New Master Token Technology Supercharges NFTs With Passive Yield
September 02, 2022 at 16:07
SuperchargeMyNFT, is innovating to add much needed utility and future compatibility for NFT holders globally, including stable, low-risk yield. The project by Standard DAO is partnering with leading Ethereum scaling platform Polygon to provide upgradeable utility features to holders of any NFT holders at low-cost with reliability. Interested users or project partners can join the project’s waitlist on its website.
At its core, SuperchargeMyNFT is an interoperability and future compatibility standard. The Master Token technology at the heart of the SuperchargeMyNFT project, will “provide NFT holders the ability to add more value and collectability to their NFT holdings.” The project is designed to provide added utility to DAOs, NFT creators, NFT holders, and NFT marketplaces such as OpenSea, or any other business that provides products and services via NFTs.
Of the services on the Master Token roadmap, the feature NFT holders are looking forward to most is the NFT Yield Utility. The Gen1 Token will come pre-loaded with this structured DeFi product and simply by holding it, the user will earn passive revenue by validating the Ethereum Proof of Stake network after the merge. All Master Token holders will automatically earn a share of the overall validation rewards according to the amount purchased and yield allocation through Standard’s ‘Distributed Delegation Network’ (DDN).
How it Works
In technical terms, Standard DAO’s Master Token is an Upgradeable ‘Network Utility Token’ (NUT) that can be attached to any NFT at the smart contract level to provide additional utility, such as yield, to the NFT holder. The ownership of the Master Token lies solely with the user who can choose to change the primary ‘display’ NFT that it is attached to at any time through a user-friendly interface.
The Master Token is designed from the ground up to be upgradable and future compatible. As Standard DAO adds new functions and interoperability features to the Master Token, existing owners will get to enjoy all the newly added features without buying a new token. Standard DAO will automatically enable the potential to access each different utility feature at the protocol level as new ERC standards are added. Users just need to opt-in via the company’s decentralized application or with a network partner to access each product or service. Standard DAO will continually upgrade the Master Token based on the needs of crypto investors over time through close partnerships with NFT communities and service providers.
One of the surveyed NFT holders expressed their opinion on Standard DAO’s SuperchargeMyNFT project by saying, “I can’t express the excitement that I have for the potential that the Master Token technology can unlock for crypto and NFT investors. It is nothing short of a game-changer. The Yield Utility feature solves one of the most relevant and pressing issues for token holders right now. We can now get yield without lock-up or risky bridging or staking by simply holding an NFT and validating the blockchain network. I can’t wait to see what else Standard DAO has planned for the Master Token and how it will affect the NFT and broader crypto investment landscape going forward.”
About Standard DAO
Standard DAO is a reliable community-owned, decentralized treasury that integrates real-world and on-chain assets for online investors who need to find a provable solution that can hedge against inflation, monetary policy, and other centralized inefficiencies. In its mission statement, the DAO (Decentralized Autonomous Organization) says that it is focused on “elevating the standards of living for humanity through collective action and investing.”
Headquartered in Tortola, British Virgin Islands, the nonprofit organization has over 90 employees working towards its vision to “supercharge community-led impact investing.” Over the years, the company has fostered a dedicated community that is distributed across the globe and includes over 1800 contributors and a growing network of more than 30 advisors and partners across several industry sectors.
For more information about Standard DAO, contact the company here: