NFT.com recently announced its plan to release genesis keys to mint personalized profiles for NFT collectors, builders, and creators. These profiles can be used across various Web3 platforms. The public sale to mint Genesis keys begins at 7 pm EDT on May 2, 2022.
NFTs or non-fungible tokens are the latest trends in the market. Every artist, singer, billionaire, influencer or politician is involved with NFTs. And this hype is rational because NFTs are the most precious digital assets of the modern world.
As the world economy slowly transforms into the digital economy, NFTs are the new asset holding digital value in the market. Much like the real estate properties, these assets also increase in value based on the demand as the time passes.
With so much buzz around NFTs, NFT.com emerges as a unique platform in the industry. It is an all-in-one solution to help creators customize NFTs, belonging to various industries.
NFT.com is a community-driven platform founded by Jordan Fried that enables users to control the system. It has its own creator ecosystem that gives power to creators regardless of whether they are a novice or widely popular in the community.
NFT.com believes that NFTs are slowly becoming centralized due to their value. Most big corporations try to govern the NFT marketplaces. NFT.com removes this authority as a Decentralized Autonomous Organization (DAO) by giving power to common people. In other words, the platform is more decentralized and every person has an equal opportunity to showcase their talent as a creator.
NFT.com is a subsidiary of Immutable Holdings, a company that aims to empower a more democratized system in Web3 and blockchain platforms.
How do NFT.com profiles work?
The NFT.com ecosystem allows users to first mint their profile names. Users can mint any name and have ownership over it. This name will be used for the marquee address, display, storefront, and other digital assets; they are like galleries.
This name is like the home base in Web3 for all platforms. The users can customize it, modify it, or sell it if it’s in demand. However, only 10,000 people can mint profiles on the platform upon launch.
In this case, the users are required to buy the Genesis key by NFT.com to access the profile name option.
The Genesis key is a key that allows users to mint two NFT.com profiles. These animated designed NFTs operate on the Ethereum blockchain.
The keyholders gain access to the company’s exclusive events and community. In the community, they can vote for various events and receive other benefits from NFT.com.
A total of 20,000 NFT.com profiles are limited to Genesis key holders only. These NFT.com profiles lay a foundation for the website’s aim to launch a Web3 decentralized social network.
Genesis Key auction
The Genesis key was sold through a blind auction. As mentioned before, there are a total of 20,000 genesis keys, out of which 3,000 keys went live on auction at 7 pm EDT on April 26. Users who registered through the whitelist were included in this auction. The auction spanned around 48 hours.
The bid will be placed and the price of the 3001st bid will become the main price for all winners to mint their keys. This means all winners will pay the same price of the bid by the 3001st participant.
The remaining 6,750 will go on public sale with the mint price of about the 1,500th bid at 7 pm EDT on May 2. The price will be fixed based on the top median of the blind auction bid. 250 keys are reserved for NFT.com artists, team members, and partners.
Future of NFT.com Genesis Key
NFT.com Genesis Key is the gateway to unlocking all kinds of various opportunities. For collectors, it is an important asset to hold to display their collection with their minted profile name.
NFT.com has also announced exclusive new features such as profile gallery, analytics, and marketplace to be included in the ecosystem for only key holders. These features will be launched in the second quarter of 2022.
All-in-all NFT.com profiles are a good NFT to mint to establish a name in the industry. Some profile names might even become a valuable asset for users to sell in the marketplace.
Furthermore, NFT.com’s vision to make blockchain more decentralized shows that future projects, including the Genesis key, will give more opportunities for people to make decisions on the platform.
For more information on the upcoming public sale or other updates, visit:
- Website: https://www.nft.com/.
- Twitter: https://twitter.com/NFTcomofficial.
- Discord: https://discord.com/invite/nftdotcom.