The upcoming airdrop of the “NFT” token by the Non-Fungible DAO will probably be supplied to Bitcoin Ordinals merchants on the Magic Eden market—previous, current, and future.
The Non-Fungible DAO introduced the main points in a tweet on Thursday, saying that customers of the Magic Eden-developed, open-source MSigner—which lets merchants signal Partially Signed Bitcoin Transactions (PSBTs) to conduct Ordinals transactions—will probably be rewarded within the upcoming token airdrop.
In line with a tweet from the DAO, greater than 75 million PSBTs have been signed thus far utilizing MSigner, with over 1.3 million Ordinals swaps on {the marketplace}. The DAO added that it “[looks] ahead to supporting any platforms who want to undertake MSigner,” suggesting that merchants on different marketplaces that select to make the most of the tech might probably profit from the airdrop.
The NFT token was introduced in January, with the DAO describing it in a tweet as a “community-owned, decentralized group on a mission to develop and drive adoption of the protocols that may energy the way forward for NFT commerce.”
Nice information for ALL Ordinals lovers! We’re proud to remind you that $NFT will probably be rewarded to individuals for his or her previous, current, and future utilization of msigner, an open-source Ordinals Partially Signed Bitcoin Transaction (PSBT) signer library powering @MEonBTC, the highest Ordinals… pic.twitter.com/zTsdmekXXs
— Non-Fungible DAO (@Non_FungibleDAO) March 7, 2024
To this point, the Non-Fungible DAO has been carefully related to Magic Eden. And proper now {the marketplace} is at present the main cross-chain market by buying and selling quantity. Magic Eden stated that it’s going to open-source and provides its varied NFT minting and buying and selling applied sciences to the DAO, and the DAO then plans to reward customers of these protocols by way of the token airdrop.
At present, that listing of protocols contains MSigner on Bitcoin, together with Magic Eden’s Ethereum launchpad contract and its Solana market and assortment provides/automated market maker good contracts. The DAO had beforehand revealed plans to reward Bitcoin Ordinals merchants that use the MSigner tech, however had not supplied supporting particulars round it.
What’s the Non-Fungible DAO, although? The individuals behind the token have but to disclose themselves, and Magic Eden insists that it is a separate group. Magic Eden Normal Supervisor Tiffany Huang advised Decrypt in January that the DAO was led by a group of people that have “traditionally launched totally different tokens.”
No timeline has been introduced for the NFT token launch. Decrypt reached out to the DAO for clarification on which chain(s) the token will probably be minted on, however didn’t instantly obtain a response.
Edited by Stacy Elliott.
