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Tuesday, 07 February 2023
How YO Mobile is Democratizing NFTs for its Users.

How YO Mobile is Democratizing NFTs for its Users.

2022-10-29

Non-fungible tokens (NFTs) are the perfect use case for blockchain technology. Unlike standard cryptocurrency tokens, NFTs cannot be duplicated or counterfeited; they are one-of-a-kind tokens that can transfer ownership, be used as a game asset, or grant special access to an individual or company. As a result, NFTs have seen rapid adoption in gaming and virtual reality applications, where unique characters and objects like CryptoKitties take center stage. However, for the average user—especially one who is not technologically savvy—getting started with an NFT may seem out of reach. That’s why YO mobile, a mobile video streaming platform that serves over 100 million users worldwide, is democratizing the adoption of NFTs with its new feature: The YO Crypto Store.

What is the YO Crypto Store?

The YO Crypto Store is a digital marketplace where users can buy, sell, and trade blockchain-based virtual items such as NFTs through their existing YO mobile user account. The feature is accessed through the YO mobile app and can be easily navigated by anyone with no technical knowledge of blockchain.

The YO Crypto Store was designed as a more accessible version of an existing blockchain feature. YO tokens, the native cryptocurrency of the YO mobile app, were distributed to users during an initial coin offering (ICO) in fall 2018. The YO Crypto Store allows those who own YO tokens to exchange them for NFTs through the app, such as rare kitty collectibles, exclusive avatars, and special YO virtual gifts.

How does the YO Crypto Store work?

To begin, users can select from a variety of NFTs available on the Crypto Store. They can then select an item, pay with YO tokens, and pick a time for the item to be delivered to their account. When an item is purchased, the platform’s smart contract technology logs the transaction to the blockchain. The user can then navigate to a Crypto Store section of the app where their new virtual item is stored. They can unlock their new item by clicking a button that will be delivered to the user’s account when the blockchain transaction is verified.

Benefits for Users of the YO Crypto Store

Ease of Use – The Crypto Store allows users to easily acquire NFTs and start using blockchain technology without having to understand how the technology works. Customizability – Users can personalize their Crypto Store experience with a variety of NFTs, such as rare kitty collectibles, exclusive avatars, and special YO virtual gifts. Users Earn YO Tokens – Users can earn YO tokens by selling their NFTs on the Crypto Store.

How YO Mobile Makes Blockchain Accessible

The YO Crypto Store is just one of the features that makes blockchain more accessible to its users. YO mobile allows its users to choose which blockchain functionality they want to use, allowing them to participate in blockchain technology without having to go all-in.

 
 
 

YO Tokens – YO tokens are the native cryptocurrency of the YO mobile app. The tokens are used for in-app purchases, gifts, and gifting, as well as to access premium content. The token can also be used on the Crypto Store.

YO Blockchain – The YO blockchain is a sidechain of the Ethereum blockchain; this means that it is fully decentralized and operates independently of the Ethereum mainnet. The YO blockchain allows users to buy, sell, and trade their NFTs on the Crypto Store.

How Users Can Earn and Spend NFTs with YO Crypto

Earn NFTs – Users can earn NFTs simply by using the YO mobile app. The more they participate in the app—watching videos, completing surveys, and sharing content—the more NFTs they can earn.

Spend NFTs – Users can spend their NFTs on in-app purchases, gifts, premium content, and to access certain premium features.

Why a User-Friendly NFT Platform Matters

With the rise of blockchain and NFTs, users can explore a new digital frontier of digital assets. But without a user-friendly platform, the adoption of these new technologies falls short. YO mobile understands this and has made an effort to make blockchain accessible to its users in an intuitive and user-friendly way. A user-friendly NFT platform allows more people to experience the benefits of blockchain technology and better understand why it matters.

Final Thoughts

NFTs are an essential piece of the decentralized internet; they are collectibles with value, ownership, and scarcity. However, to reach their full potential, NFTs must be easy for all users to access. With a user-friendly NFT platform like YO mobile, the adoption of blockchain can become a shared experience for all.

 

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