Hello everyone! Let’s talk about the sensational NFT project 1MillionNFTs. We will start with theory about what NFT is and what it is eaten with. Next, we will discuss the 1MillionNFTs project, its prospects and opportunities.
probably the main trend of 2021 in the blockchain industry is NFT projects.
NFT (Non-fungible token) — a type of cryptographic tokens, each is unique and cannot be exchanged or replaced with another similar token, although usually tokens are fungible in nature.
In simple terms, the blockchain allows you to tokenize a digital object, that is, assign it a personal code, which will contain all the metadata, including your creator status. The asset can now be formally owned and managed. This scheme is described in the abbreviation NFT — Non Fungible Token, non-fungible token.
Let’s finish with the theory and move on to our favorite project 1MillionNFTs :)
In 2005, Briton Alex Tew needed money to study at the university. The result of his reflections on the topic “where to get the funds?” became the site milliondollarhomepage.com with a simple mechanics: there are a million (a thousand in width and a thousand in length) pixels, each of which can be redeemed, “painted” in the desired color and made an active link to your page.
Each pixel on Tew’s website cost one dollar, but you could buy at least a block of 10 by 10 points.
The author put up the last thousand pixels for auction on eBay. A few days later he sold them for $ 38,100, thus earning 1.037.100 $ from the project.
What’s with 1millionnfts tokens?
ERC-721 NFT tokens
Each NFT token is a verified blockchain of 1 pixel ownership on a shared grid.
ERC-20 1MIL tokens
Tokens are needed to BUY NFT pixels and paint them to make some pictures on the grid.
At the very beginning, 120,000 1mil tokens will be available, a total of 10,000,000 1mil will be issued.
It should also be noted that there is a blockage for strategic investors and only 10% of their investments are available to them at the beginning. If they do not have enough tokens for the desired coloring, they will be able to buy the missing ones on the market, which can increase the value of the tokens themselves.
1MillionNFTs trading platform
As we found out earlier, users receive a few % of the unlocked ERC-20 tokens. They also have the right to buy NFT in a reserved place and paint it once, 24 hours are allocated for everything. The platform will provide an opportunity to sell and rent NFT and ERC-20 tokens.
The author’s vision of how the project can develop
According to the author, the creators of 1MillionNFTs should develop the community because community will be the fuel for the development of the platform, perhaps it makes sense to introduce a referral program so that users attract their friends for a small reward in the form of a token or a discount on it.
You should also run creative contests to increase user engagement, like this :)
In my opinion, the 1MillionNFTs project has every chance of becoming a legendary project and remaining in history.
I wish good luck and success to developers and creators !