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Collateral NFT·2022Completed

Collateral NFT Sale

The first collateralised NFT round, backing a Mozambique housing cohort. Standard shape: 11.1% APR, 1-year lockup, 10% reward on buyback.

APR
11.1%
Lockup
1 year
Buyback reward
10%

Collateral NFT Launch

Overview

First Collateral NFT sale (CPT id 9964, published Mar 25 2024, modified May 29 2024). Collateral NFTs let $EMP holders lock tokens that back housing developers' collateral obligations while earning $EMP rewards. Proceeds funded 35 homes in Mozambique, Kenya Phase 1 (2 homes, BrownCap) and Kenya Phase 2 (100 homes, in partnership with EY).

Key Details

  • Launch Date: May 29
  • Price per NFT: 90 $EMP or 900 $EMP (tiered)
  • APR: 11.1%
  • Lock-up period: 1 year
  • Buyback price: 100 $EMP (on 90 $EMP tier) or 1,000 $EMP (on 900 $EMP tier)
  • Reward per NFT: 10 $EMP or 100 $EMP
  • Eligibility: priority to FC NFT and Summit World NFT holders; open to all

Funded Projects

  • Mozambique: 35 homes
  • Kenya Phase 1: 2 homes near completion by May (developer: BrownCap)
  • Kenya Phase 2: 100 homes planned (partnership with EY)

Funding Source

Funds come from the Cardano Summit NFT and treasury. Successfully raised 89,000 ADA from the 2023 Cardano Summit NFT, allocated directly to this project.

Collateral NFT Launch

Support affordable housing and earn $EMP.

What Are Collateral NFTs?

Collateral NFTs provide an opportunity for $EMP token holders to support housing developers to meet their collateral obligations, while also earning $EMP rewards in the process.

How to Earn Rewards

  1. Buy NFT — Collateral NFTs purchased for 90 $EMP each.
  2. Lock $EMP — Initial NFTs lock tokens for 1 year.
  3. Earn Rewards — After 1 year, Empowa buys back NFT for 100 $EMP (11.1% APR).

Supported Projects

  • 35 homes in Mozambique
  • Phase 1 Kenya: 2 homes near completion by May (developer: BrownCap)
  • Phase 2 Kenya: 100 homes planned (partnership with EY)

Eligibility

Priority given to FC NFT holders and Summit World NFT holders; anyone can purchase.

Stats

  • 11.1% — APR
  • 1 year — Lock-up
  • 90 / 900 $EMP — Price tiers
  • 100 / 1,000 $EMP — Buyback prices
  • 10 / 100 $EMP — Rewards per NFT
  • 35 — Homes funded in Mozambique
  • 2 — Kenya Phase 1 homes (BrownCap)
  • 100 — Kenya Phase 2 homes planned (with EY)
  • 89,000 ADA — Raised from 2023 Cardano Summit NFT

Status

Historical — the inaugural Collateral NFT sale (superseded by 2nd and 3rd sales).

Related projects

Other projects in the Collateral family.

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