LAS VEGAS, Nov. 9, 2021 /PRNewswire/ — Each of the Strange Turtles in District99 NFTs is the result of a randomly assembled collection of 250 hand-drawn traits in what is set to be the most innovative NFT project yet. With a private sale event that starts on November 15th, 2021, at 09:00 AM EST, and a public sale the day after.
How the Project Works
Part of the NFTs in the project are already minted for the private sale while a portion remains to be minted on an ongoing basis. The membership NFTs, which are made into 3D images, also offer holders access to benefits in the 99Distrcit NFT.DAO, which will be formed to direct and determine the future of the entire project.
Apart from the ownership of NFTs, 99Distrcit NFT.DAO also comes with a governance token called $DST that grants voting rights to members in the 99Ditstict NFT.DAO. In addition to the comradery that will glue the project’s members together. NFT holders will be able to use existing NFTs to mint new special derivative NFTs that can be sold on secondary markets.
What are NFT derivatives?
Just as derivatives in traditional finance are designed based on the verified value of an underlying asset.
99District NFT.DAO is pioneering an innovation that will realize a practical implementation of derivatives in the NFT space.
An NFT, in this case, can be used as the underlying asset to create a new NFT where an ERC-721 compatible smart contract is used to verify that the user looking to mint a new NFT derivative is indeed the owner of the original NFT.
99District NFT.DAO and other Perks
The 99District’s membership will guarantee owners access to the presale of their NFT, and the membership of their NFT.DAO community. The DAO will be used to govern the future trajectory of the project, and members will use the platform’s $DST token to cast their votes on various proposals.
The 99District Metaverse
NFTs and the metaverse make a perfect match as NFTs bring the same aspects of physical ownership, rarity, and value to a digital metaverse world. While cryptocurrencies enable a decentralized finance infrastructure onto the metaverse, NFTs are the digital key to the metaverse as they translate the uniqueness of physical items into a digital format in the metaverse.
Learn more at: https://www.stid99.io
SOURCE Strange Turtles