Lifeform Token (LFT): Redefining Identity With NFT-Backed Avatars
In the busy tech world, you need a unique way to identify yourself. Whether you're performing tasks on Web 2.0 or transacting in web3 space, your digital identity is a significant part of you. However, due to the fast-paced evolution of technology, especially in web3, typical usernames and passwords are quickly becoming “inadequate.”
The sophisticated and innovative nature of blockchain technology, especially in the metaverse, calls for advanced authentication credentials.
Enter Lifeform, a web3 project pioneering the creation of a universal decentralized digital identity that lets you seamlessly engage with the digital realm in a smooth, efficient and secure way. Let’s learn more.
Key Takeaways:
Lifeform has created a platform where you can create a realistically humanlike NFT avatar of yourself and use it as a passport across web3 and Web 2.0 platforms.
The project also features Universal Domains that let you create a domain name with the .btc suffix, which gives you visibility in the web3 space.
Lifeform's native token, LFT, is available on Bybit. To celebrate the listing, Bybit is holding two events, with 600,000 LFT and 50,000 USDT up for grabs.
What Is Lifeform?
Lifeform is a decentralized digital identity solutions provider that aims to empower digital users with unique online identities, such as hyperrealistic 3D avatars and visual decentralized identities (DIDs), enabling them to securely and seamlessly engage with the digital realm.
After a successful seed funding round from Binance Labs in 2022, Lifeform has been creating innovations shaping the digital identity world, and is on a mission to onboard the next 1 billion users into crypto by integrating fragmented data on digital identity into a more relatable form.
Its flagship humanlike avatars have provided a unique and immersive way for both Web 2.0 and web3 users to identify themselves. Using a simple-to-use Virtual Human Editor, you can create and manage your digital identity and store it across blockchains as a non-fungible token (NFT).
Furthermore, Lifeform has created the Universal Domain, a decentralized user ecosystem centered around domain ownership. You can use this innovation to create a domain with a .btc suffix, which leverages the Bitcoin network to unlock a more secure and seamless way to manage digital identities across different blockchains.
At its core, Lifeform’s mission is threefold:
Create an advanced decentralized digital identity infrastructure.
Enhance cross-chain interoperability, transparency and convenience when managing digital assets.
Create meaningful connections in the web3 realm.
The LFT token powers the Lifeform ecosystem and is used for activities such as minting NFTs, unlocking accessories and staking.
Lifeform Key Products
In order to transform the creation and management of online digital identities, Lifeform has created the following products.
Avatar ID
Avatar ID by Lifeform is a type of Visual DID that lets you create a humanized avatar of yourself and use it across different decentralized applications (DApps) and social platforms. The unique thing about Lifeform’s avatars is their human-realistic nature: they closely resemble your natural self, and can also be customized to a character that you like in real life.
To create your Avatar ID, you can use the following tools.
UE5 Virtual Human Editor
Using this UE5-powered tool, you can create a hyper-realistic avatar, convert it into an NFT and share it across various platforms, including your social media accounts. Think of it as a way to create a 3D virtual version of yourself that acts as a passport in the web3 and Web 2.0 spaces.
Upon creating the avatar, you activate features, such as facial capture technology and motion capture, to synchronize your facial expressions.
Cartoon Editor
This mechanism lets you create a personalized cartoon version of yourself. In order to publicize this tool Lifeform held various events, such as the Hooked protocol free minting, which millions of participants used to generate personalized cartoon avatars.
Lifeform Universal Domain
Lifeform Universal Domain lets you create a blockchain-friendly domain name with a .btc suffix. Such a domain gives you visibility in the crowded world of web3, as well as true ownership over your domain name — which then translates into a more secure experience online.
Lifeform Universal Domain is the first platform offering multichain domain names with the .btc suffix. It supports various blockchains, such as Bitcoin, Ethereum, BNB Chain, Solana, Arbitrum and more. This enables .eth, .sol, .bnb and .arb holders to register a corresponding .btc domain name for free.
In late March 2024, Lifeform partnered with Polyhedra Network to offer a BTC domain SDK, further democratizing domain ownership through decentralized domains that can integrate multiple blockchain addresses — thanks to Polyhedra Network's interoperability.
Lifeform Market
Lifeform Market is a platform on which crypto enthusiasts can create/mint and trade blockchain collectibles, including NFTs and Avatar NFTs. In this marketplace, you can find items from both the larger Lifeform ecosystem and incubation projects on Lifeform, such as Lifeform Avatar, Lifeform Cartoon and the HALO Avatar.
Live-to-Earn System
The Live to Earn system is a project currently under development that will provide an avatar-based, gamified environment to incorporate your real-life behavior, offering a way to earn as you play and live.
Lifeform NFT
Lifeform has launched Lifeform Premium, a platform where Lifeform NFT holders can access exclusive perks. By being a part of Lifeform Premium, you can benefit from:
Better winning rates in IEOs
Airdrops from partner projects
Priority place to purchase limited edition NFTs
What Is the Lifeform Token (LFT)?
Previously known as Lifebound Token (LBT), Lifeform Token (LFT) is the native utility token for the Lifeform ecosystem. Designed to encourage innovation on the platform, some of the LFT’s uses are as follows:
Minting avatars (those who held LBT tokens were allowed free minting of limited 1,000 Life Avatar Poap NFTs which can then be used to mint avatars)
Staking to earn rewards for minting an avatar
Unlocking limited accessories on Lifeform
LFT runs on the BNB Smart Chain and has a maximum supply of 1 billion tokens.
Where to Buy the Lifeform Token (LFT)
You can buy LFT on Bybit’s Spot trading platform as a Spot pair (LFT/UDST). LFT can be traded through Bybit's Spot Grid Bots. To celebrate the LFT listing on the platform, Bybit is holding two events from May 14–28 2024, with 600,000 LFT and 50,000 USDT up for grabs.
Event 1 — Token Splash/Deposit: During this event, new users who successfully register with Bybit will have a chance to share in the 600,000 LFT prize pool. In order to qualify, you’ll first need to sign up with Bybit and complete Identity Verification Level 1. Next, accumulate a deposit of 700 LFT or deposit 100 USDT in your Bybit account and then purchase any amount of LFT as your first trade. Rewards are limited to the first 3,000 participants.
Event 2 — Trade to Earn: To share in the 50,000 USDT prize pool for this event, you only need to trade at least 500 USDT worth of LFT on Bybit Spot during the campaign period. Rewards are capped at 2,000 USDT per user.
Closing Thoughts
The convoluted web3 space makes managing identities across different blockchains cumbersome. Lifeform has created a truly decentralized user ecosystem for digital identities, making it a valuable blockchain network in the crypto space.
Complex blockchain technologies are developing as the web3 digital realm continues to evolve. Lifeform provides you the opportunity to create a unique and decentralized online identity that goes beyond the usual username and password. Furthermore, it’s taking digital identities a notch higher with human-realistic NFT avatars that can be used on both web3 platforms and in the established Web 2.0 world.
Finally, Lifeform’s Universal Domain provides the foundational infrastructure connecting BTC to multichain domain names, and will enable more users to enjoy secure and decentralized domain ownership. This will significantly contribute to Lifeform's ambition of onboarding 1 billion users into the web3 space.
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