Magicats Launch Development Update
We’re happy to announce the final development update regarding our upcoming NFT series Magicats! Our previous development update included NFT royalties for xBOO holders, the 150 FTM mint price, and emphasized a fair launch with no premint, presale, or auctions. The SpookySwap team has been very steadily releasing new assets for our generative NFT series, as well as launched the Magicats summinting page, and this development update serves to both build excitement for SpookySwap’s commitment to becoming the #1 DeFi hub and as a call for NFT collectors to be excited for the Magicats launch.
What are Magicats?
Our lead artist has created unique NFT assets to be released as a limited generative series. Our new NFT series, Magicats, will mint 5000 generative NFTs utilizing over 125 unique art assets. The increase in the number of unique art assets compared to existing popular generative NFT series ensures that SpookySwap’s Magicats will be even more unique and less visually repetitive than competing NFTs. Additionally, each NFT will have a unique name and description generated to give more identity and world-building to each Magicat. The Magicats series will also feature thirteen 1 of 1 NFTs in the set of 5000. Because of this, a majority of art asset combinations will never be seen or minted.
Our first announcement for this article is that the official Magicats marketplace on Fantom Opera will be hosted by PaintSwap. PaintSwap combines an open NFT marketplace with a decentralized exchange (DEX) on the ever-growing Fantom Opera Network. While the series will also be supported by Artion, expect to see Magicats included on the PaintSwap collections page shortly after launch.
NFT Royalties and xBOO Rewards
Each NFT will include a 5% royalty. Half of the 5% royalty will automatically buyback BOO and distribute to xBOO on every sale which was determined by governance voting. The current wFTM pool is ending in 6 days from this announcement. We are announcing here for the first time that the existing wFTM pool will be extended for an additional 60 days. xBOO will not need to be re-staked in order to continue earning wFTM. Additionally, 20% of the mint price will also go to increasing the APR for earning wFTM with staked xBOO over the next 30 days by as much as 50%!
Magicats Launch Date
We’re happy to announce that Magicats minting will officially go live 29 October, 0100 UTC! Magicat NFTs can be summinted (our term for minting an NFT) for 100 FTM, which is lower than our previously announced price of 150. If FTM continues this exponential growth, we may reconsider our list price before launch. Magicats will have no presale or premints, with an emphasis on a fair launch. All 1 of 1s will be mintable upon launch and will not be released as part of any auction or promotion. Minting will be possible through our SpookySwap NFT page once Magicats is live.
Before launch we will be providing the provenance hash, which is proof of the randomized mapping of each NFT asset. Our commitment to the integrity of the NFT mint is modeled after Bored Ape Yacht Club. This enables NFT collectors to independently verify that the minting order was not manipulated. Each Magicats image is first hashed using the SHA-256 algorithm. A combined string is obtained by combining the SHA-256 of each Magicats image in a set layer order. The final proof is obtained by SHA-256 hashing this combined string. This hash of the combined string is the final provenance record stored on the smart contract. Our website will have a provenance hash page which will enable our community to review all relevant information related to minting order.
Magicats Launch Party
To celebrate the launch of our generative NFT series, expect several giveaways and new information in our Discord during Magicat’s Launch. Our development team will be actively participating in the Magicats-NFT channel of the SpookySwap Discord, and we will be giving away SpookySwap emoji NFTs during the launch. We look forward to our community members sharing their freshly minted Magicats and seeing which lucky summinters summon a 1 of 1 NFT!
Magicats Free Mint NFTDrop
To reward our community members who have already begun collecting our NFTs on ZOO, a free Magicats mint will be given to holders of SpookySwap site asset NFTs available on the ZooCoin marketplace based on a snapshot taken earlier today. The addresses holding SpookySwap site asset NFTs as of 25 October 2000 UTC, block 1635192000, are eligible to mint a single Magicat for zero FTM for each site asset NFT the address is holding. The free-mint will expire 48 hours after launch, 31 October 0100 UTC, block 1635642000, at which point the reserved NFTs will become summintable.
Future Magicats Utility
We’re excited to also announce that Magicats NFT assets will support future utility planned in a later SpookySwap site update coming Q1 2022. More information will be teased in our Discord’s Magicats-NFT channel during the Magicats launch.
We are committed to making SpookySwap the #1 DeFi hub, and welcome any feedback or suggestions in our community Discord and Telegram groups. Our Discord has a dedicated channel for discussing Magicats NFTs. We look forward to having even more NFTs available for launch on our exciting new PaintSwap platform. Who is your inner Magicat?