The BakerySwap platform, which is at the forefront of NFTs on the Binance Smart Chain (BSC), has announced a new range of non-fungible tokens called Rare Car Collection. The supporting token $CAR will be made available on the Bakery Launchpad (IDO) on May 5th.
Collectible Car NFT Release
The announcement of the car collection comes as BakerySwap seeks to cement its position as one of the go-to platforms for DeFi and NFTs. Both sectors are still enjoying a hugely successful period, despite a recent slowdown in the NFT market. The car collection on BakerySwap has been designed as a celebration of the growth of $BAKE, $BNB and the BSC ecosystem, with all the branding on the cars designed to reflect this association.
Read more: Current State of the NFT Boom Cycle
Most importantly, $CAR will support a strong deflationary token model, combine it with staking rewards, and also offer the possibility of winning a real-world car with three to be won. The process works as follows: $CAR tokens can be converted into a blind box NFT. Each box contains a car design, but three will also confer the rights to a real-world vehicle.
In the Car Collection IDO BakerySwap will issue 1,000 $CAR tokens.
IDO amount: 800 $CAR
Price: 2 $BNB
Hard cap: 1600 $BNB
Single address limit: 20 $BNB
No minimum: Users can buy fractions of $CAR
Launch: 6:00 AM UTC on May 5th.
How to Use $CAR
The $CAR tokens will be usable in a number of ways including trading, liquidity farming and staking for $BAKE. $CAR tokens can also be minted for blind box NFTs. NFTs can also be staked. Some NFT boxes will open artworks, but three will open the rights to a real physical car. Those winning vehicles will be branded with BakerySwap and Binance logos.
For more details on participation read: Introducing $CAR IDO — Blind Boxes of BAKE&BNB Co-branded Rare Car
BakerySwap is a Decentralized Finance (DeFi) platform that combines Automated Market Maker elements and NFT capabilities on the BSC. Their Bakery Gallery is positioning itself to be a premier launchpad for NFT artists and creators, with the team constantly working to improve their products.
Source : bsc.news
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