Portion - Auction House for Rare, High-End NFT Collectibles
With the shift to a more digital era, millennial cohorts have begun to learn about various forms of arts through digital modes such as social media. Digital NFTs and collectibles are increasingly being sold online. Today, Market247.io will provide you with more information about one of the most prominent NFT marketplaces - Portion.
What is Portion ?
Portion is the 21st Century Auction House for Rare, High-End NFT Art, Music, and Collectibles. Through DeFi, artists and collectors can effortlessly sell, invest in, and acquire works with complete transparency.
Portion NFT Marketplace features several crypto artworks and collectibles created by various artists. The objective of this NFT trading platform is to establish a trustworthy, transparent platform that facilitates the exchange of high-value, original digital artworks.
Over the years, Portion NFT Markeplace has cooperated with numerous partners, the most recent being Palm NFT Studio. Recent collaboration with Palm NFT Studio aims to reduce the cost and environmental impact of minting NFTs.
On its interactive platform, Portion wants to connect creative individuals. This new platform aims to encourage artists to create work with tenacity and vision. All of its users have the opportunity to become collectors. In addition, it functions as an intelligent marketplace where artists and collectors can connect.
Highlights of Portion NFT Marketplace
Among many NFT marketplaces in the market, Portion has its own strengths that attracts millions of users.
First, Portion gives its members the ability to keep 100 percent of their earnings. Because its strategic team and globally certified partners handle all of the transactions on their own, there are no middlemen engaged in the process, which results in more transparency and a decreased likelihood of fraud. Then, collectors are able to manage both virtual and actual works of art using Portion. Furthermore, the blockchain certificates are controlled in a manner that is similar to anonymity. The smart contracts check to see if the buyer has enough money to complete the transaction. The exposure that musicians receive thanks to Portion is increased. Additionally, Portion offers insurance coverage for the high-priced items sold in its marketplace.
Auctions with Portion NFT marketplace
With the help of the drag-and-drop portal, artists are permitted to tokenize any media file. The vendor then establishes prices through the application, while prospective buyers submit their bids. The transaction concludes if the vendor and buyer reach an agreement on a price.
Portion NFT marketplace fees
The NFT markeplace charges artists 0% of the sale price and offers 11% royalties for ALL secondary market sales. Artists receive royalties whenever their work is sold on the secondary market.
Portion Token and Tokenomics
Here are some information about Token and Tokenomics of Portion.
- Token name: Portion
- Ticker: PRT
- Blockchain: BNB chain
- Total supply: 1,500,000,000
- Circulating Supply: 476,965,461.95 PRT
Portion Token Use Cases
You might be wondering what $PRT can be used for. Here are some of Portion's features:
- Portion Tokens ($PRT) are Ethereum Blockchain ERC-20 assets that are essential for platform governance and curation.
- $PRT tokens can be used to bid on, buy, and sell art and collectibles.
- Artists earn 500 $PRT for each NFT they mint on Portion, which is distributed every Sunday.
- Collectors earn 500 $PRT for every NFT purchased on Portion, which is distributed every Sunday.
- Artists receive 11% royalties on secondary sales, which are paid in $PRT.
- To collect yield, portion token holders can stake or farm their $PRT.
- PRT tokens are used for platform governance and voting on the DAO.
- Staked PRT Tokens earn rewards from auction sales and platform fees (which will be available soon)!
How to mint NFTs on Portion?
- Go to the Portion.io website.
- Establish a Connection for Your Wallet, and Complete Your Profile. To pay the Ethereum gas fees that are required to validate the transactions of minting your artwork, you will need to have some ETH in your wallet.
- Submit Your NFT Creation, your address needs to be approved before you can sell tokens.
- Put your NFT artwork up for sale on this page. And Congratulations! You just made your first NFT on Portion!
Currently, Jason Rosenstein, who serves as CEO, is in charge of leading this team. Jason is a forward-thinking individual who has a deep fascination with the possibilities presented by blockchain technology. The credentials that Jason possesses, particularly his expertise in cryptography, make him the ideal candidate to lay the groundwork for Portion. As one of the cofounders of Portion, he is working toward the goal of realizing the full potential of blockchain technology by using its capabilities.
This group has a wide range of skilled professionals hailing from a variety of business fields. Vlan Panov is a seasoned professional in the field of finance who possesses a wealth of experience that he obtained by working for prestigious financial firms such as JPMorgan and Morgan Stanley.
Hopefully, you can learn useful insights about the Portion NFT marketplace. If you have interest in any other NFT marketplaces, please share with us in the comment.
Why can't I make changes to my NFT after I mint it? After you have "minted" your NFT, it will always be a permanent part of the Ethereum blockchain and cannot be changed. Because the transactions that are recorded on a blockchain cannot be undone, Ethereum is an incredibly secure cryptocurrency that is difficult to manipulate. If, after minting an NFT, you find that you need to make modifications, you can "burn" the token (aka permanently destroy it). Maintain the highest level of vigilance during the minting process to keep from having to destroy any non-fungible tokens.
Can I sell physical artwork on Portion? We organize the logistics for delivering tangible pieces to buyers and verify the authenticity of artwork by partnering with artists, galleries, or artist management teams when dealing with artwork that is presented in physical form. Include the relevant information in the description of your NFT if you intend to offer a tangible component as part of it (for example, an unlockable). Shipping costs are the responsibility of the seller.
Does Portion offer royalties?
Artists keep 100% of the sale price of their work, and Portion offers 11% royalties on ANY and ALL sales made in secondary markets. When an artist's work is purchased by a buyer in a secondary market, the artist receives a royalty payment from us.
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