Timechain, a regulated financial app and DEX aggregator enabling users to earn passive yields on their crypto assets today unveiled the Crypto Cups NFT collection that offers a wide array of utilities to Timechain app users and stakers.
Timechain Drops NFT Collection
In a bid to provide its users with more utilities for their digital assets, Canada-based Timechain is set to drop the Crypto Cups NFT collection.
According to the official announcement, Crypto Cups is “a cute science experiment that went slightly awry as the Timechain scientists were developing the TimechainApp.”
The announcement adds:
“One scientist spilled the coffee on his computer, accidentally summoning the Crypto Cups in a bright flash of white light. Skeptics say that one of the Timechain lab technicians was secretly producing a psychedelic drug and attempted to use the scientists as guinea pigs.”
Based on such strong lore, the Crypto Cup collection comprises 10,000 Crypto Cups with six visible traits and a unique skill as the seventh trait that will help in distinguishing the NFTs by their rarity.
Notably, each Crypto Cup can be common, rare, epic, legendary, or unique.
NFT Collection to Launch on Ethereum
Although initially, the Crypto Cups NFT collection will launch on Ethereum, Timechain plans to offer future collections on a variety of other blockchains such as Fantom, Terra, Polygon, and Solana.
If an individual holds at least three NFTs on Ethereum, they’ll be eligible to receive one on Fantom for free. In addition, people can also obtain a special Crypto Cup serum, potentially related to the Timechain made scientist who created the NFT collection by mistake.
The Utility of the NFTs
Crypto Cups offer a wide range of utilities within the rapidly expanding Timechain ecosystem.
For instance, users can stake Crypto Cups NFTs in the Timechain app, earn additional daily TCS tokens, and boost their rewards rate by 1 percent on TimechainApp assets.
In addition, NFT holders can stake their TCS on TimechainApp which will soon become a multi-chain DEX aggregator. People can deploy a higher amount of capital for boost depending on how rare their NFTs are. The boost ranges from $10,000 for common NFTs to no cap for legendary and unique cups.
Moreover, users can also stack bonuses. For example, 10 common NFTs are equivalent to one rare cup. This makes the NFT holder eligible to receive a 1 percent boost on accounts up to $100,000 in value.
Commenting on the development, Louis Cleroux, CEO of Timechain, said:
“The Crypto Cups found us, and now its our duty to them to let them see the light on Ethereum and Fantom. This is a unique collection designed with special utility for TimechainApp users, but we also believe that holders will enjoy the art. Looking forward to mint day!”
For those interested, the Crypto Cups NFTs can be minted in a private sale for whitelisted participants while the rest of the cups will be distributed in a public sale a day later.
The Crypto Cups will be revealed once they are sold out, or one week after the public sale.