Strange Turtles in District99’s NFTs Propagate a New Era of NFTs Merged with DeFi and DAO

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

A first-of-its-kind NFT project called Strange Turtles in District99 is carving out a new path for the NFT world with the launch of 10,000 uniquely crafted artistic turtles. On the day of Halloween, one of their unique NFTs was featured on Billboard in Times Square, New York.

Each of the Strange Turtles in District99 NFTs is the result of a randomly assembled collection of 250 hand-drawn traits in what is set to be the most innovative NFT project yet. With a private sale event that starts on November 15th, 2021, at 09:00 AM EST, and a public sale the day after, Strange Turtles in District99 NFTs along with 3D membership NFTs offer many perks, including a privileged position as a member of a 99District NFT.DAO.

The NFT train has been gaining steam over the past few months with examples of platforms such as Solana’s secondary NFT market sales blasting through the roof to reach a whopping half a billion dollars in sales in just three months. On a macro scale, NFTs are all the rage right now as sales surge past the 10 billion mark in a wave of excitement that keeps increasing. However, few NFT projects compare to the ambitious heights that 99District NFT.DAO is attempting to reach, their NFT collections go beyond the hype to offer an NFT project that revolutionizes decentralized finance, NFT re-creation, gaming platform and even the metaverse.

Here is more.

How the Project Works

The 99District membership will guarantee owner’s access to the presale of Strange Turtles NFT, and the membership of 99District NFT.DAO community.

Part of the NFTs in the project are already minted for the private sale while a portion remains to be minted on an ongoing basis.

The membership NFTs, which are made into 3D images, also offer holders access to benefits in the 99Distrcit NFT.DAO, which will be formed to direct and determine the future of the entire project.

Apart from the ownership of NFTs, 99Distrcit NFT.DAO also comes with a governance token called $DST which is an ERC20 token that grants voting rights to members in the 99Ditstict NFT.DAO. In addition to the comradery that will glue the project’s members together, a DeFi aspect is included: NFT holders will be able to use existing NFT with $DST to mint new special derivative NFTs that can be sold on secondary markets such as OpenSea, or through NFT+$DST staking system to earn more $DST.

What are NFT derivatives?

Just as derivatives in traditional finance are designed based on the verified value of an underlying asset, the same applies to NFT derivatives in 99District NFT.DAO. 

99District NFT.DAO is pioneering an innovation that will realize a practical implementation of derivatives in the NFT space using purpose-built smart contracts that enable users to directly mint derivative NFTs from their existing NFTs.

An NFT, in this case, can be used as the underlying asset to create a new NFT where an ERC-721 compatible smart contract is used to verify that the user looking to mint a new NFT derivative is indeed the owner of the original NFT.

This project by 99District NFT.DAO allows anyone to mint new NFTs with world-renown artists. Based on ownership of any NFT, a user can mint new and unique NFTs from “templates” created by artist. The newly minted NFT acts as a derivative of the original NFT. This makes the original NFT much more valuable and easier to trade across multiple disparate NFT marketplaces and networks.

99District NFT.DAO and other Perks

Going forward, the 99District NFT.DAO plans to evolve into a community-oriented organization. They are also aiming to establish the DAO as an industry-leading chain of NFTs that keeps the value of the $DST token growing as well as the value of early minted NFTs.

Surprise airdrops are also underway where 1 out of 100 strange turtle owners will get a kickback of 0.799 ETH back to their wallet. Strange Turtles in District99 NFT owners should also expect the beginning of airdrop whitelist collecting of the DAO’s $DST token once the project’s development reaches 25% progress. What’s more, once the project’s roadmap reaches 50% development, 10 out of 1000 Strange Turtle owners will receive an iPhone13 pro.

Conclusion: The 99District Metaverse

NFTs and the metaverse make a perfect match as NFTs bring the same aspects of physical ownership, rarity, and value to a digital metaverse world. While cryptocurrencies enable a decentralized finance infrastructure onto the metaverse, NFTs are the digital key to the metaverse as they translate the uniqueness of physical items into a digital format in the metaverse. In line with the evolving internet, 99District DAO.NFT is building a metaverse for its NFTs where NFT holders will be able to explore the artistic world of 99District and to continually empower their NFTs.