Pi Network, a mobile-based cryptocurrency mining platform, has announced the launch of its first NFT marketplace, Pi NFT. The platform is powered by Pi Chain Mall (PCM), which is registered in the 2023 Hackathon. Pi NFT allows users to buy, sell, and create digital collections using Pi, the native currency of the Pi Network. The marketplace is designed to provide creators with authenticity, originality, and compensation while offering greater transparency and security through its Decentralized Autonomous Organization (DAO). Pi Network aims to educate its community members, or “pioneers,” globally about NFTs and enable creators to earn rewards for their digital collections.
— Pi-NFT Marketplace (@PiNFTMarket) March 3, 2023
Creators on Pi NFT can set up a 5% copyright tax for their collections, which incentivizes them to produce high-quality and unique digital collections, rewarding them for their efforts. This feature is expected to attract more creators to the platform, leading to a wider range of NFT collections for buyers. The platform is designed to enable secondary market sales when the Pi open mainnet is live, allowing for greater liquidity and accessibility for buyers and sellers. Its interoperability with secondary NFT marketplaces will make it easier for buyers to access rare and unique NFTs while also providing an opportunity for sellers to earn more from their collections.
The launch of Pi NFT is expected to have a positive impact on the Pi Network’s overall value as it offers a wider range of services and features, providing more opportunities for users to engage with the platform. Pi NFT’s innovative approach to its parent network, low transaction fees, and diverse range of NFTs are set to revolutionize the world of NFTs and create new opportunities for creators and buyers alike. The marketplace’s focus on energy efficiency and environmental consciousness makes it a more sustainable option in the NFT market. With over 15 million engaged users across the globe, the launch of Pi NFT marks an exciting new chapter for the Pi Network.