If you have any NFT you can give it a unique name by spending 365 RNM tokens, thanks to NFTR – Decentralized NFT Name Registry.
Curated NFT Project holders can claim 365 free dRNM tokens just for being owners of blue chip NFTs, and start accumulating RNM after their NFT is named. You don’t need to own an NFT in our special list to be able to name it. Any ERC-721 token can be named.
However, the platform will feature a curated projects list, starting with OG NFT project, CryptoPunks. Owners of an NFT from a curated project will receive 365 dropped RNM (dRNM) to use per NFT name.
Blue chip NFT projects will be curated each month through a selection process by the Nifter DAO. These projects will have the opportunity to participate in RNM “Hold Farming” and free dRNM drops. There will also be a Curation Competition where projects with the most named NFTs will compete for additional spots in the curated list.
A name selection from a list of 1,000 of the most desirable names will require the purchase and use of a Golden Ticket.
A Golden Ticket presale event will precede the full launch of the protocol, purchasable with ETH. Tickets will be minted and burned on a bonding curve. 90% of the Golden Ticket cost will be reserved by the protocol as instant Golden Ticket exit liquidity for Golden Ticket sellers. 10% will be collected by the Golden Ticket contract and allocated to NFTR Protocol as a mint fee.
The ETH collected from the Golden Ticket bonding curve will be used to provide liquidity to the RNM-ETH pool, to buy back RNM, and to fund NFTR Treasury initiatives. The RNM buybacks will be provided to the trading pair as liquidity as needed, or otherwise burned, reducing supply, thus causing a positive price impact.