Denizen has launched a nonfungible token (NFT) collection of astronaut-themed designer toys. The collection will entitle holders to guaranteed full refunds for up to 30 days after the 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 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.
A provably fair mechanism
Denizen has lived up to its vision of making a change in the NFT market by introducing a provably fair distribution mechanism. During a reveal, NFTs will be allocated to owners using Chainlink Verifiable Random Function (VRF), which cannot be manipulated or predicted by anyone. This feature prevents miners or founders from acquiring rare NFTs before they are revealed.
In addition, Denizen will host all metadata on the InterPlanetary File System. Unlike most NFT collections that serve metadata over a centralized 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 the reveal. For example, an NFT that was minted during the whitelist sale will be eligible for a refund at the whitelist mint price of 0.08 Ether (ETH), whereas an NFT minted during the public sale will be eligible for a refund at a public mint price of 0.1 ETH.
The contract also prevents the founding team from withdrawing 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.
- Genesis: Join Denizen’s Discord to learn more about its whitelist benefits, whitelist criteria and public mint details.
- Stone Age: An NFT reveal will be conducted one day after public mint using Chainlink VRF for provable fairness. Holders are entitled to refund their Denizen NFTs at a mint price for 30 days after the 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 the community.
- Iron Age: Denizen aims to be a creative canvas for international artists and brands. The platform would like to collaborate with artists and launch a “Denizen-x-Artists” collection under its artistic direction.
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 a not-so-subtle reference to memes of the crypto community.