Non-Fungible Tokens (NFTs) are the latest class of assets in the crypto world. These tokens share almost all the inherent characteristics of a cryptocurrency except for fungibility, meaning each NFT is distinct from another. Due to their unique nature, NFTs are gaining prominence as assets with virtually unlimited value and are considered the next big thing in the DeFi revolution.
As NFTs gain collectibles status, LiL Moon Rockets has introduced a digital vector pop-art NFT collection which is now available for purchase on their platform. Built and stored on Binance Smart Chain, the NFT collection will consist of no more than 13337 art pieces, which will be revealed only after the ongoing 3-week initial acquisition phase ends. Thus far, Lil Moon Rockets have sold over 8350 NFTs, as per Bscan.
What are LiL Moon Rockets Artworks?
Each of the LiL Moon Rocket NFT represents one of the 13337 scalable digital vector images curated from a pool of 272,160,000 potential combinations. They will all differ from each other in terms of color, color scheme, pattern, size of the patterns, and other additional visual attributes, with some combinations rarer than others.
Anyone purchasing an NFT during the initial acquisition phase will become eligible to receive artwork, but which one is something that everyone will get to know only at the time of the big “reveal.” The reveal will happen once the acquisition phase completes three weeks or all the 13337 NFTs are sold, whichever is earlier.
Once the artwork is revealed, and the owner of the NFT is in possession of it, they can choose to save it, print it, or trade it.
NFTs are known for their uniqueness, and some rare NFTs could potentially be worth a lot. In the absence of blind distribution, anyone privy to the project or the owners can decide to purchase those tokens for themselves. To prevent such a thing from happening and in the spirit of complete transparency, LiL Moon Rockets is relying on a smart contract to generate the allotment formula using an on-chain random entropy mechanism.
After the reveal, all Lil Moon Rocket NFT holders will discover which artwork they have purchased. In the event where the initial acquisition phase fails to sell all the NFTs, users can continue purchasing the NFTs, but the associated artwork will not be private anymore.
Apart from the NFTs, LiL Moon Rockets also have a Name Your Rocket (NYR) token, which is rewarded for holding the NFT. Users can accumulate these NYR tokens daily, and once the number reaches 1337, they will be able to burn them to change their artwork’s name.