Frame.xyz, a Layer2 platform for NFT transactions created by ERC-721 author @0xCygaar, has announced the completion of a new round of financing and opened up an airdrop for users who have traded NFTs on the Ethereum mainnet in the past two years.
Focused on creating a Layer2 platform for NFT transactions, Frame.xyz announced today on X that it has successfully completed a new round of financing. While the specific amount has not been disclosed, it is evident that several heavyweight investors, including Electric Capital, Ray Chan, the founder of 9gag, renowned entrepreneur Luca Netz, and former CEO of Sushiswap 0x Maki, have participated.
Created by the author of ERC721
It is understood that Frame was created by @0xCygaar, the author of the NFT standard ERC-721. One of the highlights of the project is its close integration with Ethereum and its innovative application of Arbitrum Nitrostack. The combination of these technologies not only allows Frame to provide lower transaction fees and faster block times but also maintains equivalence and compatibility with the Ethereum Virtual Machine (EVM).
On the other hand, Frame’s Palette protocol, as another core feature, demonstrates support and protection for the rights of creators. This protocol provides an unpermissioned platform at the client level, allowing users to freely create markets. It provides creators with a more open and free market environment. In addition, Frame has also launched a creator fund to support creators and participants in the ecosystem through the use of Gas fees on the Layer2 network, ensuring that creators can receive the royalties they deserve.
Airdrop for users who have traded NFTs
Frame launched its testnet in November this year and plans to launch its mainnet and native token $FRAME on January 31, 2024. According to the official website, anyone who has traded NFTs on the ETH network in the past two years has the opportunity to receive an airdrop of $FRAME. According to the official process, by connecting their wallet to their Twitter account and sharing Frame posts on Twitter, users can view the amount of $FRAME tokens they can claim after protocol authentication. However, currently, recipients can only view the balance and the ability to transfer to wallets will be available in the future.
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0xCygaar
Frame.xyz
layer2
NFT