By
Bhushan Akolkar
April 26th, 2024
BitMEX’s Phoenix Series consists of 10 items, and it is exclusively for its current traders. The X Series artwork consists of 150 unique artwork pieces commissioned by BitMEX.
Crypto exchange and derivative trading platform BitMEX has launched its non-fungible tokens (NFTs). BitMEX announced the release of its exclusive and first-ever NFT series in a blog post published on the 13th of September.
Over the past year, there has been a buzz around the NFT space as prominent names and companies begin to explore the market. Athletes, artists, and more celebrities across different sectors made a move towards non-fungible tokens. As such, the trading volume of NFTs across several marketplaces increased.
BitMEX is now the latest to launch its own NFTs. In the announcement, the derivative trading platform said the launch will provide opportunities to its traders to receive “a piece of virtual swag.” Noting that the NFT reward is for both existing and new traders, BitMEX noted:
“Think of it as a BitMEX badge of honour – no matter where you are in the metaverse, owning one of these will put you in the rarest of company.”
According to the BitMEX announcement, the firm is launching “The Phoenix Series – Rise With Us” and “The ‘X’Series.”
BitMEX NFTs: The Phoenix Series and The ‘X’ Series
BitMEX’s Phoenix Series consists of 10 items, and it is exclusively for its current traders. Any trader that gets one of the limited Phoenix Series NFTs would be one of the top 10 traders on the platform by PnL in the last three months.
Referring to the top 10 BitMEX traders by PnL within the given period, BitMEX added:
“Your blood, sweat, and strategies paid off. If this is you, congrats – we’ll be in touch soon.
On the other hand, The X Series artwork consists of 150 unique artwork pieces commissioned by BitMEX. Unlike The Phoenix Series, both the existing and new users of BitMEX stand the chance of winning artworks from The X Series.
While announcing its NFTs series in the blog post, BitMEX stated that Bitcoin had jumped more than 150 times since the trading platform was founded in 2014. To celebrate this achievement, BitMEX said that it would give users opportunities to win X series artwork. Initially, the trading platform will give out 75 artworks from The X Series to new users. Also, best-performing individual accounts throughout September will also receive the reward.
BitMEX to Distribute 75 X Series Artworks
Furthermore, BitMEX gave a breakdown of how it would be distributing the 75 X Series artworks. 10 would go to its top users by volume beginning from 13th of September till the end of the Month. Another 10 would go to the best performing accounts by P&L for the rest of September.
Also, 10 would be awarded to BitMEX’s best-performing affiliate referrers from the day of announcement till month-end. Additionally, new active users from the day of the announcement till the end of September would receive 35 of the artworks. Finally, the last 10 will be distributed randomly at the exchange’s discretion.
BitMEX noted that it would save the other half of the unique artwork pieces for future use.