Over the last years, the NFT space has been growing rapidly. However, most of the projects offer a very homogenous concept of minting and auctioning NFTs – they all give access to the traditional way of building up and selling art. Noticing all of these limitations Fragmint comes with the idea to provide a unique way of conceptualizing, minting, and auctioning NFTs through a combination of fragmented art and DAO structures.
After a successful private sale, the project marks an exciting step forward with a series of timed IDOs in the month of June.
On June 7th, $FRAG token successfully concluded its first public sale listing on BLOKPAD – the first Launchpad in the Metaverse. Next scheduled offerings this month will be with Moonstarter – June 15th, Binstarter – June 28th, Gamespad, Bullperks, Dodo and PAID Network. Initial DEX listing is planned for June 29th on Pancake Swap.
The team behind the project has been establishing key partnerships with Ferrum Network and the leading Ethereum scaling platform Polygon as well as auditing the smart contracts. At the same time, the engineers were focusing on generating more value for all participants – from sellers to buyers – and shared more exciting details around the $FRAG token.
The $FRAG token
Fragmint’s primary focus is to build independent communities and empower their creative use of decentralized mechanisms while also aiming to incentivize contribution in order to generate and distribute more value for all participants via $FRAG tokens.
$FRAG by itself opens the doors to voting and making decisions about the future of the project. It is the native utility token of the platform and has a special utility to drive the Fragmint economy. Initially, the token will not be required for bidding on NFTs, but owning it will let users take part in platform operations
By owning $FRAGs the owner also has the ability to form DAOs that empower participants to vote on questions such as selling a part of the art (a fragmint) on secondary markets, moving the NFT art, etc.
Additionally, $FRAG is a deflationary token which means that its supply reduces over time. Each vote costs a certain amount of $FRAGs. To keep the dictionary nature of the token half of the costs are burned and the other half goes to the “airdrop pool”.
The pool is used for rewarding the General Users or anybody else who bids on a fragminted NFT auction.
The Fragmint platform has a few categories of users based on the number of tokens owned – General Users, Power Users, and Super Power Users. Despite their devised bidding and voting rights, their differentiating status is not an obstacle for belonging to any DAO.
The tteam behind the project is looking forward to welcoming many participants in the coming weeks. Recently the platform opened its early adopters’ collection – Genesis NFT Collection – that will unleash a stream of premium benefits within the platform. A total of 1089 Genesis NFTs will be minted and 160 of them will be airdropped. You can now join the waitlist.
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