Legion Ventures has officially burnt 50% of our NFT collection.
As a result, the total supply of the NFT collection has been reduced from 1200 to 600. Consequently, the benefits bestowed upon existing NFT holders have been compounded.
Despite not selling out the complete collection, we raised substantial funding to deliver on our vision. We continue to build the upcoming LV Platform and add new features, which we can’t wait to show you as soon as they’re ready.
I’m an NFT Holder. What Does This Mean For Me?
The NFT burn is a significant net positive for existing NFT holders. Holders of Legion Ventures NFTs will benefit from:
- Increased scarcity
- Higher chances of acquiring allocation
- An increased share of the profit split from the Legion Ventures Crypto Fund
There are no actions required on your side. Instead, continue to engage with the Legion Ventures Community and reap your enhanced benefits.
Example
If a deal opens and the total allocation is $100,000
- If you hold Tirones, you are eligible for a $200 maximum contribution on an FCFS (First Come, First Served) basis. Your chances of getting into the deal are 2̶0̶% 33%
- If you hold Principa, you are eligible for a $400 maximum contribution on an FCFS basis. Your chances of getting into the deal are 2̶5̶% 50%
- If you hold Centurions, you are eligible for a $600 maximum contribution on an FCFS basis. Your chances of getting into the deal are 3̶3̶% 65%
- If you hold Primus, you are eligible for a $1,000 maximum contribution on an FCFS basis. Your chances of getting into the deal are 5̶0̶% 75%
- For all tiers: The individual allocation will increase linearly with the total allocation (if the total allocation doubles, then the individual allocation doubles as well)
Burn Details
The total supply has been reduced from 1200 NFTs down to 600 NFTs.
The Legion Ventures Treasury Wallet contained 202 NFTs; we’ve burned 90% of them, keeping just 10% for future partnerships.
From the Legion Ventures Collection, which remained on sale until 6th July 2022, we’ve burned 418 NFTs, roughly 60% of the remaining supply. You can find those transactions here, here, and here.
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To every NFT holder, minter, and enjoyooor, we thank you for your continued support. We’re still on track to prove that a professionally managed crypto fund is the best way to invest in crypto, come bull or bear.
Times are complex, the seas are red, and the future is uncertain. However, beautiful things can happen when the community comes together in times of hardship. Legion Ventures, and our community, have a genuine chance of coming out of this market downturn as a leading VC firm in the blockchain industry.
