Mint an NFT in a new fashion! ShoeFy takes pride in being the first mover to introduce Minting an NFT layer by layer. A revolutionary concept in getting your first NFT by staking project tokens (initially $SHOE tokens) bundled with gamification for all the Novice and PROs.
A bit background on what ShoeFy sNFT is and we came up with this
ShoeFy brings DeFi level utility coupled with unique use cases for NFTs sitting idle.
At the core of this ecosystem are $SHOE tokens to stake, earn rewards and mint new NFTs, on another side it is also the currency interchangeable with Non Fungible tokens or NFTs providing the perfect liquidity balance like never before for NFTs also called sNFTs ($SHOE backed NFTs). Apart from this, $SHOE is also the currency of Metaverse, our upcoming Play 2 Earn game, and future prospects in the Shoeverse making it a perfect immersive metaverse we all desire.
Our Collection
sNFTs are a collection of hand-drawn programmatic and randomized on-chain NFT derived from elemental forces of earth derived from Fire, Water, Earth and Wind. These elements are represented by the characters Phoenix, Whale, Taurus and Pegasus respectively. The 10,000 elemental shoes are subdivided into the categories of Common, Unique, Rare, Epic, Legendary and Mythic (God, Devil, Alien) where, the more extreme details they have, the rarer they get.
Of these 10,000 sNFTs collections of (Shoe NFTs) only 3000 will be minted as Genesis collection of sNFTs. The remaining 7000 sNFTs shall be obtained by farming mechanism.
The sNFTs are categorized into Common, Unique, Rare, Epic, Legendary and Mythic, the final category “Mythic” is further classified into Mythic God, Devil, and Alien. So it makes a total of 8 separate categories.
Below shows the number of sNFTs in each category and their number of layers. To read further and understand the layer system check this: https://medium.com/@ShoeFy/snft-layer-fa19d27cc659
The gamification of Minting the remaining sNFTs make them scarce initially and less over time, generating high profits, passive income streams from Liquidity Farming and ultimately generating more sNFTs from staking $SHOE tokens with the Layer Farming simply put, over a certain time period, randomly generated layers on-chain, each of your sNFT layer will start to reveal wrt how long you stake $SHOE tokens.
Being a Genesis holder is what matters the most, as there won’t be another Genesis mint ever, limiting new entrants to either buy and Trade on secondary markets to reap these benefits.
There are 2 mechanisms with which you can mint more NFTs as a Genesis holder — General Farming & Rapid Farming -
General Farming
General Farming Mechanism works in the following ways:
- There will be 8 pools for the 8 categories.
- Each pool will require its own particular number of SHOE tokens to be staked.
- For example, to farm, a common NFT user will need to stake 2000 SHOE tokens and it will take 60 days to farm or get the complete sNFTs with all layers.
- Likewise, to farm a Mythic (Alien) sNFT, User will require to stake 35,000 SHOE tokens and the complete sNFT will be minted after 210 days.
- As the farming progresses, layer 1 is obtained in 15 days, layer 2 and 3 is obtained in the next 30 days and layer 4 and 5 in the next 45 days and subsequently the rest of the layers are minted in the interval of 30days each. In the UI we want to show the sNFT gradually evolving as more and more layers get assembled until we have a complete sNFT as a whole.
Rapid Farming
Farming Mechanism is the same as General farming, but the tokens required to stake and the duration are different. Only 3 categories are listed for Rapid farming.
- There will be 3 pools for 3 categories i.e, Common, Unique and Rare
- For example, to farm a common sNFT, the user need to stake 4000 SHOE tokens and all the layers 1–6 will be farmed within 20 days
- Likewise, in the rare sNFT minting pool User need to stake 16000 SHOE tokens and farm the whole NFT in 60 days
This is something the NFT community has been waiting for, and we are excited that the product is in the final stages of development and will be live with our upcoming Genesis NFT minting in March.
About ShoeFy
ShoeFy is an innovative decentralized platform that combines Non-Fungible Tokens (NFT) and Fungible Tokens (FT). It is a futuristic NFT project that utilizes cutting-edge DeFi tools to maximize returns by providing options for both farming and staking using its sNFT. Each NFT is programmatically generated with a unique digital pair of shoes on the platform.
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