Ethereum Layer 2 project MegaETH has introduced a collection of non-fungible tokens (NFTs) called The Fluffle, which grants network participants ownership shares. A total of 10,000 NFTs have been issued, collectively representing 5% of the entire MegaETH network.
An Alternative to Standard Airdrops
According to the announcement, these tokens are soulbound, meaning they cannot be transferred or resold. The project's developers explained that they chose this format to prevent multi-accounting and to bypass mandatory KYC (Know Your Customer) procedures while ensuring compliance with strict anti-money laundering (AML) regulations. Instead, the project emphasizes long-term participant engagement.
“We spent a lot of time thinking about how to fairly distribute network participation. Traditional airdrops often lead to speculation and disappointment. Our goal is to create a system where participants are genuinely interested in developing the ecosystem,” MegaETH stated.
Transparency and Equal Conditions for All
The project's representatives emphasized their commitment to decentralization and fair asset distribution. In a previous funding round, MegaETH attracted over 3,200 investors under the same conditions as prominent crypto industry figures like Vitalik Buterin, Joseph Lubin, and Cobie.
“We deliberately refused to raise investments in closed rounds at inflated valuations, as this could create conflicts of interest between venture funds and end users,” the company stated.
NFT Sale and Its Features
The The Fluffle NFT collection will be distributed in two phases: retroactive and proactive. Only users from a pre-approved whitelist will be able to participate in the purchase. According to MegaETH, more than 80,000 wallets have already registered for the first phase.
Each NFT will be priced at 1 ETH, and the MegaETH team will not receive any tokens. The project plans to release the methodology for token distribution among participants in the near future.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.