With the first public offering of the native token for the LunArt Protocol launching is just 2 days on Valkyrie Protocol, let’s do a deep dive into what $ARTS token is, its purpose and why you would consider adding it to your portfolio.
Why a token, isn’t LunArt an NFT project?
As soon as the 333rd LunArt genesis NFT was minted, the team started leveraging the success of the collection to turn their attention towards building out their true vision, a community driven, NFT Protocol & Artist Launchpad. The goal was to continue to add value to NFT holders, while building out a fully-featured protocol, putting the art and the artists at the forefront.
Tapping into the teams network of gallery-featured, real-world artists, LunArt.io will introduce these artists to the blockchain for the very first time, offering programable options into every NFT that the canvas simply cannot compete with.
Beyond this, the protocol will feature a first of its kind NFT staking system, putting the community in the drivers seat to create new art, commissioning their favourite artists. Couple this with NFT LP bonds, the Refer an Artist program, programable real-world prints with parter Hybrid, Metaverse integration and interactive artist profiles; and LunArt will be a NFT Art destination like no other.
The driving force behind all of this will be the deflationary, $ARTS token.
So what does $ARTS do?
More than just a JPEG — More than just a token
LunArt is known for being “more than just a JPEG”. It’s safe to say that the LunArt $ARTS token will be more than just a token.
The LunArt team is committed to bringing value to every $ARTS token holder. Made up of cryptocurrency veterans, the team have applied their experience to drive demand for the token and encourage long-term holding, through utilisation of the token on the protocol and multiple deflationary mechanisms built in.
LP will be locked into NFT’s adding more value for the art, while creating a floor of tokens that cannot be sold, or removed from liquidity.
Key Features of $ARTS
NFT Staking
(NFT + Token = NFT + NFT) Create new art, burn $ARTS using “The Bakery”
Revenue Sharing
Stake $ARTS to share in the protocol sales and royalties
Referral Program
Introduce a new artist to LunArt, if they are listed, you share in the royalties
LP NFT Bonds — Locked $ARTS
Initial $ARTS liquidity will be permanently minted using NFT LP Bonds in the upcoming LunArt Julia Collection — Rug-proof LP!
Reward System
3 Tier access system, hold/stake for early access, increased voting rights, whitelists, airdrops, guaranteed bakery slots
Provide Liquidity
Users will earn $ARTS as a reward for providing liquidity on LunArt Protocol and LOOP Dex
Buyback & Burn
Sales, auctions, commissioned works and minting burns $ARTS reducing pressure on the token price
Charity Support
Protocol transactions using $ARTS provide ongoing charity support, with our partner Angel Protocol
How do I get my hands on some $ARTS?
The very first of a series of opportunities to join the LunArt community and participate in the initial offering of $ARTS is taking place on Valkyrie Protocol in just 2 days. Check out the medium article on how to participate.
For more information on what the LunArt team is building, check out LunArt.io, join Twitter, join the Discord channel or have a read of this medium article going into more detail on what is in the works.
