STYLE Protocol Secures $2.5 Million to Revolutionize NFT Usage Across Gaming Platforms
Main Content
- Disrupting a market worth over $530 billion
- Strengthening the creator’s phygital assets
- Native Token Raises Millions, Hires Big-Name VCs
STYLE Protocol Provides Interoperability for Digital Assets in Games
Style Protocol makes digital assets interoperable across multiple platforms and monetizes them, increasing usability and monetization for digital creators and owners. The global NFT market is estimated to be worth $472 billion, and the virtual reality market is estimated to be worth over $67 billion by 2024, so anyone who is leading the change in this space will be greatly rewarded.
Style Protocol disrupts this massive market by offering automated digital asset utilization, 3D asset interoperability, monetization, and NFT leasing via a sublicensing protocol. The project’s native token raised over $2.5 million in a seed funding round from prominent VCs.
The digital world of blockchain games and metaverses uses NFTs as their basic building blocks. In-game assets such as skins, characters, weapons, and even PFPs on these web3 platforms are usually NFTs. These platforms are based on different blockchain networks and use 3D assets generated from different engines, making it difficult to use digital assets from one web3 platform on another web3 platform.
Style Protocol aims to bridge this gap by offering a decentralized metaverse exchange (DMX) to solve this problem. Imagine that Axies, the game characters from Axie Infinity, can be used in other NFT games like Illuvium. And vice versa. The protocol aims to bridge the gap between traditional games and web3 games, connecting games like PUBG. Sandbox together.
The STYLE Protocol allows creators to easily integrate assets into a variety of virtual worlds, ensuring instant 3D compatibility and usability across multiple platforms. This allows creators to maximize the potential of their assets and expand their reach within the virtual ecosystem.
One of the key features of Style Protocol is its ability to monetize and incentivize digital creators and asset owners. Style Protocol not only helps convert 2D and PFP NFTs into 3D characters, but also helps them to leverage them. The project introduces a timestamped NFT leasing feature, allowing digital asset owners to lease their assets for a fixed amount of time on various digital platforms.
The protocol provides multiple revenue streams, allowing for the creation, transfer, and leasing of assets, with services paid for in both FIAT and cryptocurrencies. Holders of Blue Chip NFTs can generate ongoing passive income through NFT derivatives. Likewise, staking these assets on the platform provides additional revenue streams for relicensing NFTs.
In simple terms, the platform will help anyone generate revenue by licensing and selling any asset in metaverse projects and web3 games. To ensure transparency, fairness, and compliance with protocol principles in the ecosystem, Style Protocol is governed by the community through a decentralized autonomous organization (DAO).
In-house token, $STYLE
$Style is the native token of Style Protocol that powers the entire ecosystem. All $Style tokens are owners of the decentralized Style Protocol and can participate in the governance of the project by effectively voting using the governance token. The token has secured $2.5 million in seed funding from prominent VCs including Filecoin, Faber, AlphaGrep, FunFair, and Blockhub.
The $Style token follows a community-driven approach, with token economics designed to enhance project growth and incentivize the community. The token has a total fixed supply of 920 million, of which 65% is reserved for launch and community, and 23% is reserved for product and growth.
Styling the future
NFTs have become a fundamental component of Web3, metaverse, and NFT games. However, their use cases are limited to their own ecosystem or blockchain network. Style has the magic wand to free all NFTs and digital assets and make them available on all platforms.
This is not limited to NFTs. Style provides the ability to bring existing in-game assets to life and utilize them. Convert 2D NFTs into 3D characters, lend assets, stake NFTs, participate in DAOs, multiple revenue streams, decentralization, and interoperability. Style Protocol is ready to reshape the metaverse and take gaming to the next level.
Style has a thriving community that is growing exponentially as the protocol acts as a bridge between various gaming communities and projects. Follow Style X, Dissension, telegramand LinkedInOr visit Website Be part of the future.