TangleSwap Genesis NFT

The Big Bang is coming.

Journey Log — Reference TS270322

It’s been almost a month since our previous announcement where we revealed the future of staking IOTA NFTs, and officially introduced our utility-driven Genesis NFT Collection, The Big Bang.

Our deep space satellites intercepted the signal above. Pilots and engineers are working around the clock to decrypt it in its entirety, and shall be showing final results over the next two weeks.

We understand there is a considerable amount of information to assimilate around real-utility, stakeable NFTs that are fully integrated on a DEX built on top of feeless, scalable & green IOTA — so today we are only bringing you the most important bits of info about our collection. Let’s get right to it!

What are Utility NFTs?

Non-Fungible Tokens (NFTs) are essentially records of ownership for unique digital or physical items.

Utility-driven NFTs typically build on substantial intrinsic value by providing token-gated perks, access, and opportunities that go beyond single airdrops or bare art appreciation.

TangleSwap’s Dual-Utility System

Our Genesis NFT collection has been crafted over half a year with great care to provide access to six different types of long-lasting, meaningful utilities.

We have decided to start strong and pioneer with not only one but two separate utilities per NFT, which are wholeheartedly centered around community-building and sensible economic rewards.

While utilities are deeply rooted at the heart of our collection, add on top of that a gorgeous face composed of vibrant 3D-animated aesthetics and fine attention to detail. We have been fortunate to onboard prominent 3D artist & animator Merlo, who also leveraged his extensive expertise in Ethereum NFT markets to advise the crew on short- vs long-term strategies to generate real value, always with the best interest of the IOTA ecosystem in mind.

Our team seriously can’t wait for the full art reveal.

The Big Bang: Shared Utility

Liquid NFT-Fi Staking

Let’s break that down into pieces.

As introduced in our previous blogpost, NFT Finance or NFT-Fi refers to the concept of leveraging your Non-Fungible Tokens to use just as you would do with any fungible token or cryptocurrency: buy, sell, swap, stake, lend, borrow… Simple as that!

Staking essentially means locking up your tokens into what’s usually called a Staking Pool — a term that in our opinion is confusing due to its resemblance with Liquidity Pools, we opt instead for ‘Staking Fields’ — to start passively generating a monetary yield, sometimes as part of a Proof of Stake (PoS) protocol but not necessarily.

Finally, Liquid highlights the unique feature of our Staking Fields to let users withdraw their funds or NFTs at any time with complete freedom. Instead, in order to further incentivize retention we will be implementing a novel, simple, nonrestrictive mechanism that — to the best of our knowledge — has never been done by previous DeFi protocols. To err on the side of caution, we would like to protect this intellectual property for now, and reveal the intricacies of such feature at a later date closer to Mainnet launch of our NFT Staking dApp.

Overall, if we piece these parts all together we get that our Genesis NFT holders will enjoy the following: non-fungible tokens that can be staked on TangleSwap to automatically yield passive rewards in VOID, while maintaining their ability to be freely withdrawn at any point in time!

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