IOTA debuts genesis NFTs on newly-launched Shimmer network

Monday 22 November 2021 4:59 pm

Not-for-profit network IOTA has launched a limited edition series of 11,111 genesis NFTs that come with a set of exclusive perks and a roadmap to accelerate the creation of an entire ecosystem.

Shimmer Genesis NFTs, designed for the early risk adopters in the IOTA ecosystem, will be tiered into Gold, Silver and Bronze, priced at different levels and limited amounts.

Each NFT gives a potential right to staking rewards, both to the NFT holder and to the Shimmer Treasury. This increased staking reward will only be unlocked after a governance vote by the Shimmer community, which will ultimately decide on the exact distributions.

“If the community votes to give Genesis Gold NFTs a 15% staking boost, your Shimmer staking rewards will increase by 15%,” explained IOTA.

“If you hold two Gold NFTs, your rewards will increase by 30% and so on. You can simply stack NFTs to increase your staking rewards for securing the Shimmer network. For every staking boost, the equivalent amount in staking rewards will be minted for the Community DAO, supplying the community with long-term funding for the ecosystem.”

All earnings from the NFT sale will go straight into the development of DAOs within the IOTA and Shimmer ecosystem and for future NFT campaigns.

The IOTA NFT collection includes…

  • Shimmer Genesis Jersey. 
  • Staking boost, to be voted by the community. 
  • DAO membership of Genesis NFT holders. 
  • Shimmer Genesis NFT. 
  • Access to future airdrops and exclusive offerings. 

About IOTA

The IOTA Foundation is a global not-for-profit foundation incorporated and headquartered in Germany. The Foundation’s mission is to support the research and development of new distributed ledger technologies (DLT), including the IOTA Tangle. It encourages the education and adoption of distributed ledger technologies through the creation of ecosystems and the standardization of these new protocols.

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