On May 5, 2022, Emerging NFT platform, Spume, announced the ICO of their native $SPUME token on the KuCoin cryptocurrency exchange thus making it available for public sale. Let’s find out why Spume is the future of digital and physical assets trading without the mediation of third parties.
Enter Spume – whose vision is the complete removal of all intermediaries that prey on individuals during the trading of digital and physical goods.
What is Spume?
Spume is an NFT marketplace that replaces the need for intermediaries and their fees with smart contract technology. The platform’s activities cover a wide range of markets, which means that everything from works of art to real estate can be tokenized and sold on the Spume trading platform.
SPUME is a native NFT token of the Spume marketplace, which will be used for operations within the platform, as well as for distributing the proceeds from the sale of NFT among all token holders.
|Protocol||ERC20 Open Zeppelin|
|Issue volume||100 000 000|
Due to smart contracts in the Ethereum network, the SPUME token will participate in the automation of transactions by putting aside every intermediary who charges unreasonable service fees. The ultimate goal is to allow users to buy and sell their property with the lowest possible service fee.
From each transaction, Spume collects 2.5%
Instead of charging huge percentages for transactions, the NFT marketplace Spume sets a fixed service fee of 2.5% for any transactions. This service fee may be changed by the decision of the DAO.
The profit in the form of 2.5% is distributed among the holders of the SPUME token.
All income received on the Spume trading platform is distributed equally among all holders of SPUME. The marketplace team will not charge any additional fees except for the fixed 2.5%.
Thus, Spume creates a transparent and fully community-driven marketplace that allows one to tokenize and trade property with minimal costs for all parties to the transaction without intermediaries, banks, or dishonest businessmen.
What can people sell on the Spume marketplace?
Today, the Spume platform covers three main markets: the real estate market, the NFT art market, and the digital intellectual property licensing market. Soon it will be possible to trade other assets since any item in the digital and real world can be tokenized.
Real estate without intermediaries
Spume, which is based on blockchain technology and smart contracts, offers real estate tokenization services that fully automate the escrow process. It allows one to reduce service fees for owners and buyers of real estate.
The real estate sale process will consist of 2 stages:
- Tokenization: first a legal audit of the property, then an NFT “minting”, which will list descriptive and legal data about the property, including value audits, reports, images, and even videos. All this will be a kind of “database” of real estate.
- Sale on the marketplace: The property will be offered for sale as an NFT with a pre-set price. During the sale, the price will change depending on market conditions and demand for the property. The buyer of such an NFT becomes the owner of the property. All legal aspects of the transaction will fully comply with US legislation regarding reporting and transfer of ownership.
The first main area that the Spume marketplace will focus on is the purchase and sale of residential buildings using Ethereum stablecoins. The marketplace will simplify the transaction from start to finish by automating escrow, minimizing the use of real estate agents, and reducing the number of documents confirming ownership.
In addition, Spume creates 1) its own lending service based on stablecoins, and 2) the opportunity to get a crypto loan based on a real estate up to 120% LTV. More information about the tokenization, mortgage, and loan process is contained in the Spume White Paper.
NFT Artwork Platform
On the NFT Artwork platform, even those who have little or no experience in creating NFT will be able to create and sell their digital art without having to replenish their crypto wallet. The Spume marketplace will work with the NFT standards ERC721 and ERC1155.
NFT Artwork Marketplace Functionality:
- NFT listing for both instant purchase and auction;
- buying and bidding at the NFT auction;
- the ability to create collections (NFT under one contract).
The Spume Marketplace will be launched on Ethereum and combine the best of OpenSea and Looks Rare. Spume smart contracts will be written on Solidity and can be used with any blockchain compatible with EVM meaning Spume is a true multi-chain platform. Spume will support EVM-compatible blockchains such as Polygon (Ethereum level 2), Moonbeam (Polkadot blockchain), and Binance Smart Chain.
It will be possible to tokenize music, software, and other forms of digital property on the digital licensing platform Spume. Videos, music, ideas, plans, and even individual messages — every bit of data can be licensed, standardized, and sold. Tokenization of this information is carried out through NFT, which can then be sold or bought on the internal marketplace of Spume.
Within the marketplace framework, users will be able to create a catalog of digital property tokens and their licenses. Thus, interested buyers will be able to purchase any available licenses and confirm their rights to use this property in the blockchain.
Who will benefit from the NFT marketplace Spume?
Everyone is tired of paying high service fees when selling physical and digital assets. The way that Spume is structured aims to target every corner of the cryptocurrency space as we know it today. There is utility available to every user of Web3 built into this apparatus.
Want to join the project now? Spume is currently in the private sale phase, but will be available to the public shortly. Click the link to join in the project: Spume Sale.
More information about the Spume project can be found here
- Jeff Juker
- Spume.io LTD