It is becoming increasingly popular for people to hold unique digital assets called non-fungible tokens, or NFTs. These tokens live on blockchain platforms, and you can use them in various ways.
However, there has yet to be a definitive way to connect NFTs with the real world. Boui is a new project coming from Southern California looking to change that. Today’s review will look specifically into Boui’s offer to this growing sector.
What Is Boui?
Boui is an upcoming non-fungible token marketplace focusing on physical goods and collectibles. The platform runs on blockchain technology, allowing for increased security and transparency. Boui will also use smart contracts to facilitate transactions and protect the rights of buyers and sellers.
The marketplace wishes to be user-friendly and will offer a variety of features that will appeal to collectors and investors. The subsections below provide more details about this matter.
The fact that respectable suppliers and producers have expressed interest in Boui is another crucial factor to take into account. This will open up new opportunities for collaboration on the project.
Connecting NFTs to the Real World
The project connects NFTs to the real world by providing a way for people to purchase NFTs with multiple devices. In addition, the team aims to create a community around the use and exchange of NFTs. To do this, they will host events and gatherings worldwide.
The goal is to bring people together to discuss the use of NFTs. These events are also a good way to exchange ideas and build a community around this new technology.
Networking is a vital part of the Boui initiative. In this sense, the team plans to use this strategy to make a stronger community around NFTs.
A Better Understanding of Boui’s Marketplace
Boui’s marketplace differs from other NFT marketplaces because it offers a more personal touch. You can browse through collections of NFTs and select the vendor you want to purchase from. There are two things you can do on the platform:
- “Boui” your NFT: Re-list your NFT for sale on the marketplace
- “Burn” your NFT: Get your physical item priority mailed to you
This marketplace is a new way to get your hands on some of the most sought-after NFTs. If you’re looking for something new and exciting, you can choose to check out Boui’s marketplace.
One of the most original features of this project is, as you can easily understand, the “Boui” feature. The functionality lets you store your physical asset at one of the project’s secure and insured climate-controlled storage facilities. This is an excellent option for those wishing to keep their assets safe without worrying about shipping or anything else.
The Chance to Join the Crypto Staking Craze
Boui’s staking mechanism is one of a kind. Locking up your tokens for a while allows you to earn a piece of every sales fee on the marketplace. The longer you stake, the more you earn, as the team explained on its website.
Staking is the new hotness in crypto as investors look for ways to earn a yield on their digital assets. Platforms like Ethereum and Cosmos have staking mechanisms built into their protocols. This choice allows users to lock up their tokens to help secure the network and earn rewards.
Boui’s staking system is similar to these other platforms but with a twist: it lets you use Boui tokens on NFT airdrops that regularly happen on the marketplace.
Boui represents a way to enter the growing crypto-staking phenomenon with a project that is still in its early stages.
The Project’s Token and Economics
If you are not new to cryptoland, you will have a general understanding of the importance of a project’s tokenomics. For the uninitiated, a project’s tokenomics refers to the economic model underlying the issuance, distribution, and circulation of its token.
This is an important aspect to consider when assessing any crypto asset. Specifically, it will directly impact its price discovery and, ultimately, its value. With that said, let’s take a closer look at the tokenomics of Boui.
The Boui token will enable this team to power the ecosystem of their project. The team chose to divide its total supply among the following groups:
- Liquidity: Most of the tokens will go to provide liquidity on exchanges. The team believes this will help price discovery and promote a healthy secondary market for the token.
- Development & Artist Partnerships: For an NFT project, it is crucial to constantly stream new and fresh content. The team has set aside a significant portion of the supply for partnerships with artists, developers, and other content creators. This will ensure that something new and exciting happens in the Boui ecosystem.
- Marketing operations: We cannot stress enough the importance of a good marketing strategy for any project, especially in the early stages. Consequently, the team has set aside a reasonable amount of tokens for marketing purposes.
- Staking: As previously mentioned, staking is vital to this project. A certain amount of tokens will help Boui build a pool for the staking rewards.
- Launchpad: The team plans to use a portion of the tokens for a token launchpad. This will help them further decentralize the project and give more power to the community.
- Team: Finally, the team will keep a small percentage of the tokens. This ensures they have a good incentive to continue working on the project and delivering results.
As you can see, the Boui team has carefully considered how to distribute its token supply of 11 million tokens. This shows they are committed to creating a healthy and sustainable ecosystem for their project.
A Deeper Look into the Team’s Roadmap
Every new crypto project should have a clear and concise roadmap. The Boui team has done an excellent job communicating their plans for the future. Here is a quick rundown of what they have planned.
Phase “Beta”
The project aims to help people looking to invest in NFTs get a better understanding of the risks involved. The beta phase of the project featured the audit and KYC process and the test net marketplace. By providing a test net marketplace, the team launched a safe environment for users to experiment with trading NFTs.
Furthermore, the KYC and audit phase proves this team’s commitment to being a responsible and safe investment platform.
Phase One
The team will be ready for its ILO launch, providing the funding necessary for the marketplace site development. With phase one complete, the team can move on to building a more secure and user-friendly platform. The goal of this operation is to appeal to a broader range of users.
Phase Two
In the team’s plans, phase two features a marketplace allowing people to buy, sell, or trade their Boui NFTs. The team is also planning its first in-person event, representing a new way for people to interact with the project.
Phase Three
The third phase will see the Boui community benefiting from the ecosystem much more significantly. Specifically, token holders will receive a percentage of every transaction made on the marketplace as dividends.
This is an incredible development as it means that those holding Boui tokens will benefit directly from the platform’s success. The operation provides an additional incentive for people to use the marketplace. Namely, they will be able to earn tokens simply by making purchases.
In addition, the team will complete the burning operation of 25% of its supply. This means that they will burn one token for every four tokens sold. This operation aims to reduce the overall supply of Boui tokens and increase the value of each coin.
The third phase is an important one for the Boui community. During this phase, the platform may indeed begin to take off and become a significant player in the NFT space. This, combined with the burning operation, could lead to serious gains for those holding Boui tokens, according to the team.
Phase Four
The last phase in the team’s roadmap is to open the Metaverse store. This is a store that will focus on selling NFTs.
All the NFTs sold in the store will come with a 3D version that anyone can use in the Metaverse. This will allow people to own assets in both the real and virtual worlds. The team expects this phase to occur in 2023.
Final Thoughts – A New Connection Between NFTs and the Real World
The ambitions of this project are clear. The team wants to create a new way for people to interact with NFTs. They want to provide a service that helps people invest in NFTs responsibly. Furthermore, they want to do all this while providing a service that is easy to use and accessible to everyone.
In general, only the market can decide if this project will be successful. However, it is clear that the team has put a lot of thought into their plans. They have laid out a roadmap that makes sense and provides a clear path to success. If they can execute their vision, Boui could become a significant player in the NFT space.
For more information on Boui, the project’s website contains more information about this new initiative.
