What is Talken?
Talken is an all-in-one NFT platform that provides users with a multi-chain NFT wallet. The project is often referred to as the first NFT ecosystem that is looking to introduce more people in South Korea to NFTs. K-Pop stars, movie stars, artists, and influencers can all use Talken to mint, trade, auction, and exchange their own unique NFTs. Because of the popularity of these stars, many of their fans are using the Talken platform to engage with the NFT collections of their favorite celebrities.
Transactions on Talken are carried out using TALK, the native token of the platform. You can check the current TALK price on the Talken price chart above. The Talken crypto platform is interoperable with blockchains like Ethereum, Binance Smart Chain, Polygon, Solana, and others. Besides that, Talken can be connected with other NFT protocols like OpenSea, Rarible, NFT Hero, NBA Topshot, and so on.
The Team Behind Talken
Even though Talken is governed by a decentralized autonomous organization (TALKENDAO), there is a team working to expand and grow the platform. The team is headed by Ju Minsu who is the CEO of Talken. He's also accompanied by Nahm Hyunwoo and Kim Kyunymin. Together they have worked hard to bring partnerships, creators, and investors to the Talken ecosystem. The TALK price has increased as a result of this growth, as Talken became an NFT platform that has one of the largest communities in South Korea.
Use Cases of TALK Tokens
TALK crypto tokens provide users with the ability to participate in the governance process of the project, take part in NFT sales and auctions, pay transaction fees, and much more.
In terms of governance, when a user wants to become a member of TALKENDAO, they have to stake their TALK crypto tokens to get vTALK tokens. vTALK tokens can then be used to vote on proposals and decisions that have effects on the future development of the Talken crypto project.
Besides that, NFT creators in the Talken ecosystem have to use TALK coin to pay for minting their NFTs. However, they receive a portion of the revenue (paid in TALK) generated from the sales of their NFTs.
TALK Tokenomics
On April 27, 2021, 500 million Talken tokens were issued setting the maximum supply of TALK to that exact number. The tokens were sold during public and private sales, distributed to the partners and team, set aside for marketing purposes, and added to the Talken reserve. Though some of these tokens were locked up, as it's intended to put them into circulation gradually. This is done in order to prevent a sharp decrease in the Talken price that might happen as a result of large sell-offs.
