The strength of decentralized NFT data networks is transforming the NFT sector in the digital sphere making it safer for users and encouraging community involvement. Decentralization and active user participation are being used by bitCrunch, a major NFT data analytics platform, to influence good change in the NFT industry.
Companies, artists, and influencers now can establish tighter connections with their followers in a direct and immersive way thanks to the growth of blockchain-based tokens, especially NFTs. These tokens make it possible to develop fresh experiences that improve neighborhood involvement and promote a sense of belonging.
Initial coin offers (ICOs) were once the preferred technique for establishing blockchain project communities. Scams and price manipulation have compromised the effectiveness of this fundraising strategy. A shift toward honest pricing and scam-free operations is necessary to protect the NFT industry from comparable problems.
BitsCrunch cultivates active communities, offering unique services to digital artists and companies. They prioritize security for a safer marketplace. By utilizing the potential of artificial intelligence (AI), bitsCrunch assists NFT issuers and holders in reducing the risks connected to fraudulent activity, wash trading, and unfair pricing. After going public in 2021, the company focuses on decentralizing key activities within its data network. This move aims to enhance efficiency and resilience. To improve services and make the NFT environment safer for all parties involved, this effort must actively encourage user participation.
BitsCrunch is developing a decentralized network to address the difficulties of analyzing NFT sales data. Using cutting-edge computational and AI techniques connected to both on-chain and off-chain resources, the platform gathers and enriches data. The platform invites developers to contribute their knowledge and improve the algorithms through a community-driven approach. The bitsCrunch network equips NFT users with trustworthy statistics and accurate pricing data. It also provides robust fraud detection capabilities to ensure informed decision-making.
BitsCrunch, A Major NFT Data Analytics Platform
BitsCrunch has launched its incentive-driven test net, a crucial move towards decentralization and community engagement. This test net aligns with the company’s vision and marks a significant step forward. Decentralization of the test net will take place in stages, with the first phase concentrating on the data queue layer to enhance user experience and access within the bitsCrunch network. During the trial phases, we strongly desire cooperation and input from operators, projects, and users. Tight collaboration between bitsCrunch, its audience, and users is expected to be pivotal in network growth. This collaborative approach will contribute significantly to the network’s development.
During the test net phase, bitsCrunch intends to award participants with 1% of its token supply. Throughout the multi-year lifespan of the campaign, the incentives will be paid out in the native token BCUT and distributed across various periods. This strategy strives to increase contact and engagement between bitsCrunch, its community, and its users. The incentive test net will commence in June 2023 and continue until September 2023, coinciding with the planned debut of the main net. Both the open community and selected testers can participate in the testing process, although some restrictions apply, such as KYC verification for selected testers.
The endeavor by BitsCrunch is an important step in preserving the credibility and worth of the NFT community. Blockchain technology embraces decentralization and encourages active user participation, creating a safer environment for NFT enthusiasts. It aims to provide a more welcoming space for stakeholders in the industry.