A first-of-its-kind NFT project called Strange Turtles in District99 is blazing a new trail for the NFT world with the launch of 10,000 unique art turtles. On Halloween, one of their unique NFTs was featured on a billboard in New York City’s Times Square.
Strange Turtles in District99’s NFTs are all randomly assembled from 250 hand-painted features in what will be the most innovative NFT project to date. With a private sales event beginning November 15, 2021 at 9am EST and a public sale the next day, Strange Turtles in District99’s NFTs and 3D Member NFTs offer many benefits, including the privilege of being a member of the 99District NFT.DAO Status.
The NFT train has been gaining momentum over the past few months, with examples such as Solana’s blistering secondary NFT market sales, which reached a staggering $500 million in sales in just three months. On a macro level, NFT is all the rage right now, as sales have surged past the $10 billion mark in a wave of increasing excitement. However, few NFT projects can match the ambitious heights that 99District NFT.DAO is attempting to reach with their NFT series that transcends the hype and offers a revolutionary decentralized finance, NFT re-creation, gaming platform and even meta-space NFT project.
How the project works
Membership in 99District will guarantee the owner access to Strange Turtles NFT pre-orders and membership in the 99District NFT.DAO community.
Some of the NFTs in the program have already been minted for private sale, while some are still being minted on an ongoing basis.
The membership NFTs that have been made into 3D images also offer holders the opportunity to gain a stake in the 99Distrcit NFT.DAO, which will be formed to guide and determine the future of the project as a whole.
In addition to ownership of the NFTs, 99Distrcit NFT.DAO comes with a governance token called $DST, an ERC20 token that grants members voting rights in 99Ditstict NFT.DAO. In addition to the camaraderie that glues the project members together, a DeFi aspect is included.NFT holders will be able to use existing NFTs with $DST to mint new special derivative NFTs that can be sold on the secondary market, such as OpenSea, or earn more $DST through the NFT+$DST betting system.
What is an NFT derivative?
Just as derivatives in traditional finance are designed based on the verified value of the underlying asset, the same applies to the NFT derivatives of the 99District NFT.DAO.
99District NFT.DAO is a pioneering innovation that will enable the actual implementation of derivatives in the NFT space using purpose-built smart contracts, enabling users to cast derivative NFTs directly from their existing NFTs.
In this case, an NFT can be used as the underlying asset to create a new NFT, where an ERC-721 compliant smart contract is used to verify that the user wishing to cast a new NFT derivative is indeed the owner of the original NFT.
This project by 99District NFT.DAO allows anyone to cast a new NFT with a world-renowned artist.Based on ownership of any NFT, users can cast new and unique NFTs from a “template” created by the artist.The newly cast NFT acts as a derivative of the original NFT. This makes the original NFT more valuable and easier to trade on several different NFT marketplaces and networks.
99District NFT.DAO and other benefits
Looking ahead, 99District NFT.DAO plans to grow as a community-oriented organization. They also aim to establish DAO as an industry leading chain of NFTs that will grow the value of $DST tokens as well as the value of early minted NFTs.
A surprise airdrop is also in the works, where 1 in 100 Strange Turtle owners will receive a 0.799 ETH rebate back to their wallet. Strange Turtle NFT owners at District99 should also expect the airdrop whitelist collection of DAO’s $DST tokens to begin once the project is 25% of the way to development. What’s more, 10 out of 1,000 Strange Turtle owners will receive the iPhone 13 pro once the project’s roadmap reaches 50% development.
To sum up: the $99District meta-universe
NFTs and metaspace are a perfect match because NFTs bring the same aspects of physical ownership, rarity, and value to the digital metaspace world. While cryptocurrencies bring decentralized financial infrastructure into the metaspace, NFTs are the digital key to the metaspace because they translate the uniqueness of physical objects into the digital format of the metaspace. In keeping with the evolving internet, 99District DAO.NFT is building a meta-universe for its NFTs, where NFT holders will be able to explore the artistic world of 99District and continually enhance their NFTs.