The moment we have all been waiting for is rapidly approaching. Hopefully, you already have your Bitfinity wallet downloaded and ready to go. By the end of December, we are projecting our first ever token airdrop. This token airdrop is the result of a collaboration between InfinitySwap and the creative minds behind OG Medals and IC Bucks. And that’s why we are introducing not just a token but also an NFT.
The Details on the Token Drop and NFTs
Infinity Gems is a collection of 2000 NFTs created by DKLord and Egido Val. However, you will not mint these NFTs in the traditional way. They will only be available to those with an Bitfinity wallet who burn a certain number of tokens in order to “mint” a random NFT from the collection.
How is this different from minting an NFT simply by paying in a different cryptocurrency? It is because the mint will result in burning the tokens used. Thus, the full number of tokens will someday be burned when the last of the 2000 NFTs are minted.
In the meantime, what you really should be thinking about is how to get the tokens.
Acquiring the Tokens for the Infinity Gems Burn-to-Mint NFTs
There are only a few ways to get these tokens:
#1 There will be an airdrop for those with Bitfinity wallets – That’s why we keep pushing users to download the wallet and get familiar with it, even though many of its features are still in the testing stage.
#2 There will be an airdrop for OG Medals and IC Bucks holders – This is why the teams are encouraging you to move your assets to a Stoic wallet for now. You want to have your assets in a place where they will be easily found during the snapshot and where the token standard for the airdrop will be accepted. You can't move your NFTs to the Bitfinity wallet quite yet (although it is coming soon).
#3 When our AMM is ready, you will be able to trade ICP for tokens – This is one of the main functions of our AMM. Basically, if you don’t have enough tokens to burn for the NFT, you will be able to buy them from our AMM. Also, if, for some reason, you do not want the NFT or can’t afford to get enough tokens, you can sell the tokens you do have to someone else at a fair market price.
Keep in mind that the details of the token airdrop and how many tokens will have to be burned to mint an NFT are not finalized yet. However, the number of tokens in existence will be exactly 2000 times the number needed to burn for minting one NFT. Therefore, all the tokens will have to be burned for the entire NFT collection to come into existence.
Wen Airdrop Sers?
While being as vague as possible, we will say that we are shooting for a late August/early September airdrop and mint date. The fact of the matter is that there is no point in airdropping tokens to you if the AMM is not live so that you can trade them freely. We know that everything in Web3 is always coming SOON, and that can be frustrating to holders. But it is with good reason.
Developing in Web3 is like flying an airplane while building the plane and learning to be a pilot in the air. We want to ensure a safe landing before we invite everyone on board. Once we’ve got the AMM, wallet, token, and NFT ready to go, it will be time to launch all at once. And trust us when we say it is coming SOON and will be worth the wait.
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*Disclaimer: While every effort is made on this website to provide accurate information, any opinions expressed or information disseminated do not necessarily reflect the views of InfinitySwap itself.