Frame, a Layer-2 Solution for NFTs, Announces Airdrop
Frame, a new Layer-2 solution tailored for NFTs launched in September, has announced its latest fundraising round and a community gratitude airdrop.
According to a post released on the evening of December 19th, Frame, the Layer-2 platform dedicated to NFTs, will conduct an airdrop for its user community in early 2024.
Specifically, upon the project's mainnet launch on January 31st, 2024, the FRAME token will be airdropped to users who have traded NFTs on Ethereum within the past 2 years. At launch, FRAME will only serve governance purposes and will temporarily be non-transferrable until further updates from the project. Users can currently connect their wallets to the layer-2 website to check eligibility for the airdrop criteria.
This is just the initial distribution of $FRAME.
— Frame (@frame_xyz) December 19, 2023
As users build, trade, and transact on Frame Mainnet (launching on January 31st), we'll be distributing more to the community and everyone who helps make Frame great.
The official token will be launched alongside Frame Mainnet. pic.twitter.com/LZsko96bXg
Frame also mentioned that this will not be the only token airdrop, as there will be subsequent distributions based on developmental stages and feature announcements for the Layer-2 solution.
In addition to this event, Frame disclosed a fundraising effort with undisclosed value, with participation from venture capital firm Electric Capital and notable figures within the NFT community.
Earlier this year, we talked to the team at @ElectricCapital, who understood our vision of a network created and owned by creators and collectors.
— Frame (@frame_xyz) December 19, 2023
They've previously backed key crypto teams that have defined the industry.
We're glad to have them as partners for this journey! pic.twitter.com/j8s54ByX5n
Frame operates as a Layer-2 solution built on Ethereum, utilizing optimistic rollups similar to Arbitrum and Optimism, and compatible with the Ethereum Virtual Machine (EVM) to seamlessly link to Ethereum-operating smart contracts.
The project's development team asserts the necessity for a specialized Layer-2 solution for NFTs to meet the sector's burgeoning demands and potential in the coming years, enhancing value and benefits for both creators and investors in NFTs. Frame pledges to support transactions with lower fees and faster processing times compared to the Ethereum mainnet, as well as cater to specialized NFT functionalities.
Frame also ensures NFT copyright protection through the Palette Protocol, a liquidity provision protocol for NFTs.
A portion of transaction fees on Frame will be allocated to the Frame Creator’s Fund, aimed at supporting NFT creators and projects developing solutions on this Layer-2 platform.
Prominent NFT investors have highlighted their NFT trading achievements in light of Frame's airdrop announcement.
$300,000 in royalties is wild considering my total deposit into NFTs was $3000 two years ago lmao https://t.co/a2gOdgcN5K pic.twitter.com/WUQp25Qeee
— Cirrus (@CirrusNFT) December 19, 2023
