CoinList Introduces First NFT Collection FiatWorks

UTC by Babafemi Adebajo · 2 min read
CoinList Introduces First NFT Collection FiatWorks
Photo: CoinList Blog

According to the announcement by CoinList, the collection will be available to two unique user groups.

Token sale platform CoinList has released a list of its first-ever NFT collection FiatWorks. Previously, its two primary business lines were staking and lending. This attracted attention from multiple projects including Solana, Mina, Stacks, Filecoin, Algorand, and Flow. Using its platform, these projects got to sell off their native tokens to early adopters and incubators.

The company enjoyed tremendous growth in 2021. In October, the firm was valued at $1.5 billion after raising $100 million in a funding round. It also noted that its user base by fortyfold and trading volume was over $1 billion monthly. Also that October, the company had over $2.6 billion in staked digital assets and facilitated loans worth about $370 million.

Now, the firm has commissioned artist Case Simmons to curate a limited edition of NFTs tagged FiatWorks. Prior to this, the creative technologist had completed three NFT series. Speaking about the project, Simmons said, “Each piece has around 1100 layers pulled from various image sets.”

Simmons pointed out that the GasWorks Park in Seattle provided the inspiration for the NFT project. The firm’s plan is to use the programmatically generated digital collectible as a loyalty incentive for community members. Consequently, it has partnered with Project Galaxy to deliver the collection to its most loyal customers.

Eligibility for FiatWorks NFT Collection

According to the announcement by the company, the collection will be available to two unique user groups.

On one end is the Karma Gurus. This group comprises 3000 customers of CoinList with the highest karma score in 2021. Users accumulate Karma points whenever they contribute to the token network through staking, lending trading, and participation in experimental offers. CoinList friends are the second user group that will get access to the NFT collection. The group comprises CoinList friends, partners, and supporters who will also have access to 222 NFTs.

Eligible users can claim their NFT assets and share the artwork with others who might be interested in the firm’s mission to improve blockchain technology.

Growing Interest in NFTs

2021 was the year for NFTs and many digital collectibles continue to attract interest from individuals and investors. Some NFT projects like Metaversal that recently raised $50 million are even exploring multi-chain interoperable use cases making them even more attractive to investors. Another proof of a growing interest in the ecosystem is the growth of the Bored Ape Yacht Club (BAYC). BAYC recently crossed the $1 billion mark in total sales volume.

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Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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