Blockchain company IOTA has announced the release of a limited collection of 11,111 NFTs on the new Shimmer network. They provide exclusive opportunities and are one of the initial stages in the development of the project ecosystem roadmap.
Why did IOTA release debut NFTs on the Shimmer Network?
The new collection of non-fungible tokens is intended for users who are ready to explore the unique features of an IOTA network product. All NFTs are divided into 3 categories. Gold, silver and bronze coins will be sold at different prices.
Every digital item is eligible for rewards. To this end, IOTA has launched a special staking program. All decisions on the distribution of tokens and the amount of profitability will be made by the community during the voting. Users will independently determine the percentage of NFT staking rewards. The more tokens held to maintain the security of the Shimmer network, the higher the yield will be.
Such a system is designed to provide long-term funding for the entire ecosystem. The proceeds from the initial sale of NFT will go towards the development of the Decentralized Organization (DAO) in IOTA and the Shimmer network, as well as the creation of future collections. Each token holder will receive a commemorative T-shirt that will be sent by mail.
The IOTA leadership said it is very pleased to provide its users with a new business model. The decentralized finance (DeFi) and non-fungible token (NFT) industries are currently developing very rapidly. With the innovation and launch of its own collection, the blockchain company expects to attract additional community attention. With the help of this approach, the clients of the network will be able to independently manage it, as well as have alternative sources of income. Future NFT collections will focus on improving the interaction between users and IOTA.