold and provides long-term value-added potential for NFTs. By combining the two standards of ERC721 and ERC404, Mint.Rich not only provides a diverse NFT trading experience, but also creates more innovative gameplay and economic incentives for users. As the platform develops, this new mechanism will attract more users to participate and drive the NFT market into a new growth stage.
