Creaticles (CRE8) – MEXC M-Day Review

From 1st to 2nd December, MEXC global launched the trading round and MX round for Creaticles Token (CRE8) under M-day event.

Creaticles calls itself the “world’s first bespoke NFT platform”. (CRE8 – Trade it here)

What is Creaticles?

Project focuses on enabling people to request NFTs, which get created on-demand, thereby solving two problems simultaneously. On the one hand, NFT buyers don’t have many use cases for the NFTs they select, besides a rising price. On the other hand, NFT creators cannot express their creativity because there are low returns to their efforts. Creaticles wants to solve this by connecting potential buyers like companies, start-ups or collectors with talented creators.

Talking further, the Colony project has more than 20 software features. Colony supports sophisticated reputation-weighted voting system, token creation, a ‘lazy consensus’ governance system, and Coin Machine. Coin Machine is a mechanism that offers one of the fastest and easiest ways for a DAO to sell tokens.

What makes Creaticles Unique?

Creaticles is the first NFT marketplace that offers on-demand purchases of NFTs. It sees several potential use cases and target audiences:

  • Crypto start-ups can request NFTs that mark a particular milestone reached. This could be a testnet or mainnet launch, a partnership, or a particular user threshold the project surpassed.
  • Traditional companies and enterprises can enter the NFT space and pick out talented artists to do customized work.
  • Individuals or collectors that look for specific and unique designs can also celebrate individual achievements or special events like anniversaries, graduations, and others.
  • Lazy consensus. Colony gives users the ‘lazy consensus’ mechanism which means that they need to vote only if there is any actual disagreement.

Creaticles Token will offer three different modes of NFT rewards to provide maximum flexibility for both parties:

  • In the single winner mode, the entire prize goes to a single winner selected by the party requesting the NFTs. An unlimited number of entries from artists can be submitted.
  • In the faucet mode, an equal amount of tokens goes to each creator.
  • In the funnel mode, the requesting party sets tiers of rewards and selects a winner for each tier.

CRE8 Token

CRE8 will have a total supply of 1 billion tokens. CRE8 will be mined through active participation on the platform, like requesting or submitting NFTs. The website does not offer any information on the token distribution but details the following use cases for CRE8, which will be the native utility token of Creaticles.

  • CRE8 will be used as a means of payment on the Creaticles dApp
  • CRE8 holders will receive rewards in the form of buybacks and staking
  • The platform plans to manage reputation based on the mining of new CRTL
  • CRE8 will be used as a governance token for decisions impacting the future of Creaticles
  • CRE8 holders will be able to request and submit premium NFTs

Who Are the Founders of Creaticles?

Creaticles project was founded by Joe Zhou and Michael Cohen, two U.S.-based tech and blockchain entrepreneurs. Joe Zhou founded and funded several companies prior to Creaticles, such as Founder, a fintech start-up in gaming, and FirstBlood, a play-to-earn gaming platform. Michael Cohen has 11 years of experience with start-ups, making multiple exits in emerging industries like esports, digital entertainment, and gaming. The company was also listed as a participant of the Fall 2021 CoinList Seed Batch.

How Is the Creaticles Network Secured?

CRTL will be an ERC-20 token on Ethereum and Polygon. Creaticles first plans to deploy on these two blockchains but aims to be chain-agnostic in the long term.

Ethereum is one of the most popular blockchains and the go-to solution for many decentralized applications. Its proof-of-work consensus mechanism requires miners to mine new Ether and ensures that Ethereum is one of the safest blockchains in the crypto industry. A set of decentralized nodes validates transactions and secures the Ethereum blockchain.

Polygon is a layer-two scaling solution for Ethereum that allows for increased transaction throughput, meaning there are no gas wars on Polygon

MEXC CRE8 Listing Performance

Since listed on December 3 under Innovation Zone, the highest price reached 0.34USDT with a 0.095 USDT public sales price.

Total Tokens Allocated to MEXC M-day are 5,263,158 CRE8. According to the lucky draw rules for the trading round, there are 8000 winning tickets with 263 CRE8 each ticket. For the MX round, there are 10000 winning tickets with 263 CRE8 each ticket.

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