Cryptox has announced a major change to its Historical digital collectibles project. Starting Feb. 13, the price of Cryptox articles minted as nonfungible tokens (NFTs) will increase from $20 to $100 and the maximum number of copies will decrease from 10 to three. The Historical collection is an archival project that allows readers to mint unique, one-of-a-kind NFTs of Cryptox articles, preserving them as historical records of the blockchain industry. Readers can mint stories they think will become valuable by clicking the “Collect” button in the article.
CHECK OUT THE COINTELEGRAPH HISTORICAL COLLECTION
The move is aimed at articulating the value of Cryptox’s articles and ensuring their scarcity. Each article represents a historical record of the blockchain industry, documenting the most important events, trends and figures in the space.
Ivan Sokolov, founder of Mintmade — the platform behind Historical — said, “We understand that investors may be focused on secondary sales and trading volume, but at Mintmade, we have always prioritized primary sales and user experience.” He believes the move will also bode well for the future utility of the collection and allow the company to build upon the total trading volume, which is currently less than 1 Ether (ETH). “We have been transparent about our sales and have generated around 11 ETH ($22,000) in revenue so far. This revenue will be used to improve our product and attract more users.”
Mintmade plans to roll out several new features through Cryptox, including a “Latest Mints” widget on the homepage, enabling anyone to highlight articles and topics they think are valuable. A list of an article’s collectors will also be displayed within the article. Additionally, Mintmade has already introduced a “Minting Points” system, which allows users to earn free tokens that can be used to purchase the digital collectibles.
The new pricing structure and copy limits will take effect starting Feb. 13 and only affect newly published articles. The team is also looking forward to seeing the community’s response to the changes and will continue improving Historical to deliver more features to holders.
