A Buoy Side Project…
“When Launch?”
One of the things which has become very clear to anyone hanging out in the Telegram is that there are two distinct groups of users waiting for the new Buoy platform to be built. On one side, the more diehard investors who are genuinely bullish on the long term prospect of crypto index funds, on the other side, the investors who were more focused on flipping an ICO.
Now to be clear, I think both of these groups deserve their due. There is absolutely nothing wrong with wanting to recoup a lost investment. As of now, everyone holding Buoy has their ticket for the index fund platform, and just needs to wait for that next shot. But, as the scope of the project continues to grow, the whole “waiting” part is starting to weigh heavily on the latter group.
It is for this reason I have spent the last few days hacking together something to make the moonboys happy. A brand new type of NFT platform on the BSC network: Non-Fungible Memes. This should end up benefiting both groups; first, if your only real interest is trying to recoup your funds, you now have a stake in the ground floor of an innovative NFT platform, and a token to shill or dump or do whatever you want with; second, if the project succeeds it will provide the team with some extra funds to develop the main project, maybe even enough to hire a team member or two in order to help speed up Buoy’s development. I want to be clear, this isn’t a replacement for the Buoy platform, it is simply a lighthearted side project to help give everyone a bit of relief. If you check the BSC wallet corresponding to your Buoy wallet, you will find you have received an airdrop of NFMT. The liquidity pool on Pancake swap is already live.
So what does NFMT do?
Non-Fungible Memes
Non-Fungible Memes, or NFM, is a lottery based novelty NFT platform built on the Binance Smart Chain. Users can “roll” for memes, there are 60 different memes in this collection with varying levels of rarity.
Here’s the twist though!
Rather than simply using the tokens to roll for a meme, you actually burn a small amount of the token’s Pancakeswap liquidity token instead. This adds a unique twist, as every time someone rolls for a meme, they are actually adding a small amount of fixed liquidity to the pool. Since the burned liquidity tokens can’t be removed, each NFT minted strengthens the value of the NFM token (NFMT) itself.
NFM takes advantage of a number of popular and in demand features, stuff like NFT collectables, lotteries, and liquidity token burning. It is upgradeable, so it can be expanded easily to add things like staking, personal NFT minting, and more. It takes advantage of the Binance Smart Chain, meaning dirt cheap gas fees so you can roll for memes without breaking the bank, and a large base of speculative investors. And of course, it goes without saying it has meme value.
- Buoy holders have received NFMT at a rate of 10:1
- There is a total supply of 1.25 million tokens, more than 10% of which are in the liquidity pool.
- Only 5k of this first collection of NFT’s will be minted.
- More collections will be released in the future.
- The market cap is only 50k on launch, so there is plenty of room for growth.
Since the liquidity pool is live and the contracts are published, the platform is already finished and online! You can roll for memes right away. I have also put together a rudimentary marketplace to buy and sell memes which will also be integrated into the webapp. At the moment I have someone else putting together the webapp while I get back to working on Buoy.
Have fun, and good luck rolling!
