The NFT-focused blockchain will launch its mainnet in January with creator royalties enshrined on the community degree.
Body, an upcoming blockchain targeted on NFTs, has concluded a funding spherical led by Electrical Capital, a distinguished enterprise capital agency. Different buyers embody Ray Chan, the founding father of 9gag, Luca Netz, and 0xMaki, the previous CEO of Sushiswap.
Alongside the funding announcement, the venture has launched an airdrop of its native FRAME token for NFT merchants who’ve been energetic by way of the bear market. Whereas the Body mainnet is slated to launch subsequent month, the token won’t be tradeable till an unspecified future date.
Anybody who has traded an NFT on Ethereum over the previous two years is eligible for the primary section of the airdrop, dubbed ‘Chapter 1.’ The variety of tokens acquired relies on buying and selling quantity and royalties paid. Subsequent phases will reward utilization of the Body community as soon as it goes stay.
Body goals to construct a creator-friendly community with royalties enshrined on the community degree, owned and ruled by the NFT group by way of the FRAME token, whose launch will coincide with the discharge of the Body Mainnet.
By empowering creators and collectors with possession and decision-making energy, Body goals to handle one of many fundamental challenges confronted by NFT creators, the place main marketplaces like Blur and OpenSea now not implement creator royalties.
Body isn’t alone in making an attempt to handle the royalty concern, which has been a hotly contested matter over the previous yr. Earlier this month, the RARI Basis unveiled its personal Layer 3 blockchain, RARI Chain, which can equally implement royalties on the node degree.
