NFTY Network NFTY

What is NFTY Token?

NFTY is the native token of the NFTY network, which is a cross-chain Web3 authentication layer. The network can be used for access management, subscription services, and loyalty incentives. Overall, NFTY seeks to improve Web2-based applications. While Web2 uses the conventional username and password authentication technique, NFTY leverages Web3 public key signing.

By automating the usage of NFTs and other digital assets as demonstrable keys to access metaverses, gated content, experiences, communities, and much more, NFTY enables verifiable ownership for digital assets. Besides, NFTY holders profit as owners of the ecosystem currency. Check out the current NFTY token price chart above.

Use Cases of NFTY Tokens

NFTY is an ERC-20-based utility token. The following are the main use cases of NFTY tokens:

• Covering network fees;
• Rewarding network users;
• Staking NFTY tokens to receive rewards;
• Voting on how network resources should be allocated.

Who Founded NFTY Network?

Digital Lawrence, Tytaninc, and Kevin Caffrey founded NFTY Network. Before creating tools to promote NFT usefulness across layer 1 and layer 2 chains, the three founders collaborated on previous projects for years in the crypto sector.

Tokenomics of NFTY Network

NFTY has a max supply of 1,456,240,353 tokens. In terms of token allocation, 45.5% of tokens were allocated to the DAO foundation, 18.2% were assigned to the team, 13.7% were allocated toward the ecosystem, and the public received 8.2%. Besides, private consumers received 6.7%, advisors got 3%, and the DEX received 1.4%.

Don't forget to check the NFTY token price chart. It features the main changes in the NFTY price.