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An artificial intelligence-supported marketplace was launched for NFTs, defined as digital certificates that turn digital artworks and collectibles into registrable and salable assets. The platform, called Smaugs NFT, contributes to the spread of digital artifact production with low transaction fees.

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İSTANBUL (TR) - The innovations brought by technology and digitalization have also transformed the art world. As digital product ownership spread, another important move came from Smaugs NFT. Positioned as an artificial intelligence-supported marketplace for NFTs (non-fungible tokens), defined as digital certificates that turn digital artworks and collectibles into registrable and salable assets, the platform announced that it will allow works to be easily digitized and offered for sale. Smaugs NFT Founder, computer engineer Emre Ulgaç said, “As a team, we have developed a system to create new NFT products using artificial intelligence. We also aim to provide users with much richer payment options by collaborating with many different tokens.”

Many different tokens can be bought and sold

Explaining the starting point of the Smaugs NFT project with the opportunity to access new financial opportunities that the blockchain and cryptocurrency-focused decentralized finance concept offers to people from all over the world, Emre Ulgaç said, “DeFi, which stands for Decentralized and Finance, has emerged as a rapidly growing alternative to the traditional financial system. NFT tokens have also become popular recently in an ecosystem built on the principle of transparency. However, we found that they lacked two important things which are liquidity and some incentives needed in the crypto space. This is where DeFi protocols come into play and help NFTs with incentive mechanisms we call 'Yield Farming and Stake'. We have created an ecosystem consisting of Governance and DeFi as well as NFT by implementing the artificial intelligence supported NFT market Smaugs NFT. The biggest difference that distinguishes this marketplace from others is that many different tokens can be bought and sold and it sends random NFT Token gifts to its users. In this system, which is completely left to the users with its decentralized function, it is possible to easily digitize the works and put them up for sale.”

“We aim to create a fairer marketing ecosystem”

Emre Ulgaç conveyed the details regarding the functioning of the beta, that is, the testing stage, as follows: “The products in Smaugs NFT will stand out according to the number of views of other users. An advertising system will be created for users who cannot provide this. In addition to highlighting the products they want on a daily or monthly basis, users will be able to reach more people by directly highlighting their own profiles. Various advertising activities will be carried out not only inside the platform, but also outside, and 10 new users will be given free advertising rights every day. In this way, we aim to create a fairer marketing ecosystem where everyone can generate income. In this context, we will allow NFT tokens to be locked using staking and withdrawn with more value when the staking expires, and DeFi, NFT markets to grow with reward incentives for trading or creating rare collections. Moreover, we will also offer the opportunity to earn Smaugs Tokens for these transactions.”

Safety rating 91 out of 100

Emre Ulgaç stated that the Smaugs NFT (SMG) token, which has a total supply of 90 million, is listed on Pancakeswap, Biki.com and Bitmart stock exchanges and they expect it to be listed on one of the major stock exchanges in the near future. “One of the biggest advantages that Smaugs NFT offers is low transaction interruptions. Transaction interruptions on systems on the Ethereum network range from $3 to $50, while on the Smaugs NFT platform they range from just 10 to 50 cents. Among the partners and sponsors of the project are Tosdis Finance, Dapp, Nuls and CertiK. CertiK is a company that oversees smart contract and blockchain networks and produces security solutions not only for decentralized systems but also for centralized systems. According to the current data of CertiK, the rating of Smaugs NFT is 91 out of 100.”