Denizen Launches Provably Fair and Refundable NFT Collection

2 years ago 125

Dover, Delaware, 15th April, 2022, Chainwire

Denizen launches a non-fungible token (NFT) collection of astronaut-themed designer toys. The collection will entitle holders to guaranteed full refunds for up to 30 days after reveal. The guarantee is permanently programmed into the NFT smart contract itself and cannot be changed by the team.

The market has been eager to see a paradigm shift in the current NFT market, where it is still plagued by rug pulls, cash grabs, speculation and short-term profit-taking. The market has been calling for more accountability and fairness to allow NFT projects to transform into a long-term sustainable model that can reach mainstream adoption. Denizen aims to pioneer that front, making the NFT space a more friendly place.

Provably Fair Mechanism

Denizen has lived up to this vision of making a change in the NFT market by introducing its provably fair distribution mechanism. During reveal, NFTs will be allocated to owners using Chainlink Verifiable Random Function (VRF) in a provably random manner that cannot be manipulated or predicted by anyone, including miners and founders. This feature prevents miners or founders from acquiring rare NFTs before they are reveal.ed

In addition, Denizen will host all metadata on the InterPlanetary File System (IPFS). Unlike most NFT collections that serve metadata over a centralized Application Programming Interface (API), the collection will be censorship resistant and immune to server shutdowns.

Guaranteed Full Refunds

The Denizen NFT contract will include a refund function that will allow any holder to claim full refunds for up to 30 days after reveal. For example, an NFT that was minted during the whitelist sale will be eligible for refund at the whitelist mint price of 0.08 ETH, whereas an NFT minted during the public sale will be eligible for a refund at the public mint price of 0.1 ETH.

The contract also prevents the founding team from withdrawing not more than 50% of funds raised before the 30-days refund period is up. This will allow the contract to maintain adequate reserves for the refund period.

The Roadmap

Genesis: Join our Discord to learn more about our whitelist benefits, whitelist criteria, and public mint details.

Stone Age: NFT reveal will be conducted 1 day after public mint using Chainlink Verifiable Random Function (VRF) for provable fairness. Holders are entitled to refund their Denizen NFTs at mint price for 30 days after reveal.

Bronze Age: Owning a Denizen will give users access to the Denizen platform, a browser-based metaverse platform where they can showcase their collection and mingle with our community.

Iron Age: Denizen aims to be a creative canvas for international artists and brands. We would like to collaborate with artists and launch a Denizen x Artists collection under their artistic direction.

About Denizen

Denizen is a designer toy collection of 9,999 unique NFTs on the Ethereum blockchain. Every Denizen is a fully three-dimensional interactive avatar that is ready made for the metaverse. Designed by crypto natives, Denizen pays homage to crypto culture with not-so-subtle reference to memes of the crypto community.

Official Website: https://denizen.io

Discord Community: https://discord.gg/denizen

Twitter Announcements: https://twitter.com/denizenio