NFT Rewards Approval and Allocation
The NFT Rewards Program effect has gone beyond volume growth, as shown in our latest progress report, and proved to be a source of attention from platforms and users on other chains strengthening our positioning among other top NFT chains. Here are some examples from Q4.
- NFT enthusiasts recognizing Algorand’s numbers in comparison to other chains deploying millions in tokens.
- DappRadar recognized Rand’s bucking the wider NFT trend.
- A shift of community sentiment providing growth opportunities for existing Algorand projects.
- Messari Algorand Q3 Report’s key insights highlighted the success of the NFT rewards pilot.
Considering that NFT rewards are subtracted from the amount available for general rewards, we have a measure seeking governors’ approval to run the NFT rewards program in Q1 and a measure seeking the approval of 650K Algo for the program in Q1, an increase of 150K from Q4’s deployment.
(The Foundation supports option A on both measure below.)
Measure - Should we run the NFT Rewards program in Q1/2024?
Measure - How much for NFT rewards in Q1/2024?
A. Allocate 650K Algo
B. Allocate 500K Algo