Skeleton Squad
Skeleton Squad
Dec 30, 2022 - Jan 05, 2023
Marketplace: Magic Eden Magic Eden
Blockchain: Solana Solana
Tags

Skeleton Squad is a unique and exciting NFT collection with 1000 different characters on the Solana blockchain. The team behind the project has developed the $SKELETON token to allow NFT holders to earn rewards through staking. The project's ultimate goal is to build a brand that is both exclusive and universally recognized. To achieve this, the team plans to establish a DAO community to share the project's vision with its members. You can find all the details of the project's roadmap and plans for the future in its comprehensive Whitepaper. Join the Skeleton Squad and be a part of this exciting journey!

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Explanation of the Key Terms

NFTs

NFTs, or non-fungible tokens, are a type of digital asset that represents a unique item or piece of content, such as an artwork or video. They are stored on a blockchain, which provides transparency and security. NFTs are used to verify ownership of digital assets and can be bought and sold like other forms of property. They have revolutionized the way people value and trade digital content, creating a new market for digital collectibles.

Solana Blockchain

Solana is a high-performance blockchain that aims to solve the scalability issue faced by many other blockchain networks. It uses a unique consensus algorithm called Proof of History, which enables it to process thousands of transactions per second, making it one of the fastest blockchains in the market. Solana also boasts low transaction fees, making it an attractive option for decentralized applications (dApps) and NFT marketplaces.

Blockchain

Blockchain is a decentralized digital ledger that records transactions in a secure and transparent manner. It is the underlying technology behind cryptocurrencies and enables trustless transactions between two parties. Blockchain has a wide range of potential use cases, including supply chain management, voting systems, and healthcare records management. Its transparency and immutability make it an attractive option for businesses and governments looking to increase efficiency and security.

DAO

DAO, or Decentralized Autonomous Organization, is a digital organization that operates through smart contracts on a blockchain network. DAOs are run by members who hold voting power based on the number of tokens they own. They aim to create a transparent and democratic system for decision-making, where all members have a say in the direction of the organization. DAOs are gaining popularity in the DeFi space, where they are used for decentralized governance and funding.

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