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1. What is Plutocats?
1.1. What is Plutocats?
Plutocats represent a collection of Pixel art-style PFP (Profile Picture) NFTs, characterized by their high degree of innovation and stored entirely on the blockchain. These NFTs are made available for purchase through continuous auctions, where the price of each NFT fluctuates based on daily demand. The minimum price for each NFT is determined by the ratio of ETH holdings in the Treasury to the number of NFTs currently in circulation.
When users create NFTs, the ETH earned from NFT sales is reserved in the Treasury on the Blast network, where it generates profits. Additionally, this reserve functions as a liquidity pool to facilitate easy withdrawals from the ecosystem.
Individuals who purchase Plutocats NFTs can 'exit' at any time and retrieve their ETH based on their share in the reserve. These NFTs return to the reserve and are removed from the circulating supply.
1.2. Mission
Plutocats draws inspiration from the success of Nouns NFT and is founded by team members experienced in Nouns NFT. The project aims to support creators within the Blast ecosystem by utilizing profits from the reserve fund, known as social staking.
Plutocats is conducted in multiple phases. In Phase 1, anyone can mint an NFT and become part of the community.
2. Key metrics
- Supply: 271
- Max Supply: Infinite
- Current Price: 0.39 ETH
- Minting Link: Minting Link
- Marketplace Link: Marketplace Link
- Network: Blast
Similar to Nouns NFT, Plutocats NFTs will not have a fixed limit in quantity but will instead be determined by the demand from the community. As the demand increases, the prices of NFTs will also rise accordingly, based on auction mechanisms.
3. Team
The Plutocats team consists of two members who were previously involved in developing Nouns NFT, namely T Mobil and Wiz. However, detailed information about these co-founders has not been extensively disclosed.
However, Plutocats has clearly outlined how the Reserve Fund operates. Each member (who owns Plutocats NFTs) will receive a specific ERC-20 token, which will determine their voting power.
Decisions regarding proposals from the DAO and voting outcomes will dictate how the Fund in the Reserve is utilized. More detailed information will be disclosed at a later stage.
4. Plutocats NFT and Blast
Plutocats has emerged victorious among more than 3000 projects, securing a position within the top 47 winning projects in Blast's Big Bang Contest. This achievement holds considerable significance in shaping and advancing the project's ecosystem in the future.
Consequently, individuals holding NFTs may potentially receive Blast points from the project. Detailed information regarding this will be unveiled in the upcoming week.
5. Conclusion
Plutocats stands out as a noteworthy NFT project, injecting fresh vitality into the NFT market within the Blast ecosystem. With a Total Value Locked (TVL) exceeding 3 billion USD, it represents a substantial ecosystem with promising development prospects. The question of whether Plutocats can effectively leverage this momentum and expand further remains pivotal, necessitating time for a definitive answer. Stay updated with Theblock101 for insights and updates from the project.
