Nifty Tailor, an NFT fashion platform, today announced the successful sell-out of the Nifty Tailor Genesis Mint – the first on-chain verified derivative collection for Bored Ape and Mutant Ape Yacht Club holders. Launched in collaboration with open-source software technology company, Smart Token Labs, the 2,500 derivative NFT mints sold out within one hour on April 10. Bored Ape and Mutant Ape derivative NFT sales on the secondary market have topped 100 ETH in the first 48 hours following the sale. The Nifty Tailor Genesis Mint ushers in a new era in Web3 technology by enabling unique collaboration opportunities for all NFT holders and brands entering the Web3 ecosystem.
The successful sale by the OG Ape tailors highlights the high collector interest in utility based projects developed by reputable community members. The IP holders from Bored Ape Yacht Club and Mutant Ape Yacht Club can use their original NFTs to create derivatives with custom outfits, brought to life by renowned Ape fashion designers, and earn perpetual royalties from the secondary sales.
“The Nifty Tailor Genesis Mint hints at what is possible for derivative NFTs, both in terms of meaningful utility and the massive secondary value for brands entering the world of Web3,” said Smart Token Labs Co-founder and CEO, Victor Zhang. “TokenScript provides a smart token interface that enables us to make tokens smart. We view NFTs not only as digital collectibles, but as bridges to Web2 brands, websites or membership programs. The possibilities are endless, open, and permissionless.”
Started as a fun fashion project between two Ape friends, Nifty Tailor has evolved into a full-fledged fashion platform for BAYC, MAYC and other popular NFT collections. Universally beloved and respected in the Ape community, Nifty Tailor are on the path of bringing exciting collaborations with famous fashion brands to the platform, adding favorite designs from renowned artists and extending the utilities for all derivative holders.
“We believe this genesis mint only scratches the surface of what is possible for the evolution of NFTs,” added Nifty Tailor co-founder Kryptoragazzo. “TokenScript brings NFTs a new layer of value and utility. Styling digital collectibles will be the next wave of Web3 identification.”
Under the hood of the Nifty Tailor platform is a series of custom smart contracts developed in-house by Smart Token Labs. This derivatives smart contract framework has been designed with the IP holder in mind, ensuring fair and super secure interactions. Next on the roadmap for SmartToken Labs is taking advantage of the open-source technology package they have been building since 2018. Their TokenScript Brand Connector acts as an activation bridge for Web2 brands and NFT collections and can be configured to interact with any coin, NFT or a derivative – providing endless possibilities to build unique experiences and utility around NFTs.
Smart Token Labs and Nifty Tailor intend to partner on a long-term basis, and will actively look to extend to other popular NFT collections and facilitate future drops.
To learn more about Smart Token Labs, please visit: smarttokenlabs.com. To check out future Nifty Tailor mints, see niftytailor.com or join the community Discord.
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