Digest 004 — INTRODUCING FISHFACTORY NFTs
Fishfactory Protocol shall be joining the NFT (Non Fungible Tokens) space in addition to it’s Utility and DeFi features for $XFP tokens.
The creation of Bitcoin introduced the concept of trustless, digital scarcity to money. Before it, the cost of digitally copying of something was next to nothing. With the advent of blockchain technology, programmable digital scarcity has become possible – letting us map the digital world to the real world.
Non-fungible tokens (NFTs), often referred to as crypto collectibles, expand this idea.
Unlike cryptocurrencies, where each token is equal, non-fungible tokens are unique and limited in quantity. NFTs are a key building block in a new, blockchain-powered digital economy. Numerous projects have experimented with NFTs in a variety of use cases, including gaming, digital identity, licensing, certificates, and fine art. What’s more, NFTs even allow for fractional ownership of high-value items. (Copied: Binance Academy)
WHAT IS NFT?
🐟 A Non-Fungible Token (NFT) is a type of digital token that represents a unique asset. These can either be entirely digital assets or tokenized versions of real-world assets. As NFTs are not interchangeable with each other, they function as proof of authenticity and ownership within the digital realm.
THEN, WHAT IS FISHFACTORY NFTs?
The Fishfactory NFT are collectibles which represents a unique type of digital art-work 🎭 sorrounding the protocol either as a redeemable tokens backed to $XFP or a tradable-genie art convertible to Fishfactory NFTs token ($FROE) at Fishfactory Protocol infastructure.
Fishfactory NFTs are of two (2) art types:
Type A: RedeemABLE NFTs
Type B: TradeABLE Genie NFTs
A. What are RedeemABLE NFTs:
These are digital-art collectibles minted with a backing supply of 20 Billion Fishfactory Protocol ($XFP) tokens, which are redeemable according to their nft product class and can be re-cycled.
NFT ART Class
FRY.NFT are redeemable collectibles with a backing supply of 1,000,000 $XFP. Only 1000 FRY.NFT can be minted.
FINGE.NFT are redeemable collectibles with a backing supply of 10,000,000 $XFP. Only 350 FINGE.NFT can be minted
JUVE.NFT are redeemable collectibles with a backing supply of 100,000,000 $XFP. Only 50 JUVE.NFT can be minted
MIDR.NFT are redeemable collectibles with a backing supply of 500,000,000 $XFP. Only 10 MIDR.NFT can be minted.
BQ.NFT are redeemable collectibles with a backing supply of 1,000,000,000 $XFP. Only 5 BQ.NFT can be minted.
B. TRADEABLE GENIE NFTs
These are digital art works which powers Fishfactory NFT Farm on Waves Duck and a backing of $FROE token against it’s genie wish. Each tradeable genie art has a wish number, which can be converted as follows:
👉 Genie Wish🧞♂️ x 0.2 $FROE🍳
Note: $FROE🍳 — Are catfish fry eggs (roe) tokens backing Fishfactory Protocol NFTs tradeable genie arts.
Where GW🧞 is Number of Genie Wish Color Code, found on Art background (3, 5, 7, 11, 13, 17, 19, 23). There are 8 GW color codes. Also each Genie Wish color code has 4 variant shades as follows: 0.2, 0.4, 0.6, 0.8 . We shall also mint in phases the SGW (Super Genie Wish Codes) as 10x GW, featured as: 30, 50, 70, 110, 130, 170, 190, 230
$FROE AssetID on Wavesplatform:
Creator: Fishfactory Protocol
Every Tradeable Genie NFT is burnt after conversion on Binance Smart chain or send to Dead Wallet. Fishfactory NFTs are dual chain digital arts minted over BSC Smart launchpads & convertible on Waves Protocol chain ⛓️ for trades.
WHAT WE DO WITH NFT FUNDS
The funds raised from minted NFTs are used in following directions:
👉 30% Buy back of $FROE tokens intermittently and volume.
👉 70% in development of $FROE GENIE NFTs Waves Duck 🦆 Farm & other miscellaneous. Holders of $FROE are distributed with 50% farm $EGGS proceed as loyalty rewards for every 1 $EGG formed on monthly basis.
WHO DETERMINES THE PRICE OF $FROE TOKEN
NFTs Collectors determines the value of $FROE tokens depending on their investments in minting (buying) Fishfactory Protocol NFTs.
WHERE & HOW TO BUY FISHFACTORY PROTOCOL NFTs
At launch of the Fishfactory NFTs, happening September 1st 2021, A few NFTs will be available over on a SIGN NFTs Launchpad.
HOW TO CONVERT ARTs-TYPE (A & B) NFTs COLLECTIBLES?
TYPE A: REDEEMABLE COLLECTIBLES
👉 All Type A NFTs Collectibles are backed to a fixed supply of 20,000,000,000 $XFP after launch of Fishfactory Protocol tokens in Q2, 2022 before farming season.
TYPE B: TRADEABLE-GENIE COLLECTIBLES
👉 All Type B NFTs Collectibles are convertible to $FROE (Fry eggs) NFT tokens, starting from September 14, 2021.
👉 Visit nfts.fishfactory.cc/convert-nft
Happy Reading. If you missed Waves Duck 🦆, It’s another opportunity here.