Greetings to all the Genesis NFT Holders. 👋

We’re glad to confirm the staking snapshot for qualified users to receive the Genesis NFT was completed on the 20th — with a 6 day grace period from the initially communicated timeframe. The Launchpad Genesis NFT was conceived in an effort to reward the most trusted DevvE Staking community with something really cool and exclusive. You can log into the launchpad to claim your NFT for distribution that will happen in the near future.

The result was 378 Launchpad Genesis Founders!

We will be minting a nice round Max Supply of 400 NFTs, with the remaining 22 to be used by The Forevver Association in future marketing efforts during our upcoming expansion phase. We will be minting these tokens on the DevvX main net and they will be available to trade on Glassblock.io once claimed.

It’s important to understand that trading Genesis NFTs will NOT transfer token utility in the short term. This will be clearer upon reading this article to completion. Please make sure to thoroughly read this article before considering buying or selling a Genesis NFT

Initial NFT Utility

DevvDrop Distribution

Genesis NFT holders will have the right to 0.25% of all the unclaimed DevvDrop tokens that are unclaimed from the DevvDrop vesting period by un-staking DevvE.

Seed Round Access

Genesis NFT holders will qualify for future Seed Round access with projects who leverage DevvE Launchpad for this purpose. These will typically be locked to only Tier 5 and Genesis holders & subject to standard seed round guidelines.

Exchange Benefits

Launchpad Genesis NFT holders will also unlock a Platinum Tier Exchange Account. We envision this will offer the best discounts, referrals and incentives for traders compared to any other crypto exchange. Typically traders need to spend millions before receiving these types of benefits.

For reference, Binance’s VIP 9 status requires $4 billion USD in 30 day trading volume & 5,500 BNB in your exchange account and is only temporary while you maintain this frequency.

Voting Rights

Genesis NFT holders can participate in community based voting mechanisms for the launchpad and other potential applications we are exploring. Governance is a powerful mechanism in many DeFi protocols that we will be able to lean into.

Access to Private Forums

Access to exclusive forums is granted to holders

Additional Utility Over Time

Many of our efforts to build the DevvE Ecosystem have a strict line of compliance that we must carefully navigate before we allude to anything further than we know we can deliver on. However we are actively considering, without promising, additional functionality over time.

How to Claim

To claim your Genesis NFT, all you need to do is log into the DevvE Launchpad with your qualified account. At the top of the screen you will see a green button that says “Claim NFT”. Please click this button and provide us with your DevvX wallet address and your associated email. That’s all you need to do and you will receive your NFT after the mint.

If you haven’t yet made a DevvX wallet, you can do so at https://devvx.glassblock.io/login

Ethereum and DevvX

Our Launchpad is currently running on the Ethereum network, whereas the DevvExchange will operate on the DevvX mainnet from its launch. Having a single NFT that is compatible with both is a cumbersome process for functionality that would only be of temporary value. This situation presents a challenge for resource allocation and would add additional complexity. To address these challenges, we have devised a temporary solution:

Initially, all utilities will be linked to the Ethereum wallets that qualify for the NFTs. Trading the NFT will not transfer utility functions until a later time.

Once these utilities can be integrated on the DevvX mainnet, we will upgrade the NFTs to include them and will make the features redundant on Ethereum. Therefore, if you buy/sell a Genesis NFT you will transfer ownership of the upcoming Platinum Teir exchange account, but all other utilities will remain soulbound to the Ethereum wallets that qualify, until further notice.

For example, when the launchpad and DevvDrop becomes powered by DevvX smart contracts, the 0.25% token claim would then move to current NFT owners. If you choose to sell your NFT, you would still temporarily qualify for those tokens while operations remain on Ethereum, but will lose them afterwards.

Key Points to Note

1. Utility Lock-in: Utility will remain whitelisted to Ethereum accounts in the short term, regardless of NFT ownership on DevvX. Purchasing a Genesis NFT on Glassblock.io is akin to acquiring future utility, such as a Platinum Tier exchange account and an additional DevvDrop allocation.
2. Challenges: Many desired features require DevvX-native applications, while initial utility needs an ERC20 token. Developing these features on Ethereum now would result in unnecessary work, diverting focus from key value drivers in the ecosystem. Other utilities, like cost-price merchandise, also require integrations that could dilute our efforts.

The Genesis NFT initiative is a testament to our commitment to rewarding our most trusted DevvE Staking community members with exclusive benefits. With the staking snapshot complete and the Genesis NFTs set to be minted on the DevvX mainnet, we are excited to launch this phase of our ecosystem’s development.

Stay tuned for more updates as we progress on this exciting journey together!

The DevvE Team.

Source: https://medium.com/@DevveEcosystem/genesis-nft-update-943374d88160