Key takeaways:
- Timechain, a provider of yield generating crypto services targeted at Canadian users, is launching a Crypto Cups NFT collection
- Crypto Cups feature unique art style and enticing passive income-generating capabilities for the Timechain ecosystem users
- Timechain app users will be able to stake their Crypto Cups to earn TCS returns and gain a rewards boost on their digital assets, depending on the rarity of their staked NFTs
Timechain, a Canadian-based regulated crypto platform that features a DEX aggregator and plethora of passive-income generating products, will soon be launching Crypto Cups, a non-fungible token (NFT) collection that will provide the Timechain app user base an opportunity to earn exclusive crypto rewards and unlock special perks.
Crypto Cups NFTs are launching on Ethereum and Fantom, bringing exclusive staking rewards to the Timechain ecosystem
Timechain is expanding its rich offering of crypto products and services with special digital collectibles that differ in their rarity and unique design approach. The Timechain team will mint and put up for sale 10,000 items, spanning from the most widely-available “common” rarity items to the most exclusive “unique” level collectibles.
While a lot of emphases was clearly placed on the unique art style of each Crytpo Cup, the team has set utility for Timechain users as their primary goal. First and foremost, the Timechain ecosystem users will be able to stake the Crypto Cups NFTs in the application in return for daily TCS token rewards and a boosted bonuses rate on their TimechainApp digital assets. The rarity of staked NFTs will determine how big of rewards boost users will be eligible to obtain. “Legendary” and “Unique” Crypto Cups, being the rarest items in the collection, will grant the highest rewards levels.
Additionally, NFTs can be stacked, meaning that users can stake ten common Crypto Cups and gain rewards equivalent to one rare, for example. The TCS token rewards earned via NFT staking can be further invested in the TimechainSwap DEX aggregator, which unlocks additional ways of generating passive income on crypto holdings.
Louis Cleroux, CEO of Timechain, talked about the importance of art converging with utility when it came to designing Crypto Cups:
“The Crypto Cups found us, and now it’s our duty to them to let them see the light on Ethereum and Fantom. This is a unique collection designed with special utility for TimechainApp users, but we also believe that holders will enjoy the art. Looking forward to mint day!”
The Timechain team will be launching the Crypto Cups collection primarily on Ethereum. Those who hold three or more NFTs on the Ethereum chain will be eligible to receive one Crypto Cup on Fantom free of charge. The team plans on expanding its NFT offering to other chains, including Terra, Polygon, and Solana, in the future.
The price of the Timechain platform’s native TCS utility token has jumped nearly 12% on the Crypto Cups news and is changing hands at $0.5897 at press time, about 2% removed from its cycle high reached earlier in the day.
