Rug Radio NFT is the first-ever decentralized media platform of Web3.0. They have brought an equally lucrative opportunity for the holders of Rug Radio Membership Pass, a chance to own their very own Rug Radio Genesis NFT!
The Rug Radio NFTs are a collection of 20,000 unique NFTs that can be used as Twitter headers. Each NFT is unique in its own way.
Moreover, the Rug Radio NFTs are not just a bunch of artwork, they also yield a token. The $RUG token which would be generated from holding this NFT can be used as a medium of exchange in the Rug Radio ecosystem. That is, the holders of these NFTs would earn $RUG as long as they do not flip their Rug Radio NFT for short term profits.
|Launch Date||January 11, 2022|
|Rug Radio NFT Mint Price||0.111 ETH|
|Rug Radio NFT Items||20,000|
|Rug Radio NFT Floor Price (Current)||0.32 ETH|
|Volume Traded||2.2K ETH|
The above details stand valid as of 29th January, 2022.
Source: Rug Radio NFT Opensea.
Rug Radio was launched in the year 2021 as a completely decentralized media platform. This was done so that the members, partners as well as hosts on that platform had a sense of ownership of the narrative that was being broadcasted on the platform. All the owners of the platform get to decide what content was to be created and consumed. And purchasing a Rug Radio Membership Pass is the only way in which interested people could have some skin in the game and actually be a part of the Rug Radio community.
Farokh is the Founder of Rug Radio media platform as well as the founder of Rug Radio Genesis NFT. He is based out of Quebec, Canada and is active on social networking sites like Twitter and Discord. He has been frequently interacting with the community on these platforms to help solve their queries about the project and the Rug Radio Genesis NFT.
Another interesting fact about Rug Radio is that the $RUG tokens are the currency of this medium. This makes the Rug Radio Genesis NFT even more fetching, adding a utility dimension to them and not limiting their value to just a piece of art.
Rug Radio Genesis NFT Initial Sale
The minting of the Rug Radio Genesis NFTs started from the day of its launch, 11th January 2022.
Only the people who hold Rug Radio Membership Passes can buy the Rug Radio Genesis NFTs. Moreover, a member can only buy one Rug Radio Genesis NFT per Rug Radio Membership Pass.
The Rug Radio Genesis mint price was 0.111 ETH. The floor price was 0.32 ETH. All the 20,000 Rug Radio Genesis NFTs were sold out by January 17, 2022.
Rug Radio NFT Roadmap Explained.
The goals of this Rug Radio project are extremely ambitious and futuristic.
They have built a media platform in which each participant is an owner and gets to decide the narrative of the platform. Many shows and series have already been proposed by the existing members and would be launched on the platform very soon. The hosts would own all commercial rights to the show.
Moreover, the Rug Radio NFT has been launched which can be used as a Twitter header and would generate the token of the Rug Radio Ecosystem, $RUG over the next five years. The $RUG token would act as the currency of the Rug Radio Network and only the members who would hold the currency for a long time would get rich in $RUG. The $RUG token shall also hold exchange value in future projects based on the RugNetwork.
Not just that, Rug Radio plans on building a Decentralized Autonomous Organization (DAO) in the coming times. The DAO would act as a store of value for the network
Moreover, 11 of the 20,000 Rug Radio NFTs are 1 of 1’s which means they are the rarest out of the collection.
Rug Radio NFT Tokenomics: About $RUG
As previously mentioned, $RUG is the currency of the Rug Radio Ecosystem. The $RUG token will be produced by the NFT and the Rug Bank. 255,000,000 $RUG will be produced in the coming five years. And 1800 $RUG would be equal to 1RDAO which would be used when the DAO would be established. Out of the 20,000 NFTs, 1000 have been allotted to the Rug Bank and the tokens which would be generated by them would be used by the bank to manage their expenses.
How To Buy Rug Radio Genesis NFT
All the primary sales of Rug Radio Genesis NFT took place on their website. Now the only place they can be bought on the secondary market is Opensea. But interested buyers need to first purchase a Rug Radio Membership Pass.
Rug Radio X Victor Mosquera was the highest sold NFT out of the Rug Radio Genesis NFT collection. It was sold for a whopping 24.99 ETH. On the other hand, Rug Radio: Scarce 1 has been the favourite on Opensea.
All this data was collected from Rug Radio Genesis NFT Opensea on January 22, 2022.
Rug Radio NFT Price Prediction
Since Rug Radio NFT has just been launched on January 11, 2022, there isn’t enough technical and fundamental data to make precise price predictions regarding the NFT collectible. But it is noteworthy to mention that as per the data collected from Rug Radio NFT Opensea, the 11,400 unique owners of the 20,000 Rug Radio NFT items have only traded the volume of 2.2 K ETH, which means that the members have utmost faith in the project and are not flipping their NFTs for short term profits.
The concept of a Decentralized media platform is visionary and Rug Radio is the first to introduce the world to it. Their plans of building a DAO and their very own token, $RUG are noteworthy features of this project. We should definitely wait and watch how this project pans out in the near future.
Aakanksha Chaturvedi is a recent Mass Media graduate with a specialization in Finance and Business news. She often writes about financial markets, DeFi, cryptocurrencies, blockchain and NFTs. She is fascinated by the potential of Web3.0 and keeps a watch on latest developments in the field.