IOTA launches limited edition Shimmer Jersey and Genesis NFTs

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Nov 22, 2021
  • Genesis NFTs target the early risk adopters in IOTA’s ecosystem
  • The increased staking rewards will be unlocked after a Shimmer community vote
  • All proceeds from the NFT sale will go toward DAO development within the IOTA and Shimmer ecosystem

Last Tuesday, IOTA (MIOTA/USD) officially unveiled Shimmer, an incentivized staging network with a native token $SMR of practically limitless potential. Today, they are launching a limited edition Shimmer Jersey and 11,111 Genesis NFTs, which come with a roadmap and a set of exclusive perks to accelerate the creation of a whole ecosystem, Invezz learned from a press release.

NFTs target early risk adopters

The Genesis NFTs target the early risk adopters in IOTA’s ecosystem, who are ready to explore the unique ways, in which they can make the community stronger. The NFTs have different prices and amounts and will be tiered into Gold, Silver and Bronze. Genesis NFTs also come with the possibility of more staking rewards.

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Increased rewards unlocked after community vote

The increased staking rewards will be unlocked after a Shimmer community vote. The exact distributions are determined by the community. The staking reward will increase by 15% if the community votes for a 15% staking boost of Genesis Gold NFTs. It will grow by 30% for someone who holds two Gold NFTs and so on.

Each staking boost will go hand in hand with minting the equivalent amount in staking rewards for the Community DAO. The goal of this is to secure long-term funding for the IOTA ecosystem.

NFT sale proceeds invested in DAO development

All proceeds from the NFT sale will go toward DAO development within the IOTA and Shimmer ecosystem and for future NFT campaigns. Those who purchase an NFT are making a direct investment in the ecosystem.

Advantages of Genesis NFTs

Apart from the staking boost to be voted by the community, you can get a limited edition Shimmer Genesis Jersey, which you can wear everywhere. Holders of Genesis NFTs also earn exclusive DAO membership. Holders will form a DAO in the Shimmer network. Then, they can control and allocate community project funding.

Participants will also get access to future airdrops and exclusive offerings. The Genesis NFT will serve as an access key to airdrops and NFTs exclusively launched for holders. In the future, a single NFT will HODL many.

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