Scratch Platform is Helping to Take NFTs Mainstream
Non-Fungible Tokens (NFTs) are growing in popularity seemingly exponentially on a daily basis. From Tweets to exclusive artwork, the metaverse has a new resident and it looks like NFTs are not only here to stay, they very well could be a good investment.
Whereas just a few months ago it may have seemed like this would be a passing fad, NFTs are going mainstream and it seems like almost every day some new celebrity or corporation is coming out with their own NFT or revealing that they purchased one.
Shawn Owens, Co-founder of Scratch, says, “The crypto economy has seen incredible year-over-year growth as an industry, even just in the first month of 2022 – especially NFTs. But one could argue that even Bitcoin isn’t truly mainstream yet. That said, NFTs are really only a subset of the overall crypto market, accounting for roughly 1% of it.”
However, even though NFTs are popular and here to stay, actually knowing how to purchase them, their value, and where and how to get NFT loans hasn’t really been a simple endeavor. Well… Scratch Engine is THE solution!
“Well before the existence of any standardized Metaverse where NFTs would continue to flourish – NFTs have already been adopted by the masses, are part of the popular vernacular, and are being used in everyday life” Owens explains.
“Travel tickets, event passes, in-game items, and other digital collectibles and assets are already making use of NFTs with an attached contract and relative value. In the end, that’s where the NFT industry is at, though, educating people to realize that these are ultimately digital versions of the Pokemon and Magic the Gathering cards they already understand. It’s no different than transitioning from snail mail to email,” Owens elaborates.
Not only does the Scratch Platform provide accurate real-time NFT valuation, NFT storage, and even NFT loans, their Scratch Engine has a real chance at setting the bar really high for this industry. It leverages multiple public tools, utilities, and transactional history along with a purpose-built algorithm that compiles all available data.
Best of all, the Scratch Platform is a single, simple-to-use, interface that delivers an accurate scoring report along with a current Market Value assessment.
Scratch is the ‘Kelly Blue Book’ of NFTs
When it comes to accurate NFT valuation, it has pretty much been a “whatever someone will pay for it” sort of system. Scratch Engine provides a concise report that scores the NFTs in order to give you an unbiased market standard assessment.
This feature lets you research, assess, borrow against, or sell your NFTs with ease and resting easy knowing that you have accurate NFT valuation and not just what the seller says it’s worth.
Scratch Nixes Delays
Scratch wants investors like you to be able to swiftly take advantage of opportunities in the market and eliminate delays between your centralized banking provider and the decentralized finance (DeFi) system.
To accomplish this, Scratch offers NFT loans with flexible terms and low transfer fees with 5 – 45 days payment terms. As collateral, Scratch, or its network partners, will hold onto the NFT until the NFT loan terms are met.
Other NFT Loans
If you find yourself needing a little funding but you’re not ready to sell your NFT, a Scratch loan could be perfect for you. They offer NFT loans with your digital assets used as collateral. There are multiple repayment options available that offer flexible repayment and while you’re paying off the NFT loan, your collateral is placed in the Scratch Vault.
The Vault
If you use your NFT as collateral for loans from Scratch, their Partners, or even 3rd party providers, you can securely store your digital asset in the Scratch Vault. Additionally, while your NFTs are stored in the Scratch Vault, they are secured and insured to prevent loss of value.
Scratch Token
The Scratch Token is the genesis for the entire Scratch Platform ecosystem as it is used for all transactions and will enable you to buy, sell, and stake the Scratch Token. Each time you use a Scratch service it feeds revenue back to the Scratch Token and since it will be listed on multiple exchanges, it could be a great investment opportunity as well.