10,000 Lotters will be available for 2 SOL each.
After winning Lotters are determined, a smart contract is issued which airdrops the reward to the wallet containing the winning Lotter. All rewards are issued from the Raft and receiving any Lotter Reward does not impact eligibility for any future rewards.
The winner of every Lotter Reward is decided through the use of blockchain random number generation. We use a hash based decoding method to randomly generate numbers and determine winners. The dependability and transparency of blockchain allows for impartial and reliable results. Only Lotters that are held in wallet and not listed for sale on secondary markets are eligible to receive rewards. Winners will be announced in our discord and the time and date used to determine eligibility will be posted clearly in our discord as well.
Initially a smart contract will issue a 4 SOL reward to the Daily Lotter Reward winner. As the Raft and community grows, we intend to increase this amount accordingly. The reward amount will never be less than the initial 4 SOL.
Initially a smart contract will issue a 10 SOL reward to the Weekly Lotter Reward winner. As the Raft and community grows, we intend to increase this amount accordingly. The reward amount will never be less than the initial 10 SOL.
Blockchain tokens can be sorted into two distinct types of assets: fungible and non-fungible. Fungible tokens are identical and replaceable by another identical token; they are mutually interchangeable. They can represent anything from cryptocurrencies like Solana, to currencies used in a video game, to tokenized versions of real-world assets like crude oil or gold. Non-fungible tokens are unique, and thus not interchangeable. A digital art piece that you created, an ownership certificate of a car, or a playable character in a video game are examples of non-fungible assets—they are unique and not directly interchangeable. NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated.
NFT minting is the equivalent of an IPO or ICO. It is simply the initial public sale of an NFT collection and often only occurs once.
NFT royalties are similar to music or other industry royalties. Each time an NFT is sold through a marketplace, a fixed percentage is paid by the seller. These royalties are used to reward other holders and fund project growth.
Yield farm rewards are an example of the passive income benefits that come with investing in the NFT and cryptocurrency space. In a traditional bank savings account your money earns a fraction of a percentage in yearly interest, but in a decentralized and opensource ecosystem the returns are significantly better.
NFT staking refers to the locking up of NFTs or cryptocurrencies on a platform or protocol to receive staking rewards and other privileges. This allows NFT holders to earn a passive income while still maintaining ownership of their NFTs.
Similar to how purchases are made at an online retail store via credit card, Solana users need a way to communicate with blockchain systems to make purchases. In order to do this two things are required: a method for turning real world currency (FIAT) into Solana is needed, and a digital wallet that can safely store your tokens as well as interact with the Solana blockchain. Platforms that swap FIAT funds into cryptocurrencies are usually referred to as Exchanges. These Exchanges usually require ID Verification (Doxing) and can take days or weeks before they allow purchase or withdrawal of cryptocurrencies. Once your funds clear and your purchases are available, these exchanges then deposit your tokens in a digital wallet tied to your account similar to how your bank account holds your currency in an online account. Next we need to move the funds out of the Exchange into a personal digital wallet so that they can be used more freely. These personal digital wallets are often referred to as "Off-Exchange" wallets and they are more easily integrated into most NFT Marketplaces than "On-Exchange" wallets. Below is an overview on the process involved and the top level steps needed to get setup for your first NFT purchase.
Tip: Solana transactions may require a small amount of SOL to be in your wallet in order for the transaction to succeed. Typically keeping 0.1 SOL (minimum 0.05 SOL) in your wallet will prevent a majority of minimum balance based transaction issues.
While it may seem overwhelming at first, we recommend that you do your own research to better understand the NFT and cryptocurrency markets as a whole. Never invest in a project that you don't understand and be weary of scams. A great place to start is over with our friends at https://noob2nfts.com/ which is an excellent resource for beginners and seasoned NFT investors alike.