MDEX launched its NFT mascot campaign on May 6th in a bid to offer exclusive opportunities to design enthusiasts and reignite artist passion for the trend. Let’s dive into that!
MDEX NFT Mascot Campaign
NFTs remain one of the most explosive blockchain trends ever. Over the past couple of weeks, the intense rush has raised mixed reactions as the trend changes values, but it seems NFTs in whatever form aren’t going away anytime soon.
In an attempt to ride the wave of interest, MDEX launched its NFT mascot campaign on May 6th. This campaign offers designers a chance to exhibit their designs in exchange for handsome rewards. Following the recent explosive NFT sale made by Beeple on Christie’s, artists crave opportunities to display their creative talents in the blockchain industry and this competition will motivate their innovations.
The total reward for this campaign is $10,000, which is distributed into sections:
- The Referral Pool- $1000
There are juicy rewards available for referring a skilled designer to the comp. If the referred designer makes it to the finals, the initial user gets a $100 referral reward.
- Finalist Prize Pool- $1000
Once a designer makes it to the top 10 shortlisted designers, they get $100. This is regardless of whether they win or not.
- Voting Reward Pool- $4000
This pool is trimmed down to the top 3 entries. The voting process is unique in that each will have separate addresses where voters will deposit any amount of $MDEX. The designer with the highest $MDEX will emerge as the winner.
- Winner Pool – $4,000 and More!
The winner will get $4000 from MDEX and also have his/her design put up for auction on MDEX, and other NFT official platforms.
This event is slated to round off on May 13th.
Troubling NFT Trend
The rapid expansion of NFT into various digital works has caused a buzz, although the initial hype which characterized the NFT marketplace seems to have faded as the trend evolves. Less focus is being placed on the creativity of the asset, with almost anything being turned into NFTs at this point. No one would have thought that a Tweet could pass off as NFT a couple of months ago. Yet, the oft-written-about Twitter CEO Jack Dorsey has apparently changed the narrative.
Tweeted March 21, 2006, the Tweet has garnered massive attention this past week. This attention has nothing to do with the content, however; it has more to do with the apparent value it suddenly amassed after Dorsey auctioned this tweet as an NFT via Variables platform. While this NFT might seem frivolous, the CEO of Binance bought into the idea and auctioned one of his aging Tweets as well.
The novelty of NFTs has formed the roadmap of several projects recently. However, the recent trend of transforming random assets into NFTs could cause devaluation. If the value of NFT is in its rarity and uniqueness, applying the same concepts to previously worthless public assets seems detrimental to their standing. However, MDEX is moving in the right direction by encouraging quality new digital art with their competition. NFTs will continue to see increased speculation, but their final landing destination depends on projects like MDEX that encourage innovation over easy production.
Source : bsc.news
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