Polyient, the industry-leading investment group behind Polyient Games, has introduced the Polyient Network, a decentralized data network for non-fungible token (NFT) pricing that will support a new generation of synthetic assets built on top of the NFT asset class.
“The growth of the NFT market has undoubtedly been stifled by a lack of efficient price discovery for these assets across the emerging use cases,” said Polyient Games co-founder Craig Russo. “We’ve struggled with this issue first-hand and are building the Polyient Network to empower developers, collectors and investors alike with the tools to better navigate this market.”
The Polyient Network consists of two major elements:
- A data oracle system that combines both primary and third-party data sources into an efficient pricing model for both live and predictive NFT appraisals.
- A synthetic asset platform that leverages the real-time NFT appraisal data to generate liquid products on top of the NFT asset class.
To facilitate the larger NFT market, the Polyient Network is being developed as a cross-chain protocol that encompasses the leading layer 1 and layer 2 networks. This approach will ultimately enable standardization and interoperability for the NFT asset class.
Motivation for the Polyient Network stems from Polyient’s active participation in the NFT market, both as a leading investor and development studio building the Polyient Games Ecosystem.
“The Polyient Network is the latest addition to the growing list of innovations from the core Polyient team as we continue to pioneer the constantly-growing NFT space,” said Polyient CEO Brad Robertson. “This new network will function as the bedrock for the mainstream adoption of this exciting asset class.”
The initial system designed to feed into the Polyient Network, called NFT Market Cap, will soon be available in beta. NFT Market Cap is the first decentralized analytics platform for the NFT asset class and will feature industry-first approaches to gathering, filtering and analyzing token valuation data.
“The current methods of data analytics in the NFT space are extremely biased and ultimately very limited in scope,” added Russo. “With NFT Market Cap, we are looking to bridge heavy data science with the ethos of the decentralized cryptocurrency community to help drive Polyient Network’s NFT appraisal engine.”
To kickstart the network, Polyient is conducting an industry-first NFT sale for Polyient Network Token (PNT) NFTs. These NFTs are collectible items at their core, but also have expanded user-driven utility.
Once purchased, the PNT NFTs can be used in special vaulting contracts to farm the fungible PNT. This token is the utility and governance token for the Polyient Network, and will be used to (1) pay for NFT data; (2) pay node providers through staking awards; and (3) obtain collateral for the synthetic asset platform.
The total supply of PNT tokens will be capped at 10 billion, with 20% initially available for farming during the initial vaulting period. A total of $500M in NFTs will be available for purchase during the initial vault NFT sale, which is slated for Q2 2021.
Two tranches of discounted private rounds for PNT NFTs are currently available for accredited investors. Interested parties may contact the Polyient team here.
“We’ve been actively developing a new approach to vaulting technology that enables users to better leverage their NFT assets,” said Polyient’s Head of Product Nick Casares. “With this initial PNT vault, we aim to offer a primetime example of how this system can function as a hyper-efficient method of launching new NFT token economies.”
Polyient aims to expand its vaulting technology throughout the remainder of the year to the Polyient Games Ecosystem with additional third-party adoption of the Initial Vault Sale (IVS) method.
For more details about Polyient and this new Polyient Network, visit www.polyient.io.
About Polyient Games
Polyient Games is a unique investment ecosystem focused on the non-fungible token (NFT) and decentralized finance (DeFi) markets. Polyient’s portfolio includes both equity and token holdings from leading NFT and DeFi projects.