Here’s how cryptocurrency fans can claim first-ever NFT drop by novel project Foreon Network (FRN)
Focused on building a large and passionate community, Foreon Network (FRN), a prediction market protocol on Cardano (ADA), announces the start of its first-ever sale of non-fungible tokens (NFTs).
Foreon Network (FRN) inaugural NFT sale kicks off
According to the official announcement shared by Foreon Network (FRN), a decentralized PM platform on Cardano (ADA) blockchain, its first-ever round of NFT sales went live on May 29, 2023.
The Foreon Network Seed NFT Bonds Offering is Live!
Visit https://t.co/bITyZfd8U2 to mint your Foreon NFTs.
(Remember, you must be whitelisted to participate.)
Each Foreon NFT is redeemable for 12,500 $FRN tokens.
We’ve partnered with @nmkr_io to ensure a smooth minting… pic.twitter.com/nlpEVcPpRu
— Foreon Network | Web3 Prediction Market On Cardano (@foreonnetwork) May 29, 2023
In total, the team of Foreon Network (FRN) is going to mint 80 Foreon NFT Chips through NMKR.io seamless minting technology. The mint price for tokens is set at 10,000 ADA (about $3,800 in equivalent); the team is going to allocate 10% of the net FRN supply for the mint.
Each whitelisted wallet can apply for five NFTs maximum, in order to ensure the most democratic and inclusive participation.
The NFTs by Foreon Network (FRN) are equipped with a couple of amazing utilities. Not only do they represent exclusive digital collectibles, but also they serve as “utility badges” for receiving premium perks on Foreon Network (FRN) prediction markets platform.
As Foreon Network (FRN) migrates to a fully decentralized model, all holders of these NFTs will be able to open markets and subsequently get financial bonuses with fees upon each market’s settlement.
The NFT sales campaign will run until July 13, 2023 (5:00 p.m. UTC).
Welcome airdrop for all early birds
According to statistics provided by the team of Foreon Network (FRN), at least 20% of the entire NFT supply allocation for the campaign has already been claimed during its first 24 hours.
Besides NFT-related utilities themselves, holding Foreon Network (FRN) collectibles automatically qualifies as an entry ticket to the FRN airdrop. A total of 12,500 Foreon Network (FRN) tokens will be allocated to participants in the airdrop.
As such, the dual-phase Q2, 2023, airdrop campaign, which includes coin distribution and NFT claims, is designed to introduce Foreon Network (FRN) solutions to larger audiences and provide its long-term supporters with one more opportunities to earn in a passive way. The utility of both FRN tokens and NFTs by Foreon Network will be enhanced as the protocol matures.
Introducing new-gen prediction markets to Cardano (ADA) dApps ecosystem: What is Foreon Network (FRN)?
As covered by U.Today previously, Foreon Network (FRN) is a protocol that advances the prediction market opportunities for the Cardano (ADA) ecosystem.
Introduced to the general public in May 2023, it supports the same functions that made popular on-chain PMs of previous generations starting with Gnosis (GNO) and Augur (REP). However, it addresses major bottlenecks of this type of product, including high fees, participation limitations and so on.
With Foreon Network, everyone is able to benefit from publishing his/her forecasts on various real-world events. Working with the protocol does not require extra skills in crypto, trading, blockchain and Web3.
The protocol leverages Cardano (ADA), the largest proof-of-stake (PoS) network, as its technical basis. As such, it benefits from competitive throughput, full decentralization, high operational speed and low fees.