In this episdoe of All About Crypto, Shylo and Farid take a dive into the Moose NFTs. Catch us on our Telegram Channel if you have any questions or comments, and also check out our Social Media Links to stay up to date with everything Elk, as well as future Moose NFT launches!
Non fungable tokens- own something on the blockchain, image is not stored there directly, though metadata that links to the file is there. You're registered as the "owner" of that image. We'll do a whole episode on NFTs at some point.
What stops me from making a copy and selling it for the same price?
Contract address verifies that it is the orginal, you can always tell based on the data on the blockchain.
What is the deal with Moose NFTs?
It is a token that will allow anyone who buys it to run a paranode, which I'll get more into later, and we've somewhat mentioned in the "All About Elk" episode. Basically, a Moose allows the owner to wrap 1 token (a single contract address) on the chain the Moose is on and send it to the other chains Elk is on in a wrapper. It would hold the original token in a smart contract on one chain, wrap it, burn the wrapped version when sending, and mint it on the destination chain.
Why is the moose so expensive now, didn't it use to be 600 bucks? What happened to the airdrops?
As of now, still getting 4.2 Elk per Moose per chain, but at some point, even this will be unsustainable, as the amount of chains we're on increases, the amount of airdrops increase exponentially. We weren't really making as much for liquidity for new chain launches and incentives. We feel like Elk has reached a point in the development cycle where we really have something to show, and owning a Moose is another way to have a stake in the future of Elk, as well as the projects that will use ElkNet. For the BSC moose, for example, we are trying something different and using a whitelist to prevent botting- using winners of ElkSeason 2 and top 10 liquidity holders on BSC. We'll see how this goes for future launches. This provides liquidity for our ETH launch!
Okay, if there are no airdrops, what are the rarity benefits?
Well, some of that is under wraps, but you may know if you're hearing the episode at a later time. Besides being more rare and sought after (only 30 rare and 9 Epic) there will be other exclusive benefits for these moose holders! Stay tuned.