What Is NFTStyle (NFTSTYLE)?
NFTStyle (NFTSTYLE) is a decentralized exchange platform powered by Binance (a crypto platform) that allows fashion idols, stylists, world brands, and artists to guide the fashion world. The protocol aims to provide an opportunity to the users to evolve as an idol in the new metaverse (a virtual world where people can trade, explore, and interact) of fashion and develop creative designs on the NFT Universe.
The non-fungible token (NFT) technology tends to change the future of fashion. NFTStyle is the first project in which fashion icons, stylists, world brands, and artists may guide the world of fashion. The platform aims to empower users to integrate their styles by generating unique creations in NFTs with blockchain technology.
Further, the NFTStyle platform seeks to solve critical problems underlying decentralized money, free thoughts, and crypto, unclaimed and unacknowledged. Additionally, the network aims to be a currency that helps its traders and developers and permits them to make secure acquisitions.
NFTSTYLE is a native token of the NFTstyle platform that runs on the Binance Smart Chain (BSC), a parallel chain that runs smart contracts on the Binance exchange. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.
According to its whitepaper, the network also supports it as an operational token by utilizing its token in transactions on the Marketplace. The burning of the commission rates every month makes the token unique. A certain percentage of the amount is redistributed for burning, development, and marketing on every transaction.