MCL Crypto Bats
The MCL Crypto Bat NFTs are a unique collection of Bat NFTs that are backed by wrapped cryptocurrency assets whose values range from $25 to $100. The MCL Crypto Bats are tradable on the Jump.trade marketplace and playable within the Meta Cricket League ecosystem.
The MCL Crypto Bats Drop are divided into two phases, namely:
Note: There are a total of 4,000 units of MCL Crypto Bat NFTs that will be dropped in 2 phases. The Phase 1 Drop of MCL Crypto Bat NFTs took place in December 2022. The Phase 2 Drop of MCL Crypto Bat NFTs will take place at a later date.
Proof-of-Reserves is a way to allow users to check the on-chain balances of the various cryptocurrencies backing the different MCL Crypto Bat NFTs. You can view the balances in the smart contract on the Polygon blockchain.
Note: For MCL Crypto Bats: Phase 1 Drop, the bats will be backed by the following three wrapped crypto assets — wBTC, wETH, and wMATIC.
Every time a MCL Crypto Bat NFT is traded on the Jump.trade marketplace, all Genesis MCL Signed Bat NFT holders who have opted-in for the yield program will receive a share of the royalties.
Note: All MCL Crypto Bat NFTs carry 1% royalty. For the Yield Program, this entire 1% royalty amount is given to the holders of the Genesis MCL Signed Bat NFT, irrespective of the bat category they have opted-in. This was done in the best interest of the community and to benefit all Genesis MCL Signed Bat Holders who opted in equally.Note: Genesis MCL Signed Bat holders will be able to generate and enjoy Yield for a period of one year from inception. This period can be extended based on the popularity of the program.
Users will be able to burn an MCL Crypto Bat NFT and the wrapped crypto asset backing it will be withdrawn to their Jump.trade account. The NFT will be sent to a burn address, removing it from circulation permanently.
Note: To qualify for the burning of an MCL Crypto Bat NFT from the Phase 1 drop, users must complete certain in-game activities. For example, use the MCL Crypto Bat NFT to play in x number of special tournaments over a period of time, etc. Exact details of the burning process in January 2023.
Disclaimer: The above explained concept and its data attached are subject to change. However, the process will have only a positive impact on MCL and its users.