Crypto Company Fair.xyz Is Giving Orginal NFT Minters The Chance To Claim A "Soul-Bound" token
Earlier this week, crypto company Fair.xyz in collaboration with Opensea released its minter tokens that aim to commemorate those who minted certain NFTs.
Minter tokens “cryptographically certify” that users were the original minters of an NFT. These Minter tokens are “soul- bound” tokens which means they’re not tradeable.
“With a single click, we instantly generate a 3D rendered asset of your minted NFT and put this information on-chain, totally FREE of charge,”Fair.Xyz tweeted. “Gasless for the first 500 minters.”
To find out more about Fair.xyz and minter tokens, the Bored Ape Gazette reached out to Fair.xyz's Co-Founder, 0xlazy.Eth and asked why BAYC members should claim their soul-bound tokens.
“On one side, we want to celebrate OG BAYCs who were there at day 1 before the hype, before the cult status, before the price tag; They deserve to be celebrated and the Minter Token gives them a very visual way to showcase this," 0xlazy explained. “However additionally, we believe that BAYC minters (even if they eventually sold) should still be rewarded as they took that initial leap of faith on the project and helped to build its foundations. We hope Yuga will use this public good as a way of providing lower tier gated experiences to minters Finally, as a creator, incentivizing long-term ownership for your collectors is hard. Our technology also provides easy ‘Diamond Hands’ verification for collectors who minted and still hold their original NFT, enabling you to provide rewards to those who have held it since mint. We think this could be a great fit for the BAYC community and we hope both ecosystem project and Yuga can leverage this to incentivize long-term holding.”