invezz.com
Satoshi Island, a crypto-centric private island in the South Pacific nation of Vanuatu, has moved another step towards the highly anticipated minting of its first Citizenship NFTs.
The island, which aims to become the crypto capital of the world, announced this when it revealed integration with Chainlink’s Verifiable Random Function (VRF) in a press statement shared with Invezz Friday, 1 April.
The team at Satoshi Island said it had received authorisation from the Vanuatu Ministry of Finance, a move that now allows it to mint Citizenship NFTs. The team hopes the island will offer holders the chance to be part of “a real-world, blockchain-based democracy.”
A citizen – the holder of the NFT – will benefit from aspects such as voting rights on island governance, an invitation to a private opening and automatic whitelisting to future mints and airdrops.
A fair launch
According to the team, 21,000 Citizenship NFTs are available, with the collection split into a further 21 editions. Some of the NFTs will be “rare and more valuable” though, and Satoshi Island has elected for a fair launch.
It means the process will be decentralised and open – no pre-minted NFTs, early access or allocations. The Chainlink VRF will thus help ensure everybody who applied for the island’s citizenship gets a chance to try minting the rarest of NFTs.
About this, the team said:
Chainlink VRF is integral to ensure the transparency and fairness of our Citizenship NFT minting process. The tamper-proof RNG with on-chain proof helps provide our community with the transparency it demands. Ultimately, we aim to create a truly democratic blockchain-based governance system for our island, making a verifiably fair NFT mint is a crucial first step.”
The technology will introduce randomness to the minting smart contract, ensuring each individual participating in the process gets a completely random Citizenship number.