Topic: Crafting the best use case for NFTs (Read 201 times)

Your input is greatly appreciated, and we fully support the idea of commencing with cars. The tokenization of vehicles with existing titles enables the securitization of esteemed collections, rare finds, and investment-worthy automobiles. Not only does this attract investors, but it also facilitates the trading of valuable antiques and other remarkable cars, fostering a vibrant marketplace.

Right, restricting the marketplace to just a few key/core assets at launch is great, and then you all expand later. If you're going to lock the ownership of an asset into an NFT, a car is actually probably the best place to start. Cars have titles (although I wouldn't know exactly how you'd go about digitizing that, but I'm sure it's possible), and those titles could be matched to the NFTs. If you want to attract the investor crowd, this seems like a great way to securitize classic, rare, and 'investment' type of cars, like antiques for trading.

Thank you for your feedback and for raising your concern about the possibility of double-spending. We completely understand your apprehension and would like to reassure you that our team is fully aware of the risks involved and is taking measures to ensure the security of our users' assets.

To prevent double-spending, we plan to require the legal transfer of ownership of the physical asset to the NFT itself. This means that the asset would be "locked" within the NFT and could not be sold or transferred independently without the NFT itself being sold or transferred. We believe that this would greatly mitigate the risk of double-spending and provide a more secure and reliable platform for asset-backed NFT trading.

Furthermore, we want to clarify that not all physical assets may be suitable for conversion into asset-backed NFTs. As you rightly pointed out, a car may not be the best example of an asset that can be securely tokenized. Therefore, we plan to focus on tokenizing valuable assets that generate consistent yields, such as real estate, fine art, and collectibles, among others.

Additionally, we plan to implement various measures to verify the authenticity of the assets being traded and ensure that they meet our certification standards. These measures may include in-person inspections, documentation checks, and other verification processes as necessary.

We appreciate your feedback and concern, and we hope that our response has helped to alleviate some of your worries. Please let us know if you have any further questions or suggestions. Thank you for your interest in Have.Exchange!

You all might know that you aren't scamming, but I think there is immense risk that your users who sell assets will scam. Even if you were to certify an asset in person, like a car for example, what's to stop the person from "double-spending" it? They sell the car on Craigslist and then sell the NFT as well. Then extrapolate that to practically any asset. I think it's just a very risky business model, billions of dollars go to whoever can successfully build this, but it has to be very difficult to make the system secure against scam sellers. 

Thank you for your feedback and concerns about our project using ABNFTs for real-world assets. We know there have been scams in the past, but we want to assure you that our project is not a scam. There is a need for a platform where users can display and own real world assets.

We want to develop a trusted platform where people can be sure that every NFT they trade has real value attached to it, We will achive this by tokenizing one asset at and time.

We also have consulted with legal and financial experts to make sure this is possible and that we're following the rules. We think NFTs can be a good way to show ownership of valuable things, and our platform could help a lot of people.

We appreciate your input and will take your concerns into consideration as we continue to develop our project. However, we remain committed to moving forward with our vision and believe that there is a strong demand for a platform like ours. Thank you for your time and consideration.

I'm pretty tired of seeing projects like this. At first, they were very excited about the idea of being able to back up real-world assets using NFTs, but the implementation was not what they expected and in the end, it turned out to be a scam project. To be honest, projects like this can't work because backing up an asset using NFTs still has a lot of loopholes and it's going to be very difficult to make such a system work because there will definitely be a lot of problems. It's better if you don't go ahead with this project because no one seems interested in it no matter how hard you try to market it

Converting a real-world asset into an ABNFT makes it easily tradable right away, even though tokenizing it is challenging. The aim is to access the vast amount of value that is currently tied up in unbankable assets, which are worth trillions of dollars. Despite the energy and effort required to create ABNFTs, it makes sense to turn these valuable but unbankable assets into ABNFTs.

https://capitalmarketsblog.accenture.com/a-78-trillion-growth-opportunity-for-wealth-managers

That is also not quiete new and I don’t really see a difference to simply just buy the real world item that is connected to the ABNFT. Because the ABNFT will just make it more complicated to obtain the real item and will bring basically no value to the buyer. Honestly I think all NFTs are a scam however and I say that as a person that always has to defend Bitcoin from such accusations.

We understand your skepticism towards the current wave of NFTs, we would like to point out that not all NFTs are the same. Our platform, have.exchange, offers a unique type of NFTs called Asset-Backed NFTs or ABNFTs, which are different from regular NFTs.

ABNFTs are created by linking a real-world asset to a digital token. This means that they have an inherent value based on the underlying asset. For example, an ABNFT backed by a piece of art would have the value of the art itself. These NFTs are not just facades but represent real-world assets with tangible value.

Furthermore, the process of creating ABNFTs involves rigorous legal proceedings and ownership verifications. This ensures that only legitimate assets can be tokenized and that the ownership of the underlying asset is clearly established.

We believe that ABNFTs offer a new and innovative way to generate value. By tokenizing assets and creating a secondary market for them, we are opening up new investment opportunities and creating liquidity for traditionally illiquid assets. This has the potential to democratize access to certain asset classes and unlock value that was previously untapped.

So while we may not be able to convince you to pay for pictures of monkeys, we hope that we have been able to shed some light on the potential of ABNFTs as a new and valuable asset class.

Thank you for reaching out to us and for your interest in our asset-backed NFT DEX. Yes, you are correct that our DEX (HAVE Token) is backed by a diversified portfolio of high-quality assets, which will be tokenized and listed on Have.Exchange. This means that the token’s value will be tied to the underlying asset portfolio, providing a more stable and secure investment option.

