Blockchain technology continues to grow at an impressive rate and steadily creeps towards mass adoption, with the number of projects increasing by the day. This disruptive technology, whilst still young has proven to be diverse, a factor that has led to the development of numerous projects.
Currently, projects that incorporate several components of the technology have stood out as they create practical, healthy, and functional ecosystems for their users. One such project is the Prime Numbers DAO which has launched an NFT project incorporated with a game as utility for the NFTs.
What is ‘Prime Numbers’?
Prime Numbers is a proactive social DAO that runs an NFT project to support and offer scholarships to students in need and is currently working on integrating a game into their already robust ecosystem. The NFT project consists of only ‘15 handmade’ art NFTs and 4096 generative art NFTs all of which are minted in order of prime numbers.
The generative art NFTs can only be minted once and contain up to eight different attributes making each unique. Additionally, as the value of the NFTs increases with rarity and number of NFTs minted. This ensures that the project is successful in the long run and incentivizes collectors and traders to jump into the project early on. This and the fact that the project is driven by a social cause sets the project apart from numerous other ecosystems.
Notably, the Prime Numbers project is the first of its kind on the XDC Network – it is the first DAO, the first NFT project, and the first GameFi project on the Network. The XDC Network was a great choice as it is highly scalable, offers fast transaction speeds and relatively low transaction costs.
Why Prime Numbers stands out
Prime Numbers has demonstrated an innovative, social and sound approach, especially on the NFT project and utility for the NFTs. With a noble social aspect, committed team, and a creative/practical approach, the project looks quite promising.
Recently, the project has expanded to the Binance Smart Chain and Ethereum Networks, a move that will work to their advantage and attract more users to the platform. This expansion will enable the project to offer Liquidity Provider rewards facilitated by the bridge between XDC-BSC-ETH.
The Prime Numbers ecosystem is fueled by their native $PRNT token that can be used for various uses with the major use cases being staking, as a governance token in the Prime Numbers DAO, and as an in-game token.
As a socially driven project, Prime Numbers is dedicated to achieving its primary goal of funding students. Therefore, when an NFT is sold, 30% of the revenue goes directly to the student fund, 30% to a development fund, 35% to reward $PRNT token holders, while the remaining 5% is allocated to the team. This breakdown ensures that the project achieves its primary objectives whilst still enabling the ecosystem to develop and grow at a healthy pace.
Prime Numbers have come up with a revolutionary and innovative staking model that allows users to earn various rewards such as royalties from the sale of NFTs and in-game rewards. This model involves staking PRNT tokens inside your NFT adding intrinsic value to the NFT. These staked tokens can be sold together with the NFT on any supported marketplace.
Redeeming the tokens from the NFT is permanent and destroys the NFT in the process, this ensures that the NFT grows or maintains its value. The more the amount of PRNT staked in an NFT the more valuable it becomes (levels up). To regulate this action, the project has ensured that there is a maximum cap on the amount of PRNT you can stake in a single day.
Looking Forward
From their roadmap, the project has managed to keep and make project developments and releases as promised, a culture that goes to show the dedication and commitment of the Prime Numbers DAO. This and their innovative all-round model sets them apart from other projects in the space. Having only launched a few components of their ecosystem and gained significant traction demonstrates just how much potential the project has.
To learn more about the project, check out the links below.
Website: https://www.primenumbers.es/
Medium: https://medium.com/@PrimeNumbersFi
Telegram: https://t.me/PrimeNumbersFi
Discord: https://discord.com/invite/GSgkEbZyd2
Source: https://crypto.news/prime-numbers-an-all-round-ecosystem-with-a-dao-nft-project-and-game/