Torum, a crypto based social media, committed to becoming the key adoption bridge between the Crypto world and the general populace has come out with first of it's kind in the Cryptospace, Initial Staking NFT Offering (ISNO). This comprised of 363 NFTs of different rarity levels.
NFT
NFT is an acronym for Non Fungible Token which are unique and cannot be interchanged. This can be anything like music, artworks or paintings, in-game items, texts, tweets which can be bought and sold in the digital marketplace.
How NFT works
As we know, digital files can be duplicated but with NFTs, these artworks can be tokenized to create an immutable digital certificate of ownership that can be exchanged with records stored on a blockchain making it “unduplicatable”.
NFTs are worth quite much and may likely be the bridge that brings more people into cryptocurrency and blockchain adoption. Twitter CEO, Jack Dorsey sold his first tweet on twitter at a price of about 2.5 million dollars, Nyan cat animated gif sold for over 500,000 dollars while the current record of 69 million dollars was set by Christie's sale of artist Beeple as NFT.
Torum NFT
Torum ISNO is putting up for sale 363 NFTs with DeFi staking innovation. These 363 NFTs are tiered into 5 categories, representing the rise of Torum in the Cryptospace. The ISNO will start on the 10th of May, 2021 with tokens issued/locked in these NFTs standing at 1,750,000 XTM, representing 0.175% of the maximum supply of XTM.
Each of these artworks comes with a permanent staking multiplier effect that increases the holders of these NFTs liquidity Farming rewards. Torum Finance, the DeFi platform of Torum will be the platform to stake these NFTs. With any of the ISNO NFTs, owners have an advantage over farmers without any as the NFT will be used to multiply their liquidity provider stake as shown in the table below.
How to Participate in Torum ISNO
To participate, you'll need a MetaMask wallet, configured on Binance Smart Chain network.
2. After configuration to BSC, copy the configured MetaMask address and deposit BEP-20 BNB to the wallet. Please, avoid depositing BEP-2 BNB;
3. Proceed to defi.torum.com and make sure your browser have MetaMask wallet;
4. Click 'Connect’and select “MetaMask” and proceed;
5. You can then choose any of the NFT tiers and click on “Buy”, confirm your purchase, set the gas fee and confirm your transaction. Once your purchase is successful, your ISNO NFT is in your wallet.
To view your ISNO NFT in your wallet, copy the contract address of your NFT, open MetaMask and click on “Add token”, select “Custom token” and paste your contract address. You will be able to see the number(s) of NFT purchased in your MetaMask wallet.
If you are interested in burning/ converting your ISNO NFT into XTM, click on the “units owned” text at the bottom of your purchased NFT and choose the “Burn” option, check the token amount to be received and confirm to proceed.
You can then set your gas fee and confirm your transaction. Upon confirmation, your XTM token will be in your wallet.
About Torum
Torum is a revolutionary, Crypto based social media platform that is poised to bring Cryptocurrency adoption to millions worldwide. The platform currently boasts of over 32,000 community members from all over the world that daily interacts in the forum. Daily, the site records over 100 new members joining this forum. With Alexa ranking in the top 50,000 and moving upward daily, Torum is set to becoming the key adoption bridge between the Crypto world and the general public.
Torum is also the first NFT infused social media platform. I’m sure you will be interested in joining this Forum and here’s my invitation link for you. We both get to share 70 XTM tokens equally after you’ve verified your email address.
https://www.torum.com/signup?referral_code=wumeepope
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