ZUG, Switzerland — Flame Technologies AG, the Swiss company behind Sharesome, has acquired all assets of the Nafty ecosystem for an undisclosed sum.
“Flame Technologies and the Nafty team will together pursue their common vision of bringing social media and decentralized finance (DeFi) together,” said a rep.
The Nafty Web3 ecosystem includes a blockchain-based payment solutions API, an NFT marketplace, a content subscription platform and a crypto-based fanclub.
Flame Technologies aims to fully integrate the Nafty NFT marketplace into Sharesome by offering collectible avatars to their Sharesome user base. The team also plans to integrate Nafty’s content subscription platform into Sharesome’s existing Pro subscription.
According to the company, Sharesome has an existing Web3 layer in the form of Flame Token, a blockchain-based token compatible with the ERC-20 standard of the Ethereum blockchain. To be used on Sharesome, Flame Tokens must be exchanged into Flame Credits. Flame Credits are used as a value transfer mechanism on the platform, such as for tips and other digital services.
Flame Tech Founder and CEO Robert Knapp said the company’s strategy is to build the utility before the token is listed on an exchange.
“A token without a use case has no value,” Knapp said. “This is why we first created the utility on Sharesome and haven’t listed on exchanges. Although we feel that now would be the right time to do this.”
Flame Technologies will also announce an exchange program that will allow Nafty Token holders to exchange their tokens for Flame Tokens.
Georgi Dimitrov from Nafty International said, “I believe that joining Flame Technologies is the best thing that could have happened to Nafty. Sharesome has the necessary traffic to breathe life into Nafty’s platforms. The team of Flame Technologies has shown, time and again, that they care about their users and will do the best for them.”
Flame’s Knapp added, “I am super happy that Nafty joined the Flame Family. The acquisition fits 100% into our strategy of gradually adding more Web3 tech on top of Sharesome, our flagship product with almost 2M monthly users. We believe that Social Finance is the solution to a lot of problems that we aim to solve. We’re trying to bring social media to the adult industry, and crypto to social media. With Nafty’s Web3 tech, we just became faster.”
For more information, visit FlameToken.io.