Minting Tokens
A new era of NFT minting
What is an NFT Minting Token?
NFT minting tokens are the soul token used to mint an NFT collection. For example, to mint a MadScientist NFT a user must first acquire 10 $LAB tokens. Without the $LAB tokens a user is unable to mint any NFT from the collection.
Deflationary Tokenomics
Each time minting tokens are used to mint an NFT they are burned. This ensures the supply of the token is constantly deflated as more of the collection is minted.
What is a Perpetual Mint?
The concept of a perpetual mint is a new innovation within the NFT landscape. The perpetual mint is made possible by the "minting tokens" and their burning mechanism that occurs upon the minting of each NFT.
For example the $SYN token has a max supply of 100,000 and the NFT supply is 10,000. With each NFT. costing 10 $SYN. For every NFT to be minted the entirety of the $SYN supply will have to be bought and then burnt. Given the fungibility of tokens if a single wallet has 0.000001 $SYN in their wallet then a max mint of the Galactic Syndicate is not possible.
Why use a Perpetual Mint?
This experimental way of launching an NFT opens up a new dynamic for NFTs and trading. Users that hold 10 "minting tokens" can mint an NFT at any time. In theory 10 "minting tokens" should trade at the same price as the floor price of the collection.
Increased rewards for NFT stakers. As the collection will never mint out it means the GraveDigger revenue and any other revenue streams used by the collection will be distributed to fewer NFTs, increasing the reward per NFT staked.
Tokenomics
Max Supply: 100,000 Inflation: 0% Deflation: Variable
Osmosis
Mad Scientists
$LAB
factory/osmo17fel472lgzs87ekt9dvk0zqyh5gl80sqp4sk4n/LAB
Injective
Galactic Syndicate
$SYN
factory/inj1a6xdezq7a94qwamec6n6cnup02nvewvjtz6h6e/SYN
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