Abstract

Our name is inspired by Ada Lovelace, the world's first computer programmer.

Non-Fungible Tokens (NFTs) have rapidly gained recognition as record art sales top tens of millions of USD. While these transactions make for great headlines, the vast majority of NFTs listed on marketplaces remain unsold, and for those that do manage to trade hands, their secondary market value is often weak or non-existent.

The issue relates to a combination of low-desirability stemming from low-quality work of unknown origin or provenance as well as lack of utility and usefulness to the buyer. Thus NFTs are destined to a life parked in a blockchain wallet as their purpose and value fade.

The marketplaces that sell them often contribute to this as they derive the bulk of their earnings from transactions on first issuance and re-sale, even as prices continue to decline as they exchange hands. Thus, they are not invested in the issuer of the NFT nor their communities, leading to low-quality and low-utility NFTs being minted and sold on their platforms. Because of this, there is virtually no distinction between the many NFT marketplaces that currently exist.

Lovelace World is our answer to this. By creating a broad solution that encompasses the curation, conceptualization, creation and sale of high-utility NFTs across multiple blockchain topologies, we bring value to NFT issuers and purchasers where none had previously existed. Our “metaverse as a service” helps projects envision newfound experiences with their NFT ecosystems, increasing engagement, driving repeat patronage and opening up opportunities for new economies and trade. Lovelace offers participants access to the world of Play-to-Earn gaming through various partner metaverses using NFTs as the conduit for gamers to enter into the cryptocurrency space. We have expressed this in our very own NFT offering – Adanimals. Owners of these NFTs earn rewards while unlocking functionality within the Lovelace and broader partner metaverses.

Our solution is focused on the Cardano ecosystem, but will support many networks such as Ethereum, Binance Smart Chain, Polygon, Solana and Astar. Our ambitious project breathes new life into an industry that was relegated to collectibles and digital art. With the full support of robust blockchain technologies, we believe NFTs were meant to do more.