3. NEO-NINJA Update
The NEO-NINJA NFT collection was launched with the opening of the Raydium Fusion-Pool that offered incentives in $NINJA for providing $NINJA+$USDC liquidity.
With challenging market conditions the collection lost momentum and failed to sell out.
The mechanics were adjusted to include a buyback mechanic.
Followed by the release of the NEO-NINJA dashboard and the NEO-NINJA game.
The NEO-NINJA metaverse was created with wallet integration and the ability to challenge other players in a top-down puzzle solver.
Future plans included building out the world with more custom 3D character models and assets.
Despite these efforts, the NEO-NINJA collection continued to fail in attracting new minters for the past 6 months.
Due to the failure to complete the mint over this extended period, we have decided to shelf the NEO-NINJA NFT collection and game.
- With the end of the Raydium Fusion-Pool emissions, the liquidity locked to the pool will be evenly distributed to all NEO-NINJA NFTs.
- Snapshots will be taken of existing holders and a draw for free mint tickets for the remainder of the NEO-NINJA NFT collection will take place.
- Unminted "22" and the "Golden Ninja" NFTs will still payout their respective $NINJA rewards after being minted regardless of being a paid or free mint.
- The liquidity distribution for the buyback wallet will be split between the "22" and "Golden Ninja" NFTs.
- Half of the buyback wallet distributions will be rewarded to the "Golden Ninja" NFT and the other half will be split between the "22" NFTs.
- NEO-NINJA NFT collection will still continue to participate in the Ninja Protocol ecosystem despite the development of the NEO-NINJA collection being shelved.
Refer to the following chart for how the liquidity pool will be distributed.
One of the main functions of the NEO-NINJA NFT collection was to create a mechanic where the collection will be able to retain its value by placing the mint fee into the liquidity pool that earned $NINJA emissions for holders.
NEO-NINJA NFT holders have collectively been paid $22,157 in $NINJA emissions and $980 in royalties thus far.
August 29th NEO-NINJA update
Holders have also been airdropped NINJA-PIXEL NFT mint tickets for free providing a growing 0.25 $SOL value with our other NFT collection.
As mentioned above, the NEO-NINJA NFT collection will continue to be a part of the Ninja Protocol ecosystem.