Digital collectibles have taken over the crypto industry, becoming one of the most popular use cases. Most digital collectibles exist in silos, not a part of a bigger ecosystem. This sort of isolation has restricted NFTs to be nothing more than a JPEG or a GIF file with no emotional value attached.
The Dogecoin network has a long way to go to cater to such a requirement but other technically superior networks have the capabilities to do so. SphynxSwap is making a pioneering effort in integrating digital collectibles into their ecosystem.
SphynxSwap has announced the release of its exclusive NFT collection, Sovereign Sphynx Council. The NFTs will begin minting on 11th October 2021. The collection includes 8,888 NFT collectibles that can be minted at the price of 0.08 ETH each.
NFTs in the Sovereign Sphynx Council collection serves more than just a collectible, they also act as a source of passive income. The platform has incentivized early participation that is coupled with long-term staking rewards.
In an additional effort to incentivize long-term NFT holding, Sphynx will reward the NFT holders with 50% of OpenSea royalties along with 50% of the fees from the SphynxSwap ETH Bridge. It is an initiative taken by Sphynx which is synchronous with their aim of making the crypto world more rewarding and accessible to users.
SphynxSwap has already established itself as a key player in the AMM market as the one-stop solution for every cryptocurrency exchange needs. They are a one-stop solution that combines some of the most sought-after features in a trading platform such as trading, farming, staking, and holding digital assets to offer a hassle-free environment to the users. With the launch of NFT collectibles, SphynxSwap can also capture the NFT market.
The Sphynx platform has already made headway in securing a pivotal position in the crypto exchange and trading market. Now the platform aims to capture the NFT market while following its roadmap, which will soon lead to the launch of the Sphynx NFT platform.
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