Utility

How does the NFT work?

• Once a Messier Objects NFT has been successfully auctioned to a buyer, a smart contract will exchange the M87 tokens for equal amounts of two separate staking token types.

• The original M87 tokens will be sent to the burn address, permanently removing them from the circulating supply. The newly acquired staking token types will be wrapped in an immutable smart contract and bound to the NFT permanently.

• The first staking token type will gain yield from Pool 1 (all M87 token stakers receive yield from this pool) and the second type will gain yield from Pool 2 (Messier Objects NFT holders exclusively receive yield from this pool).

• Messier Objects NFTs will have their own exclusive dashboard in Virgo's user interface.

• Messier Objects NFT holders will be able auction their own NFTs on for ETH via our dashboard.

• Messier Objects NFTs will be subject to a resale fee of 4% and will only be sellable for ETH. All fees collected from the resale of any of the Messier Objects will be sent directly to the treasury of Virgo.

• Messier Objects NFT holders will occasionally benefit from special fees when using Messier's dApps. These perks may include discounts or even full exemption from dApp fees, offering further utility and incentives for holding these NFTs.