Like it or not NFTs are here to stay. The booming sales of emerging NFT marketplaces like OpenSea and LooksRare is an indication of its increased adoption. Adding value to it, we have YOUR crypto project. Debuted as a Wikipedia of product content, YOUR with its NFT marketplace i.e YOURBUY aims to be the leading platform that rewards anyone who creates content of any form for e-commerce or metaverse companies anywhere across the globe. It’s time to look into the nitty-gritty of its concept and what it holds for users and investors –
What is YOUR Crypto Project?
YOUR call itself the Wikipedia of product content. Built on Solana blockchain, it is developing the first product content NFT marketplace (YOURBUY) that allow users to create, own and sell product content as NFTs.
According to the team, top e-commerce companies like Amazon, Flipkart & Alibaba and metaverse projects like Decentraland, Pavia etc. are always on the lookout for quality content for products listed on their website or platform. The cost involved in sourcing such content is quite enormous and the process is time-consuming.
YOUR wants to address this issue by creating a platform that contains the library of product content that can be sold to the companies and in return, the creator gets his fair share. Product NFT constitute physical and digital assets that have the following content types –
You don’t have to be an artist to contribute in YOUR ecosystem
A look into YOURContent:
In web2.0, product content is held by a handful of players. The content generated by these players or data providers is limited and the time to market it is even slower. Using the power of blockchain technology, YOUR will scale it up and make product content a completely decentralized entity by harnessing the power of community (User Generated Content).
By offering the content on its marketplace, it will further reduce the time to market. The team has already planned an incentive-based system to reward the creators and have DAO in place to keep the system completely decentralized. YOUR content will allow users to –
With NFT2.0, YOUR will integrate the co-ownership model into its NFT structure. All the contributions and creations are registered and locked in smart contracts. Every new and unique product will be converted into an NFT with multiple ownerships through NFT fractionalization.
YOUR will be the first project to introduce NFT2.0
YOUR will have a content value score that will decide the earning potential of the created content. The score is based on the level factors that are – Effort level, Demand level, Quality level and Feedback score.
What is YOUR token?
The project will feature its own utility token called YOUR token. The token will drive governance and economy within the YOUR ecosystem. It will have the following utilities –
- YourContent Earnings
- YourBuy token Payments
- Community Governance
- P2P Transactions
There will be two modes of earnings through YOURContent for the contributors –
– Base Earnings:
In this mode, contributors will earn income based on the type and volume of content they created.
– Revenue Sharing Earnings:
YOUR will have a revenue-sharing model that will distribute the share of revenue earned by the platform among the contributors. YourContent will have its own DAO that will be community-driven and self-sustainable.
YOUR will use contribute-and-earn revenue model to automate the earnings
YourBuy Token Payments:
YOUR marketplace YOURBuy will accept payments in YOUR tokens and other cryptocurrencies like BTC.
Token holders can stake YOUR token in YOURWallet to earn a certain percentage of tokens based on the period of staking.
Token holders will have the right to vote on key project proposals that can shape the direction of the project.
YOUR will allow P2P mode of token transfer, free of charge.
YOUR had pre-seed, seed and public sale rounds, distributing tokens in a way that nobody has a majority stake. The largest share i.e 30% is allocated for community rewards and the remaining distribution is shared below –
The token is offered at pre-seed price of $0.006-$0.008 USD and the public sale price is $0.010 USD. The initial circulation supply is 27.5 million tokens.
Total supply of YOUR token is capped at 1 billion
Divided into 8 pools, the token vesting schedule extends till May 2032 (10 years period) –
YOURBuy is a physical and digital product marketplace. Unlike competitors with 10%-15% commission model, it has 1% commission model for sellers that will go to YOURContent and be further distributed to the NFT owner.
Contribute and Earn:
Like Metapreme, YOUR has its own contribute-to-earn model that rewards users for their contributions. Users can contribute to the network by creating, curating, scoring and computing. It offers two earning modes –
- Network Token Supply
- Product NFT Usage
Network Token Supply:
To encourage and incentivize contributors YOUR has network tokens. The supply is separated into two pools –
- Base Pool
- Kickstart Pool
– Base Pool:
Base pool will offer the gradual release of tokens that depends on the number of product NFTs created on its platform. This pool will help stabilise the price of YOUR tokens and assure earnings to the contributors.
