Alright, here’s the thing; I’m not about to shill ‘the next 100X gem’ to you. well, not literally, but probably. The crypto space has been buzzing for the past couple of months, lots of audacious moves…price wise. Things are getting really lucrative and the sudden attention cryptocurrency and blockchain technology are generating should come as a very little surprise. Tons of new projects, existing projects haven’t relented a bit too. The current bull market is proving to be a lifetime experience! It’s been a wild ride so far and I’m sure you’re swimming in the tide too; you should!
Defi, NFT…memes; while dogecoin is winning the meme game, many new cryptocurrency projects are revolutionizing decentralized finance (DeFi) and the use of Non-fungible tokens (NFTs). DeFi and NFT projects have minted new millionaires as investors hit face melting returns on investment. Bitcoin’s market capitalization may have soared to over $1.3 trillion and Doge’s dramatic run might have also caught your attention, but NFT projects are also running riot! I’ve always been an ardent fan of DeFi I’ve been farming a lot recently; feel free to call me a farmer, lol.
NFTs haven’t really impressed me so much. A bubble, a boom; to be frank I’m not sure which one fits it more. But regardless of how I feel about NFTs, their financial viability is unarguable. NFTs are unarguably a clever and very important concept. Over the past two years, the market capitalization of NFT project have tripled.
I just stumbled upon an impressive NFT project and weird enough, I’ve not really paid much attention to NFT projects up until now. I promised not to be shilly, but I might have to go against that promise…sorry!
Pioneered by an enthusiastic community, Hypergalaxy is about to revolutionize the NFT sector! Running on the Binance smart chain, the Hypergalaxy project and its community are building a fertile ecosystem for Non-fungible tokens. A fair ecosystem which gives everyone an equal chance and opportunity. The NFT space has been pretty much championed by the crypto-rich investors. Blowing outrageous fees on every piece of art. Full participation in the NFT wave hasn’t really been an easy ride for low and medium budget investors. A good number of low budget investors have since ignored the NFT wave while others scout for the cheapest digital asset. I’m yet to own any NFT due to this, but that might change soon!
You’d wonder; Why am I so excited about this project? I’ll tell you…
A Truly Community driven project
A couple of cryptocurrency projects throw the word ‘decentralized’ around their governance model, with the concept of DAOs and ‘community led’ projects springing up around new and existing projects. Decentralization is usually presented as an administrative and technological strategy which shifts the power of decision making and decision to the majority and makes for a perfect consensus system of governance.
It’s exciting what this concept promises, right? But yes, it all glitters but sometimes it is not what it appears to be. Most cryptocurrency projects which throw decentralization around their procedures are still stuck in the cage of centralization and what the present as ‘perfect decentralization’ is just an edited and ‘shiny centralization’. The team still rules and decisions are made by the very few. Cryptocurrency projects have struggled to achieve the kind of decentralization they boast of, both administratively and technologically.
Hypergalaxy has developed some cool plans for NFTs, but their community governance model impressed me first. Community owned projects aren’t a very popular concept in the crypto space anymore. Most early cryptocurrency projects practiced true communalism and exhibited fairness in participation opportunities, an important factor in the survival of early cryptocurrency communities.
Hypergalaxy’s governance model puts the community first. An excerpt from the project’s whitepaper reads:
It is intended that as the community grows, matures and the networks solidify, governance will be handed over entirely to the community. Governance here means direction of marketing campaigns, new partnerships and multiple decentralized application developments which can work in tandem with the already established NFT marketplace. However, the progress and direction given by the team at any point cannot be reversed. Already established projects cannot be decommissioned by the community.
‘Put your money where your mouth is’; not financial advice, but that’s what I would do…I already did!
The NFT revolution
NFTs are a complex concept, but an even bigger hurdle is getting your hands on an NFT you really desire. To save the whole stress, most investors settle for the less while the rich investors stack the interesting digitally signed asset(s). If you don’t have $64 million dollars to buy beeple’s art, or $2 million to buy Jack Dorsey’s first tweet; then you’ll have to settle for some way cheaper and less important Non-fungible tokens. Accessing quality NFTs is becoming a losing game for the greater number of cryptocurrency enthusiasts; Hypergalaxy is about to fix this!
Hypergalaxy is building a simplified, yet robust NFT marketplace with a user-friendly interface which presents users with the easiest way to buy and sell NFTs from prestigious digital asset creators. Hypergalaxy’s NFT marketplace will create an impartial avenue for NFT collectors to purchase authentic digital assets and also auction their creations. It excludes undeserved reservation for high-budget collectors and offers increased utility for NFTs. Hypergalaxy’s ecosystem will feature an NFT betting platform and features which will promote increased social use-cases for NFTs. One to watch out for!
One token to rule them all
Hypergalaxy’s ecosystem is powered by $HYPE, the project’s traditional token. Well, I must say it’s truly worth the HYPE. To support the high demand which is expected to follow Hypergalaxy’s products, the project is issuing one quadrillion (1, 000,000,000,000,000) tokens. 25% of these tokens will be sold at presale to raise funds for further development of the project. The presale hardcap is 50BNB with about 50 presale slots available.
40% of the total supply will be burnt after launch
About 10% will be reserved for development fund and project marketing while 25% will be used to provide liquidity. Hypergalaxy’s tokenomics features an automated holders’ reward and liquidity system. Each $HYPE transaction incurs a 10% taxation. The taxed fund is used to incentivize holders and also add to the liquidity pool. 50% of the tax is used to incentivize holders while the rest goes into the liquidity pool, automatically. By this, mere holding the HYPE token earns you royalties. Worth the HYPE? I think so!
Hypergalaxy is yet to go live. Token presale is scheduled for 7th May. Whitelisting process is ongoing and is set to end on the token presale date. With tons of investors jostling for the whitelisting slots, it will be hard to say if the slots will be available for every applicant. However, the team plans to list first on Pancake swap.