Maiar Wizards - NFT collection on Elrond Network

Gabriel C. Gabriel C.
11 Apr 2022
3 min read
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Maiar Wizards - NFT collection on Elrond Network

Maiar Wizards is a collection of 10,000 uniquely generated NFTs on the Elrond blockchain. Marked by clean and tasteful original art made by a small team of dedicated individuals the creators have an eye on the future, growing the project slowly, like a coral reef over time. Unlike many of the more well-known projects, the Maiar Wizards team has avoided using some of the more common methods of advertising on social media. Instead of asking people to jump through hoops to maybe benefit sometime in the future, their holders start getting locked Mex drops just 10 days after one of their NFT's lands in their wallet. Step by step since its inception this project has shown that its priority is to take care of its NFT holders.

The stated ethos is to foster financially stable individuals who can better contribute to their communities, improving life for everyone around them and creating real bonds between real people.

Each NFT represents an equal share of the Community Treasury, with a unique mechanism allowing its holders to redeem their NFT for the value of its share at any time. The Community Treasury is fed by 80% of all sales and royalties generated. Compounding over time by providing liquidity and earning a portion of the fees paid on the official Elrond Maiar Exchange, they have developed a system where each NFT holder's equity value continuously increases. With weekly distributions to Maiar WIzards NFT holders, their system provides small but ever-growing regular returns.

In addition to this basic economic formula, they created the $MAGIC ESDT token, which can be used to buy Maiar Wizards NFTs. Many NFT projects promise a portion of their sales to charity. This was something that was missed in the original road map for Maiar Wizards. Taking the opportunity to bring this much-loved aspect of NFT community involvement into play with their $MAGIC token, they place a percentage of the sales of $MAGIC into a "Magic Pool", a fund used to support local charities.

The community suggests charities they would like to see donations go to, and then they collectively vote to determine which charity receives funds. Encouraging and empowering community involvement and holding true to their community ethos. 

A small but growing project, Maiar Wizards may be early for their particular approach to NFT's, but as the larger and more hyped projects collapse under the weight of undelivered promises and rug pulls, it's small projects like this that can give the NFT community stability in the long run. 

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Gabriel C.
Gabriel C.
About the Author

Tech Visionary & Entrepreneur, Founder & CEO @ Nezo Global