Not quite to the moon: Aussies offered NFT that could send them to space
Australians may not ever see their nonfungible tokens (NFTs) take them “to the moon,” but they might be able to get to the next best place — the edge of space.
Crypto Competitions, an Australia-based Web3 sweepstakes startup, has recently signed a partnership with stratospheric exploration company World View, offering its NFT holders a 1-in-7,000 chance to win a priority seat in a World View space flight in 2024.
Speaking to Cointelegraph, Harls Cannard, managing director of Crypto Competitions, said the sweepstakes was a way to celebrate the launch of his Web3-powered marketplace, which uses NFTs and prizes as an incentive to join its discount rewards program.
Canard said he thought the space flight was a “great way to launch,” even if it wasn’t necessarily sending someone “to the moon.”
He explained that his Web3 company wanted to use blockchain to power its space flight sweepstakes project as the technology allows the draw to be “safe, secure and transparent.”
“Because in a lot of lotteries and systems like this, you never actually know your odds of winning. You can't verify your details to know if your name is actually in that barrel or in that draw. So we're creating more of a trustworthy and transparent system of generating winners.”
Crypto Competitions’ model bears resemblance to traditional NFT lotteries which uses an NFT to represent a sweepstake “ticket.”
However, it puts a unique spin on the sweepstakes process, as it employs a gradual elimination process to determine a final winner.
Canard explained that at each step, eliminated NFT holders or new buyers would be encouraged to participate in the secondary sales market for the surviving NFTs.
Canard said his hopes for the company’s space flight project will
Read more on cointelegraph.com
