Airdrop Pass Beta Launch

We're excited to announce the beta launch of Airdrop Pass (AP), MetaStreet’s latest product designed to empower NFT holders and traders by enabling them to earn fixed yields from holding digital objects or trade future yields (like airdrops) of those objects.

As we continue to build the foundation of Object-Oriented Finance, Airdrop Pass (AP) and its counterpart, Discount Pass (DP), will help transform existing NFTs and other illiquid digital objects into flexible, capital efficient assets by splitting their value into two distinct assets:

  1. Airdrop Pass = representing future yield only [ERC-20]
  2. Discount Pass = representing object ownership without future yield [ERC-721]

By creating these new assets, current market participants (holders, speculators, farmers) will all be able to increase yields, manage risks, and unlock more liquidity in an otherwise illiquid object and NFT market.

Beta Launch Details

The beta phase of Airdrop Pass begins today. During this period, no Ascend XP will be awarded but we will record transactions. The MetaStreet team will closely monitor AP and DP minting and trading activity, providing updates as the community tests the product.

For this beta launch, we’ve partnered with the following NFT collections across chains: Pudgy Penguins & Lil Pudgys on Ethereum and BitBears & HoneyCombs on Berachain.

Read on to get the full breakdown on how both NFT owners and traders can benefit:

NFT Owners: For owners of supported NFTs, Airdrop Pass (AP) and Discount Pass (DP) offer maximum flexibility to tailor market exposure and capture yield potential. Holders can unlock immediate liquidity from future airdrops without selling their NFTs or vice versa. They can manage risk by splitting ownership, selling & LPing that future stream of yields. This LPing allows them to boost yields by providing liquidity for the trading of AP and DP tokens. In summary, the benefits include:

  • Unlocking Liquidity: Mint AP to sell future yields without selling your NFT.
  • Yield Maximization: Increase yield exposure by holding or buying more AP tokens.
  • Flexible Ownership: Access NFT ecosystems with minimal capital.
  • Risk Management: Split ownership to hedge against market volatility.
  • Market Participation: Earn trading fees by providing liquidity in AP and DP markets.

Traders: If you do not have any NFTs in the supported collections, but you want to add exposure (or leveraged exposure) to any of these collections and their future airdrops, you may want to consider buying or swapping AP and DP tokens.

  • Why Buy AP Tokens? AP tokens allow you to leverage exposure to potential yield. Instead of buying one NFT for its airdrop, you can buy multiple AP tokens, multiplying yield without for less than the cost of owning one NFT. A single AP token lets you claim the airdrop rewards equivalent to one NFT.
  • Why Buy DP Tokens? Users might buy DP tokens to own an NFT from an existing collection without needing airdrop yields or to bet on the NFT's future value increasing (eg including all the airdrops AFTER the maturity!). For instance, you could buy a discounted NFT for 9 ETH even though the NFT is worth 10 ETH (so the Airdrop Pass is worth 1 ETH), and if the floor doesnt move price (is still 10 ETH at the maturity), you’ve earned 1 ETH of value.

Conclusion

Overall, Airdrop Pass offers a powerful tool for users looking to leverage their exposure across the four current NFT collections. Depending on beta performance, MetaStreet may expand the offering with more collections and features.

The Airdrop Pass is now available at: https://app.metastreet.xyz/airdrop-pass

If you’re an NFT owner looking to boost yields and unlock flexible liquidity, mint your NFT’s Airdrop Pass and Discount Pass token with these steps: HOW IT WORKS

If you’re a trader looking to gain exposure to a collection or it’s future yields, buy and swap an Airdrop Pass or Discount Pass token with these steps: HOW IT WORKS

Disclaimer: The object market is a highly risky and speculative market, thus assets like AP and DP contain even more risk and speculation. Please make sure you understand the product and risks associated with it before purchasing.