SNEAK PEEK
Blast Foundation introduces direct incentives for memecoins and NFTs to boost cultural projects.
New asset incentives allow projects to allocate gold to native assets, pending foundation review.
Pacmoon migration leads to the redistribution of reserved incentives to previous holders.
The Blast Foundation announced significant changes in allocating incentives to native assets. Pacman shared this move on his X account, highlighting the foundationâs evolving strategy to support decentralized applications (dApps) and native assets more effectively.
there's been a desire to allocate incentives to native assets since phase 1, but at the time a chain allocating incentives directly to third party teams had never been done before. we decided to exercise caution and only allocate incentives to dapps.
now, the foundation team hasâŠ
â Pacman | Blur + Blast (@PacmanBlur) August 8, 2024
Since the inception of Phase 1, there has been a consistent desire to allocate incentives to native assets. However, at that time, no chain had allocated incentives directly to third-party teams. The foundation opted for a cautious approach, directing incentives exclusively to dApps to mitigate risks and ensure controlled distribution.
With the experience gained over time, the foundation team feels confident in expanding their support to include direct incentives for native assets. This strategic shift aims to foster growth and innovation within the ecosystem. The foundation has introduced two new methods to implement this change.
The first change is the inclusion of the Culture Category. Projects belonging to it, including memecoins and NFT collections, are to be incentivized directly. This direct allocation will pave the way for the inflow and inclusion of cultural projects within the Blast ecosystem to boost creativity and society.Â
Before, the incentive could not be spent on projectsâ native tokens, including governance tokens. As reported recently, with the new update, projects can allocate gold incentives to these assets under the supervision of the Blast Foundation. Such change is expected to offer a better Project environment that enhances the use of incentives that directly impact the native ecosystems of the individuals involved.Â
The foundation acknowledges that these changes will bring new insights and learning opportunities, crucial in providing future updates and adjustments. This update marks the beginning of many steps towards a more inclusive and supportive incentive structure.
In a related note, Pacman apologised as early as the migration of Pacmoon before the new distribution was declared. Yet, the foundation is empowering the names and decisions of individual projects and, of course, wishes the same to Pacmoon. The amount allocated for Pacmoon distribution will now go to the earlier holders using a two-week before and two-week after the TGE picture.
The post Blast Foundation Shifts to Direct Incentives for Memecoins and NFTs appeared first on Today NFT News.
