NFTs (Non-Fungible Tokens)
Last updated
Last updated
In Project Merlin, Non-Fungible Tokens (NFTs) play a significant role in recognizing and distinguishing users' contributions within the platform.
As an innovative DAO and crowdfunding platform based on blockchain, Project Merlin leverages NFT technology to encourage active user participation and democratic interactions on the platform. The platform offers three main types of NFTs: Project Merlin Community NFTs, Editor NFTs, and Senator NFTs. This document explains the definition, purposes, use cases, and integration of these NFTs on the platform.
Project Merlin DAO is a platform where 8 different proposals are selected and supported each month across four distinct categories. Within the Project Merlin community, there are 70 Senators and 60 Editors assigned to each of these categories. These roles are defined through Senator and Editor NFTs, which need to be renewed every quarter. These privileged roles come with responsibilities and offer exclusive and generous rewards through the Vote 2 Earn (V2E) mechanism.
The Community Member NFT is a permanent NFT required to be part of the community. Holders of the Community Member NFT are rewarded by the V2E mechanism for fulfilling their responsibilities.
Definition and Purpose: Project Merlin Community NFTs represent the basic community membership of the platform. These NFTs enable users to participate in voting, earn rewards, and access fundamental interactions on the platform.
Use and Features:
Community NFT owners are the platform's basic participants and can take part in voting processes. Additionally, these NFTs provide users with access to some basic advantages and opportunities offered on the platform.
These NFTs are not limited in number and can be minted by users upon purchase, offered in designs of six various characters.
Definition and Purpose: Editor NFTs allow users to gain editing and evaluation rights over the content on the platform. These NFTs grant the authority to evaluate and direct specific projects and proposals.
Use and Features:
A limited number of Editor NFTs exist for each category (60 pieces). Editor NFT holders are responsible for directing the quality of content and projects on the platform.
Editor NFTs are valid for three-month periods and lose their features at the end of the term. They must be renewed and repurchased for a new term.
Definition and Purpose: Senator NFTs enable users to have a greater impact on the platform's proposals and projects. These NFTs play a critical role in the initial evaluation stages of projects and significantly influence the platform's strategic direction.
Use and Features:
A limited number of Senator NFTs exist for each category (70 pieces). Senator NFT holders play a significant role in the evaluation process of proposals and projects.
Senator NFTs are also valid for three-month periods and must be renewed at the end of the term.
Project Merlin introduces Sponsorship NFTs as a unique method of providing financial support to the platform's proposals and projects. These NFTs allow users or companies to mint their brands, logos, or visuals as NFTs, appearing as sponsors for specific projects.
Minting and Contribution:
The minting fee for Sponsorship NFTs is set at 1,000 USDT worth of Merlin Token. This provides direct financial contribution to the project while increasing the sponsor's visibility on the platform.
Minted Sponsorship NFTs can be stamped on a specific proposal once, contributing 90% of the total fund amount to the proposal. This supports greater financial access for proposals while allowing sponsors to interact with projects and gain visibility.
