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Bigfoot404 is a Web3 project that aims to bridge the gap between digital assets and real-world assets (RWA). Here's how it works:👁
Concept and Purpose:
Bigfoot404 seeks to integrate real-world assets with blockchain technology through the use of NFTs (Non-Fungible Tokens). Their primary goal is to offer tangible value to NFT holders by linking these digital assets to real estate developments.
MPL-404 Standard:
Bigfoot404 utilizes a concept called MPL-404, which is a standard proposed in collaboration with Mutant Labs, Metaplex, and others. This standard involves using token swaps to fund real-world real estate projects. The fees collected from
$BIG token swaps are used to finance these developments, creating a direct connection between the digital token and physical property.
Phases of Development:
Phase 1: involves setting up the token supply and the initial NFT offerings.
Phase 2: Focuses on the actual development of real-world assets, where NFT holders gain exclusive access or benefits related to these projects. This could include access to content creation spaces, remote job opportunities tied to managing the RWA, or other community-funded real estate ventures.
Community and Utility:
The project emphasizes utility over mere hype by providing real-world benefits to its community. This includes exclusive access, job opportunities, and involvement in the growth and management of real estate assets.
Platform:
Bigfoot404 operates on the Solana blockchain, which is known for its high throughput and low transaction costs, making it suitable for such innovative projects.
Funding Mechanism:
A significant aspect is the fee collection mechanism during token and NFT swaps. These fees are then used to fund real estate development, providing a novel approach to crowdfunding through blockchain technology.
From the information available on the web, Bigfoot404 is positioned as an innovative project that not only aims to increase the utility of NFTs but also to bring tangible benefits to its community through real-world property development.
However, like any investment or project in the crypto space, potential investors should conduct their own due diligence, considering both the innovative aspects and the inherent risks of such ventures.
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