The Lodicoin project is a Binance-based worldwide Filipino community utility token that aims to empower Filipinos and the cultural arts through three features: a digital wallet, a gallery, an NFT Creator, and a marketplace. This is the way of the future, and it’s what’s driving today’s creative economy.
Blockchain technology has the potential to create new economic, social, business, and technological models that will have a significant positive impact on business and society.
Blockchain technology is being used by innovators, businesses, and even individuals to take advantage of its key benefits, such as high security, transparency, and quicker processing.
The art and sports industries are no exception as blockchain continues to change practically every business. Non-fungible tokens, or NFTs, are revolutionizing the art and sports industries as one of blockchain’s most significant products. An NFT allows individuals and businesses to tokenize and monetise any asset, including artwork, audio, video, collectibles, and real estate.
However, many parts of the world, including the Philippines, still lack innovative alternatives like NFTs. As a result, content creators continue to sell their work in traditional and offline means, limiting their earning potential.
LodiApp intends to alleviate this dilemma by allowing content creators to monetise their work by utilizing the power of NFTs. To enable content creators to create, store, and sell NFTs, LodiApp will provide a comprehensive ecosystem that includes NFT Creator, NFT Wallet, and NFT Marketplace.
LodiCoin is a Binance Smart Chain-based utility coin that will power the LodiApp’s transactions. To purchase tokens, users can take part in the LodiCoin ICO. LodiCoins will be available on the LodiApp after the ICO sale, where they can be purchased in exchange for other cryptocurrencies.
Utility of LODI Coin
On the LodiApp, LodiCoin will be utilized for a variety of transactions. LodiCoin’s utility will rise as more people use it for transactions, which will boost its popularity and price in the future.
To create an NFT
Digital artists will be charged a certain fee to create their NFT on the LodiApp. This fee will be payable in LodiCoins.
To list an NFT
Digital content creators will be required to pay a specific amount of fee to list their NFTs on the Lodi Marketplace. Users will have to pay this fee in LodiCoins.
To buy an NFT
The buyers will have to use LodiCoins to buy an NFT listed on the Lodi Marketplace.
Benefits of LODI Coin
The LodiCoin token – underpinned by blockchain technology – will be instrumental in the following:
- Secure, peer-to-peer transactions
- Cross-border transactions with quick settlement time
- Elimination of third-party transaction fee
- Easy accessibility to everyone
The LODI Coin Ecosystem
The LodiApp will be fortified with different NFT modules to provide a complete ecosystem to users.
Lodi NFT Creator
The Lodi NFT Creator will make it possible for digital artists to tokenize their work and sell their NFTs on the market. The Lodi NFT Creator will allow artists to tokenize everything and everything, including artwork, audio, and video.
Lodi users will be able to transfer, receive, and store LodiCoins using the Lodi Wallet, which will be a digital wallet. Users will also be able to buy NFTs from the Lodi Marketplace using the wallet. In the future, the wallet will allow users to exchange LodiCoin for other cryptocurrencies including BTC, ETH, XRP, DOGE, and others. The Lodi Wallet will be available on both iOS and Android devices.
The Lodi Marketplace will be an online marketplace where digital artists’ non-fungible tokens will be listed. LodiCoins will be used to acquire NFTs from all around the world.
Key Elements of the LodiApp
Decentralized ledger for content creators
The NFTs created on the LodiApp will be recorded on the immutable distributed ledger. This will enable the creators to secure rights and monetization over their NFTs.
The LodiApp API will enable secure and seamless communication between different platforms, thereby contributing to augmented user experience.
The immutable smart contract will automate processes on the LodiApp, making them quick and transparent. The use of smart contracts will also eliminate third-party involvement to control transactions or the flow of users’ funds.
Benefits of LodiApp
Impregnable to Uncertain Events
The LodiApp will be an online ecosystem, which means it will be unaffected by any unforeseen occurrence, such as a natural disaster or a pandemic like COVID-19. The LodiApp will continue to exist as long as there is an internet connection, thanks to the underlying blockchain technology. LodiApp will continue to serve and benefit its users as a result of this.
Global Reach for NFT Creators
The LodiApp will allow digital artists to broaden their reach and sell their work as an NFT to a worldwide audience. Content providers will be able to increase their revenue potential by establishing a global presence.
A Platform Accessible to all
Unlike traditional stores, the LodiApp will offer a global platform that will be accessible to everyone from anywhere in the world. The LodiApp can be used by both NFT makers and purchasers to produce and purchase NFTs.
Creatives and other professionals will be able to avoid the requirement for a firm or an agency to sell their offerings by creating NFTs on the LodiApp. They will have complete control over their work, including the ability to monetize it.
LodiCoin Sale and Distribution
LodiApp will mint a total of 100 Billion LodiCoins, out of which 25 million tokens will be distributed during the Public sale and Private sale.