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The STATUS NFT project is a unique initiative that reimagines digital status symbols through the lens of the renowned Suprematism art style. It focuses on the innate and universal human desire for recognition and distinction within social frameworks, going beyond mere aesthetics to bring the practical implementation of the social hierarchy structure to life.
Unlike most established NFT collections, such as CryptoPunks and BAYC, which consist of algorithmically generated characters serving as profile pictures, STATUS NFT takes a step forward in the NFT space.
It diverges from the conventional path of featuring algorithmically generated characters and instead comprises artworks depicting abstract shapes and colors, thereby transcending the boundaries of typical profile picture characters.
The STATUS NFT model encompasses a set of nine fundamental digital status symbols, complemented by two distinctive outliers, all of which have been created using the Suprematism art style.
Each STATUS NFT is identified by shape and color and can be used by anyone to demonstrate their status or can be sent to others to display either respect (Privileged, Elite, Gods) or contempt (Deplorables).
Impact and Potential
The STATUS NFT project provides a unique opportunity to explore the importance of social status symbols in the digital asset realm. It offers a new approach to understanding the place of NFTs in the modern social hierarchy and invites everyone to participate in the contemporary status game in a novel and engaging way.
As the significance of digital status symbols continues to grow, their impact on our lives will extend far beyond merely showcasing online social standing. Owning a specific digital status symbol, like a STATUS NFT, can potentially unlock a range of material advantages. Furthermore, other blockchain projects can integrate STATUS NFTs into their ecosystems to recognize members of their communities.
STATUS token ($STATUS) is a native digital asset of the STATUS ecosystem. It is an ERC-20 token with a fixed total supply of 10 billion. $STATUS token is fully functional and operational and will not undergo any future upgrades. The smart contract is immutable; nobody can increase the $STATUS token supply or change other important smart contract parameters. Ownership of STATUS NFTs is not a prerequisite for holding $STATUS, as the token will become available on the secondary market in Q3 2023.
The allocation of $STATUS tokens is outlined with 30% of the supply reserved for future incentives, 20% allocated to the founding team (subject to a 9-month lock-up period), and up to 20% allocated to angel and venture investors. 10% of the supply will be allocated to early supporters, with a maximum of 2 billion $STATUS tokens distributed at an initial price of $0.0005 from June 1, 2023, to July 31, 2023.
All proceeds generated from community contributions will be utilized to facilitate the launch of the STATUS NFT collection, provide liquidity for the $STATUS token, and foster widespread adoption of the project.
The project timeline indicates that the $STATUS token distribution takes place from June 1 to July 31, 2023, via the STATUS website.
STATUS NFT Release
The STATUS NFTs collection is set to be released on the OpenSea platform on July 1, 2023. For updates, please follow the official STATUS Twitter account.
$STATUS Token Presale:
The initial fully diluted valuation of $STATUS token has been set at $5 million, and a maximum of 2 billion $STATUS tokens (which represents 20% of the total token supply) will be distributed at an initial price of $0.0005 from June 1, 2023, to July 31, 2023. Visit the $STATUS token distribution page to learn more about the token presale mechanics.
Overall, the STATUS NFT project presents a unique and innovative approach to the NFT space, combining art and the social hierarchy to create a compelling concept.
While many other NFT projects focus on aesthetics or rarity alone, STATUS NFT emphasizes the use of digital assets as social status symbols, which is a fascinating and novel idea.
The project also pays tribute to the historical importance and enduring relevance of the Suprematism art movement within the modern NFT art landscape.
The project's financial token, $STATUS, seems well-planned, with a clear distribution strategy and a focus on maintaining project liquidity and encouraging adoption. The immutable nature of the $STATUS smart contract provides assurance regarding the token's reliability.
It's also noteworthy that the project's roadmap is well-defined, with key milestones and timelines clearly outlined. The availability of the $STATUS token on secondary markets should also help in increasing accessibility and promoting wider adoption of the project.
One potential area of concern could be the project's focus on social hierarchy, which might not resonate with everyone, especially those who are uncomfortable with rigid social structures. It will be interesting to see how the wider crypto and NFT community responds to this concept.
In summary, the STATUS NFT project is an innovative venture that pushes the boundaries of what NFTs can represent and achieve. It is undoubtedly a project to watch in the evolving NFT space.