Fair.xyz, an end-to-end, no code NFT launch platform is rolling out a ground-breaking little bit of NFT technology, in collaboration with OpenSea, that theyve dubbed – The Minter Token. The brand new token allows collectors to cryptographically prove they minted a particular NFT, even though they will have since sold it, both providing them with credit for helping build the city and also permitting them to partake in token-gated community events. The launch comes soon after Fair.xyz announced its $4.5M funding round and reached a lot more than 50,000 people on the waitlist.
THE ISSUE : There is absolutely no clear and easy solution to demonstrate minted an NFT.
Today, with enough money, anyone can simply agree with the most iconic, desirable and, by proxy, expensive NFT collections (Bored Ape Yacht Club, Crypto Punks, Women of the planet etc). However, before their hyper-notoriety, most well-known NFT collections had become with far smaller price-tags and entirely anonymous cultural status.
For instance, in 2017, once the then unknown Crypto Punks collection first launched, each punk was absolve to mint and would only set you back gas-fees. Today, youd need to part with at the very least $143,000 to get the least expensive currently on the market.
So for all those NFT collectors who minted an assortment prior to the hype, prior to the cult status, prior to the price tag; once the collection was purely concerning the art, or the city, or supporting the artist – how could they easily persuade all of those other Web3 community these were there first?
And additional more, once youve sold your NFT, what can you then have that ties you back again to that community? Even though it’s likely you have helped built it from what it really is today?
THE ANSWER : Fair.xyz and OpenSea create the Minter Token
Forged by the team at Fair.xyz making use of their priority blockchain technology, during close collaboration with the knowledge and pedigree that originates from OpenSea, theyve built The Minter Token – an initial of its kind Soul-Bound Token, that cryptographically proves a wallet owner minted an NFT, even though the NFT has long since been sold or transferred.
Each Minter Token is generated automatically, free of charge (ex gas fees). Each token will combine both a smart-contract and 3D generative artwork, displaying the NFT that was minted.
As each Minter Token is really a Soul Bound Token (SBT) meaning that once minted, it cant be transferred, sold or exchanged – the token will stay forever in the users wallet to be undisputed proof they were the initial minter of this NFT.
And as a result of this un-tradable nature of Minter Tokens, this means this NFT class is less concerning the flipping, the ROI or profits – its more about certification, the nod of the top to the innovators, the city builders and the super fans which were there first. Isaac Kamlish, Co-Founder of Fair.xyz explains,
We realize every NFT platform says this, but we truly are about community first. Thats why we felt strongly that to determine our values as an organization and introduce ourselves to the Web3 community, we wished to build something for the whole Web3 community.
Additionally, Minter Tokens may also help Creators create other gated experiences and rewards because of their community members that no more own their NFT, but nonetheless desire to be section of that community. It unlocks a complete new group of experiences and utility for creators to leverage and give-back with their community.
How exactly to claim your Minter Token.
Minting your personal Minter Token is incredibly easy and can take significantly less than a minute to accomplish. Simply check out minter.fair.xyz, connect your Ethereum based wallet, and Fair.xyz will automatically display all of the NFTs youve ever minted. Once selected, Fair.xyz will create the 3D rendered artwork of one’s NFT, and invite one to mint it as a 1-of-1 little bit of artwork on the purpose-built smart contract. Thats it!
The near future : Every newly minted NFT will receive a Minter Token
The Minter Token could have the potential to end up being the next evolution of NFT culture, and therefore to any extent further, anyone who mints an NFT can not only obtain the NFT itself, however the Minter Token also, a certificate of proof to state that you’re a genuine minter. So even though youve bagged yourself another Bored Ape and the rocketing floor is too tempting to resist the sale – youll will have the Minter Token as your community flex.
OpenSea hopes that the Minter Token involves a pivotal step of progress towards increasing the utility of NFT technology, to an ever-growing audience. At this time, the Minter Token will interest the native NFT community, but down the road the Minter Token may be the proof showing past ownership of a residence, a physical fine art or shares in an organization.
And it’ll be established companies like OpenSea, collaborating with next generation innovative start ups like Fair.xyz, who’ll herald in the seamless and robust infrastructure for the Web3 evolution to accelerate.
Claim your personal Minter Token at https://minter.fair.xyz/
Fair.xyz was founded in 2022 to generate better and fairer NFT launches. Developed by engineers from Meta and Goldman Sachs, the companys first project was helping the Ukrainian Government launch an NFT collection to improve funds for the war. The companys no-code, gas-war free platform has already been helping creators launch their collections. The business is backed by leading web3 and tech investors including Eden Block, OpenSea, NFX, First Minute Capital, among others. Find out more at Fair.xyz.
OpenSea may be the worlds leading peer-to-peer marketplace for NFTs. Were on a mission to greatly help the worlds creators, collectors and collaborators own and shape their relationships directly. Were building the worlds most trusted and inclusive NFT marketplace with the very best selection making minting, purchasing and selling NFTs frictionless and friendly, and offering unmatched selection and multi-chain choices for creators and collectors of most kinds. Headquartered in NY, the OpenSea leadership team originates from Google, Palantir, Lyft, Uber, Stanford and Berkeley. Investors add a16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital.
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