LGBTQ Member Launches Alternative Assets NFT Marketplace to Combat Rising Inflation
Inflation is a shadow that haunts all modern economies. Some countries may have it worse than others, but everyone is trying to escape it.
To that end, alternative assets are considered one of the best ways to fight inflation. This is what inspired a member of the LGBTQ community to launch HedgeUp (HDUP). The platform is an NFT marketplace that allows people to invest in alternative assets.
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A period of worldwide inflation
Key economic indicators show that there has been an increase in inflation since mid-2021. All over the world, the prices of essential goods, such as energy, food, housing, etc., have increased steadily, leading to a decline in the purchasing power of money.
According to analysts, this is the result of various factors. The biggest of these is the pandemic, which caused a lot of economic dislocation and forced central banks to change fiscal and monetary policy.
Another reason is the Russian invasion of Ukraine. The invasion has had a global effect on the prices of oil, natural gas, food and fertiliser.
Together, these factors have led to record high inflation in the last two years. In June 2022, for example, inflation in the United States reached 9.1%, the highest level recorded since 1981. Countries with weaker economies exacerbated by poor governance and policies have fared worse.
While central banks are looking for policies to slow the rate of inflation, innovative projects in the private sector are developing solutions to help individuals fight inflation on their own. One such project is HedgeUp (HDUP).
HedgeUp (HDUP) is an investment platform, according to the founder, the project aims to empower ordinary people against inflation by giving them investment opportunities in the alternative asset market.
Alternative assets as a hedge against inflation
Alternative assets such as gold, diamonds, jewelry and even wine have been used by people throughout history as a long-term way to store wealth. This is because they tend to hold their value longer. Therefore, they are not as exposed to inflation as fiat.
This makes them the ideal investment in a world ravaged by high inflation. Recognizing this, HedgeUp (HDUP)The founder decided to build a platform that makes it easier to invest in alternative assets.
HedgeUp (HDUP) will act as a marketplace for alternative assets such as jewelry, gold, watches, artwork and more. However, people will not buy and sell the assets directly. Instead, they will trade NFTs backed by these products.
HedgeUp (HDUP) will tokenize alternative assets into non-fungible tokens. The assets will be held in a secure and insured vault managed by the project’s team while the NFTs representing them will be made available to investors.
In accordance HedgeUp (HDUP)founder, this provides a level of convenience that opens up the market to people from all over the world. Someone in South Africa can invest in artwork created by an artist in Canada without ever coming into physical contact with the art or the artist. All they need to do is buy the corresponding NFT.
However, HedgeUp (HDUP) is still in development. To finance it, the project is running a pre-sale of the platform’s internal currency HDUP.
HedgeUp (HDUP) will be used as the primary medium of exchange on the trading platform. Holders will also enjoy certain benefits, such as exclusive discounts and first access to new products and services. It is available for purchase through the presale at $0.013 per token.
Find out more about the pre-sale HedgeUp (HDUP) via the links below:
