RebelSols, Solana-based NFT project, launches REBEL token
- About a fifth of secondary market royalties will be allocated to the REBEL token liquidity wallet
- Part of funds to facilitate creation of the utility token
- Tokens will be used for staking, metaverse art gallery viewings and auctions
NFT project RebelSols shared some new information about how it intends to allocate its secondary market royalty and the REBEL token it is about to launch on solana.news. The secondary market breakdown tries to make a case for uplifting the community.
20% of royalties allocated to REBEL liquidity wallet
About a fifth of the royalties will be allocated to the REBEL token liquidity wallet. They will lock the funds temporarily and use part of them to facilitate the creation of the utility token and its distribution. REBEL tokens will be used for staking, metaverse art gallery viewings and auctions, for a Play to Earn (P2E) game that’s yet to be launched, and to pay for exclusive event tickets.
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The official Medium blog goes into specifics:
Looking at projects that have done well throughout 2021, we can see most kept the royalty below 12%. Most also don’t intend to reinvest nearly everything back to the community. Our secondary market royalty rate is set at 20%. This amount was picked for a reason. (..) You can see the breakdown for how the project royalties will be split into the separate wallets added to the program (Solana Smart Contract) that will be written to the blockchain. Our ambitious, community-led venture will use the power of the Solana network to automatically reward community efforts and talents.
Supply capped at 200M tokens
The supply of the REBEL token will be capped at 200 million. The NFT project aims for the third quarter of next year to be the biggest one for the token. At that time, the project will start airdropping 10 tokens per RebelSols NFT held, per holder, per day.
What is RebelSols?
RebelSols is an NFT project running on the Solana (SOL/USD) blockchain network. Its team commissioned a 3D artist to build the first collection of the project, which was launched in November this year. According to the project, its mission is “to provide upcoming programmers, skaters, artists, musicians, thespians, directors, authors, comics, poets, photographers, vagabonds — anyone curious and passionate — opportunities they otherwise might have never had!”