Ravendex (RAVE) Launches NFT Collection to Scale Up Utility

Investingcube 3 months ago Report
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Cross-chain exchange platform, Ravendex has rolled out 10,000 Unique Pixelated Bird NFT collection. The collection comes with proof of ownership and is built on Cardano. By operating on Cardano, users will benefit from network efficiency, including low gas fees.

Unlike most non-fungible tokens, RAVE NFT will have real utility within the Ravendex ecosystem. Furthermore, RAVE NFT holders can stake their NFTs to earn exclusive rewards. Additionally, holders can sell their assets on the secondary markets outside Ravedex. This promises to create a stable income stream for RAVE NFT holders in the fast-expanding metaverse space. The other way to generate revenue is by staking their NFT to support the launching of projects on Ravendex’s Initial Dex Offering (IDO).

The RAVE NFT launch is off to a good start, with almost 10% of NFTs already minted within hours of the launch.

How to mint the RAVE NFT

  • First, you need to purchase their Cardano (ADA) tokens from an exchange. If they already have one, that’s okay; they can proceed to the next step.
  • Next, you need to download a wallet compatible with Cardano, such as Yoroi or Nami.
  • Transfer the ADA you bought to your wallet.
  • Go to the RAVE portal, transfer 50 ADA to the address provided, wait for a confirmation message and start minting. 

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About Ravendex

Ravendex is a non-custodial DEx that runs on the Cardano blockchain via the AMM protocol. The platform facilitates liquidity and fast transfer of assets between ADA and other tokens operating on the Cardano ecosystem. One of 

Ravendex’s unique features is EUTXO, which enables sharing of liquidity among different assets on the Cardano ecosystem. 

The Ravedex DEx has its own token, known as RAVE. At the time of writing, RAVE had a market capitalization of about $7.3 million and its trading volume was up by 23.3% in 24 hours. Ravendex also has an ERC-20 ridge that facilitates the transfer of native Ethereum assets to Cardano. This enables users to enjoy the benefits of the low transaction fees on Cardano.

See also

Original Source: https://www.investingcube.com/ravendex-rave-launches-nft-collection-to-scale-up-utili...

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