NFT Migration to STRMNFT Pro: Everything You Need to Know
Updates: 1) Minting is suspended on STRMNFT until completing the migration. 2) If a creator didn’t apply for migration before August 21, 9:00 AM (GST), their collection would be migrated to Polygon on STRMNFT Pro.
Following our recent announcement of STRMNFT Pro, a new marketplace, we’re pleased to open migration from STRMNFT for all creators. All migration requests submitted before August 18 will be prioritized, and creators can see their collections available on STRMNFT Pro at launch.
Read on to learn more about STRMNFT Pro, migration costs, creator reimbursement, and how to get started.
STRMNFT Pro: a multi-chain marketplace designed for creators
STRMNFT Pro will be a standalone platform. We’re planning to launch it sometime between the end of Q3 and the start of Q4 this year.
The full feature set of the marketplace is yet to be revealed. But if you wish to migrate your collection to STRMNFT Pro, here’s a glimpse of what you’ll get:
- Support for Ethereum with ERC-721A and BNB Smart Chain (BSC) with BEP-721.
- Ability to list your collection on OpenSea, Rarible, and other marketplaces.
- Full support for wallet sign-in to access, store, and transfer your assets by just linking your wallet.
- Full trait support: You can migrate your NFTs with their existing traits or apply new traits.
- Ability to use the applied traits to filter NFTs by rarity.
- Complete UI/UX revamp.
- More features will also be available at launch.
The NFT migration process
Migration cost and creator reimbursement
The migration cost (migration fees) per collection is based on the number of NFTs you want to migrate. For each 10,000-NFT collection, the approximate cost is as follows:
- Ethereum (ERC-721A): 0.45 ETH
- BSC (BEP-721): 0.35 BNB
After paying the migration fees for the collection, you can reimburse them as follows:
- If you have less than 10,000 NFTs in the migrated collection, we’ll reimburse you for the remaining amount based on the number of migrated NFTs.
- When the NFT owners come to claim their NFTs on STRMNFT Pro, they must pay the amount spent for migrating those NFTs (claim fees); you’ll also get reimbursement for this amount.
The migration timeline
We will make the migrated collections available at the launch of STRMNFT Pro. In the current migration process, we’ll collect applications until August 21, 9:00 AM (GST). All accepted applications will be migrated and ready upon the launch, with all metadata uploaded to IPFS.
When a collection is migrated to STRMNFT Pro, the NFTs in that collection on STRMNFT will become untradable; this will take effect when STRMNFT Pro is launched. For the time being, the collections that are being migrated will still be tradable on STRMNFT.
At a later stage, all collections on STRMNFT that are not migrated will become untradable.
Getting traits on STRMNFT Pro
After applying for migration, the STRMNFT team will contact you to ask for details about the traits. You can choose to use your collection’s existing traits on STRMNFT or apply new traits. Applying traits in either way will require you to submit the details in a specific format, which will be explained to you after applying for migration.
Example of a migrated collection
If you wish to migrate a 5,000-NFT collection to STRMNFT Pro on Ethereum ERC-721A, you need to apply and send 0.45 ETH. After verifying your application, the STRMNFT team will send you an email with the required format for the traits.
After you send us the traits file, we’ll take it from there. Your collection will be minted with the traits and ready when STRMNFT Pro is launched. Upon the launch, we’ll reimburse you with 0.225 ETH. This amount is based on the number of NFTs in the collection (5,000), which is 50% of NFTs less than 10,000.
Since your collection has NFT owners, they will also reimburse you. When owners connect their wallets on STRMNFT Pro, they can claim their NFTs by sending the migration costs (divided per each NFT). As the full cost is 0.45 ETH/10,000 NFTs, the owner must send 0.000045 ETH for each NFT. This amount paid by the owners will be transferred to you.
Applying for migration
Applying for migration can only be done through the migration form. The form link has been sent to all creators on STRMNFT. If you didn’t receive it, please contact support@strmnft.com from your STRMNFT registered email.
What would happen if a creator chose not to migrate?
If a creator didn’t apply for migration, their collection would be moved to Polygon on STRMNFT Pro. All creators who didn’t apply for migration can contact support@strmnft.com if they wish to add traits to their collections.
If you have any questions, you can reach out to us in the StreamCoin Official community on Telegram.
