NFT
Navigating the NFT Market Safely with Itheum Protocol
Monday. September 2 at 11:00 PM
1 min. readThe NFT market is projected to reach over $3.3 billion in revenue with 16 million users by 2028. NFTs, unique digital assets on a blockchain, represent ownership of specific items like art and music. However, the market's growth has attracted fraudulent activities, including rug pull scams and fake auctions. To address these concerns, Itheum Protocol has introduced the Liveliness mechanism. Creators bond ITHEUM tokens to earn a Liveliness score, indicating their commitment and trustworthiness. The score decreases over time but can be renewed to maintain credibility. The Protocol Curation DAO monitors for bad actors and rewards users with staking incentives based on their Liveliness scores. Additionally, Itheum Protocol offers NFMe ID Vault Data NFTs and BiTz XP to enhance user engagement and credibility. These innovations set a standard for trust and transparency in the NFT market, ensuring a secure environment for digital asset trading.