Metis
sponsored

The craze for Non-Fungible Tokens (NFT) has engulfed the blockchain space as more people move towards this unique sector. The ability to sell works of art and tokenize real-life assets has ensured that the NFT sector has grown immensely, with record sales of NFTs witnessed in recent weeks.

However, to this point the NFTs released have been for personal gain or issued by large companies and organizations. Metis, a blockchain project focused on developing Decentralized Autonomous Companies (DACs), plans to introduce a new concept with the launch of the first ever community-minted NFT, named ‘’Rebuilding The Tower of Babel’’.

First community-minted NFT

The ‘’Rebuilding the Tower Babel’’ NFT will bring together a community of incentivized contributors. NFT participants will take part in five major phases: Reserve Airdrop, Claim Tribe NFT, Community NFT minting, Auction, and Rewards.

Community members that participate in the airdrop phase can unveil a mystery box displaying three cards. Each card has a mining power reward attached to it. The mining power represents the rate at which users can mine Metis Tokens within the incentivized pool that will launch when the community NFT project is finished. The vast majority of rewards will offer 1x mining power, while a few lucky participants will receive 3x mining power.

Apart from the reward cards on offer, participants will also receive an option to create a Tribe on the Metis blockchain and receive Metis tokens via airdrops as an incentive. The Tribes are an important aspect of the Metis NFT ecosystem, and a way to increase mining power for the incentivized pool.

Participants can refer friends and other members to increase the Tribe’s Trust with the referrers receiving Metis Tokens as incentives. Furthermore, the higher a Tribe’s Trust, the stronger the mining power. Each Tribe can hold a maximum of 15 members, thus creating a fair and transparent system for all participants.

The airdrop phase will last for five days. Following this phase, the community NFT-minting project will mint the main NFT artwork called ‘’Rebuilding the Tower of Babel’’. The artwork will consist of 256 puzzle pieces, each representing a different Tribe. Each member of a Tribe can claim the NFT piece representing that specific Tribe. As more pieces are claimed, the artwork will be built up until the artwork is fully unveiled.

Once the artwork is unveiled, information regarding Tribes and their members will be minted into the final artwork NFT. Since the NFT is built on the blockchain, it will depict the contributions and information of community members, immutably and forever.

Once the ‘’Rebuilding the Tower of Babel’’ NFT is completed, it will be auctioned on the NFT marketplace OpenSea, with 70% of the proceeds shared among contributors and the artist (StarCloud AI) receiving the remaining 30%.

Interested contributors can sign up to form their Tribes at http://Tribe.MetisDao.org.

Major Milestone for Metis

This is a significant development for Metis, as it aims to establish a larger community-oriented NFT platform that will provide incentives to all participants. The ‘’Rebuilding the Tower of Babel’’ project will be a significant event that will showcase the versatility of NFTs within the Metis ecosystem and encourage community participation in NFT initiatives.

Elena Sinelnikova, Metis CEO and co-founder, believes the project will show the power of communities in building NFTs. “We may speak different languages and come from different cultures, but people around the world can achieve amazing things through decentralized collaborations. We’re excited to watch the rebuilding of the Tower of Babel and show just how much power communities can have when they band together.â€

Metis is a blockchain platform that is building a user-friendly, scalable, and affordable Layer 2 framework for applications and businesses to migrate from Web 2.0 to Web 3.0. The protocol supports a wide range of applications, including decentralized exchange trading, yield farming, and lending via dApps that provide fast, low-cost payments.

Metis makes it easy for developers and creators to build applications, communities, and Decentralized Autonomous Companies (DACs) via pre-set tools that are user-friendly, without the high costs and limitations of the Ethereum network. To learn more about Metis, visit https://metisdao.org/. To explore the company’s demo app on its Layer 2 alpha testnet, visit https://Alphatest.MetisDAO.org.


Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Metis: First Ever Community-Minted NFT Attracts Buyers With an Early Bid of 7 ETH

press release PRESS RELEASE. The first ever community-minted NFT launched at OpenSea this week, attracting a bid of 7 ETH for this historic event and giving 256 lucky users the opportunity to share the proceeds of the NFT auction with the artist. That large bid is the latest stage of a highly popular campaign, one […]

Xem chi tiết: Metis: First Ever Community-Minted NFT Attracts Buyers With an Early Bid of 7 ETH

Concordium Debuts its Business-Oriented Blockchain Mainnet

After years of development, Concordium has unveiled its permissionless blockchain and MVP that is designed to meet the needs of enterprises by delivering transparency and governance, all with an orientation towards protecting user privacy. Identity-Centric Network to Promote Broader Business Adoption Although blockchain’s novel characteristics are not in dispute, corporate adoption of distributed ledger technology […]

Xem chi tiết: Concordium Debuts its Business-Oriented Blockchain Mainnet

Doge in Brooklyn: A Local Apparel Store Starts Accepting the Famed Crypto

On the heels of the SpaceX announcement that the company accepted dogecoin as payment, an apparel store on Brooklyn’s colorful Flatbush Avenue took the jump as well into the deep, cold Doge waters. Brick-and-Mortar Is Another Brick in the Crypto Adoption Wall Crypto adoption has been widely and thoroughly discussed in the media and on […]

Xem chi tiết: Doge in Brooklyn: A Local Apparel Store Starts Accepting the Famed Crypto

Iran’s President Wants Crypto ‘Laws and Instructions’ Implemented as Soon as Possible

Iranian president Hassan Rouhani discussed cryptocurrencies at the most recent meeting of the government’s Economic Coordination Board and told participants that regulatory policy is needed to protect consumers. Rouhani believes the Iranian government should “communicate the necessary laws and instructions†as soon as possible so dishonorable crypto businesses are avoided. Regulation Necessary to Keep ‘Unprofessional’ […]

Xem chi tiết: Iran’s President Wants Crypto ‘Laws and Instructions’ Implemented as Soon as Possible

South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme

New submissions by a South African regulator, the Financial Sector Conduct Authority (FSCA) and liquidators have exposed the web of lies and deceptive tactics that were used by Mirror Trading International (MTI) CEO Johann Steynberg and others to perpetuate the Ponzi scheme. Undeclared Losses In its report filed with the South African court, the regulator […]

Xem chi tiết: South African Court Submissions Expose Lies and Deceptive Tactics Used to Perpetuate MTI Bitcoin Ponzi Scheme

Denmark to Revise Tax Law to Target Cryptocurrencies

The Danish tax ministry is reportedly mulling over revising the country’s tax law to deal with the challenges posed by cryptocurrencies. Denmark’s tax authority is concerned about the rising risk of fraud and widespread filing errors involving cryptocurrencies. Denmark to Revamp Tax Law to Deal With Cryptocurrency Denmark is considering revamping its tax code in […]

Xem chi tiết: Denmark to Revise Tax Law to Target Cryptocurrencies

Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down

An official notice stemming from the Changji prefecture government in Xinjiang details that officials from the Zhundong Economic-Technological Development Park must instruct bitcoin miners to shut down. China’s province of Xinjiang is a highly concentrated region of bitcoin miners and bitcoin activities at the park must cease by June 9, according to the document. Nevertheless, […]

Xem chi tiết: Report: Document Shows Specific Bitcoin Miners in Xinjiang Instructed to Shut Down

$160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

An asset management firm with nearly $160 billion in assets under management, Victory Capital, has announced that it is entering the cryptocurrency market. The firm has established exclusive agreements with Nasdaq and asset manager Hashdex. Asset Management Firm Entering Crypto Market Victory Capital Holdings Inc. (Nasdaq: VCTR) unveiled its plans to enter the cryptocurrency market […]

Xem chi tiết: $160 Billion Asset Manager Entering Crypto Market in Collaboration With Nasdaq

Coinbase Says Interest From Pension Funds and Hedge Funds Has Skyrocketed, Institutional Holdings Soar 170%

Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials

Mystery Whale Returns by Moving $35 Million — Miner Transfers 1,000 ‘Sleeping Bitcoins’ from 2010

The First DeFi & NFT Social Media Project, Torum Announces NFT Launchpad

Uganda Museum Collaborates With Software Development Firm to Create NFTs for Display on Binance Marketplace

Warren Buffett’s Berkshire Hathaway Invests in Bitcoin-Friendly Digital Bank

Commodity Strategist Mike McGlone Says $40K BTC Target ‘More Likely’ Than $20K

Crypto Payments App Bottlepay Is Now Available Across Europe