All aboard the HYPE train

Launch announcement: HYPE — powered by EcoFi — open NFT marketplace.

Published in

EcoFinance

4 min readAug 2, 2021

HYPE powered by EcoFi is launching. It is a milestone for the journey of art-NFTs and the start of the most exciting month in EcoFi’s history, bringing EcoFi is one step closer to decentralising the art world.

HYPE is launching legally binding NFTs that grant fractional ownership from a collection of some of history’s greatest artists. Some select pieces will be displayed at an exclusive private party later this week, hosted by Opensea and attended by A-list celebrities.

A barrage of mainstream press will be at this event for a reason — fine art is finally being placed within reach of the average Joe. Getting a foothold in the valuable NFT market has been a hit and miss affair for most, with artwork either out of reach or of uncertain quality. This is a chance for DeFi users and the general public alike to get their hands on NFTs of real value, backed by verifiable assets. Matisse, Picasso, Pollock and Warhol are some of the names to be found in HYPE, with more to be revealed in short order.

With all the anticipation, there may well be a rush on to claim the NFTs for the most sought-after paintings: when you buy all 100 NFTs, EcoFi will deliver the real painting directly to you. You want to own a masterpiece? Here is your chance.

Get HYPE Early Access & Win an EcoFi NFT

To gain the jump on everyone else by getting first access to the HYPE platform, as well as a chance to win a one-of-a-kind NFT, retweet EcoFi as much as possible in the coming week and complete the form here.

HYPE Marketplace — The Details

HYPE is an open marketplace for buying, selling and minting art NFTs. The NFTs require $SPRT, $ECO or $ETH for purchase. $SPRT can be generated by farming $ECO tokens. This makes $ECO the perfect utility token: farming $ECO is like farming fine art. The locked $ECO may also create a supply pressure within the market as demand grows. This will only continue as future products are released.

The NFT creation process is simple. The scanned artwork or digital piece is uploaded on the interface, along with a description and category options such as art medium and date. The creator can then specify the number of NFTs the work will be fractionalised into, and request a percentage of royalties for future sales of each NFT. This information is minted onto the blockchain once the NFTs are created, and cannot be edited.

EcoFi Approved

Certain works will be “EcoFi Approved”, in order to differentiate user-generated artwork from the EcoFi collection. The sought-after masterpieces will fall under this category. This signifies they are verified real-world assets being presented on the HYPE platform. Look for the EcoFi-approved symbol to be sure it comes with EcoFi’s assurance of quality and integrity.

All EcoFi Approved works will be split into 100 NFTs. By purchasing all 100 NFTs, the original work will be delivered to the user.

The Future

HYPE is the first step for EcoFi on its journey into linking cryptocurrency to real world assets. It’s a huge moment, but there are greater plans still. With the breadth of talent in the development team, and industry nouse amongst the founders, EcoFi is seeking to become the industry standard for on-chain verification, fractionalisation and trading of real-world assets.

More to Come

It is going to be an action-packed month for EcoFi supporters. The launch of HYPE is our biggest milestone to date, and we have a whole calendar of updates for you. Expect AMAs, PR and a steady stream of high profile works making their way to the site. The only way to keep updated is to stay tuned.

HYPE is truly groundbreaking. Until now, no NFT solution has yet joined expert provenance with verification on an open blockchain. Until now, real-world art has not been fractionalised, shared and traded trustlessly at scale. And until now, no art collection has brought archived works to the digital world in a way that can still fill the viewer with awe.

The art world holds our shared cultural history, but that does not disqualify it from disruption. For too long our finest works have been inaccessible, and it is time we exposed the wealth of traditional art ownership to the democratising force of the blockchain. Get your piece of a masterpiece.

The art is real.