Some say the current enthusiasm around NFTs, marked by the explosion of art and an emerging marketplace, vibrant and turning millions of dollars in the past few months, may undergo the same market cycle that extinguished ICOs.
But beyond the FUD and claims of NFTs being a fad, beyond the speculative dynamics that currently pins this emerging market, the underpinning technology that makes it tick is here to stay.
The ability to own digital representations of physical assets or the knowledge to introduce digital scarcity—a feat only achieved in the past few months and being rapidly explored—could open infinite opportunities for future applications to shape processes.
Through NFTs, tokenization has been rejuvenated, and liquidity injected into traditional assets, highlighting the benefit of NFTs as a promising option.
Fonts Define NFT Artworks
In 2020, the emergence and popularity of NFTs provided a cushion, especially to members of the creative industry, by creating open and decentralized marketplaces allowing artists across the world to convert their digital artworks and create NFTs.
Looking closer, the building block of every multi-million artwork sold in any NFT marketplace has a font or typography. They especially carry weight, giving the piecework a personality and the artist a brand.
Fonts are critical in digital art because it creates a hierarchy and gives texts eternity. The ease of every artwork could easily be understood depending on the type of font an artist chooses.
Most importantly, buyers—or the reader of the artwork, would easily discern and distinguish an artist’s message depending on the size and type of font chosen.
Overly, every selected font can be consequential, directly impacting the feel and even the brand’s message.
That’s why any digital artist must get the font right.
Getting it right means explicitly relaying a message to the viewer, highlighting a brand, and building the correct hierarchy, personality, and feel that grabs the viewer’s attention.
Introducing the Font Community
For how heavy it is, the Font Community builds a base where artists can begin their journeys.
It is for designers, users, buyers, and even speculators—who are essential in that they help build a vibrant primary and secondary market.
The Font Community is launching an NFT-based decentralized font marketplace. All of their fonts encapsulate an element of DeFi that combines NFT compliant with the ERC-1155 standard, governed by a DAO.
Users can sift through their preferred fonts, categorized according to the most common Font types. Platform users can acquire their favorite Displays, Monospace, Serif, San Serif, and Handwriting fonts from the portal.
According to their whitepaper, the overarching objective of this project is to disrupt the font marketplace by launching a decentralized solution.
For good reasons.
Presently, centralized options are commandeered by parties who place their interests beyond those designers by controlling all aspects of the network by continuously and unfairly extracting profits from artists.
Benefits of the Font Community
The font community is launching a product set to benefit the designer and other stakeholders directly through diversity.
First off, the font community has more fonts than those offered by Google, Adobe, or any other centralized marketplace. Besides, by settling on the Font Community, artists get fair deals and control processes.
For instance, they will immediately take control of their creations from a transparent network, earn license fees when their fonts are used, can trade their fonts freely, transfer font ownership together with licenses, tokenize their fonts—suitable if they are a group of artists, and enjoy more financial services.
The Font Community, by integrating DeFi, can further boost the artist’s bottom line. Using their fonts, they can borrow funds and stake their fonts as collateral, earn interest by lending fonts, or even raise funds through what’s known as an Initial Font Offering (IFO).
On the other hand, brands can easily acquire fonts directly from artists without paperwork or a middleman. At the same time, end users can easily purchase fonts from artists using fiat or crypto.
Also, investors can contribute through IFOs in exchange for a portion of license fees, brand, and more, depending on the artist’s need.
What’s cool about the Font Community is how it is all set up. Creators can first mint fonts as NFTs, or upload them to create NFTs.
$FONT: A thread
You see them every single day. Movie posters, books, online, on the subway, in album art.
They've become so prevalent that they are one with everything. A mesh of characters and glyphs that dance on paper and exist in harmony with their surroundings.
1/8 pic.twitter.com/HtbuyI1b9N
— MR. NFTGEMZ (@mrnftgemz) April 6, 2021
Creating font NFTs is also ingeniously done to reduce the Gas cost burdens on end-users.
Font community incorporates a layer-2 EVM compatible chain–the Binance Smart Chain–, to create a unique ID and save costs before minting the NFTs in the Ethereum chain.
The Team
The project is the creation of:
GaneshMoorthy. R, the founder, with over ten years in branding, marketing, and advertising.
Adalarasu. D, the co-founder, has over ten years in mobile development.
What about the token?
Font Community (FONT) Tokenomics and Market Performance
First off, FONT is on Ethereum, useful as a utility, DeFi, and governance.
Here’s a snapshot of the functions of FONT:
A user needs to hold 1,000 FONT to submit a proposal and vote on changes.
Being a utility, all activities within the Font Community ecosystem is payable in FONT.
Most important for investors, FONT is deflationary. Therefore, it means the community will continuously burn a portion of FONT tokens from time to time.
The number of tokens burnt will depend on utility. As such, the more active Font Community is, the more burns there will be.
Besides burning, the project’s creators also plan to share a percentage of FONT to stakers and use a portion of their tokens to cover expenses.
