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October Spotlight Article

· 5 min read
Cardano Foundation

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For the October edition of the Spotlight article, we interviewed Anthony, the CFO of Tokhun.

Hey Anthony! Happy to connect today and learn more about the Tokhun project! Can you tell us more about the project and what is the problem that you were addressing?

Tokhun is a smart contract-driven NFT platform built on the Cardano blockchain. When creating Tokhun, we wanted to provide CNFT artists with a space to create, display, and sell their artwork.

What are the most important things about Tokhun?

Our community. The ability to provide a foundation to our members, enabling them to establish their own line of work within Cardano. We like to consider ourselves more of an onboarding tool into Cardano for artists and businesses alike, not just an NFT marketplace.

Going forward, how will Tokhun make an impact in the crypto space or on the world?

Continual improvement is the key. We hope that Tokhun will be used as a tool to onboard new users and businesses into Cardano. Through UI/UX development Tokhun strives to provide an interactive and fun experience for the user. We believe a tool like Tokhun has the potential to transform the way individuals and businesses will interact with the Cardano blockchain.

Now, what are your accomplishments so far, and what are you most proud of?

We are proud of the team; this is a hard-working group. We all love what we do, and it shows. A wise man once told me, it is not considered work if you love what you do. I believe this is genuinely relatable.

Our most significant milestone so far would be smart contracts. We are finally able to say it! After many months of development, we have embedded smart contracts into Tokhun. We will be launching SCs on Tokhun main net Wednesday, 10/27. It is still limited in terms of functionality, but the Tokhun team is working hard to add more features ASAP.

Why should people choose to use Tokhun? What are the advantages?

Tokhun is designed for the user. Therefore, we try to create an enriched environment where even novice users can navigate and immerse themselves in the world of CNFTs.

With recent updates to the site Buy Now, orders are processed instantly. Before smart contracts, processing time was around 15 minutes or less. Other platforms can take up to 24 hours, and there is always the risk that the buyer may never receive the NFT. This unfortunate situation is rectified on the Tokhun platform, and buyers will always receive the NFT they purchase.

What is the future of Tokhun? For example, what new things to come, and what will it mean for the overall project?

We currently have a few projects underway that we are pretty excited about.

  • Our new Tokhun platform utility tokens, known as TOKHUNZ. That's a whole lot of tokens. We tried to keep it simple.

  • The team has just spun up our first stake pool. Users can stake their Ada and receive TOKHUNZ (Tokhuns native currency) along with their Ada rewards. In addition, we will accept TOKHUNZ to mint and buy NFTs on the platform. Users will also be able to stake TOKHUNZ by providing a trading pair and staking the assets to a liquidity pool through one of our DEX partners.

  • The team has started a community outreach. We want to engage with our users and hear what they have to say. Some of Tokhun’s best features were requests of our users, so we take every customer recommendation into serious consideration. Join us on Twitter Spaces every Friday at 9 am EST. Where we give out weekly status updates and interact with the community.

  • We are diving into the commercial side of NFTs, working with a few luxury goods manufacturers to provide NFT certificates of authenticity, mitigating the risk of counterfeits.

  • Implementation of NFT auctions: Before introducing auctions to the site, the only way to purchase an NFT was with the Buy It Now feature. Tokhun has just released our auction feature, allowing the market to determine an NFTs value while allowing the seller to set a reserve price, bid increments, duration, along with many other variables.

  • NFT bluebook: We are taking past data from various policy IDs and past sales to generate an appraisal tool that will help users assess the value of their NFT.

  • Tokhun’s Virtual gallery: We are working on a virtual gallery that will allow users to display their artwork in an interactive virtual gallery. The users will have the ability to invite guests, and host live virtual exhibits and auctions.

Tell us about your team. Who are the people behind Tokhun?

  • Latheesan is our CTO and founder of Tokhun. He deals with the internal development of the site and technical relations.
  • Valentin is our CEO. He started Tokhun with Lath. He deals with the UI/UX & high-level overview.
  • Adam is our Chief Engineer and technical consultant.
  • I (Anthony) am the CFO and deal with business relations and partnerships.
  • Chris is the head of PR.
  • Siddik customer support and backend dev.
  • Kyle, our SPO (stake pool operator)

Click here to learn more about the team.

Which partnerships have you engaged so far, and which ones are the most impactful?

Tokhun is still in its infancy, so we have not established many partnerships just yet. However, we have a few in the pipeline that we are excited to announce when the deals are closed and the timing is right.

Thank you for your time! Do you have anything else to add?

Whether you are an artist, new to Cardano NFTs, or an expert collector, we invite you to come check out

We’re going for #1