The Birth of NFT 1.0 And Its Unexplored Potentials

Embark on a journey to NFT 2.0 powered by Defi

Welcome to Pilgrim-age, and welcome to NFT 2.0.

Pilgrim enables a next-generation NFT ecosystem, where NFTs are properly valued reflecting demand in real time.

Earn continuous yield on NFTs without liquidity limitations, and without selling them as a whole.

Compose NFTs with atomic price feeds, enabling valuation and compatibility of nonfungible DeFi positions for the first time ever.

The introduction of NFT has enabled permissionless ownership of unique digital items. However, valuing such NFTs were difficult until a full buyout has occured on an auction-based marketplace, such as OpenSea.

It was also impossible for NFT owners to earn continuous yield on NFTs, excluding cases where the NFT itself has been granted utility by external protocols and Dapps.

NFTs enabled unique digital items without relying on centralized parties for the first time, utilizing the same tech that enabled crypto.

Artworks were the first to arrive; the actual potential of NFTs, however, goes far beyond just artwork.

Although this approach has been quite successful, the very first settlers had key limitations; low liquidity and inadequate price discovery.

NFT 1.0 gave us no clear means to valuate, let alone answer, ‘DYOR’.

This not only became a problem for art NFTs like BAYC or PUNKs, but also for anyone who have received NFTs for Uniswap V3 positions.

Considering their significant role in decentralized exchanges, potential returns on such nonfungible positions are significantly lower compared with uniform liquidity-based curves, such as Uniswap V2.

There have been several attempts to solve this problem, of which most of them have failed to directly address the issue of liquidity required for valuation.

For instance, fractionalized NFTs — including NFTX — enhanced accessibility for potential buyers to own a high-value asset at a low cost. Such approaches, however, still require manual management of liquidity, which leads to flawed valuation models.

NFT 2.0 is a divine journey to solve these problems collectively. This is the most successful and advanced progress made in combining DeFi with NFTs.

Pilgrim will bring about a huge change to both buyers and listers.

NFT 2.0 also does not incur issues with liquidity. This is because within Pilgrim, liquidity management is done algorithmically.

These attributes of Pilgrim can be beneficial not only for art NFTs, but also in discovering hidden potential. Reducing barriers of governance tokens and derivatives due to low liquidity, and extracting new earning streams out of Uniswap v3 positions are some examples of this.

Remarkably, despite the diversity of contents, NFT 2.0 embraces them all under this unified framework that was nonexistent since the emergence of the concept of NFTs themselves.

No limitations restricted to NFT 1.0 and liquidity matters under the mission of peer atomic valuation.

We shall no longer permit the value of NFTs to be undermined by bare intuition of uninformed individuals.

Join us on this divine journey.

Join the Pilgrims here

To Learn more about Pilgrim Protocol:

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