PlugChain stormed the NFT market, Very5 arrived on the scene!

 Preface: The public chain is one of the most critical foundations of Web3. For the public chain, in addition to being unique in technology, ecological construction is also very important. Whether it is ETH, which has already become one of the “Superior” public chains, or BSC, Solana, Cosmos, Aptos, Polkadot and other mainstream public chains among the “superpowers”, this is the case. For the up-and-coming PlugChain, it is also replicating the ecological evolution of these “predecessors”: let the technology take root in the scene application, and let the application feed back the technology. The debut of Very5 is the clarion call for PlugChain to enter NFT, and it is also a milestone for PlugChain!

01.Very5: Interpretation of rights and interests, a new definition of NFT!

From a realistic understanding, NFT is just a string of data codes, artwork, avatars or star cards, but a method of tracking asset ownership by recording assets in the blockchain. Since the underlying technology endows it with attributes such as verifiability and tamper resistance, NFT can improve the traditional “paper/electronic certificate confirmation + centralized agency supervision” model. Essentially, NFT is an on-chain proof of equity for assets.

Unforgeability is a key value property of NFTs, bringing NFTs to the forefront of mainstream cryptocurrency audiences. Mainstream users are more receptive to the concept of valuable, unforgeable items because they resemble in some ways everyday objects like rare sneakers, designer clothing, and luxury cars. A key feature that makes NFTs better than the status quo is combining the status-signaling nature of luxury with the composability of internet-native cryptocurrencies. As people spend more time socializing in digital spaces rather than physical ones, more users will flock to NFTs as a tool for distributing, delivering, and storing value and social influence.

In the era of Web 2.0, you can have many things, but on Web 3.0 it will not work. This is the biggest charm of NFT art is, “Anyone can see it, only one person has it.”

Very5 is a simple, easy-to-use, high-performance NFT platform based on PlugChain, covering art, collectibles, virtual world, music, sports, domain names and other products. By building a rich encrypted digital comprehensive market, it provides users with better quality , Convenient Web3.0 service experience.

It is worth mentioning that Very5 and “Verify” have the same pronunciation, which means “confirmation of rights”, which coincides with the “data verification” and “equity” that NFT often talks about. The reason why PlugChain officially invested a huge sum of money to purchase the Very5 domain name is also through the creation of an official NFT platform, so that platform users can truly grasp their own encrypted assets “Verify”.

In this way, in the PlugChain ecology, NFT is the asset confirmation certificate of the digital asset owner, which will not change due to changes in the ecological scene. It is unique and verifiable in different ecological dimensions. At the same time, NFT is the embodiment of brand value in the real world, and at the same time, it is also a passport for every physical product to enter the Metaverse. NFT has shaped its own value in breaking the traditional offline transaction time and location restrictions. Let the development direction of digital art become the combination of our reality and virtuality. This is why PlugChain is the original intention and value of Very5.

02. Imagine NFT, embrace Metaverse

Network performance is a hardware-determined condition for realizing ideas. Obviously, the high performance of the underlying design of the PlugChain public chain is one of the basic factors to realizing its ideal of “building a consumer-grade NFT market”. This also makes Very5 become the official NFT platform based on its own technology accumulation after the mainstream public chains such as ETH, Solana, BSC, and Flow. Since it meets the strategic needs of PlugChain public chain ecological expansion, it also makes its high-performance technical advantages revealed in the landing of the scene.

Like the mainstream NFT platform in the market, Very5 also focuses on various encrypted digital products such as art, collectibles, virtual world, music, sports, domain names, etc., and is committed to building a rich encrypted digital comprehensive market, providing users with a complete and convenient Web3. 0 service.

Every transaction is transparent and traceable on the PlugChain chain. In addition, from the perspective of Gas, a transaction on Ethereum costs tens of dollars, and sometimes the Gas fee you need to pay is even higher than the value of the asset you purchased; while the current Very5 single transaction fee is extremely low, almost can be ignored. What’s more worth mentioning is that NFT issued on Very5 can be sold without paying Gas fees. Compared with NFT platforms in the mainstream market, Very5 has lower transaction costs.

