PFTs are still under development. They will first be deployed in a beta test on PFTswap.com for several projects bootstrapped by Pelenia, including Enter the PLVRS and Pelecans & Friends*.*
Pelenia is the first community to use PFTs in action.
PFTs are Project Fun Tokens, the intersection of NFTs and standard fungible cryptocurrency tokens.
PFTs are utility tokens that act as exclusive membership markers for “Pelenium,” which can be considered a micro-DAO within Pelenia that exists for the duration of a project. Project creators can choose how democratized the project is based on the early distribution of PFTs.
PFTs expire, depending on the type of project for which they are being applied. The deadline pressure is meant to inspire the necessary progress and communication by creators with their communities.
PFTs are special access passes to a community, a creator, or both. They can serve as voting tokens for decision-making, tickets to an event, or raffle tickets for special NFTs from the project.
Like many NFTs, PFTs are sets of algorithmically generated images. Each PFT image is unique and can act as an avatar, nametag, or character in a project’s community activities.
A PFT token contract has a max supply. It can commonly act as a fungible token contract (ZRC-2/3) and be used in swaps; however, it has 0 decimals so it is technically a non-fungible token.
But in a PFT contract, each token should be able to act like an NFT (ZRC-1), where there is a CID that can be linked to IPFS data via the front-end.
It’s an NFT contract with a max supply; however PFTs can be held and transferred in bulk quantities like a fungible token (ZRC-2, ERC-20, et al)
Thoughts: