The $MSR token will be a central component of the Messier.Art platform and it will power a wide range of features, services, and user-focused benefits.
Messier.Art is a purpose-built NFT trading, staking, and collaboration hub for digital artists and collectors. It is an integrated ecosystem that comes with cutting-edge services and features that are designed to facilitate, improve, and streamline NFT trade, creation, collection, and investment.
Messier.Art will be powered by the $MSR token, which can be used for everything from generating yield from NFTs, profit sharing via a community DAO wallet, and sending and receiving tokens (including airdrops), to generating passive earnings (yield farming) via staking of the $MSR token in liquidity pools.
The Messier.Art team has shared the following development updates on the utility of the $MSR token, the platform’s ongoing seed raise, and Messier.Art’s Initial DEX Offering (IDO) partner.
Benefits and Utility of the $MSR Token
Demand and utility for $MSR are tied to a wide range of benefits to incentivize holding. The first benefit of the $MSR token is that platform fees will be reduced by 50% for users who buy and sell NFTs on the Messier marketplace using their $MSR holdings in place of the native Terra token (LUNA).
This is the first way $MSR helps maximize value retention for artists and investors operating on the platform.
The 50% reduction in trading fees for buys and sells that are paid for in $MSR is given back to token stakers and liquidity providers, and the remaining 50% that is collected by the platform will be used to buy back and burn $MSR from the public supply.
This will reduce the available supply and provide upward price pressure. In this way, 100% of trading fees on Messier.Art will be given back to the platform’s users and supporters.
The next benefit is revenue-sharing with platform participants who contribute to the Messier Marketplace. Contributors and participants will receive rewards via $MSR tokens in the applicable revenue-sharing model.
Additionally, project accessibility will be enhanced for $MSR token holders, with 75% of whitelist allocations being given to liquidity providers, and the remaining 25% going to token stakes.
Next, part of the Messier.Art vision is to close the gap between physical and digital art. The platform will also have an integrated merch shop, with some merch being pre-allocated to stakers and liquidity providers.
Finally, as a decentralized, Web3 community, Messier will use a democratic, vote-based approach for featuring and listing projects on the platform – contingent on all relevant projects meeting a comprehensive checklist for security and transparency.
$MSR token holders will be able to vote on which projects are featured and listed on the platform, thereby giving a voice to the community in how the platform operates.
The $MSR Token Seed Raise
Messier.Art’s ongoing seed round is approximately 50% complete. Current backers – investors who understand the power, performance, and potential of Terra’s architecture and ecosystem and the industry-changing features of the Messier.
Art platform – include Contango Digital Assets, The Chain Collective, Influx Group, StarTerra, Big Brain Holdings, and Galactic Punks. Interested parties can contact [email protected] to learn more about investment opportunities.
Messier.Art’s IDO Partner
Messier.Art’s Initial DEX offering will be conducted on StarTerra. The team is excited to have an experienced partner for this milestone in the project’s development and both Messier.Art and StarTerra are heavily invested in growing their services, offerings, product features, and communities within the Terra ecosystem.
About Messier.Art
Messier.Art has been built around the needs of the rapidly maturing NFT trading space and has developed an entirely new suite of features and functions for artists and collectors around the world.
NFT marketplaces must stay attuned to the needs of their users, and Messier.Art is reimagining what is possible and what best-in-class services in the NFT space should look like.
With NFT staking, lower trading fees, artist profiles, token airdrops, and other user-focused benefits, the platform and its thriving online communities are at the forefront of the NFT revolution.
Visit Messier.Art for more details, connect with the team via Discord, Twitter, or Telegram, or email [email protected] to discuss partnerships, investment opportunities, and sponsorships.
Was this writing helpful?
Source: https://coinpedia.org/news/messier-arts-msr-token-brings-advanced-value-added-features-to-network-participants/