– Kickstart Pool:
Kickstart pool will reward the early contributors to the platform. It’s a special pool reserved for early adopters. The rewards will be distributed on a first come first serve basis
YOUR will reward early adopters from Kickstart pool
Product NFT Usage:
The product NFT database usage earnings can be divided into two parts –
- YourBuy 1% Commission
- Product NFT Downloads
– YourBuy 1% Commission:
YourBuy marketplace has 1% commission model. When the seller pays that amount to purchase the product NFT, the 1% commission will be distributed to the NFT owner.
– Product NFT Downloads:
Everytime someone downloads the NFT, the owner gets paid. Download parties can be an individual or companies (e-commerce, metaverse) wanting to use the product NFT.
The earnings will be distributed among contributors, nodes and network development. The nodes are the systems running the network, providing storage and processing power. The network development looks after the development power for creating, maintaining and optimising the network.
Here’s the earning distribution for both earning types –
YOUR Team Members:
YOUR has nine core team members Thijmen & Ted being the founders of the project. There’s not much info about each one of them. However, I got my hands on the Linkedin profile of one of the founders i.e Thijmen. Based in Netherland, he founded YOUR in 2021 and has a decade long professional experience in marketing and sales strategies.
YOUR Airdrop & IDO:
YOUR ran an airdrop event from December 22nd, 2021 to Jan 05, 2022. It’s a community airdrop valued at $100,000. Participants received tickets and based on the number of tickets received, YOUR tokens were allocated.
Coming to the IDO, YOUR team launched IDO on multiple launchpads including Solanium, Infinity Pad and Waggle. The token is sold at a public sale price of just $0.01 USD.
Compared to other marketplaces YOURBuy has the lowest commission model that charges just 1% to the sellers compared to 10%-15% charged by the competitors. This model reduces the overall cost of the product content, bringing in more value.
YOUR has Kickstart pool that is reserved for rewarding the early adopters. The platform will distribute YOUR tokens to the contributors who join and produce product content NFT on the platform.
YOUR offer staking rewards to the token holders. Users need to have YOUR tokens to earn more YOUR by staking their tokens on the platform. APY details will be soon provided by the team.
YOUR has integrated a co-ownership model within the product content NFT. Any value addition done by the contributor on an existing NFT owned by another contributor will be reflected in the ownership model. This is done by breaking NFT into multiple fractions in the form of Fungible tokens. This will allow the platform to produce quality content with an efficient revenue distribution to the owners.
The project is interesting but it isn’t proven yet. We don’t know how the users will react to the platform once it goes live. NFT in itself is a fairly new concept and with product content, it can either turn out to be a revolutionary idea or a disaster.
YOUR is in direct competition with big data players controlling the majority of information on the internet. In a way, it is decentralising this space by empowering contributors by connecting the buyers and sellers on its marketplace. Once the project picks up momentum, there’s a high probability of facing challenges from the mainstream competitors.
YOUR Coin Price:
The coin is about to be listed on the exchanges. Watch out for this space for the price updates.
Is YOUR worth investing?
Focused on product content NFT. YOUR aims to connect contributors and organizations under one roof i.e YOURBuy marketplace. What I believe is the project is more about decentralising the information space that focuses on product-based content being utilized by the top e-commerce giants and the emerging metaverses.
YOUR has an interesting concept and has a platform to support it. With DAO, YOUR will make itself a community-driven ecosystem. Moreover, by introducing NFT fractionalization, it will empower anyone who adds value to the product content NFTs. This will help onboard more users and hence increased adoption.
However, the key to success rests with the big players like Alibaba, Amazon etc and top metaverse projects like Sandbox crypto. Failure to attract these giants may hamper the project’s growth in the long run and can affect its USP. If that’s not all, mainstream competition is another threat that can give a stiff challenge to YOUR.
On the bright side, YOUR is well funded and has the support of top investors including Solanium Ventures and Genblock Capital. If you’re someone who wishes to enter the NFT space and generate a side income by offering your skills. This is the project for you. On the investment front, it’s a wait and watch game. As a rule of thumb, early bird catches the worm.
Video Review –
This completes my review of YOUR crypto NFT project. In the next post, I will talk about STEPN Web3 APP and Coin98 super app. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.