Frame Announces Funding Round and Airdrop for NFT Community

Frame's recent funding round and airdrop announcement signal significant developments for the NFT (Non-Fungible Token) community.

Funding Round: Frame, a blockchain platform focused on NFTs, has successfully concluded a funding round. Electric Capital, a notable venture capital firm, led the investment, and other investors include prominent figures such as Ray Chan (founder of 9gag), Luca Netz, and 0xMaki (former CEO of Sushiswap).

Airdrop for NFT Traders: In conjunction with the funding round, Frame has initiated an airdrop of its native FRAME token. This airdrop targets NFT traders who have actively participated during the bear market. While the Frame mainnet is scheduled to launch in January, the FRAME token will not be tradable until a later, unspecified date.

Eligibility and Phases of Airdrop: Traders who have engaged in NFT transactions on the Ethereum blockchain over the past two years are eligible for the initial phase of the airdrop, named 'Chapter 1.' The number of tokens received is based on trading volume and royalties paid. Subsequent phases of the airdrop will reward usage of the Frame network after its launch.

Creator-Friendly Network: Frame aims to establish a creator-friendly network where royalties are embedded at the network level. The governance and ownership of this network will be facilitated through the FRAME token, aligning with the broader ethos of decentralization and community participation.

Addressing Royalty Challenges: One of Frame's primary goals is to address challenges faced by NFT creators, particularly regarding royalties. The platform intends to empower creators and collectors by placing royalties at the network level, a departure from existing marketplaces like Blur and OpenSea, which may not consistently enforce creator royalties.

Industry Landscape: Frame is not the only platform seeking to address the royalty issue in the NFT space. The RARI Foundation recently introduced its own Layer 3 blockchain, RARI Chain, which similarly emphasizes the enforcement of royalties at the node level.

Frame's funding round, airdrop initiative, and commitment to creator-friendly practices signal a noteworthy advancement in the NFT space, with a focus on decentralization, community governance, and addressing challenges related to royalties.

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