Mining the Next NFTfi’s Treasure Trove of Data Value Measurement and Circulation

DeNet is a multi-chain ecosystem that offers fully decentralized storage based on DeFi tokenomics and monetization services for every participant, be it miners, developers, content creators or users. At present, the product ecology is relatively sound. The DeNet storage service is fast, secure, and relatively user-friendly.

As a mature NFT storage scheme, the protocol has a convenient and secure storage environment and advanced management functions. Users have access to the entire Web3 world from DeNet Desk and the ability to customize the list of applications and seamless one-click blockchain switches for each network. DeNet Pass is an advanced defense wallet that allows users to make payments by downloading files from the DeNet ecosystem.

DeNet is growing in user numbers and network value.

NFT+DeFi combination requires a new storage paradigm

Over the past year, a number of new decentralized storage protocols have emerged. While there has been considerable growth in NFT activity, most NFT ecosystems lack native interoperability. Programs like Strip Finance, Banksea Finance, Drops DAO, and Unbanked are all offering some form of NFT supported loan service.

The real reason behind this is that users are seeking higher Alpha and liquidity while holding large amounts of NFT assets. The mechanism of NFTfi (NFT Finance) is very simple at present. Like traditional peer-to-peer lending markets, platforms make money from all the interest they earn on lenders. NFTfi’s business model is more akin to a pawn shop or subprime loan business than a bank.

Source: DeNet

The decentralized storage solution will help users link ownership to revenue tokens and contribute to the development of DeFi credit scores. In addition, NFT storage solutions representing user identities will also simplify the user entry process, especially on financial platforms.

In addition to being highly efficient, the DeNet decentralized storage network is attempting to integrate Web 3.0 with NFT and provide a user-friendly interface. DeNet’s principle of simplicity, intuition, and constant optimization ensures that network miners, developers, and individual users can easily and easily access a decentralized storage network for a fraction of the cost.

NFT asset reuse takes the maximization of individual value as the first principle

Currently, NFT assets lack a wide range of ways to generate revenue. DeNet aims to revolutionize the expanding NFT market, enabling owners to generate revenue from their otherwise obsolete NFT assets and enabling tenants to use a variety of NFT in their experience rather than being limited to owning a single asset. DeNet will change the way we deal with digital assets, opening the door to true ownership forever.

DeNet opens up endless new financial markets for people to participate in, democratizes the industry and gives creatives, collectors, gamers, artists, amongst others, entirely new ways to promote their passions. DeNet aims to create a completely decentralized market, with clear and transparent financial incentives for developers and users to pay a minimum amount and only for actual use of the storage network. Whatever the type of asset, everything can and will be tokenized.

Source: Dune Analytic

Even in the future, we will hopefully see people earning passive income by lending assets and data in some way. DeNet implements independent monetization of creator content through Open Economy 3.0, and can be embedded into other projects’ economic models for interaction between content authors and consumers, minimizing the cost of content consumption for users.

Unlimited security and capacity

Censorship, high commissions, and a lack of transparency hamper the efficiency of data markets. DeNet directly reduces security risks through its system design. More specifically, DeNet did not seek to use a high-cost strategy to provide a complete alternative in the free market to the cumbersome KYC/AML procedures of centralized entities.

Instead, they attract developers to transition to decentralized, free development environments. Any existing data center can participate in DeNet’s network, including as a miner and as the Internet economy grows.

In DeNet, any app developer can profit from their app, just as iCloud Drive profits from each user and each file. Moreover, the Internet is becoming increasingly vulnerable. Users must use VPN services to access certain resources. But DeNet is highly resistant to censorship. No firewall or filter can track the data exchanged between DeNet nodes. Users can access the content hosted on DeNet wherever they are connected.

Source: DeNet

The launch of DeNet Pass can also protect users from phishing attacks. With DeNet Pass, users can also see the number of users of the current version of the site and its version list to ensure that the site has not been modified. If the user doesn’t like the latest version update from the dApp team, the user can still choose the version they used last time.

Storage is only the first step

DeNet’s use of decentralized storage technology for NFT data can further stimulate the full availability of NFT. Polychain channel helps to move the NFT from its main network to another main network. This means that NFT is kept within the distributed DeNet ecosystem, but can be scaled across other blockchains. This is done not only to save transaction costs, but also to improve blockchain performance and scope of use cases.

Source: DeNet

Placing NFT assets in DeNet storage provides additional Alpha benefits, such as the ability for users to earn revenue in NFT collateral and manage access to NFT data. If the asset is particularly valuable, users can lease the NFT to others or use it as collateral. At the same time, massively integrated NFT storage services can benefit users who use NFT data in a large number of areas, including games, meta-universes, streaming services or art platforms.

In other words, users can have complete control over any service of their NFT based on DeNet. The economics of Web 3.0 must be based on the authors themselves who create and profit from the content and have complete control over its distribution channels. Users on DeNet networks can fully unlock the potential of NFT and significantly improve network efficiency, as well as substantial cost savings for end users.

Scarcity value of users

In my opinion, NFT value = foundry value + ownership scarcity value + future value + liquidity premium. Currently, the core value element we see pursued by a large number of NFT projects is scarcity value. However, the current NFT market is not yet mature, and obtaining “one of the first NFT created by human beings” obviously has high historical value, but this value obviously has the pain point of closure and low circulation.

DeNet has great potential by bringing value to NFT as a DeFi asset. At a very basic level, the incentive structure of the DeNet system must be strong enough not only to attract a sufficient number of network participants to actively guard millions of transactions across many different chains, but they must also have the skills and incentives to properly monitor the network.

This is why a simple and comfortable user experience is important for the future of the NFT market. Until now, Opensea, Metamask has made NFT adoption much easier, but publishing and managing NFT and collectors enjoying their NFT utility remains tedious and sterile for artists and general users alike. As a result, there is still plenty of room for DeNet’s one-stop experience in publishing, managing, and storing NFT.

By Kyle, Investment Manager@Bing Ventures