NFTWiki: The Encyclopedia of Non-Fungible Tokens

What is NFTWiki

Friends, imagine we are now living in a digital world filled with countless unique digital collectibles, such as digital art paintings, rare in-game items, and more. We call these NFTs (Non-Fungible Tokens). Non-Fungible Token (NFT): You can think of it as an “ID card” in the digital world—each one is unique, cannot be exchanged for another, and proves your ownership of a specific digital asset. NFTWiki (abbreviated as NFTK) is like a combination of an “encyclopedia” and an “amusement park” built for these unique digital collectibles.

Specifically, NFTWiki is a “hyperverse” that integrates real-world NFT art, a social review platform, and blockchain games. It’s not just a place to showcase NFTs, but more like a community where people can interact, review, and play around NFTs. In this universe, there is a concept called the “NFTWiki Consensus Universe,” inhabited by one million mysterious residents, which are ERC1155 standard NFTs called “ILLUMINION.” These “ILLUMINION” consume “consensus energy” from human world NFT artworks, and then produce NFTK tokens as rewards.

You can imagine NFTWiki as a huge online museum, not only displaying various exquisite digital artworks, but also providing dedicated areas for people to discuss and review these artworks, and even play games related to them. By participating in various activities in this museum, such as reviewing and contributing, you can earn rewards.

Project Vision and Value Proposition

The core vision of NFTWiki is to build a vibrant ecosystem around NFTs, aiming to solve the key issue of making NFTs not just static digital assets, but interactive carriers of value and consensus. It emphasizes the importance of “consensus” in the world of cryptocurrency and smart contracts, and extends this concept to the NFT field.

Compared to similar projects, NFTWiki’s uniqueness lies in the fact that it is not just an NFT marketplace or display platform, but integrates “social reviews” and “blockchain games” to form a “hyperverse” concept. It’s like combining an art auction house, an art review community, and an art-themed amusement park, allowing users to participate in the NFT ecosystem in a deeper and more diverse way.

Technical Features

Although the specific technical details of the whitepaper are not fully available in public search results, we can glean some key points from existing information:

• Blockchain Foundation: The NFTWiki project is built on blockchain technology, leveraging its decentralized and tamper-proof features to ensure NFT asset ownership and transaction transparency.


• Multi-chain Support: NFTWiki’s token NFTK has contract addresses on multiple blockchains, including Ethereum, BNB Smart Chain (BEP20), and Polygon. This means it may support cross-chain operations, allowing users from different blockchains to participate—just like people from different countries can conveniently trade using the same currency.


• ERC1155 Standard NFT: The “ILLUMINION” residents in the project are ERC1155 standard NFTs. ERC1155: This is a token standard on Ethereum that is more flexible than the commonly used ERC721 (where each NFT is completely independent). It can manage both fungible tokens (like in-game coins) and non-fungible tokens (like rare skins), making it more suitable for games and multi-asset scenarios.


• Consensus Mechanism: The project mentions concepts like “consensus energy” and “consensus mining.” This suggests that the project may encourage users to review, curate, and contribute to NFT artworks through some mechanism, thereby forming community consensus, which is used as the basis for rewarding NFTK tokens. It’s like a community where the more lively the discussion and the more contributions, the more community points you can earn.

Tokenomics

The native token of the NFTWiki project is NFTK, which is the main circulating currency in this “hyperverse.”

• Token Symbol: NFTK.


• Issuing Chains: Ethereum, BNB Smart Chain (BEP20), Polygon.


• Total Supply: According to CoinMarketCap, NFTK has a total supply of 604,384,326.74 tokens, with a maximum supply of 2,100,000,000 tokens. Total Supply: Refers to the total number of tokens ever minted in the history of the cryptocurrency, including those that have been burned. Maximum Supply: Refers to the maximum number of tokens that can exist over the entire lifecycle of the cryptocurrency.


• Circulating Supply: The project reports a circulating supply of 300,634,327 NFTK, accounting for about 14.31% of the total supply. Circulating Supply: Refers to the number of tokens currently available for free trading in the market.


• Token Utility:
  • Rewards: Users can earn NFTK tokens as rewards by participating in “consensus mining,” i.e., reviewing and contributing to NFT artworks.
  
  
  • Payments within the Ecosystem: NFTK is the main currency in the NFTWiki “hyperverse,” possibly used to purchase in-game items, services, or participate in other ecosystem activities.
  
  
  • Staking: The project has launched “locked staking” activities, allowing users to stake NFTK to earn more NFTK rewards. Staking: Locking your tokens in a blockchain network to support its operation and earn rewards, similar to earning interest from a bank deposit.
  
  


• Inflation/Burning: Currently, public information does not detail specific inflation or burning mechanisms.


