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What Is Creaticles (CRE8)?

Creaticles calls itself the “world’s first bespoke NFT platform.” It 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.

The platform will include several features, such as:

• Contest modes, which work similarly to bounties. Buyers set a price for requests that NFT creators can submit their work to.
• A commission mode, where buyers request NFTs from a specific creator(s).
• A community mode, where buyers offer an equal allocation of a prize pool for any participant in their NFT contests.

In doing so, Creaticles wants to expand the use cases of NFTs and make them driven by practical demand and based on applicable value propositions.

Who Are the Founders of Creaticles?

Creaticles was founded by Jonathan Chen and Trevor Keith, and supported by a core team of crypto and NFT enthusiasts and veterans including Diderik van der Graaf, James Parker, and Dylan O'Farrell.

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.

Creaticles 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 funnel mode, the requesting party sets tiers of rewards and selects a winner for each tier.
• In the faucet mode, an equal amount of tokens goes to each creator.

Creaticles will also feature a community treasury, where unrewarded tokens will be redistributed back to the token holders.

Related Pages:

Check out Rarible (RARI) —one of the most popular NFT marketplaces.

Check out Kalao (KLO) — another NFT marketplace.

Learn how NFTs work in our guide to non-fungible tokens.

Get the latest crypto news and latest trading insights with the CoinMarketCap blog.

How Many Creaticles (CRE8) Coins Are There in Circulation?

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 CRE8.
• 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.

How Is the Creaticles Network Secured?

CRE8 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.

When Will Creaticles (CRE8) Trading Begin?

Creaticles is still in testnet and has not specified a date when CRE8 will be launched.