$RAINI: The future of NFT’s
NFTs or “non fungible tokens”. At this point, everyone has heard of them. Elon Musk tweets about them constantly, artists and musicians from completely obscure and unknown all the way up to radio famous have published them, and you probably know someone who knows someone who is trying to “make it big” in the NFT space. I mean, why wouldn’t they be? An NFT allows you to truly take ownership of a piece of work, to lay claim to your favorite artists masterpiece permanently, right there on the blockchain for the whole world to see. There have been countless writeups specifically describing NFT’s and their functionality as assets, primarily written to inform the uninformed of the most rudimentary aspects of what they even are in the first place. If you are reading this piece to try and get a better understanding of what an NFT is, I suggest you read something else.
No, this is about the oft-neglected NFT investor, more specifically, the NFT marketplace innovator. In the past few weeks (as of the time of writing) we have seen literally dozens of projects crop up practically overnight, explode in value within the week and then seemingly drop off the face of the earth. Projects such as Hoge Finance, POODL, SCAT, BDOG, PAINT etc. seem to merely exist to sell what appears to amount to Dutch tulips. Projects designed to ride a trend. This, of course is nothing new in the history of market mania, however it is particularly rare to find something which seeks to turn a perceived flash in the pan trend into something, well, permanent.
Enter ticker $RAINI. An NFT based project launched, at the time of writing this, a little under 24 hours ago. It claims, on its site, to be a deflationary NFT platform with “venture capital” elements, whose primary goal appears to be to provide transparency in cryptocurrency investments for those not “wealthy” enough to have insider knowledge on what token is what or what is launching when. Community made NFT’s are provided as a method of increasing asset liquidity and market scarcity is fueled by the high amount of tokens burned (as of writing, over half of the entire initial supply). One may read this and not understand what separates them from other similar projects, how is this any different from what any other one of these deflationary meme assets claims to be? Well, the answer to that lies in community. $RAINI is almost entirely community sourced, the community makes the memes, the developers integrate the memes directly into the $RAINI ecosystem, those memes are awarded to holders in the form of NFT’s, holders are incentivised to make the best NFT meme, and the cycle continues. In this model of cyclical community liquidity, we find a fascinating ecosystem driven by the creativity of a hyperactive and hyper enthusiastic community, all of whom involved stand to profit from their involvement in the ecosystem. Combine this with the fact that the developers are full time cryptocurrency traders who pool together their market know how and utilize market liquidity to make transparent a space that to the layman has since been a muddled and confusing game of darts-in-the-dark, and you have something genuinely really, really interesting. $RAINI is an asset that has apparently built itself to last, given its radically decentralized approach to handling liquidity. When NFT’s inevitably cease (however temporarily) to be “cool”, $RAINI remains a decentralized VC platform fueled by those who stand only to gain by remaining involved, not just those who buy in on launch and sell out the second it hits some price point.
Now, all of this is great, but how do we know any of this? Obviously a cryptocurrency asset is going to proport all sorts of grandiose things, insisting it stands out from its otherwise identical competitors. The answer here once again lies in community. The telegram link for $RAINI is public on their website, and unlike hundreds of other projects, the developers are direct and fundamentally equal members to the holders. I have joined many discords and telegrams and IRC channels for assets I find interesting, and never before have I seen developers so committed to engaging with their community. They make and share memes right along with their community members, they give full updates on what is going on behind the scenes and somehow seem to be awake 24/7 whenever a question needs to be asked. It’s actually quite impressive, seeing as they live in Australia and I, as an American have basically full time access to them even when it’s 4am in their country. All in all, I find this project to be extremely interesting in the NFT space and in my opinion, one worth checking out if you too want to engage in a project such as this one.
This article is NOT financial advice and is solely the opinion of the author. Do NOT buy or sell anything without doing your own research.