• Distribution and Unlocking: Public information does not detail the specific token distribution ratios and unlocking schedule.

Team, Governance, and Funding

Currently, public search results do not provide detailed introductions to the core team members of NFTWiki. There is also no detailed information about specific governance mechanisms (such as DAO organizational forms) or treasury funding runway. Typically, a healthy blockchain project will have a transparent team structure and clear governance plan, allowing community members to participate in project decision-making.

Roadmap

Although a clear timeline roadmap was not found, some historical milestones and events, as well as the project’s development direction, can be seen from NFTWiki’s Medium page:

• Early Updates: Published guides on how to earn NFTK and beginner’s guides for newcomers.


• Feature Launches: Launched NFTK withdrawal functionality supporting the Polygon network.


• Partnerships: Established a partnership with The OpenDAO.


• Incentive Activities: Rolled out NFTK withdrawal, locked staking, NFT owner claiming guides, consensus mining information, and New Year airdrop events.


• Community Building: Introduced referral reward features and the NFTWiki Influencer Program.

These events indicate that the project is continuously launching new features, expanding partnerships, and incentivizing community participation, but for future specific plans and timelines, more detailed official documentation should be consulted.

Common Risk Reminders

Investing in any cryptocurrency project comes with risks, and NFTWiki is no exception. Here are some common risk reminders:

• Market Risk: The NFT and cryptocurrency markets are highly volatile, with prices that can rise or fall rapidly. The NFT market saw a sharp decline in 2022, with over 95% of NFT collections dropping to zero value.


• Technical and Security Risks:
  • Smart Contract Vulnerabilities: Blockchain projects rely on smart contracts, and if there are vulnerabilities, assets may be lost.
  
  
  • Platform Security: Platforms may face risks such as hacking and data breaches.
  
  
  • Link Rot: NFTs usually only contain links to digital content, not the content itself. If the server storing the content has issues or the link fails, the digital asset represented by the NFT may become inaccessible.
  
  


• Economic Risks:
  • Liquidity Risk: If NFTK token trading volume is insufficient, it may be difficult to sell when needed.
  
  
  • Valuation Uncertainty: The standards for valuing NFTs and related tokens are still evolving, and there may be bubbles and speculation.
  
  


• Compliance and Operational Risks:
  • Regulatory Uncertainty: Global regulatory policies for cryptocurrencies and NFTs are still evolving, and future policy changes may impact project operations.
  
  
  • Intellectual Property Issues: NFT ownership does not necessarily equate to intellectual property rights of the content it represents. Purchasing an NFT usually only grants proof of ownership on the blockchain, not necessarily copyright or usage rights.
  
  
  • Project Operational Risk: The execution ability of the project team, community maintenance, and fund management can all affect the long-term development of the project.
  
  

Please remember, the above information is not investment advice. Be sure to conduct thorough personal research and risk assessment before investing.

Verification Checklist

To gain a more comprehensive understanding of the NFTWiki project, you can further consult the following information:

• Block Explorer Contract Addresses:
  • Ethereum contract address:
    0xCCb4...78576F
  
  
  • BNB Smart Chain (BEP20) contract address:
    0xa8F4...eDb41D
  
  
  • Polygon contract address:
    0x5142...a9E8f0
  
  

  Through these addresses, you can view token holder distribution, transaction history, and contract code on the corresponding block explorers (such as Etherscan, BSCScan, Polygonscan).

  
  


• GitHub Activity: Check whether the project has a public GitHub repository and observe its code update frequency and community contributions, which can reflect the project’s development activity.


• Official Website: nftwiki.org


• Official Documentation/Whitepaper: docs.nftwiki.org (Note: The detailed whitepaper content was not directly obtained in this search; users are advised to visit and consult the latest materials themselves).


• Social Media: Follow the project’s official social channels such as Twitter, Telegram, Discord to learn about the latest developments and community discussions.

Project Summary

NFTWiki (NFTK) is a project aiming to build an NFT “hyperverse,” integrating NFT artworks, social reviews, and blockchain games, and attempting to reward users with NFTK tokens through mechanisms such as “consensus mining” for participation and contribution. The project’s token NFTK is issued on multiple chains, with clear data on total and circulating supply, but details on the tokenomics (such as inflation/burning, unlocking plans) and team/governance information are relatively limited in public sources.

Overall, NFTWiki offers a unique perspective for interaction and value creation around NFTs, seeking to go beyond a simple trading marketplace. However, like all emerging blockchain projects, it faces risks from market volatility, technical security, regulatory uncertainty, and more. For those without a technical background, understanding its core concepts and potential risks is crucial.

Please remember, all the above information is for reference only and does not constitute any investment advice. Before making any investment decisions, be sure to conduct in-depth personal research (DYOR - Do Your Own Research) and consult a professional financial advisor.