The KermitX NFT Competition
Originally a part of Q4 2021 of our roadmap, we fast-tracked the development of our NFT Marketplace due to the introduction of Metaplex, a decentralized protocol paired with an open-source web framework that lets artists, brands and creators launch self-hosted NFT storefronts. About one week ago, the KermitX NFT Marketplace BETA went live, and to celebrate we have decided do an NFT art competition.
As Kermit Finance grows more and more, we’re learning that Kermit isn’t just the crossroads where DeFi and NFTs meet on Solana — but a place where artists and community members can come together, collaborate, and connect. What better way to foster this growth than the spirit of a good competition?
We haven’t been so transparent about our latest launch of the NFT marketplace, so let us tell you why we’re so excited about NFT’s and then introduce how you too can have your art immortalized on Solana and be rewarded for it…but first..
What are NFT’s and and why do you have to care?
Let’s start with that name — Non Fungible Token — it sounds like nonsense but its actually pretty simple.
‘Fungible’ simply means that something is easily replaceable by something identical. Same goes for Bitcoin, Solana and KERMIT. While the blocks they’re minted on may be different, they’re still Bitcoin, Solana and KERMIT at the end of the day.
‘Non-Fungible’ is the opposite. If a collector loans a painting to a museum, and they receive back a counterfeit, they’re gonna be pretty annoyed. The two artworks may look identical, but one of the artists who drew them makes that particular artwork unique, scarce and valuable. In a nutshell, this explains the concept of NFT’s.
The digital collectibles market is currently valued at $5–10bn USD.
Can you see why we’re so excited to introduce NFT’s to the Solana ecosystem now?
The $KERMIT team is happy and honored to announce the inaugural KermitX NFT Art Competition. With a 100,000 KERMIT prize pool and 10 total winners, this is a community event you won’t want to miss!
The Competition
Creators will have three weeks (ending July 11th) to submit a NFT artwork. It can be 3D art, 2D art, a painting, a photograph, anything!
Your NFTs should be generated in only the image format (jpg, png, gif). This competition is open-ended and we look forward to a wide variety of submissions.
To join the competition:
👉 Mint your NFT artwork on KermitX NFT Marketplace
👉 Fill in the form: https://forms.gle/TSZQxi58FBWDzk2DA
👉 Share it on Twitter with the link to your artwork on KermitX using the $KERMIT cashtag,#kermitnftcontest and mention our account @KermitFinance in the tweet.
All contestants must tweet our their entry with the hashtag #kermitnftcontest before the July 11tht deadline. Once you’ve tweeted, please post the tweet in the #nft-contest channel in our Discord. Good luck!
Out of all the submissions, 10 NFTs will be selected by the Kermit Team, auctioned on the KermitX NFT Marketplace for a period of 7 days.
The 10 winners will be decided by the community based on the bids. The NFT with the highest bid will win the first prize, 2nd highest bid will win the second prize and so on. All of the winnings will go to the artist.
The Prizes for the competition:
1st Place : 35,000 $KERMIT
2nd Place: 25,000 $KERMIT
3rd Place: 15,000 $KERMIT
4th Place: 10,000 $KERMIT
5th Place: 5,000 $KERMIT
6th to 10th Place: 2,000 $KERMIT
Submit your art before July 11, 12 PM UTC, don’t miss your chance.
Kermit Finance plans to attract artists and collectors from all over the world to join the Solana ecosystem. We ais to be a part of the already growing Solana ecosystem. This way, digital artists and creators will get a chance to present their work to the NFT market and get exposure to the large Solana community with an added advantage of cheap minting fee. Our lives have moved online, so it is about time we found ways to value the artistic skills our new technologies enable.
💬 Join the Kermit Gang!
- Discord: https://discord.gg/ecAnckpcd4
- Website: https://kermitfinance.com/
- NFT Marketplace: https://nft.kermit.exchange
- DEX: https://kermit.exchange
- Twitter: https://twitter.com/kermitfinance
