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Disclaimer: This is a sponsored article. No content or article should be considered as financial advice. We strongly recommend you to conduct due diligence and always do your own research before investing in a project.
Introduction
The world of Generative Art has experienced a major boom during 2021. The principle of being able to generate artistic NFTs entirely created by an algorithm has become well known in the NFT space in particular thanks to the Art Blocks platform.
Other projects have also become known thanks to this generative method but due to high gas fees on Ethereum, it can sometimes be very expensive to create work of this type. To overcome this issue, Polygon’s scaling solution is being adopted as a major alternative to Ethereum by more and more projects.
This is exactly what Meraki, Polygon’s first generative art platform, intends to do!
Presentation
Although Meraki recently came out of stealth mode, the idea germinated in the Spring of 2021 to offer artists and collectors a platform to easily mint and collect generative art.
With a well-thought out user interface, as an artist, you will be able to import your scripts on Meraki and then take advantage of random generation thanks to the use of Chainlink VRF. It is in this way that Meraki intends to create a platform entirely dedicated to generative art.
For the launch of the platform and especially its management, Meraki will make an Initial Dex Offering (IDO) where NFTs will be used among other things for governance.
A DAO based on NFTs
To be able to participate in the governance of the project, 10,000 NFTs will be available for sale at $150 each. The Meraki token is an NFT that rewards the holder with a share in the platform profits. 100% of all profits earned by the Meraki Platform are shared between the token holders.
The token holders consist of Treasury 40%, Team 30%, Advisors 20%, Public 10%.
Although at first glance, the majority of tokens are reserved for the team or treasury, here is how the powers of each token will be distributed:
Each NFT has an ID. There will be 100,000 NFTs with sequential ID numbers.
- The Meraki Tokens sold in the IDO will have ID’s 0-9,999 and the team tokens will be 10,000-99,999.
- NFTs with an ID between 0-9,999 will have a DAO Vote Weight of “1” NFTs with an ID between 10,000-99,999 will have a DAO Vote Weight of “0.1”.
- The vote weights will be 10,000 Publicly held tokens : 9,000 Team held tokens.
In this way, the 10% of NFTs reserved for the public sale will have more weight than the NFTs reserved for the team.
In addition to this, NFTs of the Team and Advisors are fully locked for 24 months after the IDO starts. After 24 months these tokens will be released at a rate of 5% per month, meaning a further 20 months to be fully unlocked.
Conclusion
One of the biggest blocks for code lovers who want to use an algorithm to create generative art NFTs is the cost of creating a smart contract on Ethereum. It is also a block for collectors who particularly appreciate when the code is stored on the blockchain.
With Meraki, as everything will take place on Polygon, the question of high gas fees will only be a distant memory.
Meraki’s IDO takes place on November 12th, 2021 and the team has estimated a January 2022 launch date. The team behind Meraki has been working for months on the realization of its project and will communicate all the progress of the platform on their different social networks.
Don’t hesitate to ask them your questions on their different channels!
Website – Twitter – Discord
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