What is it?👀
Artists and Collectors will be able to stake their NFTs for hourly rewards from a community prize fund.
Staking NFTs will allow Artozo Platform Users to stake their NFTs to receive a share in an allocated Prize Pool. Staked NFTs will be “locked” for the duration of the Staking period and the NFT owner will claim a share of the total Prize Fund according to the Level of the NFT they have Staked.
How does it work?🚀
A prize fund is allocated for each Staking promotion – a fixed amount of reward in ARTZ tokens. During the validity period of the promotion, NFT after meeting its requirements can be “Locked” for any period within this promotion, bringing its owner a share of the prize fund.
When an NFT has been designated for Staking it is considered “Locked” and the User cannot perform any transactions or actions with that NFT until it has been Reclaimed or the promotional Staking Period has expired. Specifically the NFT cannot be sold, withdrawn to an external wallet or Leveled up and it cannot be used to open access for a User to the Rewards of its corresponding Line Level.