What is an ENNFT?
ENNFT stands for EarthNode Non-Fungible Token. ENNFTs are unique non-fungible tokens for EarthNode Operators that represent their ownership of an EarthNode. EarthNodes are the brain powering the Sharing Economy of World Mobile, the first mobile network owned by the people and built on blockchain.
A Non-Fungible Token (NFT) is an asset that has been tokenised via a blockchain. In this case, an ENNFT is an asset on the Cardano blockchain. The ownership of an NFT is recorded on the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded on digital marketplaces.
ENNFTs were made claimable on January 4th 2023 to all eligible EN owners. Individuals who managed to reserve an EarthNode when they first came out in October 11th 2021 and held 100,000 WMT for each EN during this time could claim their respective ENNFTs. Meanwhile some bought their ENs during the EN auctions in the summer of 2022. There were only ever 1000 EarthNodes in existence meaning there were only 1000 ENNFTs to claim.
The claim process was implemented in the Vault. EarthNode Owners (ENOs) had 1 month, until the 5th of February, to claim their ENNFT or risk it being forfeited. ENOs would lock up 100,000 WMT in a smart contract in order to receive their ENNFT. ENNFTs could also be forfeited to receive back the 100,000 WMT at any time in the Vault. This means an ENNFT is never worth less than 100,000 WMT.
This was a major milestone as, for the first time, ENs became decentralised. ENOs were free to move their ENNFTs to different wallets and different vaults.
Last modified 1mo ago