Nitro Network: Seeding the future of NFT mining and nesting
The world of DeFi never sleeps. Between the countless OHM forks, smart contract exploits, and endless Twitter drama, there is always something exciting happening. The latest development in DeFi is the Nitro Network, a project bringing decentralized mining to the masses with an NFT twist.
Nitro Network is one of its kind in the crypto ecosystem and it will disrupt the ongoing DeFi and NFT framework with unique IoT solutions that will have a resonating effect across the globe as more people join or host networks that connect to the nucleus of Nitro.
What is it?
According to a recent report from Deloitte, the crypto economy is expected to exceed $3 trillion in value (that’s trillion with a ‘T’) in the next few years and Nitro Network is well positioned to benefit from this exponential growth.
Capitalizing on this NFT and DeFi revolution, Nitro Network is placing IoT at the epicenter of mining. On Nitro Network, users can invest in miners that are purchased and minted in the form of NFTs and these miners are the flagship offering of the network.
When we say ‘miner’ we mean an NFT that has properties of a physical miner embedded in a digital format, rather than the user needing to cover the electricity, internet and hosting costs associated with physical miners.
A quick Google search will immediately reveal that dedicated mining equipment is expensive, comes with high electricity costs, microscopic profit margins, and generally this is a non-starter for the curious investor.
Nitro Network passionately believes that crypto mining and investing should have a low entry point for everyone and with the growth of the IoT and big data sector, decentralized networks will need hundreds of thousands of participants to host the infrastructure that supports a growing network.
So what’s the solution?
This is exactly why we pioneered the novel approach of combining digital mining with the emerging NFT sector which is already incredibly popular with today’s digital investor.
This novel approach means those who pre-ordered Nitro Ion miners and those thinking about getting involved with crypto mining don’t have to worry about the lengthy shipping delays that are literally impacting every sector across the globe, or jumping through the hoops required to set up mining equipment, not to mention the off-putting operational costs.
By purchasing a NFT from Nitro Network’s native marketplace, buyers not only get a unique NFT but also the rewards generated in the Nitro ecosystem (subject to the type of NFT you have bought)
Let’s dive more into some of the many Nitro NFT advantages:
- Three different Tiers of NFTs which all yield rewards (unlike most NFTs)
- Effortlessly mine from anywhere in the world
- Early bird access to Nitro’s upcoming drops
- Full commercial usage of the nitro bots.
Here’s a sneak peek at what they look like: ⬇️
This means, Nitro NFT holders can get started with mining, collecting and staking their NCash rewards right away, instead of having to wait for the product to ship and then being forced to sort out confusing configuration instructions.
Synergizing IoT and mining with NFTs
At Nitro Network, innovators are leveraging the power of IoT to interconnect miners on the blockchain. Individuals who are willing to become a part of a hyper localized network can purchase an NFT from our soon to launch native marketplace in order to partake in digital mining.
With the advent of 5G and other possible GPU solutions that can offer high throughput, participants of the Nitro network will have hassle free access to microfinance, along with unique incentives and reward opportunities. Nitro Network is taking this initiative to create an inclusive community of like minded individuals where everyone wins.
In the Nitro Network, there are three different tiers of NFTs that will be available and the amount of NCash rewards generated by each ‘NFT’ is reflective of the NFT tier.
The three tiers of NFTs are:
- ICONIC: TIER 1 NFT
- PREMIUM: TIER 2 NFT
- TOP: TIER 3 NFT
With that being said, we have some excellent news! All pre-orders till the last batch of pre-orders (currently active and valued at $450) will automatically be upgraded to receive a Tier 1 NFT (valued at $750) which will double as your “virtual miner” and allow you to earn the most amount of rewards. If you have not pre-ordered yet, don’t worry — you have until 7th Feb, 2022 to claim this limited time deal.
Similar to the NFTs one can find listed at OpenSea, LooksRare or Rarible, NFT pricing is based on the tier and different rarity traits of the collection and this is reflected in the pricing of Nitro Network’s NFTs.
Like other blue chip projects, Tier 1 and 2 NFTs with hyper rare, rare, and ultra rare features tend to sell at a higher price and general dynamics like personal aesthetics, rarity traits and whether or not the NFT is from a genesis collection all play a role in the secondary value of the NFT. When compared against other IoT mining solutions and the entire NFT space, Nitro Network is really pushing the envelope in a unique way!
Holders are essentially making a dual investment wherein they own a unique NFT that is hosted in multiple marketplaces and are able to mine rewards in NCash which is tradable on exchanges.
Over time, the NFT (depending on how you look at it) is covered by the NCash rewards and the existence of NFT marketplaces, meaning investors can swap, buy and sell their NFTs in pursuit of NitroBots with rarer features.
But there’s more to being a Nitro Network participant than just that! NFT holders can also participate in the Nesting and Staking.
Nesting process: The details
Nesting is the process of supporting a hosting point in the network. Essentially, upon joining, holders will act as a hotspot on the network.
Unlike other IoT solutions which will not necessarily guarantee a steady rate of rewards due to network saturation or lack of coverage issues, Nitro Nesters will be the only participant in that 1 kilometer radius. In the case that two people within the same 1 kilometer radius both fulfill the requirements of becoming a Nitro nester, the model of first come first serve will be applied. Whichever nester registers and completes their verification first will be given preference.
The core purpose of Nitro Nesting is to interconnect outdoor spots like amusement parks, local shops and malls for them to be able to have access to data over a private data network.
The ION miner uses the GPU of the nester, for which the nester receives rewards. With this approach, Nitro Network is truly decentralizing the crypto model with IoT and nesting, offering a piece of the pie to both the miner and the nester.
Similar to the “tier structure” previously mentioned, nesters are split into tiers based on their location. Nesters in a “Iconic” (tier 1) location such as New York City will receive more rewards compared to a “Top” location (tier 3) nester in a low-populated countryside.
The unique feature here is the availability of options in nesting, and Nitro’s NFT tiers aim to democratize and open up our network to everyone. It is our view that no one should be priced out of joining the network; we want everyone to be able to join!
To celebrate the nesting launch, Nitro Network is giving away a Tier 1 rare NFT to one person who pre-orders a tier 3 NFT.
In the following weeks, expect the following developments from Nitro Network:
- The launch of our native NFT marketplace where you can purchase NitroBot miners.
- Distribution of NitroBots to everyone who pre-ordered a miner in the last four months.
- Mystery Box NFT reveal
- Iconic (Tier 1), Premium (Tier 2), and Top Location (Tier 3) NFT listings at major NFT marketplaces
- AMAs on Nesting, Mining, Staking and other features of hosting a Nitro Network miner
- A huge limited edition drop with a major NFT marketplace
- Big partnership announcements with some of the biggest companies in the crypto space!
Join our discord for more information on our NFT launch!
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