The Empire Token (EMPIRE) is yet another blockchain they design to cash in nonfungible tokens (NFTs).
The first Empire project is the Empire Marketplace, a unique marketplace they design to help NFT owners generate revenue from their creations. NFT owners can create their own Binance Smart Chain (BEP-20) wallets with Metamask, create NFT collections, add NFTs to collections, and list NFTs for sale in the marketplace.
NFT categories for sale on Empire include Memes, Photography, Music, Tattoos, Domain Names, Pixelated, Cartoons, 3D Animation, Sports memorabilia, Games, Videos, and Art.
The Empire Marketplace
Collectors pay for NFTs with the Empire Token (EMPIRE). The Empire Token is a (BEP-20) Binance Smart Chain token. One of the primary uses for the Empire Token is live auctions for NFTs on the Empire Exchange. The auctions are up and running now.
The biggest name I could find on the Empire Marketplace was wrestling legend Dwayne “the Rock” Johnson. They have a Just Bring It NFT for sale feature some of Johnson’s classic wrestling stick. I wonder if Empire has an arrangement with World World Entertainment (WWE). The WWE owns the rights to Johnson’s classic matches.
They hope to connect the Empire Marketplace to the Ethereum (ETH) blockchain on 10 November 2021. In addition, they hope to connect Empire to the Solana (SOL) blockchain by the end of November 2021. Plus they hope to connect Empire to Launchpad by the end of November 2021.
Empire is selling partnerships for Binance Coin (BNB). For example, the Starter partnership provides social media announcements, a Medium Blog Partnership Feature, 2% transaction fees, and use of your native token for collection trading for five BNB a month.
The Intermediate Partnership offers a one week feature on the Marketplace in Category of Choice, Social Media Announcements, a Medium Blog Partnership, native use token, and 1% transaction fees for 15 BNB a month. The Premium partnership adds a Marketplace Homepage Feature, co-branding ads, Electronic Direct Mail, and 0.5% transaction fees to the Intermediate Partnership for 35 BNB a month.
The VIP Partnership adds a launchpad for huge NFT collections, the ability to create your own tokenomics, a profile on the marketplace, to the Premium Partnership.
Empire is Commercializing Now
Thus Empire is already selling products for cash on its website. Actual people are using Empire (EMPIRE) to buy and sell.
In addition, they are trying to generate subscription income through the partnerships. Hence, I think they are trying to commercialize Empire now rather offering vague plans for future commercialization.
They appear to monetizing Empire projects as they build them. Consequently, Empire could pay for itself as they build it.
What Value Does Empire (EMPIRE) have?
There is interest in Empire (EMPIRE). CoinMarketCap estimates Empire was the third most trending cryptocurrency on 29 October 2021.
In contrast, Empire Token was CoinMarketCap’s 2863rd most valuable cryptocurrency on 1 November 2021. CoinMarketCap gave Empire a Coin Price of 6.04¢ a Fully Diluted Market Cap of $60.399 million, , and a 24-Hour Market Volume of $5.202 million on the same day. They base those numbers on Maximum Supply of one billion.
In comparison, CoinGecko gave Empire a Coin Price of 6.122¢ and a $634,269 24-Hour Trading Volume on 1 November 2021.
I think Empire (EMPIRE) is a cryptocurrency to watch because it could make money from NFTs. I think the market for NFTs could be huge, and Empire could be an effective means of monetizing nonfungible tokens. Therefore, speculators need to watch Empire because its creators are serious about monetizing NFTs and their blockchain.