What's the origin of Monaco Planet NFT that exploded overnight?

The Monaco planet NFT, which was only launched yesterday, has actually emerged as early as the beginning of November. The NFT social platform Monaco Planet completed a seed round of USD 3 million, with participation from Three Arrows Capital and IMO Ventures. And Monaco Planet's platform NFT started casting on November 11. The NFT holders became the first seed users of Monaco Planet, and each seed user can invite 5 people. The created NFT content can be used for platform currency mining.

Since the platform is limited to Yacht NFT users and users with invitation codes to log in, the floor price of Yacht NFT on OpenSea has increased from the recent 0.09ETH to about 0.5ETH, and an invitation code has also increased to hundreds of dollars.

There are now more than 100 million wallet addresses in the world, and the number of cryptocurrency and non-fungible token (NFT) enthusiasts is increasing every day. The crypto community has economic strength, interconnected relationships, and the potential for seamless communication, but why doesn't it have its own social media? A true native encryption and NFT dedicated social media platform with a high density of fans has not yet been born.

In Monaco, users who post and display their activities can follow each other in the entire community, and the platform will also rank users based on their influence and NFT net worth. At present, the most influential user on the platform is HongKongDoll, and the user with the highest NFT net worth is unun.eth, reaching $163,000.

Monaco Planet NFT aims to play a role on the Internet from Web 2 to Web 3. In the short term, it uses blockchain technology to solve users’ social pain points and puts a series of key Web 3 functions into practical applications; in the long term, it is hope Become a new entrance to the high-frequency social activities of the encrypted crowd, and thus become the portal of the Metaverse, where users can control their data and get rewarded by creating high-quality content.

On traditional social platforms, creators’ content is often owned by the platform, and readers’ attention is also manipulated by the platform’s algorithms. The creators or readers did not get any rewards from it, instead, the platform and advertisers took the greatest profit.

On Monaco, the ownership and governance rights of the platform are determined by users. The "Write to Earn" mode of content mining allows active content creators and discussion participants on the platform to benefit. They can follow, like and comment, As well as NFT display and staking to obtain the platform's native token MONA. Among them, the vast majority of native tokens will be distributed to users who generate content, thereby creating a sustainable, inclusive and truly efficient form of mining.

A true SocialFi platform belongs to its users. Since most of Monaco Planet NFT native currency will be distributed to users as rewards for content creation, Monaco Planet is a truly decentralized autonomous organization managed by local token holders who can send proposals and vote. As a SocialFi platform, the ownership and governance rights of Monaco Planet are determined by the users themselves. In addition, holders of native tokens will enjoy the currency appreciation brought about by the platform's growing economic activity.