Burnt Finance: Spark Private Early Access NFT Protocol Launch on Solana
Burnt Finance launched its private early access to its Spark testnet, anyone can begin to mint new NFTs, participate in auctions, and make purchases with the lowest fees.
Spark will provide users with the first-ever look at the Burnt Finance platform, which currently stands as the first fully decentralized NFT auction Protocol built on Solana. Anyone will be able to mint new NFTs, purchase assets, and set up a wide array of auctions with the lowest fees.
The article here will provide more information and insights on Spark. You will also find details on how to stay updated as public access is enabled for both the product and rewards moving forward.
Introduction
The team behind Burnt played a major role in burning an authentic Banksy painting and later minting it as an NFT. The news garnered international attention as it received coverage from leading publications such as Bloomberg, CoinDesk, GQ, CoinTelegraph, BBC, CBS, HYPEBEAST, Art.Net, and many others.
While the burning of the Banksy itself was met with critical acclaim, they faced several major issues while actually minting and later auctioning the NFT. The minting fees were excessively high, transactions were slow, front-running and bid manipulation were rampant. To make matters worse, most venues for selling NFTs were extremely centralized.
So, they set out to create Burnt Finance which would be fast, fair, low cost and entirely decentralized for everyone. As a major benefit, Burnt would bring an intuitive front-end interface through which all users can easily access and mint new NFTs.
The world of NFTs has quickly gained attention with billions of dollars flowing through the ecosystem every month. Recently, institutions such as Visa and celebrities from Jay-Z to NBA Star Stephen Curry have hopped into the NFT industry. However, the platforms for minting and selling NFTs have not really changed, thereby leading to congested blockchain networks and prohibitively high fees. Building on Solana has helped Burnt Finance to achieve low costs and some of the fastest transaction speeds in the industry today (50,000+ TPS).
The team behind Burnt Finance has helped to pioneer a Solana NFT standard through the Solana NFT Alliance, raised a funding round from some of the most prominent investors in the industry, and became one of the first Solana projects to be accepted into the prestigious DeFi Alliance. Burnt Finance is now ready to unveil its first product Spark to the larger NFT, Solana, and crypto communities.
The Spark Testnet
A first look at Spark
On the Spark Testnet, anyone can begin to mint new NFTs, participate in auctions, and of course, make purchases. All of this is done seamlessly through the carefully curated user interface. Since Burnt is built on Solana, minting fees will be a non-issue while many transactions can be completed in under a few seconds.
Users will be able to mint both single NFTs as well as a collection that includes a wide assortment of different NFTs. From day one, Spark will provide a gateway to limitless possibilities concerning minting.
How to Get Early Access to Spark
The only way to get early access is by being a part of the Burnt Finance community. This includes joining Burnt Finance on Twitter and Discord.
You can join the waitlist via the Burnt Finance website 👉🏽 here.
Burnt Finance Timeline
About Burnt Finance
Burnt Finance is the first fully decentralized NFT auction protocol on Solana. Burnt allows users to take auctions into their own hands, enabling the minting and trading of any NFT in an entirely permissionless ecosystem. The platform can support auctions for NFTs, digital assets, synthetics, and much more. Given its unique Solana-based architecture, Burnt can achieve the fastest transaction speeds with negligible fees.
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