Entering the World of NFTs with the Ferrum Metal Ox

Published in

FerrumNetwork

7 min readFeb 12, 2021

Dear Ferrum Community,

We’ve come a long way from CryptoPunks and Rare Pepes. NFT technology is revolutionizing gaming, collectibles, digital experiences and every form of art. In the last couple of months we’ve seen Jordan, Deadmau5, RAC, Rolex, Jose Delbo, Beeple, Justin Roiland, Soulja Boy, and Logan Paul enter the conversation. This is just the beginning, we’ll be seeing an irreversible ripple effect this year so you’ll be proud to tell your kids that you were early.

Naturally, Ferrum wanted to be a part of this revolution, but we didn’t want to just copy what other projects are doing. We wanted to create a line of unique and interactive NFTs, made in collaboration with notable NFT artists, with utilities specific to the key value propositions underlying Ferrum’s success: namely access to private sales through Ferrum Advisory Services and our industry leading Staking-as-a-Service business.

With that said, we are proud to introduce the first in a series of many NFTs: the Ferrum Metal Ox!

But before diving into the utilities of the Ferrum Metal Ox and explaining how to get your hands on it, we wanted to describe our unique approach to NFTs.

NFTs: An Introduction

NFTs also have a huge impact in how business is done in the crypto industry. They have become a great tool for spreading product awareness and developing brand loyalty. While reading the whitepaper is a great way to learn the ins and outs of a project’s mission, roadmap and marketing plans — it’s not as effective as visually representing these key value propositions in a beautiful NFT, and imbuing it with utilities unique to the project.

Therefore, we’ve decided to explore NFTs in an effort to educate our community about our product family with an approach that is easily digested and familiar with the imagery and tone seen in other industries. Similar to the way Google doodles can educate you about specific events, our NFTs provde more insight to the product uses, core team, mission and overall direction. By gamifying the learning process, we’re creating an immersive NFT campaign that rewards our community for learning and engaging with aspects of our ecosystem Ferrum Advisory Services incubation projects and our Staking-as-a-Service business.

NFTs, the Ferrum Network Way

At Ferrum, we always strive to do things differently. In the case of NFTs, we will be the first to acknowledge that this space is new to us. Therefore, we wanted to emphasize the importance of giving back to the creators that have worked so hard to make NFTs what they are now, so we decided to recruit our artists from within the NFT art space.

Many big names are entering the scene and we want to ensure that the original creators don’t get overshadowed by this influx of celebrities. As much as we love Mark Cuban and appreciate his presence in crypto, we want to empower native NFT artists by using our platform our partners platforms to bring attention to the multitude of talented artists that are working hard to innovate our industry.

As our strategy evolves, and our partner network grows through Ferrum Advisory Services, we will look to partner with more NFT artists to encourage their growth and bring more exposure to their art.

Why the Ferrum Metal Ox

Our first NFT is a celebration of the Lunar New Year. Following the Chinese calendar, a 60-year cycle based on 12 earthly branches, each represented by an animal year, and five element years (wood, fire, earth, metal and water) 2021 is the Year of the Metal Ox.

Ferrum is the Latin word for iron, and we’re all expecting a very bullish year. 2021 is meant to be a great time to launch a new business project so we incorporated a launchpad under the Metal Ox and the Cash coins are representative of financial prosperity. We could not have imagined a better visual representation combining the metal elements of Ferrum with the bullishness of 2021.

Much More than Pixels

The Ferrum Metal Ox was created by renowned NFT artist Marc-O-Matic. The art itself has a value based on Marc-O-Matic’s years of experience and established sales history in and out of the crypto space. Many of his pieces sell for over 10 ETH, and are closely guarded by well known NFT art collectors. Marc’s work is truly on another level of creativity, immersion and engagement. We are honored and humbled to be able to work with him.

But the value of our NFT goes beyond the fact we are working with incredible artists like Marc-O-Matic. The Ferrum NFTs are embedded with utilities related to our product family and partnerships. From staking to pre-sales to surprise use cases that haven’t been explored by anyone else in the industry. Some Ferrum NFTs will be extremely scarce and difficult to obtain, while others will only be available to the most active members of our community.

Adding our utility to these NFTs will create demand from the secondary trade market and we’re excited to use this opportunity to generate royalties for our partner creators.

Utilities and Costs of the Ferrum Metal Ox

The Ferrum Metal Ox NFT will be one of our scarcest designs. Here are some important stats on the Ferrum Metal Ox:

Only 30 will be minted
Will only be available to individuals holding 50,000+ FRM;
will cost 1.5 ETH

Utilites of the Ferrum Metal Ox

The utilities of the Ferrum Metal Ox are designed to showcase one of the most important and valuable aspects of our ecosystem: the fact that FRM holders get access to the private sales of all Ferrum Advisory Service (FAS) incubated projects. Here are the utilities:

Three monthly airdrops from our next 3 three launchpad projects;
The value of the airdrop will be $500 worth of tokens based on the public sale price;
Distribution will occur at or around the time of TGE, and on the same date the following two months;
One free piece of Ferrum merch from the upcoming merch store

Note: only one NFT will be available per wallet.

The physical merch is only available to the initial buyer, but the airdrops will be available to anyone holding the NFT at the time of snapshot.

The initial sale of these NFTs will be done directly within our community to allow for whitelisting of FRM+FRMx holders, as explained below.

How to Get a Ferrum Metal Ox

At Ferrum we are completely against the first come first serve model. It’s not fair and it doesn’t benefit our FRM token holders. This approach is exemplified in our FAS private sale model which is based on guaranteed access to pre sales based on FRM amounts. Our approach to NFTs is no different.

Therefore, the process to acquire the Ferrum Metal Ox will be similar to our process to invest in private sales through FAS:

A snapshot will be taken on Sunday February 21 at 9 PM EST
A pledge email will be sent to all those holding 50,000+ FRM in their wallet
Those who are interested in purchasing Ferrum Metal Ox will have 24 hours to fill the pledge form with their address;
A list will be generated of all the pledges and then we will randomly select the 30 winners
Those winners will have the right to purchase Ferrum Metal Ox

What’s Next for the Ferrum NFT Strategy

Our team is continuously working on new products and strategies in an effort to reward you for the continued support. Stay tuned for more developments in our NFT strategy. We are creating a collectibles series that mixes fun, utility and lots of value to the participants. We look forward to sharing more details soon!

Thank You

We want to give a huge thanks to Marc-0-Matic, Carlos Melgar and the entire Ferrum NFT team from the Governance Committee for helping put all of this together. We truly could not have done it without you! Thanks again.

Very truly yours,

-The Ferrum Network Team

About Ferrum Network

Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption. Founded in the 2018 bear market, it has grown into a DeFi powerhouse with four working products, over 20,000 active users, 50+ clients using its staking technology, 20+ million TVL on its staking protocol, a successful incubator/advisory arm, 8 FRM utilities, and much more. Ferrum’s forthcoming cross-chain DAG will enable the transfer of any digital asset in milliseconds for near-zero network fees. Its non-custodial UniFyre Wallet has revolutionized the way people send crypto with its “Link Drop” technology. Ferrum’s Staking-as-a-Service is used by over 50 projects and their Token Bridge is the fastest, and most secure means of moving assets between Ethereum and Binance Chain. Look for Ferrum to launch more transformative DeFi technology throughout 2021 and beyond.