Established in 2016, Portion is a seamless, decentralized auction house and marketplace for creators and collectors to discover, collect, and sell NFT art, music, and collectibles. Built on the Ethereum Blockchain, Portion’s vision is simple as it seems to provide a transparent and trusted means to track provenance and exchange authentic, high-value goods in exchange for cryptocurrency.
Portion sources compile, and drop works from iconoclastic artists from across the media landscape, while the Community Curated Market empowers emerging artists and formats and allows them to earn up to 100% of the proceeds from their sales on Portion and 11% royalties on secondary sales.
Portion licenses its proprietary blockchain infrastructure to businesses in the art, collectibles, and luxury industries. They provide Blockchain Certificates of Authenticity with information originating from artists, galleries, manufacturers, and authorized retailers, and the Web 3.0 technology secures provenance, guarantees authenticity, and improves commerce and collecting for creators and collectors alike.
Portion operates on three pillars, namely the NFT, DeFi, and DAO. Portion’s NFT marketplace empowers artists to participate in a decentralized platform for the sale of NFT art and collectibles. Sellers on the platform feature artwork and collectibles catered to art aficionados and crypto collectors. DeFi includes the sharing economy with the PRT Token powering staking, royalties, bidding, and payments, and DAOs are the autonomous bodies that align incentives with decentralized governance and voting.
The issues with traditional auction houses include transparency, payment, bidding, and goods, and Portion solves these issues.
Concerning transparency, Portion’s use of Web 3.0 trust infrastructure results in a decentralized network. Portion’s Blockchain Certificate tracks the legitimacy of goods to ensure that items are authentic and properly represented. This data not only creates a more secure and transparent auction house, but also democratizes beneficial data from their network of authenticators, artists, creators, and users.
The native digital cryptographically-secured utility token of the Portion platform (Portion Token) is a transferable representation of attributed functions specified in the protocol/code of the Portion platform, which is designed to play a major role in the functioning of the ecosystem on the Portion platform and intended to be used solely as the primary utility token on the platform and ecosystem.
The Portion Token is issued on the Ethereum blockchain, which was chosen for its global redundancy and a large community of active development. In the spirit of blockchain technology, and to best empower creators and collectors, Portion offers unique benefits and incentives to receive and use the Portion token.
Who are the founders of Portion (PRT)?
The founder of Portion is Jason Rosenstein. Jason is a blockchain developer who identified the transformative and multifaceted capabilities of blockchain technology in 2011. He began building powerful machines to generate cryptocurrency and produced prototypes demonstrating the capabilities made possible by blockchain.
Jason has extensive experience in blockchain development and complex distributed application design. In his previous startups, he served as founder and developer. Jason’s areas of expertise also include system architecture, project management, and financial systems.
What is Portion (PRT) used for?
Low commission fees and high royalties
Portion aims to give creators (artists, brands, retailers) direct access to collectors without bloated fees and intermediaries. The marketplace enables these creators to sell directly to collectors with minimal fees. Portion artists keep up to 100% of proceeds from their sales and earn 11% royalties on secondary sales.
Enjoy a real metaverse experience
In addition to the NFT Auction House, Portion curates, designs, develops, and deploys metaverse experiences for major brands and artists.
Digital clothing and NFT
From ideation to estate acquisition, virtual storefront design and development, creation of digital wearables and NFTs, and hosting live events.
Portion’s team is devoted to helping your brand navigate and enter the metaverse with ease.
Lease your property
Portion also offers brands and artists the opportunity to lease their $1.2MM estate to host events, exhibitions, or other brand activations.
How is Portion (PRT) unique?
Portion offers loans and financing in crypto via a set of secondary smart contracts. It is shown that Portion’s users may collateralize authentic art and collectibles to receive secured loans. Portion may also offer loans to sellers as an advance on a sale, to individuals who have authenticated goods, or to those who purchased goods on Portion but never took physical possession of the object.
Portion’s accommodating technology and view of the industry enables any creator, regardless of media type, to partake in the growing industry of digital collectibles. Portion is helping facilitate the creation, auction, and exchange of these new forms of content through this new medium. With Portion, artists and collectors can irrefutably verify the authenticity of each object, store important documents (certificates of authenticity, title, ownership records, etc.), and track an object’s provenance.
Portion taps into the cultural phenomenon of “drops” set by the likes of Nike, Supreme, and others by offering limited quantities of highly sought-after goods. Portion partners with notable cultural figures and brands to curate select featured drops. These goods are selected from both existing partners of Portion as well as those within the curator’s network. Featured drops will include highly anticipated goods with a measure of gamification and rewards for collectors.
How many Portion (PRT) coins are in circulation?
Portion has a circulating supply of 476,965,462 PRT coins and a maximum supply of 1,500,000,000 PRT coins.
How is Portion Network secured?
Portion’s blockchain technology creates immutable records of authenticity, mitigating risk from fraud and counterfeits, in a legally compliant manner. Portion’s marketplace democratizes the centralized and decentralized worlds by using technology to eliminate the central authorities.
Furthermore, Portion intends to have contracts with each network partner to mitigate fraudulent goods and liability for all parties. Ultimately, this practice will help build trust and convenience for Portion’s user base while reducing overhead for the organization.
How do I buy Portion (PRT)?
The PRT token can be used for a wide range of uses, like staking and governance.
The following steps can easily purchase PRT tokens.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy PRT through your trading account.
Which Cryptocurrency Wallet Supports Portion (PRT)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Portion (PRT). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their PRT wallet because it offers a simple interactive interface, making it easy for people to navigate its system.