In total, there will be 2 million FONT tokens:
- 50 percent will be distributed to platform users through Font Mining
- 20 percent went to the private sale
- 5 percent to Seed investors
- 5 percent to prime their liquidity upon listing on Uniswap
- Two percent for running their bounty program
- Four percent on marketing
- Four percent on development
- Four percent reserved for founders and team
- Six percent for future reserves
Upon listing on Uniswap, there will be 400k FONT in circulation. However, the team plans to distribute all tokens after six years.
Meanwhile, this is how FONT tokens will be distributed through Font Mining:
Font community investors and fans would begin reaping full benefits in Q3 2021 when:
- Stakeholders begin receiving split payments
- When DeFi is activated
- Dividend distribution for FONT staking begins
By the end of the year, Font Community creators plan to support fiat payments and enable font swaps functionality.
Nonetheless, the true potential of FONT drips from its performance in the last three months or so.
FONT was listed on Uniswap in late February 2021. This is where most FONT trading takes place.
At the time of writing in mid-May 2021, FONT is trading at $10, according to data streams from Coingecko.
At its peaks, FONT was trading at $38.
Shrewd traders picked the token when it was hovering at around $2.
In Q1 2021, FONT had an ROI of 7.6X.
FONT has a market cap of around $3.3 million at spot rates from a circulating supply of 332,432 FONT. Its FDV stands at about $20 million.
Etherscan data shows that there are 993 FONT token holders generating 9,429 transfers.
FONT Catalysts
- FONT has a market cap of just $3.3 million compared to a gigantic marketplace projected to reach $20 billion in six years.
- Presently, the Font community has no competition. First mover advantage always means big buck.
- For font designers, the four percent—instead of the 66 percent—fee is a significant relief that will guarantee profits, a massive drawer for more. The platform soon expects designers from Honda, Burger King, McLaren, Uber Eats, and more to adopt the portal.
We are Honored & Excited!🙏🔥
The brand new font from the designer of
➡️BurgerKing
➡️Honda
➡️Mclaren
➡️UberEats
➡️LandRover
➡️Sky
➡️PWC
➡️Phillips
➡️National TrustComing soon! 🚀
Exclusively at https://t.co/cNuEgPKnCT. pic.twitter.com/B2fQNKUJF1— Font Community (@FontCommunity) April 20, 2021
- Font Community has been endorsed by the founder of OpenSea—a leading NFTs marketplace– Alex Atallah and Font big wigs, including TOMO Fonts.
- The FONT presale completely sold out, pointing to investor demand and quality of the project.
- Team and advisors tokens are locked and vested.
- Over and above everything, Font Community is a working product, not an MVP. It works with an improved UX and more.
- The team has the required experience to take it to the next level. Besides, their IDs are KYC-verified.
- The project is transparent. In May 2021, they brought all their operations to Trello.
We are bringing all the tasks to Trello to improve transparency. We believe it will be an effective way to track the current progress, priorities, upcoming tasks, and also the pending ones.
Trello Board link: https://t.co/959XyAqiMG
Thank you!#FONT $FONT #FontCommunity pic.twitter.com/IHTDOszGuI
— Font Community (@FontCommunity) May 3, 2021
- The token trades on Uniswap and Ethereum–a network plagued by transaction fees. Availability in other chains like PancakeSwap can drastically pump its valuation.
- At $10 at spot rates and a 7.6X surge in Q1 2021, FONT’s potential was vividly highlighted.
- The decentralization of the cordoned Font markets dominated by a few giants is a massive benefit to NFT. Converting people’s handwriting to NFTs is an exciting feature that won’t fail to attract users.
Turn your handwriting into font NFT 🔥🖊🖱
The portion of the fees will be used to buy the $FONT from the market to burn.
Another portion of the fees will be shared for staking
More details: https://t.co/HDLElSZzUT pic.twitter.com/JsbVcy0kH1
— Font Community (@FontCommunity) May 13, 2021
- Font Community provides a critical service in NFT–an industry projected to command billions in the coming years.
- NFTs—especially artwork, are projected to be a global phenomenon. Leading auction houses like Christies are already on board, hinting at how undervalued FONT is.
- For value traders, FONT is a low supply token of just 2 million, half of which will be distributed in six years.
- FONT supply will continuously dwindle on increasing demand from Font Community due to continuous burning, a positive for holders—currently below 1,000.
- Font Community is also purely controlled by the community. Holders of FONT can make amends, say on burn rates and fees charged, influencing FONT scarcity and circulating supply.
- The incorporation of Layer-2 and EVM-compatible chain in BSC is a clever move to shield network users from the outrageously high GAS fees in Ethereum.
- Using Arweave as storage, user details and other Font-related information are secured and ensured to be private.
- FONT has DeFi features allowing creators to borrow funds, earn interests, or brands/users directly buy fonts from designers.
- In H2 2021, the project plans to support fiat payments and enable font swaps functionality, a move that will undoubtedly catalyze demand for FONT tokens.
- Their developers are actively working on further improving the portal. They recently activated Embeddable fonts enabling users to embed fonts in their websites/apps.