Terra (LUNA) quickly established itself as one of crypto's premier blockchains with its ever-expanding and unique ecosystem of decentralized finance (DeFi) protocols. Now, Terra NFTs are growing into a formidable alternative to the dominant Ethereum-based projects, especially in the P2E (play-to-earn) space due to Terra's low transaction fees.
This article highlights three of the most important Terra NFT news items each week. This week: Derby Stars raises major funds during seed round, Rekt Wolf NFT sells out on Luart, and Galactic Punks update holders on staking.
Derby Stars Announces Major Seed Round Partners
On Mar. 3, Derby Stars announced its most recent seed round fundraising effort, including 24 total partners and investors.
The investors and partners include:
- Galaxy Interactive
- Arrington Capital
- Jump Crypto
- Mechanism Capital
- Alan Howard
- SkyVision Capital
- a41 Ventures
- Lunatic Capital
- Coin98 Ventures
- Terra Bites
- Avocado Guild
- Ready Player
- Ryan Wyatt (Polygon Studios)
- Sebastien Borget (Sandbox)
- Daniel Kim (NFTBank)
- Chauncey St. John (Angel Protocol)
- SJ Park (Terraform Labs)
- KEvin Chiao (Google Play)
This announcement comes weeks after Derby Stars sold out its second NFT drop of 3,000 digital horses.
With the seed round behind them, the Derby Stars team is looking forward to launching its product in 2022.
Rekt Wolf NFTs Sell Out in Less Than One Minute on Luart
On Mar. 3, Rekt Wolf NFT sold out its collection of 2,222 quirky wolf artworks in under 60 seconds on Luart's NFT launchpad. Since then, the floor price has increased by over 30 percent, as the project is starting to gain widespread community support.
Rekt Wolf is more than a profile picture (pfp) project. Its mission is to provide quality educational content and mentorship to newcomers in the NFT space. By building tools and resources for its community, Rekt Wolf hopes to keep its holders from looking like the wolves in its artwork, wearing fast food outfits and frowning.
The Rekt Wolf DAO is set to expand to four blockchains beyond the Terra network in an effort to help as many people as possible. Content contributors are paid out by the DAO for their time and effort.
A portion of all secondary sales and investments made by the Rekt Wolf DAO are redistributed to NFT holders, making Rekt Wolf NFTs yield bearing.
Galactic Punks Staking Is Coming Soon
On Mar. 2, Galactic Punks, the most well-known and iconic NFT project on Terra, announced details on its upcoming staking feature.
❗️#GalacticPunk staking update❗️— Galactic Punks ᵍᵍ (@galactic_punks) March 2, 2022
We’re excited to share with the @thegalacticdao & #LUNAtic community that our staking dApp is ready to launch in the upcoming days.. 🧊🧊
Blog post 👉 https://t.co/1iLuRuEdPk
Termed the GP (Galactic Punk) Cryogenic Pods, staking (or freezing) a Galactic Punk allows holders to earn rewards on their NFT. There is no staking lock-up period, but rewards can only be claimed after 21 days in the Cryogenic Pods. Staked GPs start to earn rewards immediately, but if the NFT is unstaked (unfrozen) before the 21 days, the rewards are not claimable by the holder.
The first staking rewards come from Luart and Messier's NFT platforms. The Galactic Punks DAO received 5,000,000 Luart tokens and 2,500,000 Messier tokens, 80 percent of which will be distributed to GP stakers. Claiming is every Sunday and total amount of tokens holder's receive depends on how many total staked Galactic Punk NFTs there are.
For more information about Galactic Punks staking, the DAO, and more, see the project's Medium post here.
For more Terra NFT news, see last week's article, "NFTerra: New Punks on the Block, Skeleton Punks Launch on Luart", here.