It is not often that NFT platforms come into play that offer the value of tangible utility that can be harnessed quickly. Enter EarnX, a subsidiary of Yearn Classic Finance that looks at NFTs in a whole new way. EarnX uses RFID technology and the interdependence of blockchain technology to revolutionize NFTs. They started the EarnX NFT Gallery and are working on topping up the gallery with a community-oriented approach.
RFID integration allows physical products to be integrated with NFTs across the gallery. Since EarnX is a community-based token, the community has the opportunity to vote for products and participate in auctions.
The EarnX token
A big advantage of the EarnX token is that it is deflationary – it allows you to earn more while your tokens are in place. The token carries voting rights, influences and influences which products and artists join EarnX, and emphasizes scarcity, stability and usefulness.
In order to counteract price manipulation, the token is also taxed with a tax of 10% on all transactions. 5% flow into a liquidity pool that is blocked for four years. The other 5% go back as a weighted distribution to token holders and the burning address. Building on BSC, EarnX also offers low gas fees and continuous burning, which enables price stability and use case benefits while encouraging long-term owners to keep going. The liquidity of the log is particularly secure thanks to a partnership with DxSale.
The team has also released a forward-looking roadmap that will focus heavily on NFTs in the coming months. In another announcement this week, the EarnX team announced that NFAXE will be a Q3 project; NFAXE is a physical ax and paired NFT that will be sent to the winner of the NFT. Another project, NFCarpet, was also shared by Earn’s team.
Fresh from the news
EarnX is also hot off the press with a partnership announcement with Bella Protocol earlier this month. The partnership aims to explore three main areas: delivering premium NFTs backed by physical art in the DeFi field, community collaboration, and researching innovations around NFT mining, dynamic NFTs, and NFT airdrops. In a statement on the partnership, EarnX co-founder Marcus King also stated that there will be a “dedicated Bella Protocol Physical NFT Collection” in the future.
The EarnX token was also added as a supported token on Bitrue earlier this month. Bitrue users can now trade the EARNX token with USDT and XRP. EarnX is also a pillar in the DeFi and NFT landscape of the Binance Smart Chain. With ongoing partnerships and engagements brought to life, EarnX aims to continue to be aggressive with the growing DeFi and NFT landscape.