Minting Day is Approaching for the Rare NFTs from Outer Space
soAliens are extraterrestrial but have been living on Earth for quite some time, hence their adoption of human culture and lifestyles, and this has resulted in some of the coolest and rarest NFTs out there.
10,000 unique soAliens are slated to be minted on the 24th of November at 12 p.m. UTC, for an estimated price of 0.33 SOL.
There are four team members in total working on soAlien: Roro, Fresh Prince, Mister T, and Bebop. One artist, and three others whose focuses range across tech, community management, marketing, and strategy. Part of the team’s vision is to involve each owner of soAlien NFTs in becoming part of the project’s decision-making process via a democratic system.
Mister T, in a DailyCoin exclusive, spoke in detail about the project and soAliens’ future goals:
“We believe soAliens fit well into the Metaverse; somewhat real, somewhat fiction. In addition, the complexity of conspiracy theories and real information about aliens helps to build a continuing story, technical features and, of course, to engage the community.”
soAlien Is a Chapter-based Project
The team aims to work together with future NFT holders to create new chapters for the storyline. In Chapter 2, only NFT owners will be able to participate in the storyline, and later lend their aid in Chapter 3 as well. The project has laid out a framework for Chapter 2, in which soAliens (AlienVille, Chapter 1), will have a new species coming to live with them.
“‘Chapter’ means that we don’t just promote the collection, mint it, and then put it on different marketplaces. We want to involve the community and the NFT holders for a second, third, and maybe more chapters. Only those who hold at least one NFT can participate in the next storyline of this project,”
Mister T clarified.
The roadmap consists of the following tools and features:
- Gatekeeper – The main wallet issuing minted NFTs and receiving minting funds. Gatekeeper will serve as the main interaction wallet to ensure that everything runs smoothly and transparently on the Blockchain. The functions of Gatekeeper include: the main project wallet, the NFT sales treasury, a Burn issuer, a Shizzle Tax receiver, a Royalty receiver, and the Area 56 Deflationary Mechanism. The project will use 2% of all royalties to buy back NFTs and burn them, taking them out of the collection, and therefore circulation. This will reduce the circulating supply, helping to maintain and stabilize the price.
- Shizzle My Alien Tax (SMAT) – SMAT applies if you list one of your soAliens on a secondary market at the highest sale price. SMAT will flow into Gatekeeper and be used to buy back NFTs and burn them in accordance with the Area 56 Deflationary Mechanism, thereby reducing the total number of soAliens available on the market.
- Spacecraft (Governance & Staking) – The project will implement a governance vault, which means users will need to stake their NFT in order to participate in reward distribution. This will be done via a snapshot and the length of a user’s respective NFT stalking. Spacecraft will also be the main decision vault – users get a vote for each NFT owned to contribute to guiding the project’s direction, when necessary.
Play-to-earn NFTs in Alienville
Play-to-earn is a business model through which users get to play a game and earn cryptocurrency while doing so. The key component in this model is giving gamers ownership over certain in-game assets, and allowing them to increase their value by actively playing the game. Defining the ownership and even transferring it is possible through the use of NFTs.
The leading example of play-to-earn at the moment is . It’s a video game that utilizes NFTs. When playing with those NFTs, whether it’s fighting or building the city, players receive rewards in the form of tokens which can then be cashed out. The soAlien team may add the play-to-earn feature to their project as well:
“We are super excited for what’s coming, and how Crypto, NFTs, and the Metaverse change literally everything we are used to. We are listening to the community, but also thinking ahead to create long-lasting value and a growing project.
Last but not least, we are considering adding play-to-earn, and we are discussing with the right people how to support this development. For minting and the roadmap for the rest of 2021, we’ll stick to what we can deliver – we have a concrete plan, we will involve the community and announce next steps.”
On The Flipside
- Even for the most promising projects, the future is always uncertain due to the nascent NFT industry.
Why You Should Care?
NFTs are gaining popularity and the industry seems to be expanding at a rapid pace. Non-fungible tokens are showing potential in both the financial and creative spheres.
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Poloniex rolled back support for stablecoins on Binance Smart Chain (BNB Chain)
Crypto exchange Poloniex (one of the key investors of which is the creator of the ecosystem TRON Justin Sun) stopped supporting stablecoins on Binance Smart Chain (today – BNB Chain). Poloniex tech support announced this in a tweet.
Tech support later deleted the tweet, but it is still viewable on the websites that linked to it. When trying to open an announcement about the termination of support for Binance Smart Chain stablecoin, the exchange’s website takes you to an authorization form.
According to the saved copy of the announcement, the exchange stopped supporting USDT, USDC, TUSD and BUSD based on the BEP20 protocol back on November 24. However, support for other BNB Chain-based tokens remained in place.
The exchange said that it stops not only deposits but also withdrawals of stablecoins on BEP20, but is ready to convert assets to their counterpart on other networks: Ethereum (ERC20) or TRON (TRC20). It is not clear what exactly caused the change. At the same time, Poloniex representatives on Telegram ignore users’ questions about the reasons for stablecoin support stopping on BEP20, but note that users can still deposit tokens on BEP20.
Earlier, we reported that MakerDAO will exclude renBTC from DAI stablecoin reserves due to the drop in renBTC price.
Binance Launches Proof-of-Reserves System
Binance has released a Proof-of-Reserves system based on Merkle Tree, an algorithm for verifying crypto exchange reserves. The Proof-of-Reserves system proves that the company holds user funds in full. When a user deposits one bitcoin, the exchange’s reserves increase by one bitcoin in real time, proving the transparency of balances and the safety of funds.
The first version of Proof-of-Reserves is available for bitcoin (BTC). Similar functionality will soon be available for ETH, USDT, USDC, BUSD and BNB. Binance will also bring in an independent third-party auditor to verify the data.
“Given recent events, it is clear that the community will demand more from crypto exchanges than what is currently required of traditional financial institutions. That’s why we are excited to provide our users with this newest feature to verify crypto exchange reserves,” said Binance CEO Changpeng Zhao.
He added that Binance’s community is larger than that of any other crypto exchange. Therefore, it will take several weeks to get data for most assets.
“We are working to get the next update out as quickly as possible. As much as possible to meet community expectations,” Zhao noted.
Right now, users can check funds in two ways: through the Binance website or by copying the source code into a Python application and cross-referencing.
Also, the ZK-SNARK tool will soon be introduced, providing privacy and simplicity for confirming reserves. The service will help audit users’ balances and confirm that they have assets to cover collateral.
Earlier, we reported that New York City restricted the cryptocurrency mining business.
Polkadot offers money for fighting crypto fraudsters
Blockchain project Polkadot has launched Anti-Scam Bounty, an anti-crypto fraudsters program to improve the security of its ecosystem. As part of the new program, Polkadot will pay users cash rewards for helping them fight crypto fraudsters.
Users are required to find fraudulent websites, fake social media profiles and phishing apps that masquerade as Polkadot. They also need to protect Discord servers from hacker attacks. The tasks include creating training materials for users, as well as developing a special Anti-Scam toolbar to protect against fraud in the company’s ecosystem.
“Decentralizing anti-cryptocurrency scammer list efforts and moving them online is no easy task, mainly because most of the anti-scamming happens in Web2,” Polkadot said in a statement.
Each task is overseen by members of the Polkadot community. They will interact with implementers and suggest their own initiatives to better achieve results. Users will receive USD Coin (USDC) awards for helping to fight fraud. The program is now run by three mentors from the Polkadot community and two employees from the Web3 Foundation.
“The threat to Polkadot’s brand development is real, but that’s not our only concern. We don’t want Polkadot to be a free ecosystem. We want it to be a secure ecosystem where users don’t have to constantly worry about getting caught and scammers should think twice before casting their nets,” Polkadot said.
Polkadot concluded by reaching out to scammers, promising that they will have a tough time in the ecosystem.
“So pack your bags and go for it. Or better yet, get a job and stop stealing from people!” the authors of the release concluded.
We previously reported on why the collapse of FTX won’t kill the crypto industry.
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