With the minting date set on November 26th, CryptoKrabz said only 6969 CryptoKrabz would be minted and generated, with each Krab able to earn passive income for its holder.
United Kingdom - November 19, 2021 —
CryptoKrabz NFT, a crustacean themed NFT project set to mint on the 26th of November on Binance Smart Chain aims to provide long term utility through passive income rewards for its holders while paying tribute to the pixelated art stylings and non-conformist spirit that helped launch the CryptoArt movement.
The CryptoKrabz collection is comprised of 6,969 uniquely generated art pieces that bear over 100 different possible traits, ensuring the rarity of each piece. The collection, originally intended for launch on the Ethereum blockchain will instead be making its way to the comparatively fledgling but rapidly growing NFT Marketplaces on Binance Smart Chain - a decision made in response to several NFT launches being cancelled due to extremely high gas fees.
Utility Drives NFT Value
Utility refers to a real use that allows new value to be derived from a digital asset over time. This added value has led to utility NFTs continually outperforming their counterparts and slowly edging towards becoming the dominant NFT asset class. Utility is increasingly recognised throughout the NFT community as a key component to project success and a driving force for the NFT market of the future.
With a view to helping generate and maintain future added value, CryptoKrabz have implemented a mechanism that allows their NFTs to generate income in the form of royalties over time. Every time a CryptoKrabz NFT is bought or sold, a percentage of the sale amount is paid back into the CryptoKrabz smart contract. The income generated is then shared by all CryptoKrabz NFT holders. Each NFT held gives its owner an equal claim to all generated royalties. Therefore, the more NFTs one holds the more royalties they receive. This mechanism aims to encourage holding of the asset which in turn can help to support or boost market price while holders reap the benefits of passive income.
Krabz for Cancer
In addition to giving value to CryptoKrabz holders, the team has dedicated 10% of the total mint proceeds to be donated to a cancer charity. A spokesperson from CryptoKrabz said about the donation: “I think it's really so cool to be able to contribute thousands of dollars to a good cause instead of the usual ‘spare change’. The community will vote for the specific charity, and I can't wait for us to deliver it!”
Mint Details and Presale
For a chance to join in the presale, win free NFTs and earn big cash prizes check out the CryptoKrabz team’s discord server: CryptoKrabz Discord
Release ID: 89053654