Mission Statement

Unlocking Capital Efficiency in the NFT Ecosystem

At BackBone Labs, our mission is clear: to revolutionize the NFT ecosystem by addressing capital inefficiencies and fostering community engagement through innovative solutions that deliver tangible value.

Capital Inefficiencies within the NFT eco-system

Contrary to our more traditional DeFi counterparts within the crypto ecosystem the NFT space and NFTFi are lagging behind when it comes to capital efficiency. Users that use NFT products such as marketplaces lose valuable yield and DeFi opportunities by holding idle capital in order to buy, sell and trade NFTs. This leads to a loss of liquidity and overall participation with NFT products as users look for more favourable experiences in other DeFi sectors

Increasing Efficiencies

Through the use of LSTs and auto LST deposits, the Necropolis Marketplace provides yield exposure to its users. Users are able to buy, sell, trade and bid on NFTs with LSTs, this approach allows the users to gain yield while participating in the NFT markets.

Bolstering Sustainability

Typically, marketplace fees, LST fees and other types of fees are extracted from the users and the ecosystem thus decreasing available liquidity and rewards. BackBone Labs' community-based approach changes this via the unique use of fee sharing with its users on almost every level. Necropolis fees are distributed to $SOUL token stakers. This fee redistribution provides a unique store of value within the NFT ecosystem and keeps liquidity and capital flowing and rewards users for participation.

The fee sharing also extends beyond the Necropolis Marketplace to the bASSET LSTs. The 10% performance fee taken by the GraveDigger is also shared with $SOUL stakers as well as NFT stakers and liquidity providers. This approach ensures sustainability and aligns incentives across the board for NFTFi participants.