The REDNFT marketplace will rely on the native utility token, Redline coin, for all transactions. There is a maximum supply of 3 billion Redline tokens that will be distributed as follows:
25 million Redline coins will be purchased through a public sale every quarter. This process creates “tokenomics,” which forms the foundation for maintaining liquidity in the Redline marketplace. It also provides continuation assurance for at least 23 years after REDNFT‘s launch in 2023.
3% of the Redline coin supply is set aside for airdrops, affiliate bonuses, and other rewards to incentivize people to use REDNFT Marketplace and help it grow. In addition, 1% of coins are reserved for private sale to early investors, 1% goes to the team, 1% to advisors, and 15% to founders.
REDNFT allows users to earn coins by participating in the NFT marketplace through selling, buying, or subscribing to services.
Aside from Redline coins’ inherent value, which can be exchanged for real money via USD or other pairs on REDFi (a service provided by the Redline Blockchain), Redline coin also serves as a facilitator to mint NFTs on Polygon (Matic Network) in the REDNFT marketplace. Therefore, one must have Polygon/Matic tokens in their wallet to make transactions on a polygon network. In addition, Redline Coin holders can transact on the REDNFT Marketplace. For example, they will earn RLC for their content sold in the marketplace and earn royalties through smart-contract distribution.