Self-casting NFT is also a major feature of Very5. For NFT projects, there is not even any cost. All tools are open source and free to developers. Participants can create NFT artworks and build communities for free. This allows both project parties and artists to directly bypass expensive galleries. The confidence of the exhibition directly provides a channel and platform for low-threshold participation, and the global expansion tools provided by Very5 can meet the development needs of different scale project parties, a small but beautiful, large and comprehensive infrastructure development platform.

In addition, users can also flexibly set fees during the secondary sale of NFT on Very5. Every time a user makes a sale, they will earn a commission, which greatly increases the NFT transaction revenue. In addition to auctions and sales, Very5 also supports the function of gift transfer. You can reward other users with your own NFT in Very5 to expand the user base of your application, which is also a new integration and innovation of NFT+SocialFi.

In short, a high-performance public chain is an important basis for promoting the development of the blockchain, and ease of use is the key to determining whether the public chain can be accepted by mainstream users. PlugChain, as the bottom layer that focuses on mainstream strategies and has successfully brought mainstream users to the blockchain, meets the above conditions and builds a new path to Web3.0 for Web2.0 users. Obviously, Very5Very5 arrived on the scene is an ecological flower that blooms in PlugChain technology, and it is also a fantasy composed by NFT for embracing the Metaverse.

03. The chain is interlocking, and the public chain ecology takes shape!

No accumulation of steps, can’t lead to thousand miles. No integration of streams, can’t result in seas and oceans. It seems that Very5 arrived on the scene, but it is PlugChain’s technology accumulation day and night. At the same time, PlugChain has gradually formed an ecological closed loop. From the emergence of the Pando wallet, it has provided a link channel for Very5, which is not only a medium carrier for the platform to conduct transactions, but also a custody solution for storing user NFT.

Also in DeFi, consider the need to use stable pricing units in the PlugChain ecosystem. Therefore, the stable token PUSD will be launched in 2022, and the stable token will be exchanged for USDC (TRC20) at a 1:1 equivalent. In this way, the emergence of PUSD not only reduces the cost of one-stop transactions for users, but also is more easily accepted by traditional users, expanding the potential target users of Very5 and further improving the ease of use.

At the same time, in order to expand the external ecological construction of the public chain, PlugLabs has launched the Star Rise Plan, which provides support from four levels: strategy, financial support, strategic support, advertising support, and traffic support. In the past few months, there have been more than 20 ecological projects or institutions that PlugLabs has reached strategic cooperation with, and the number is still rising. To be precise, the entire ecosystem of PlugChain is growing, covering many areas such as GameFi, SocailFi, DeFi, Swap, Wallet, and NFT. Moreover, DAO will also become the focus of PlugChain in the first quarter of 2023.

If a worker wants to do a good job, he must first sharpen his tools. With the heavy launch of the official NFT platform — Very5 and the issuance of the official NFT, the classification and distribution of rights and interests will amplify the benefits of DAO, thus forming a dual-track parallel DAO governance form that not only stimulates the economy but also benefits the ecology, which is more conducive to Long-term development of the official DAO.

The seemingly careless idleness is settled, but it is actually a well-thought-out interlocking.

With the gradual improvement of PlugChian’s infrastructure, ETH may not be required to support all on-chain transactions in the future, and different public chains meet different applications. At this time, developers only focus on the development itself, and then bring more efficient and easy-to-use DApps, which will also boost the continuous development of Web3.0 in a true sense. And this is the meaning and value of the existence of PlugChian.

Conclusion: As an NFT platform created by PlugChain, Very5 will further expand different types of NFT matrices including games, social, art, metaverse, etc., to enrich its participation in different fields. At the same time, as the PlugChain ecology has begun to take shape, self-owned construction has also come to an end. The emergence of Very5 is just the beginning. In 2023, focus more energy on the decentralized oracle protocol, polish the core technology, and improve the public chain ecology. The two complement each other to survive forever!