MICHIFACE
MICHIFACE
Nov 23, 2022 - Nov 29, 2022
Marketplace: OpenSea OpenSea
Blockchain: Ethereum Ethereum

MichiFace is an upcoming NFT project featuring three unique collections - Pixel MichiFace, 3D MichiFace, and Baby MichiFace. The project aims to release a total of 10,000 NFTs, each with different traits, skin color, and designs. The project's utility lies in its ability to create a passive income source for collectors by opening a clothing brand. Whenever a collector's MichiFace is used to design a cloth that the company sells, the holder/collector receives a percentage to their Ethereum wallet. Currently, a limited number of Pixel MichiFace NFTs are available on OpenSea, and the Baby MichiFace collection will be the final project, with some Pixel MichiFace holders receiving airdrops of the new collection.

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Explanation of the Key Terms

NFTs

NFT, or non-fungible token, is a unique digital asset that uses blockchain technology to verify its ownership and authenticity. Unlike traditional currency or cryptocurrencies, NFTs cannot be exchanged for an equal value or divided into smaller units. Instead, they are one-of-a-kind digital items, such as artwork, music, or even tweets, that can be bought, sold, and traded like physical collectibles.

Ethereum

Ethereum is a decentralized blockchain platform that enables developers to build and deploy decentralized applications (dapps) on top of it. It is the second-largest cryptocurrency by market capitalization, second only to Bitcoin. Ethereum's unique selling point is its ability to support smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. These smart contracts run on Ethereum's blockchain, ensuring transparency, immutability, and security. Ethereum has sparked a wave of innovation in the crypto world and beyond, with developers experimenting with new use cases and applications for the technology.

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