Valiant Eagle Inc. is pleased to announce that it has commenced development of its state-of-the-art NFT Marketplace under the name “Fungy.”
Fungy is a software that will allow digital artists and creators to issue, buy and sell custom crypto assets that represent ownership in their digital work. Fungyis both a marketplace for those assets, as well as a distributed network built on the Ethereum blockchain that enables their trade without a middleman.
At its core, Fungy will be an NFT (non-fungible token) platform for securing digital collectibles secured with blockchain technology. The platform allows users to buy and sell various digital collectibles or NFTs, similar to OpenSea.
In addition to buying and selling existing digital assets, users can also use Fungy to create NFTs, commonly known as minting. There lies the companys competitive advantage as now various content creators, for example an artist, could sell their creations, such as books, music albums or movies, as NFTs by utilizing this minting function.
Additionally, the artist might choose to then offer prospective buyers a sneak peek of the content, effectively a preview, trailer, or snippet, but only release the full content once a person purchases the relevant NFT.
Valiant Eagle will monetize the platform by charging a small minting fee to attract users then charge additional fees based on a percentage of the sale price.
Xavier Mitchell, CEO of Valiant Eagle Inc., states, This is a massive endeavor nonetheless the fruits of our labor will add tremendous shareholder value. There are only a select few marketplaces for NFT works. The existing ones are costly for artists. Ours will be competitively priced with the minting function to be priced slightly above cost. Our own NFTs will be showcased in the next few weeks in which we expect to garner considerable interest.
What are NFTs?
NFT stands for non-fungible tokens, which relates to tokens that are verifiably unique from each other. Seeing as these digital tokens are entirely unique, these are not generic. Consequently, one NFT cannot be swapped for another. Instead, NFTs can effectively signal digital ownership, seeing as they are not mutually interchangeable.
Tim Drapers Dapper Labs has been a key pioneer of NFTs. From the launch of the first real NFT craze in CryptoKitties, to its latest hit with NBA Top Shot, Dapper Labs has been a real driver of adoption amongst the crypto community.
NFTs are reaching new heights in 2021, as athletes and celebrities begin to get more involved in minting. In mid-June 2021, a rare CryptoPunk NFT reportedly sold for $11.7 million at a Sothebys auction.
The past six months have brought NFTs into the forefront of the cryptocurrency industry. Given the success seen with NBA Top Shot and other NFT platforms, we feel the market is still in the very early stages of growth. Valiant Eagle will look to capitalize on this growth opportunity as we can utilize our extensive media assets in creating subject matter for the NFTs including content from, but not limited to, Fathers of The Sport and American Basketball Association Canada, noted Mr. Mitchell.
The company plans to engage leading marketing expertise and NFT industry professionals in order to guide Fungy through its development and subsequent launch. Additional information will be released as the process progresses.
About Valiant Eagle, Inc
Valiant Eagle Inc (PSRU:OTC) is a publicly-traded corporation focused on the energizing of celebrity entertainment, social media and TV communications. VE aims to achieve an unparalleled advancement towards media through music, sports and, with respect to the millennial generation, through technology. Technology is an important part of our life especially in the last century more than ever. With benefits such as speed, accuracy, unlimited information and more, the internet has provided various means of communicating without delay nor difficulty. However, a level of consumer satisfaction has yet to be reached. Valiant Eagle, Inc. looks to fill this void.
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