Flare Finance is pleased to announce the beginning of our journey into the wonderful world of NFT’s. We would like to commemorate this moment with the launch of our Genesis NFTs and the first new module that is to come. The Loyalists’ NFT Collection will be a collection of hand-curated art pieces from in-house and contracted NFT artists provided to the holders of the subscription NFT offered in the collection, The Delorian NFT.
The Delorian NFT will begin at a supply of 7,777. At 12:00PM CET the team will burn 10% of the remaining available supply for sale. This means the Delorian NFT will become more scarce as the sale goes on. Each NFT will go for 0.1 ETH (plus any gas needed to complete the transaction) and will be available to trade on OpenSea and Rarible once purchased from the buy page on Rarible.
The Delorian NFT offers many benefits to its holders relative to the new FlareDrops module. Initially serving as a subscription token, the Delorian NFT will also offer a number of great benefits including:
- Discounts across the new module
- Free Bonus NFT Drops that can be used and traded within the module
- Access to private NFT sales offered by exclusive artists on the new module
- Stakable on the new module to access various yield opportunities
The New Module
We are pleased to introduce…FlareDrop!
FlareDrop is the 7th module for the Flare Finance ecosystem. Developed to offer an in-house NFT solution. FlareDrop will allow users of Flare Finance to trade and participate in auctions for various NFT’s hand curated from artists by the Foundation themselves. Additionally, users can trade various NFT’s placed on the market by holders of the Delorian NFT, making the Delorian NFT a form of gatekeeper for upcoming artists hoping to see their artistic works hosted on the platform. Holders of the Delorian NFT who receive NFT’s from up and coming artists can then choose to sell the NFT on the market. This whitelists the NFT collection and opens the market to allow trading for other NFT’s in that specific collection.
FlareDrop offers both single-item and multi-item collections in the form of “HotDrops” (single item) and “MintDrops” (multi item). This means selected artists can either prepare their collection to be minted and distributed to each purchaser, or prepare their item for public auction. HotDrops are single item drops that can be auctioned on for a set amount of time permitted by both the artist and the Foundation. MintDrops are multi item drops that can be traded on the open market once purchased and minted.
An auction will begin for a HotDrop Item once live. Holders can bid with any supported currencies and if selected as the highest bidder when bidding closes, the winner can then decide to either mint and remove their NFT, or prepare it for fractionalized trading.
More on the FlareDrop module will be available in the upcoming documentation release for main network Flare Finance.