As an endorser, you can unlock financial opportunities by staking capital on your favorite NFTs, reaping benefits, and collecting assured returns.
A novel creation of 7Pixels, Endorsers are a new segment of stakeholders in the NFT ecosystem. Endorsers are community members who stake capital against NFTs in the 7Pixels liquidity pool to unlock financial opportunities. Staking against an NFT indicates support/endorsement, which will in turn enable community-driven appraisal of the digital asset. Endorsers will enable the market to determine the fair valuation of NFTs or the underlying assets they represent. For their service to the community, endorsers will receive economic benefits in the form of staking rewards.
Endorsers can stake their tokens against those NFTs where its creators have enabled staking. Once a new NFT with a staking feature is listed, endorsers will get a limited 3-day window to evaluate and decide whether they want to stake their tokens or not. Even if have already staked early on, they can withdraw their stake before the deadline. Once the staking window closes, the capital will be locked in the 7Pixel liquidity pool until the staking period ends or the NFT is sold to the highest bidder.
As a reward for their participation, endorsers will receive token rewards for the entire staking duration from the 7Pixels liquidity pool at a predetermined APY. The rewards issued will be proportional to each endorser’s stake against the NFT and the staking pool.
In the event the NFT gets sold, endorsers will receive a percentage of the asset’s selling price as defined by the creator, shared proportionally according to each endorser’s stake against the NFT. The rewards from shared proceeds will be on top of the staking rewards issued by the 7Pixels liquidity pool.