Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » IOTA Unveils Genesis NFTs on the Shimmer Network

IOTA Unveils Genesis NFTs on the Shimmer Network

Kelly Cromley by Kelly Cromley
Nov 23, 2021
in Market News, News
Reading Time: 2 mins read
0

One of the most significant events was the announcement by the IOTA Foundation of the introduction of the Genesis NFTs, which was intended to reward early adopters. In addition, IOTA has launched these NFTs on the Shimmer Network, which will enable for faster network improvements across the IOTA ecosystem.

A limited edition Shimmer Jersey as well as 11,111 Genesis NFTs have been released as a consequence of this partnership, according to IOTA. The rollout will be accompanied by a number of distinct benefits as well as a plan that will help to speed the development of a full environment.

As stated in the original release, “Shimmer Genesis NFTs are intended for early risk takers in our ecosystem who are interested in exploring the many ways in which NFTs will empower the community. The NFTs will be divided into three categories: Gold, Silver, and Bronze, with each category having a distinct pricing and quantity restriction. Shimmer Genesis NFTs, in contrast to your regular JPG, have the ability to provide a staking increase. The combination of HODL Genesis NFT and stake Shimmer tokens results in increased staking rewards.”

Staking incentives for NFT holders, as well as for the Shimmer Treasury, are possible with each NFT that is purchased and held. The enhanced staking incentive, on the other hand, can only be unlocked once the Shimmer community votes on it in a governance vote.

The specific allocation of the incentives will be decided by the Shimmer community at the end of the process. Consequently, if the community chooses to give Genesis Gold NFTs a 15 percent stake raise, the staking incentives for Shimmer will likewise be increased by 15 percent as well. For every two Gold NFTs a user has, their rewards will rise by 30%, and so on. Consequently, users may raise their staking payouts simply by stacking their NFTs while also ensuring the security of the Shimmer network.

Consequently, for every staking increase, an equal amount of staking rewards will be generated for the benefit of the Community Digital Asset Organization. This will assist the community in securing long-term financing for the environment.

“Given that there is a lot to improve for Shimmer and IOTA, all proceeds from the NFT sale will be invested directly into the advancement of DAOs within the IOTA and Shimmer environment, as well as future NFT campaigns, providing a significant boost to the advancement and expansion of the Shimmer community,” the announcement continues. “You’re making a direct investment in the ecosystem and in the eventual success of the project if you purchase an NFT.”

The community has reacted favorably to the most recent development in the area. In the previous 24 hours, the IOTA native token (MIOTA) has increased around 20% of its value. The digital asset is now trading at $1.55, representing a gain of over 17 percent in the previous seven days.

Previous Post

OKcoin Becomes First US Regulated Exchange to Display Bitcoin Price in Satoshis

Next Post

Glassnode – Long-Term Bitcoin Holders Hit Multi-Year High

Related Posts

coinbase partners with perplexity ai

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
0

Coinbase has entered into a strategic collaboration with Perplexity AI to provide users with real-time cryptocurrency market data through artificial...

Hedera

Hedera Moves Closer to AI Mainstream with Intel and NVIDIA Support

by Kelly Cromley
Jul 14, 2025
0

Hedera, a decentralized public blockchain, appears to be stepping into the spotlight as a key enabler of artificial intelligence infrastructure,...

Kenya

Kenya Launches $KDT Token on Solana Blockchain to Drive Digital Inclusion

by Kelly Cromley
Jul 14, 2025
0

Kenya has taken a notable step toward embracing digital innovation through the public endorsement of a private sector-led initiative to...

imagen network

Imagen Integrates XRP for Faster Web3 Social Transactions

by Kelly Cromley
Jul 13, 2025
0

Imagen Network, a decentralized social platform driven by artificial intelligence, has introduced XRP-based liquidity modules across its multichain infrastructure. This...

endless partners with rei network

Endless and REI Network Join Forces to Simplify Web3 Development

by Kelly Cromley
Jul 13, 2025
0

Endless Protocol has announced a strategic partnership with REI Network, a lightweight blockchain infrastructure developed by GXChain Global. The collaboration...

Injective Blockchain Faces Backlash as INJS Minting Comes to Abrupt Halt

Injective Forms Power Council to Bridge Web2 and Web3

by Kelly Cromley
Jul 13, 2025
0

Injective has unveiled the Injective Council, a newly established strategic advisory group comprising senior representatives from major Fortune 500 firms...

Next Post
Glassnode – Long-Term Bitcoin Holders Hit Multi-Year High

Glassnode – Long-Term Bitcoin Holders Hit Multi-Year High

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

coinbase partners with perplexity ai
Market News

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
Hedera
Market News

Hedera Moves Closer to AI Mainstream with Intel and NVIDIA Support

by Kelly Cromley
Jul 14, 2025
Kenya
Market News

Kenya Launches $KDT Token on Solana Blockchain to Drive Digital Inclusion

by Kelly Cromley
Jul 14, 2025
imagen network
Market News

Imagen Integrates XRP for Faster Web3 Social Transactions

by Kelly Cromley
Jul 13, 2025
endless partners with rei network
Market News

Endless and REI Network Join Forces to Simplify Web3 Development

by Kelly Cromley
Jul 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree