Next-Level Innovation: Shibarium’s Biggest NFT Marketplace Enhances DAMN Use Case

March 26, 2024

Shibarium’s leading NFT marketplace has officially whitelisted DAMN (SOLKiller) as a recognized currency within its esteemed platform, Mantra. This strategic integration not only amplifies DAMN’s credibility but also opens the floodgates for its utilization as a bona fide currency for transacting in the vibrant world of non-fungible tokens (NFTs).

The announcement, made via the social media platform X (formerly Twitter), was made with a rallying cry to onboard “DAMN holders and get their feet deeper into Shibarium via NFTs,” has ignited enthusiasm and anticipation across the Shiba ecosystem, especially those who hold the memecoin.

By integrating memecoin as a recognized currency for NFT transactions on Mantra, the platform is unlocking new avenues for DAMN token holders to diversify their investment portfolios and engage with innovative digital assets while enhancing the standing of the first-ever memecoin on Shibarium.

Mortinp, the co-founder of Mantra Protocol, in an interview with The Daily Shib, shed light on the rationale behind whitelisting DAMN on its platform. He emphasized that the decision was driven by DAMN’s impressive traction in attracting new users to the platform, establishing itself as the leading meme coin within the chain.

He highlighted Mantra’s capability to whitelist any ERC20 token on Shibarium, noting that DAMN met all essential criteria, including robust liquidity, token renouncement, and strong community backing. Further, he expressed Mantra’s commitment to promoting utility-driven tokens, envisioning DAMN as a functional currency within the Mantra and the broader Shibarium network.

Explaining on a strategic note, Mortinp pointed out the significant business potential, saying, “It would be huge if part of the DAMN economy happened inside Mantra.”

The Mantra co-founder also shared that “The most immediate plans are related to actually onboarding DAMN holders into Mantra and the NFT ecosystem in Shibarium,” noting the crucial role of the team’s “Easter Eggs Hunt” event in achieving this goal.

Following its triumphant debut earlier this week, Mantra’s Easter Egg event has evolved from a team-centric initiative to a Shibarium-wide extravaganza. Launched on Monday, this unique event offers participants the opportunity to acquire NFTs at an unprecedented value, priced at a mere 1 $DAMN — effectively a near-giveaway.

Just a day after the event officially went live, Mantra announced, “The Shibarium community has enthusiastically joined the fray, listing their own 1 $DAMN token eggs on our marketplace, allowing DAMN holders the chance to purchase these unique NFTs.”

While the integration of $DAMN into Mantra’s NFT marketplace marks a significant milestone, the platform’s ambitions for the token are far-reaching. Mantra aims to expand $DAMN’s utility across its entire suite of features, transcending its role solely in NFT transactions. “We want to see it used as liquidity in lending pools for NFTs, and being adopted across other parts of the ecosystem,” Mortinp added.

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