The VANCAT Token platform is a new protocol layer that opens the door to a new universe of NFTs. The platform is created using the Binance smart chainnetwork. It enables consumers to swap BEP20 tokens (any tokens) into an NFT with ease. The platform is also utilized to create NFTs using artificial intelligence. BEP-20 is a token standard on the Binance Smart chain that enables users to trade in fungible tokens and cryptocurrencies.
According to Whitepaper, the platform is compatible with NFTs manufactured with the VANCAT NFT Minting Station. VANCAT conducts the above process to maintain the security of platform users. The NFT minting station (DApp) enables users to mint NFTs in two different methods, namely:
The VANCAT token serves as the VANCAT platform's governance token. The NFT marketplace is using the VANCAT Token. So, when an NFT (standard or special) is traded, the customer pays VANCAT Token to purchase NFTs, and VANCAT Token holders benefit by 5% from this transaction.
The Van Cats are the core concept behind the VANCAT token distribution, and the token seeks to have nine decimals since a cat has nine lives. (Van cats are a unique domestic cat landrace found in eastern Turkey's Lake Van area.) The platform also intends to create an initial DAapp on top of the VANCAT Token Protocol to be utilized with the developing cryptocurrency art industry, to quickly expand with further DApps covering a more comprehensive range of NFT applications. These NFTs are generally focused on Art/Collectible NFTs.
