Exciting news for the NFT community! Empowa is set to launch its Collateral NFT sale on May 29th at 10:00 am GMT. Here’s everything you need to know about this highly anticipated event:
Exclusive Access for Founding Community Members
The sale will kick off with a 6-hour exclusive access period for those holding a Premium Founding Community NFT. This means that from 10:00 am GMT to 4:00 pm GMT on May 29th, only these premium members will be able to purchase the NFTs.
At 4:00 pm GMT on May 29th, the sale will open up to include holders of any Founding Community NFT or a Summit World NFT. This extended access lasts until 4:00 pm GMT on May 30th.
General Public Sale
Following the exclusive periods, the general public will have the opportunity to participate in the sale starting at 4:00 pm GMT on May 30th. This open sale ensures everyone interested gets a chance to purchase the NFTs.
Purchase Limits
To maintain fairness and equal opportunity, there is a cap of 25 NFTs per wallet. This limit helps ensure a wide distribution among the community members.
NFT Details and Buyback Terms
Empowa will offer two types of NFTs:
- 1,000 EMP: Priced at 900 each, with a buyback price of 1,000 after one year.
- 100 EMP: Priced at 90 each, with a buyback price of 100 after one year.
Marketplace Launch Delay
Due to delays in the audit of the marketplace smart contract, the launch has been postponed by a month. As a result, anyone looking to sell their collateral NFT within the first month will need to use a general marketplace and assume the ADA to EMP exchange risk. Once the marketplace is launched, NFTs can be traded in EMP, mitigating this risk.
Buy Back Period
For future NFTs sales If the full collateral requirement is not met through the sale of community NFTs or by the developer, the original EMP will be returned to purchasers, and the project will not proceed. This will also mean that the buyback date will be dynamically set based on when the full collateral requirements are met i.e. all the NFTs have sold out.
However, we are confident that the community will meet the EMP requirements for this NFT and so will already confirm that the buy-back period will begin next year on the 29th of May
Stay tuned for more updates and prepare for the launch on May 29th. This is a unique opportunity to be part of the Empowa community and invest in their innovative Collateral NFTs.
