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Fiverr NFTs: What Are They? How to Get One?

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In the world of crypto, you can never have enough different tokens. There are tokens that represent companies, services, products – you name it. In the rare case when a company decides to launch an NFT, or Non-Fungible Token, this is usually a sign that something special is about to happen. Because these tokens are all different from each other, which makes them much more valuable and useful than your average ERC-20 token. Fiverr’s new non-fungible token (NFT) is one such project. If you are not familiar with fiverr or their new cryptocurrency tokens, here’s what you need to know:

What is Fiverr?

Fiverr is a marketplace for services where buyers can purchase “gigs” (short-term jobs) that start at $5. The site is well-known for its low prices and quick turnaround times, though it has attracted criticism for its less-than-scrupulous users. The company has raised nearly $600 million from investors, including Chinese internet giant Tencent, and it was valued at $1.6 billion in June 2018. While Fiverr has no shortage of customers, it struggled to expand its user base in the early years of its operation. In response, the company has shifted its focus from sellers to buyers. Fiverr has since added new features that allow its users to build their brand, promote their business, and connect with customers.

Why did Fiverr create their own NFT?

NFTs were created to solve some of the issues that plague the standard ERC-20 tokens. These tokens are not fungible, so each token has a different value based on its individual qualities. NFTs are all identical, meaning that every token is exactly the same as every other token, which makes them much more valuable and useful. Fiverr tokens, or FVR, represent a “unit of service,” according to company CEO Micha Kaufman. This means that each token owns a part of the $5 purchase price, which ensures that buyers and sellers both get their money’s worth.

How to acquire a Fiverr NFT?

First, you will need to acquire some WETH (or a similar ERC-20 token), which you can then exchange for FVR. You will have to navigate through a few different exchanges, but it is actually quite simple. When the FVR token launches, you will be able to exchange your ETH for FVR in the same way that you trade on any other exchange. You can also purchase FVR tokens through the Fiverr ICO. The ICO will accept ETH and BTC, with a minimum investment of 0.1 ETH or 0.001 BTC. Fiverr tokens are expected to hit exchanges within the next few months, and the team is currently running a beta test of the token. You can still join the beta test and earn some free tokens, and you will receive an extra bonus once the tokens launch officially.

What are the benefits of owning a Fiverr NFT?

The most obvious benefit of owning a Fiverr NFT is that it gives you access to services that you would probably never use otherwise. While it is true that no one really knows the future, it seems unlikely that you will ever need a rap song written by someone in Bangladesh. But what if you could turn that useless token into something else? If you own a Fiverr token, there is a chance you could exchange it for something that may be more useful to you. NFTs can be used as collateral for loans, and there are already several crypto lending platforms where you can use your tokens as collateral. You can also sell your NFTs to other investors, and you can even use them to pay for services.

Conclusion

NFTs are one of the most exciting and groundbreaking developments of the blockchain and cryptocurrency industry. Fiverr coins seem to be a great way to introduce this new technology to the masses. If the Fiverr tokens are successful, we may see more and more companies use NFTs. That would greatly increase the utility of blockchain technology, greatly expanding the industry in the process.

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