The Origin Protocol is a platform built on Ethereum that aims to bring Non-Fungible Tokens (NFTs) and Decentralized Finance (Defi) to everyone.
As a result of building out a decentralized e-commerce platform for several years, Origin refocused its platform on NFTs and their unique capabilities. NFT Launchpad was created by Origin to simplify NFT issuance and give creators more control. Record-breaking NFT drops have been hosted by Origin, including an album by 3LAU and a viral video for “Charlie Bit My Finger.”
As part of Defi, Origin has launched its own stablecoin, the Origin Dollar (OUSD). As opposed to being staked or locked up in a protocol, Origin intends to support users as they earn a yield from OUSD held in wallets.
How Does Origin Work?
There are two main components to the Origin platform: NFT Launchpad and Origin Dollar (OUSD).
Origin’s NFT Launchpad
The NFT asset class encompasses all types of goods, from digital or real-life goods to collectibles and experiences, according to Origin. A platform called NFT Launchpad was created by Origin to enable online shopping for all types of NFTs. Origin is using the NFT Launchpad to give digital creators and influencers greater control over branding, pricing models, content, and products that are not available on other NFT marketplaces.
NFT creators can sell their products through custom storefronts that feature unique audio or video content and sales models. The NFT Launchpad also enables NFT sales on a brand’s website. Origin differentiates itself from other platforms by allowing credit cards or debit cards to be used for purchases instead of just cryptocurrencies.
Origin Dollar (OUSD)
Origin Dollar (OUSD) marks the team’s entry into the Defi ecosystem. OUSD is an Ethereum-based stablecoin whose value is pegged to the U.S Dollar. OUSD is distinct from other stablecoins in that holders can earn a yield on their assets directly from their wallets without them having to constantly stake and unstake or lock their funds in liquidity pools. According to Origin, OUSD is always available for transactions and holders earn passive income from storing it in their wallets.