UMI Digital: Stacking with NTFs and Yield Farming in one place

Umi is known for being blockchain agnostic, offering a number of other cross-chain services to its users. These include, but are not limited to, an NFT marketplace, an Airdrops NFT tool, and a coin minting service.

The project is building the next generation of NFT and blockchain games in a 3-D virtual environment that will merge virtual life with real life and create endless new playgrounds for everyone (metaverse).

What does Umi Digital propose?

To understand UMI and its purpose, you must first understand what NFTs are, in a nutshell, non-fungible tokens (NFT) are unique and non-interchangeable data units that are stored in the blockchain. Its uses are many: they can be used to represent media such as photos, videos, audio or complex financial instruments and performance generators.

Behind all the work done by Umi Digital, is the love for the arts. Her goal is to merge art with finance by creating a platform for artists and crypto enthusiasts to mint, trade, and launch NFT over the air.

Umi Digital will be an online custom art gallery and art collection where anyone can purchase digital art represented on blockchain in the form of NFT. Then, it will be possible to convert these NFTs into physical artistic elements, either objects or paintings, which will then be sent directly to your door.

Umi combines the best of DeFiYield Farming with NFTs (staking); all built on smart contracts that are fair, public, and open source. The next stop in your evolution is the Umiverse; a modern 3D world and digital art gallery that will revolutionize the way you interact with NFTs, available this month on the testnet.

Through the magic of computer programs called smart contracts it is possible to stake NFT and other tokens to obtain turbocharged Yield Farming rewards in an innovative process known as NFT Farming.

Digital art like you’ve never seen it before

Umi uses the blockchain to eliminate intermediaries, automate transactions and create new markets that merge NFT with traditional gaming and finance.

Umi is building blockchain applications on the Sora (XOR), Polkadot (DOT) and Ethereum (ETH), Binance Smart Chain (BNB) and Polygon (MATIC) networks with a particular focus on the development of Non-fungible Tokens (NFT) and their use in digital art and finance.

By coining NFTs of hand-drawn real-world art and combining them with intrist crypto value, the platform’s goal is to bring NFT to the masses, regardless of borders. Umi Digital is a project that does not marry any blockchain and therefore is 100% independent, and combines DeFi with NFT in a modern digital art gallery experience.

All the code used by Umi is open source and is available for review on its Github page. The project is open to collaborators or any interested party to validate the source code, if they wish.

Select the blockchain that you like the most

Umi allows you to choose the blockchain that the NFTs will use. This opens up a world of possibilities to create NFTs and play on the chain that best suits your needs. The NFT minting in Sora is clean, carbon friendly, and consumes less power by many factors than Ethereum.

Currently the project is moving from Ethereum to Binance Smart Chain, due to high fees on Ethereum that limit access to a much wider market, blocking users with fewer resources from participating in farming.

Hence, they will have a new NFT farm launched on the Binance Smart Chain.

Umi’s first NFT farm has just ended, in this one the users stake NFT and LP tokens to obtain rewards, which they already received. This farm was based on the Ethereum blockchain and lasted around 25 days. It is estimated that a total of 4.5 million USD and 118 NFT was wagered.

Tokenomics

UMI is the utility and governance token of the Umi Digital Metaverse. It facilitates chain governance mechanisms, such as proposing referendums, voting, etc. o incentivize artists and empower the creation of unique performance-generating NFTs.

Token Symbol: $ UMI
Token type: ERC20
Contract: 0x61107a409fffe1965126aa456af679719695c69c
Maximum total supply: 33,000,000,000

The function of $ UMI is to be the token of Umi.digital. It is used to pay for services or the purchase of digital content in the Umi Digital ecosystem. Equally important, you can stake on farming rare and collectible NFTs in the near future. It is possible to collect them to keep or sell them to others on the free market.

Staking

Users can do staking with the $ UMI token for rewards via https://umi.finance/. It is possible to stake with $UMI tokens, liquidity pool tokens and NFT.

Each NFT has its own unique properties and magical powers. Tokens and multiple NFTs can be wagered together to get turbocharged APY that generates power-boosting results.

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