It’s not often that NFT platforms come into the picture that offers the value of tangible utility that can be put to use quickly. Enter EarnX, a subsidiary of Yearn Classic Finance that is looking at NFTs in an entirely new way. EarnX is taking RFID technology and intertwining blockchain tech to revolutionize NFTs. They have launched the EarnX NFT Gallery, and are working to stock up the gallery with a community-driven approach.
RFID integration will allow for physical products to be integrated with NFTs throughout the gallery. Since EarnX is a community-based token, there is the integration of the community’s ability to vote for products, and engage with auctions.
The EarnX Token
One major benefit of the EarnX token is that it’s deflationary – allowing you to earn more as your tokens sit. The token carries voting rights, influencing and impacting which products and artists join EarnX, and emphasizes scarcity, stability, and utility.
In order to combat price manipulation, the token also has a 10% tax on all transactions. 5% goes towards a liquidity pool, locked for four years. The other 5% goes back as a weighted distribution to token holders and the burn address. Built on BSC, EarnX also carries low gas fees and continuous burning, allowing for price stability and use-case advantages, while still incentivizing long-term holders to continue to hold. The protocol’s liquidity is especially secure, courtesy of a partnership with DxSale.
The team has also published a forward-looking roadmap, with a big focus on NFTs looking towards the months to come. In another announcement this week, the EarnX team shared that NFAXE will be a Q3 project; NFAXE is a physical axe and paired NFT that are sent to the NFT’s winning bidder. Another project, NFCarpet, has been shared by Earn’s team as well.
Fresh Off The News
EarnX is hot off the press with a partnership announcement with Bella Protocol earlier this month as well. The partnership looks to explore three primary buckets: providing premium NFTs backed by physical art within the sphere of DeFi, community collaboration, and exploring innovation around NFT mining, dynamic NFTs, and NFT airdrops. In a statement regarding the partnership, EarnX co-founder Marcus King also noted that there will be a “dedicated Bella Protocol physical NFT collection” in the future.
The EarnX token also was added as a supported token on Bitrue to kick off the month. Bitrue users can now trade the EARNX token with USDT and XRP. EarnX is also a pillar in the Binance Smart Chain’s DeFi and NFT landscape. With continued partnerships and exposure coming to life, EarnX is looking to continue to be aggressive with the growing DeFi and NFT landscape.