Nifty Token is a DeFi utility token used to create a reputation layer for NFT auctions, employing gamified staking and "farming" activities to crowdsource reputation data. The process uses economic incentives and rewards funded from 7.5% of the final payout of any auction which uses the NIFTY protocol. The reward is distributed to a pool of “endorsers” or “advocates” in proportion to each token holder's respective endorsement allocation amount, in NFTY tokens, to auctions on NFT exchanges that support the protocol.

Key features of Nifty Token:

• Stake. NFTY users can Stake their $NFTY to build their Reputation and Social Ranking, unlocking the option to Advocate for NFTs while gaining 13.579% APR in rewards and gain access to exclusive NFTs only available to long-term stakers
• Vote. NFTY users have influence. Social Rank carries voting power. Voting shapes NFTY’s governance
• Advocate. Promoting great art pays off. Use staked NFTY Token to ‘upvote’ NFTs that will yield the highest returns. After the NFT is sold, rewards in USDT are given to Advocates in proportion to the total NFTY they have allocated to the pool
• Reputation. Building a resumé in DeFi. Reputation is determined by how much and how long NFTY is staked.