Fair.xyz launches “Minter Tokens”, the world’s first NFT technology that proves you were there at the start

Fair.xyz, an end-to-end, no-code NFT launch platform, has developed a cutting-edge piece of NFT technology, in partnership with OpenSea, which they have dubbed “The Minter Token”. The new token allows collectors to cryptographically prove that they have minted a specific NFT, even if they have since sold it, giving them both credit for helping to build the community as well as allowing them to participate in token-gated community events. The launch comes shortly after Fair.xyz announced its $4.5 million funding round and reached more than 50,000 people on their waiting list.

The problem: There is no clear and easy way to show you the character of an NFT.

Today, with enough money, anyone can easily buy into the most iconic, desirable, and, by proxy, expensive NFT collections (Bored Ape Yacht Club, Crypto Punks, Women of the World, etc.). But before their hyper-notoriety, most famous NFT collections came with far smaller price tags and completely anonymous cultural status.

For example, in 2017, when the then-unknown ‘Crypto Punks’ collection first launched, each punk was free to create and would only cost you gas fees. Today, you’d have to shell out at least $143,000 to buy the cheapest one currently for sale.

So for those NFT collectors who characterized a collection before the hype, before the cult status, before the price tag; when the collection was purely about the art, or the community, or supporting the artist – how could they easily prove to the rest of the Web3 community that they were there first?

And more, once you’ve sold your NFT, what do you have that binds you back to that community? Even when you may have helped build it to what it is today?

The Solution: Fair.xyz and OpenSea Create “Minter Token”

Forged by the team at Fair.xyz with their priority blockchain technology, while working closely with the experience and pedigree that comes from OpenSea, they have built ‘The Minter Token’ – a first of its kind Soul-Bound Token, which cryptographically proves that a The wallet owner has minted an NFT, even if the NFT has long since been sold or transferred.

Each ‘Minter Token’ is generated automatically, completely free of charge (ex. gas taxes). Each token will combine both a smart contract and 3D generative art, depicting the NFT that was minted.

As each Minter token is a Soul Bound Token (SBT), meaning that once minted, it cannot be transferred, sold or traded – the token will forever remain in the user’s wallet to be indisputable proof that they was the original coiner for it. NFT.

And because of this “non-tradable” nature of Minter Tokens, it means that this NFT class is less about “flipping”, the returns or profits – it’s more about certification, a nod to the innovators, community builders and superfans who were there first. Isaac Kamlish, co-founder of Fair.xyz explains,

“We know every NFT platform says this, but we’re really about community first. That’s why we felt strongly that in order to establish our values ​​as a company and introduce ourselves to the Web3 community, we wanted to build something for all of Web3 -community.”

In addition, Minter Tokens can also help creators create other gated experiences and rewards for community members who no longer own their NFT but still want to be a part of that community. It unlocks a whole new set of experiences and utility for creators to leverage and give back to their community.

How to claim the “Minter Token”.

Creating your own “Minter Token” is incredibly easy and will take less than a minute to do. Just go to minter.fair.xyz, connect your Ethereum-based wallet, and Fair.xyz will automatically display all the NFTs you’ve ever made. Once selected, Fair.xyz will generate the 3D rendered artwork for your NFT and allow you to emboss it as a 1-of-1 artwork on the custom-built smart contract. That’s it!

The Future: Every newly minted NFT will get a “Minter Token”

The Minter token will have the potential to be the next evolution of the NFT culture, meaning that from now on anyone who creates an NFT will not only get the NFT itself, but also the ‘Minter Token’, a proof to say that you were an original minter. So even if you’ve bagged the next Bored Ape and the rocketing floor is too tempting to resist the sale – you’ll always have the Minter Token as a community token.

OpenSea hopes that the “Minter Token” represents a key step forward towards increasing the usefulness of NFT technology to an ever-growing audience. Right now the Minter Token will appeal to the native NFT community, but down the line the ‘Minter Token’ could be the proof to show past ownership of a house, a piece of physical art or shares in a company.

And it will be established companies like OpenSea, partnering with next-generation innovative startups like Fair.xyz, that will usher in the seamless and robust infrastructure for the Web3 evolution to accelerate.

follow @fair.xyz and @open sea on twitter to stay up to date with the latest news and announcements.

Get your own Minter Token by visiting https://minter.fair.xyz/

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About Fair.xyz

Fair.xyz was founded in 2022 to create more efficient and fairer NFT launches. Created by engineers from Meta and Goldman Sachs, the company’s first project was to help the Ukrainian government launch an NFT fundraiser to raise funds for the war. The company’s no-code, gas-war-free platform is already helping creators launch their collections. The company is backed by leading web3 and technology investors including Eden Block, OpenSea, NFX, First Minute Capital and others. Learn more at Fair.xyz.

About OpenSea

OpenSea is the world’s leading peer-to-peer marketplace for NFTs. We are on a mission to help the world’s creators, collectors and collaborators own and shape their relationships directly. We’re building the world’s most trusted and inclusive NFT marketplace with the best selection – making minting, buying and selling NFTs frictionless and friendly, offering unmatched selection and multichain options for creators and collectors of all kinds. Headquartered in New York, the OpenSea leadership team comes from Google, Palantir, Lyft, Uber, Stanford and Berkeley. Investors include a16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation and Blockchain Capital.