Taal Coin (TAAL) to Integrate NFTs to Its DeFi x Charity Ecosystem
NFTs, or Non Fungible Tokens are a special kind of crypto currency characterized by its non-fungibility. Let’s explain first what fungibility is. My 20$ bill and your 20$ bill are interchangeable. They have the same value, and if we exchange our bills, we will still have the same value in our wallet. They are called fungible. On the other hand, two NFTs, even though they may look similar, may have different attributes and may never have the same value. This characteristics makes them suitable for use as proofs of ownership, collectibles, receipts, proofs of identity, etc.
We are planning to work with several illustrators and NFT artists to produce different collections of NFTs that will have dual roles in the TAAL ecosystem.
First, we will produce NFT collections to reward charity donors. The highest the amount, the rarer the NFT. For example, a 10 BUSD donation will grant you an NFT that exists in 1000 copies, whereas a 1000 BUSD donation will grant you an NFT that exists in 10 copies only.
Second, we will produce NFT collections for sale to investors to generate additional donations and boost TAAL price at the same time, with the following mechanism: Each NFT will be priced in BUSD and available on a popular NFT marketplace. Every sale will be split 30% for donations, 20% for the project funds and 50% for buy back and burning.
Our first collection will feature an imaginary character called Taal-Boy. He is a disaster responder illustrated in various situations. Each NFT card will be minted in 100 copies and each card will sell for 10 BUSD. The illustration above shows what Taal-Boy will look like. Stay tuned for more information on our NFT Collections!
