DEIP recently announced that it is joining the NEAR ecosystem. This decision was taken with many factors in play, not least NEAR being the strongest smart-contract platform around.
Notwithstanding the strength of its smart contracts, one of the most important factors for selecting NEAR was the values of the ecosystem and our shared vision for the creator economy.
Like DEIP, NEAR is centered around creators, openness, and creators. We have a shared focus to advance the creator economy using NFTs in a transparent and decentralized way. This makes NEAR not only the ideal smart-contract platform and payment method for our fundraising efforts, but a trusted partner with a shared vision for the future.
We both believe in the power of decentralized Web3 technologies to help creators benefit more from their intellectual property through the eradication of centralized publishers and platforms. Moreover, both NEAR and DEIP are about providing the creator economy with the financial tooling to free people from bank accounts and exploitative royalty schemes.
What is really exciting about what our partnership can bring is the NEAR ecosystem’s wealth of NFT projects and what we can do for the communities within those projects.
One of the greatest benefits of DEIP’s technology can be seen through our Dynamic Liquidity Protocol. The protocol allows for liquidity mining using NFTs, in addition to NFT use as a collateral for loans. This means that creators can use their intellectual property as a security in return for a loan, which they can use as they like.
This goes for all types of NFTs, whether they be artworks, music, scientific research, you name it.
Since DEIP’s protocol allows the fractionalization of NFTs, owners of NFTs on the NEAR ecosystem even have the opportunity to boost the value of their holdings. For example, just take how Doge meme’s value has reportedly skyrocketed from its $4 million-dollar sale price to $220 million following fractionalization. This is just one piece and the tip of the iceberg.
These are just a couple of examples of how DEIP will contribute to NEAR’s ecosystem. We look forward to an exciting Web3 future together!