JPEGvault put its community vision and willingness to listen to its members on full display recently by holding a vote on moving its operation to Avalanche.
“We’d originally planned to relaunch on Ethereum and Binance Smart Chain, but the former is a very mature market and a harder competition ground for younger projects and the latter not the right “vibe” for us. Avalanche is the right move because it is booming at the moment, there’s a constant liquidity inflow and we’re confident we can capture a good chunk of it.” – Sv2, JPEGvault Cofounder
The speed we need
The benefits of moving the project to Avalanche are obvious with the speed and cost of transactions being chief among them. JPEGvault still plans to launch on Ethereum and other chains later on, but has opted to kick off on the Avalanche blockchain first. The token started trading on Wednesday, March 23, and although the launch was rocky because of presale buyers deciding to leave the project, the chart has resumed its course in a very healthy manner.
With the token now available to anyone, the organization can go back to one of its key activities: purchasing NFTs. It’s now time to keep building the already existing collection of around 200 non-fungible tokens (NFT) with a valuation at the time of writing of about US$200k (IS$400k at the top of the previous bull market).
The concept is easy as pie: You purchase $JPEG, 10% of the funds go into the vault for investments and further development of the project. You now own a piece of some of the most exclusive NFTs on the market along with hundreds of other investors. Whenever an NFT is sold, holders get a share of the funds.
But it gets better.
The best thing about NFTs is not their financial value, it is their utility. Now imagine if a group of investors owns a collection of thousands of NFTs that they can borrow from OR rent out and get paid from the cash flow generated? That’s the next step.
JPEGvault could be characterized as a hedge fund, but the term fails to truly capture the essence of the project, because there is the investing part, but there is also community involvement and development of tools which will help shape the future of NFTs.
We have yet to find a term to adequately describe what JPEGvault is, but it has a great future lying ahead. All you need to get involved is to purchase $JPEG, available now at https://traderjoexyz.com/. You can learn more about the project in the projects Telegram and Discord channels.