NFT Collectible Polkamon Sets New Standard with Layer 2 Utilization
The Polkamon team hopes to kickstart the NFT collectible space, and it will be interesting to see how the adventure unfolds.
Wondering what Polkamon is? Polkamons are the most beautiful, animated, digital collectibles, each having a different level of scarcity. Each Polkamon is backed by a unique non-fungible token and can also be unpacked using $PMON tokens.
Polkamon introduces 3D NFTs to the digital collectible space, allowing users to collect ultra-rare Digital Monsters. These rare collectible monsters can be integrated into various blockchain-based products.
Each Polkamon has a unique, rich set of metadata that describes the unique characteristics of each Polkamon. Polkamon are backed by non-fungible tokens and can also be integrated into Layer-2 applications. This allows individuals who own Polkamon to incorporate them into collections or blockchain-based games.
What Are the Unique Features of Polkamon?
- Staking: You can stake the $PMON token and Polkamon, receiving additional 4PMON rewards each time there is a $PMON and Polkamon swap.
- Cross-Chain: Polkamon are cross-chain and are available on multiple blockchains like Polkadot and Ethereum. The team also plans to connect other blockchains to Polkamon in the near future.
- Ultra-Rare NFTs: You can unpack $PMON tokens, which will reveal ultra-rare Polkamon. You can also swap NFTs for $PMON tokens.
- Hyper-Deflationary: Each time there is a swap and a reverse swap, a set number of $PMON tokens are burnt. This ensures continued scarcity of the NFTs.
- $PMON is a high-liquidity token: The $PMON token adds significant liquidity, providing a two-way mechanism where you can swap between the NFT and $PMON.
What Are the Unique Characteristics of Each Polkamon?
Each Polkamon that exists has different characteristics and different shapes. Some of the unique characteristics of Polkamon are:
- Colors: Polkaman come in different colors. Each color represents a different shade in the rainbow.
- Glitter: A glittering Polkamon is an extremely rare Polkamon. If you do discover one, consider yourself lucky.
- Horn: Each Polkamon possesses a horn that varies in rarity and in shape. Why does Polkamon possess the horn? That reason still has to be discovered.
- Ultra-Rare: Some Polkamon, like the Bitcoin Dragon, are extremely rare. These Polkamon are known as Ultra-Rare Polkamon.
Polkamon: How It Works and $PMON Token
As mentioned earlier, Polkamons are tokens that have different levels of rarity. Polkamon resembles creatures like dragons, horses, or birds. To get access to Polkamon, users need the $PMON token.
Each unpacking will burn a certain number of tokens, resulting in a constant increase in the value of the Polkamon. You can get additional rewards if you swap your $PMON tokens with Polkamon and vice versa.
There will be a total supply of 10 million tokens. The initial offer will comprise 1.8 million tokens, and each $PMON token will be priced at around $0.40. With such a competitive price, it is expected that the tokens will be sold in no time. The public sale price has been set at $0.35.
Since the project is cross-chain, it will be available on multiple blockchains. Initially, Polkamon will be available on the Polkadot and Ethereum blockchain, but the team does plan to connect other blockchains to the project.
The Polkamon ecosystem consists of three main layers. The base layer is the NFT based decentralized ownership system. This layer is supported by an ERC-20 token which improves liquidity and makes trade more accessible. The second layer is based on the base layer, and it enriches NFTs through rich visuals and detailed metadata. The third layer is the application layer. Proven ownership and visuals and metadata on this layer confirm ownership of the tokens.
There will be a total supply of 10 million $PMON tokens. The initial circulating supply of the token is 1.8 million. Let us take a look at how the team at Polkamon will be utilizing the funds.
- Total token supply: 10 million
- Initial circulating supply: 1.8 million.
- Public sale price: $0.35
- Listing Price: $0.40
- 20% of the tokens will be made available for the strategic sale at a price of $0.20
- 10% of the tokens allocated towards the foundational reserve will be locked for a period of one year, after that daily vesting over 365 days.
- 20% of the tokens will be allocated for marketing and business development—20% before listing, after which daily vesting over 365 days.
- 20% liquidity tokens: 20% before listing, after which daily vesting over 365 days.
- 10% of the tokens allocated towards the team will be locked for a year, after which daily vesting over 365 days.
The team at Polkamon hopes to kickstart the NFT collectible space, and it will be interesting to see how the adventure unfolds.
Polkamon has announced their upcoming IDO that will be conducted on Polkastarter soon. In this regard, they have begun whitelistinginterested investors to book a spot in the IDO.