We appreciate your feedback regarding the need for a more clear indication of the NFTs backing our DEX. We will take note of this and ensure that this information is included in our platform.

Regarding our roadmap, we do have a detailed roadmap available on our website. You can check it out here: https://have.exchange/roadmaps/. We have ambitious plans for the future of our project and we are working tirelessly to bring our vision to life.

Thank you again for your feedback and please feel free to reach out to us with any further questions or comments.

I wonder what happened to all the thousands of world changing and groundbreaking ICO projects launched years ago promising to reach the moons?

I can't help it, but NFT's behave the same way as ICO's, there is no actual value but only a facade making them look interesting.

Maybe I'm wrong, but I wouldn't spend my money on something which can be reproduced by anyone, and I wouldn't wanna pay for something that someone generated and could keep generating more.

Though if you could convince me with reason, as to why we need to pay any amount of money for pictures of monkeys? 🤣

Since this exchange is just starting, and I also looked at its platform, I was just curious and I also wanted to ask if it was placed on the platform that your dex is backed by NFT, right? It's not mentioned what NFT is backed by your DEX?

       Then you should also show your roadmap somehow, because this is where you can immediately see what the destination plan of this project will be in my opinion, it's just that it's not indicated, so this part you missed a bit in my opinion. Please revise it first because I think there is still a lot to polish.

What do you think are some potential improvements we could make to our project?

WORLDS FIRST ASSET-BACKED NFT DEX

Website: Beta V1.0
https://have.exchange

Lightpaper: Download V1.0
https://shorturl.at/vwNP3

Introduction:

Have.Exchange is a revolutionary new decentralized exchange that is set to transform the way we trade and own assets. By leveraging the power of blockchain technology and non-fungible tokens (NFTs), Have.Exchange is able to offer true ownership of assets to its users like never before.

Unlike traditional exchanges, where ownership can be obscured by complex legal agreements and intermediaries, Have.Exchange's Asset Backed NFT DEX offers a fully transparent and secure trading experience. Each NFT listed on the platform is backed by a real world asset, providing users with a clear and verifiable proof of ownership.

Problem:

1. Lack of underlying value: Traditional NFTs can often lack an underlying value, meaning that they are only valuable because people are willing to pay for them. This is problematic because the value of the NFT is solely based on demand, rather than any intrinsic worth. This can lead to inflated prices and a bubble-like market that is susceptible to crashes.

2. Uncertainty about ownership: Another problem with traditional NFTs is uncertainty around ownership. While an NFT may prove that you own a digital asset, it doesn't necessarily mean that you have the right to use that asset. Copyright laws still apply, and NFTs do not grant any additional usage rights. This can lead to legal disputes and confusion around what you are actually buying when you purchase an NFT.

3. Potential for fraud: Finally, traditional NFTs are susceptible to fraud. Due to the complex nature of blockchain technology, it can be challenging to determine whether an NFT is genuine or not. This creates opportunities for scammers to create fake NFTs or misrepresent the ownership of a digital asset. This can lead to buyers unknowingly purchasing counterfeit NFTs, losing their money in the process.

Solution:

Have.Exchange has developed a decentralized exchange (DEX) for asset-backed non-fungible tokens (NFTs), which addresses issues related to the value of NFTs. This platform connects each NFT with an actual physical or digital asset, like intellectual property or real estate, ensuring that there is a clear and verifiable underlying value for each NFT.

The platform also tackles the issue of fakes by implementing rigorous authentication protocols that verify the authenticity and ownership of each asset. The decentralized nature of the exchange ensures that transactions are secure, and the use of smart contracts automates the verification process, making it quicker and more efficient.

By offering asset-backed NFTs on a decentralized exchange, Have.Exchange has created a solution that provides both value and security to investors and collectors alike. This platform represents a new era in NFTs, where ownership and value are guaranteed and authenticated, allowing investors to confidently participate in the NFT market.

Objectives and Goals:

-To offer a broad range of asset-backed NFTs: We aim to bring diverse asset classes such as real estate, art, commodities, and more to our platform to provide our users with a wide range of investment opportunities.
-To ensure liquidity and efficiency: We strive to provide a platform that is efficient and easy to use for both buyers and sellers, enabling them to transact with low fees and high speed. Additionally, we aim to ensure there is always sufficient liquidity on the platform to enable smooth transactions.
-To prioritize security: We prioritize the security of our platform and the funds of our users. We implement best-in-class security measures and procedures to protect the platform from hacks and ensure that our users’ funds are safe and secure.
-To create a thriving community: We aim to foster a thriving and engaged community of users, developers, and asset providers who can collaborate and support each other in achieving their investment goals.

Roadmap with Timeline:

Q1 2023: Conceptualization and Research
Q2 2023: Initial Funding
Q3 2023: Develop and Launch MVP
Q4 2023: Grow User Base and Asset Pool
Q1 2024: Scale and Expand
Q2 2024 and beyond: Continuous Improvement and Expansion

Here's how you can get involved:

-Help spread the word about Have.Exchange. Tell your friends, family, and colleagues about our project and how it's going to change the way we invest in real-world assets.
-Invest in our project. We're currently raising funds to build our platform, and we'd love your support. We're offering early investors exclusive perks and benefits, so don't miss out!
-Contribute your skills and expertise. We're looking for developers, designers, marketers, and community managers to help us build and grow our platform. If you have experience in any of these areas, we'd love to hear from you.
-Provide feedback and suggestions. We want to hear from our community about what they want to see in our platform. If you have ideas or suggestions, we're all ears!

Prepared By
Ashish Singh Chahar
https://www.linkedin.com/in/ashish-singh-chahar/
https://twitter.com/chaharashish

Contact Us
[email protected]

Follow Us
twitter.com/have_exchange