Locker token announced that it will be launching Locker D-App, a white label solution for pro teams to easily onboard crypto on a corporate level.
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LOCKER Token: Where Sports and Cryptocurrency Converge
Sports and Cryptocurrency are converging at a fast pace, and there’s never been a better time to learn about it and get involved. Investors and fans can mix with teams and players on a different level through the $LOCKER TOKEN.
The world of crypto, blockchain, NFTs, wallets, and $LOCKER Token—can be pretty confusing to most people. However, most are interested in learning exactly what it’s all about and how it all works. This article will explain the basics and answer typical questions readers have and more.
What Is LOCKER Token and the $LOCKER D-App?
LOCKER Token and the $Locker D-APP is a sports-themed digital community where players and teams can have easy access to crypto without having to undergo any internal developments. For the purpose of trading, marketplace sales, payroll and much more, LOCKER App will offer a one-stop shop that can be used globally by players, teams, and investors who can now access the power of crypto.
Funds can be sent without limits worldwide, and fees are minimal. The LOCKER wallet will also act like a high-interest savings account. A person holding money in the app can gain up to 15% liquidity in yearly appreciation by temporarily lending funds to 3rd party yield farming protocols.
Athletes will have the option to take a game clip, celebration video or photo and upload it onto the LOCKER NFT Marketplace via the mobile App, to then be sold as an NFT that the team or player instantly owns the rights to.
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What’s an NFT?
An NFT is a non-fungible token that stores information on the blockchain. There are many applications for NFTs, one of them being authenticating, storing and transferring information of media files like photos or videos. The NFT phenomenon really took off in 2021, noting sales like Christie’s auction house which sold a compilation of digital artwork for just under $70 million or a LeBron James slam dunk video that sold for $200,000.
Non-Fungible VS Fungible
A non-fungible token is completely unique and not interchangeable. While tokens like LOCKER Token, Bitcoin, and Ethereum are fungible. They can be exchanged or replaced with another token of the same value. Think of fungible tokens like a dollar bill with a different value depending on what country you’re spending it in or what the stock market says.
What’s a Blockchain?
A blockchain is a shared unchangeable ledger that facilitates, records, and tracks transactions within a network. It can be tangible or non-tangible assets. It cuts costs, and because the record of the exchange cannot be altered, it reduces the risks of digital transactions.
What Is DeFi and Why It’s Important?
DeFi means decentralized finance in the crypto world. You’re probably wondering why it’s important? An easy way to think about it is when banks are decentralized, they have more freedom. It’s the same with a crypto blockchain. By having a DeFi or a decentralized blockchain in the LOCKER D-App, users have more freedom. Basically, users don’t need to go through a middle man.
Another way to look at it is with cryptocurrencies and apps other than LOCKER Token; users need to facilitate the purchase on a centralized blockchain which requires a third party like MetaMask or Coinbase. This brings on fees that a decentralized blockchain doesn’t add.
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