OccamFi’s Latest Initiative: NFT for the World

OccamFi announced last Tuesday, April 20, through its Twitter account, its latest initiative in Ocaam.fi: non-fungible tokens (NFT) for the world.

La imagen tiene un atributo ALT vacío; su nombre de archivo es OccamFi.jpg
Image about OccamFi’s Twitter post

“The Occam Association is pleased to announce our NFTs for the World initiative! In this one-of-a-kind project, we will mint 6 totally unique NFTs, with designs that reflect the geographical and cultural identity of their final destinations”, he said through an article published on the Medium platform.

The company explained that such NFTs will be distributed to mission-driven stakeholders selected by the community, who may use, sell, or hold the NFT for the benefit of their delegates and chosen charities.

Motivation

According to Occam, when developing the unique campaign, they were based on meeting the following three objectives:

• Enable and empower our community to fund charitable missions, growing as the Occam.fi community grows,

• Reward ADA holders for actively participating in the project and mission driven groups, rather than simply handing out rewards over the air to any ADA holder,

• Show that DeFi has much greater potential than just making money and show the immense potential behind distributed technology.

How does it work?

As the company commented, each NFT will allow its owner to mine a predetermined number of OCC tokens over an extended period, essentially enabling a new way to create value for mission-driven stakeholders in the Cardano ecosystem. “We will create an NFT for each key geographic region and give it to a single stakeholder operator operating in that region. To obtain the reward, interest group operators will have to convince the community that they are the ones who most benefit the community or society in general”, he added.

In his view, these NFTs, like any other native Cardano asset, can be traded and used by any other participant, essentially creating a valuable digital asset that generates rewards for the most dedicated mission-driven groups.

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Furthermore, the company detailed that they would create a single NFT for each key geographic area around the world, with 6 NFTs minted in total. “The Cardano community can vote on which mission-driven group from each geographic area can carry out the NFT. There are no selection criteria that we will offer, this is fully community driven and driven. We hope that mission-driven groups that focus on the most worthwhile causes are more likely to be chosen to receive an NFT”, he said.

The geographic areas for which each token will be minted include:

• Africa,

• South America,

• North America,

• Oceania,

• Asia,

• Europe.

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