Sweet.io Review – Is This NFT Marketplace Legit?
For NFTs and cryptocurrencies in general to attain mainstream adoption, they need to have usefulness that goes beyond just buying and selling. In light of that, many platforms have been developed that simplify the use of NFTs in everyday life. In this article, we will discuss one of such platforms, Sweet.io.
WHAT IS SWEET.IO?
Sweet.io (or Sweet for short) is an NFT platform established in New York in 2016 focused on enabling NFTs to be used extensively in the commerce world. It is a blockchain-agnostic network, i.e. it doesn’t depend on one blockchain; it allows NFTs to be deployed across multiple blockchains with ease.
Because of the flexibility and ease of use that Sweet offers, it has sealed partnerships with some big deals in the commerce and entertainment world. Some of its partners include Animoca Brands, Dave & Busters, the New York Knicks, etc.
With Sweet.io, you can gift, share, integrate, auction, gamify, and drop NFTs anywhere, even on e-commerce stores. Imagine you run a store, and you are looking for a way to appreciate your top customers for their continuous patronage; you can simply design a unique NFT to that effect and send it to them using sweet.io. Now, that is special!
You can also get SUGAR tokens from the app by simply listening to music. These tokens, when accumulated to a certain point, can be used to pay for items on the platform like AirPods, Selfie ring light, Swiss army knife, etc. Talk about ‘play-to-earn’!
WHO IS BEHIND SWEET.IO?
The founder of Sweet.io is Tom Mizzone. According to his LinkedIn page, he has been the company’s CEO since its inception in June 2016. Before that, he was a vice president at Media Sentry for four years and the CEO of Exario networks for three years.
Other employees of Sweet.io include Tom Iacono, Ammar Kubba, Raymond Lew, among others. Most of them are accomplished professionals in the cryptocurrency and commerce world.
WHAT FEES DOES SWEET.IO CHARGE?
The Sweet.io platform is not explicit about the fees it charges. However, you can make direct purchases for NFTs on the platform using PayPal or your bank cards.
HOW DO SWEET NFTS WORKS?
One of the perks of the Sweet.io platform is that it is blockchain-agnostic. Therefore, the NFTs run on the Erc-721 standard, the Ethereum mainnet chain, and the Polygon blockchain. It also operates on the Tezos NFT standard and the SLP NFT standard. The NFTs are also compatible with many other blockchains, allowing for interoperability and utility on many platforms.
👉 So how exactly does Sweet.io work? It is an NFT collectibles platform that uses blockchain technology to create unique digital collectible that can be utilized across platforms. The collectibles from your favorite brands and consumer brands can be business-related, like a business card, a customer appreciation lapel, or a unique pin. It could even be a memorable photo or video or a graphics design. It could be basically anything that has a bit of significance.
Some of the collectibles are just that; digital collectible that have no other significance than to be stored. However, others have intrinsic values and can be used as access to unique services, like VIP access to concerts and some others. Others can also be modified, customized, or enhanced to the owner’s taste.
Each collectible on the Sweet platform is unique and immutable once created. The collectibles can be kept for sentimental reasons, displayed for others to see, or sold on the Sweet app. To sell an NFT, click on the NFT in the Sweet app and select ‘Trade on Sweet’. Your NFT will then be displayed for sale and will be on display for 24 hours, after which the deal will expire if there is no buyer.
How do you get an NFT on Sweet?
You can get the collectibles by going to a particular location( much like a Pokemon-style game), scanning a QR code, getting it through auctions, or just purchasing it outrightly. To be eligible to buy the NFTs at a fixed price or outrightly, you need to first register an account with the platform and verify your email address and mobile number. You also need to enable two-factor authentication. After winning an auction, you can make payments through crypto, credit or debit cards, and PayPal.
Sweet also has a wallet designed only for NFTs on the platform. You can’t store other cryptocurrencies on it. The wallet is associated with the Sweet app and is compatible with NFTs across multiple blockchains. Also, there are five rarity levels for NFTs on the Sweet platform ranging from Tier 1(common digital collectibles) to Tier 5( very rare one-of-a-kind digital collectibles).
⚡️ Sweet.io has also put a mechanism in place to ensure that the NFTs created on their platform are everlasting, regardless of what happens to the company itself. They do this by storing the NFTs on an Inter Planetary File System(IPFS) and on a Content Delivery Network. That is not all. The NFTs themselves can be copied by the owner and stored directly on the blockchain, independent of Sweet or any of its hosting systems. In this way, the longevity of the NFTs is assured.
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This article has shown that the Sweet.io platform is one-of-a-kind. It is a blockchain-agnostic platform that allows the concept of NFTs and cryptocurrencies to be introduced to the commerce and entertainment world. It has a well-designed app that runs on the Android and Apple Music operating systems. Thus, it makes it easier to buy and use NFTs.
It has a few drawbacks, though, with some social media users complaining that the fees on the platform are too high and that it is sometimes difficult to process withdrawals of NFTs created on the Sweet platform. There have also been reports that the items that can be bought with sugar tokens are difficult to actually cash out on. These are things to consider before deciding to go with the Sweet.io platform.
- It has a wallet designed only for NFTs on the platform
- You can make direct purchases for NFTs on the platform using PayPal or your bank cards
- You can gift, share, integrate, auction, gamify, and drop NFTs anywhere, even on e-commerce stores.
- It is not explicit about the fees it charges
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com