$0.0000000834

RektSkulls is a project that combines utility NFTs with the REKT token, incorporating GameFi and DeFi features like multi-level staking and an in-house auction system. The primary goal is to raise funds for developing an MMORPG. Instead of relying on traditional funding from venture capitalists or selling NFTs for ETH, the project generates funds through ecosystem activity and a token tax mechanism. This approach encourages the team to continuously enhance the demand for the token and NFTs by adding new utilities and mechanics, ensuring that holders always have various options to use or benefit from their assets within the ecosystem.

The REKT token is the native currency of the RektSkulls ecosystem, used for all products, services, and mechanics. It has a 2.5% tax on buy, sell, and transfer transactions, except for interactions with project mechanics like auctions. This tax is the sole source of project funding. 95% of the token supply is obtained through staking Essences and LP tokens, while 5% is reserved for future in-game economic bootstrap. The token includes burn mechanics: tokens from winning Genesis Skulls auction bids are burned, and future mechanics will also burn tokens. Additionally, royalties from NFT secondary market trades are used to buyback and burn REKT tokens.

The distribution of REKT tokens allocates 95% (95 million tokens) through staking over a two-year period, with a 20% reward reduction every three months, similar to a halving mechanism. Staking for Essences (utility NFTs) and LP tokens began on February 1, 2023. The remaining 5% (5 million tokens) is set aside for future in-game economic bootstrap.

The founder of RektSkulls is Dima Gladush, who also serves as the artist. He transitioned to full-time crypto work in 2017 after nearly a decade in a white-collar role at a state company handling international trade. In 2019, he joined daomaker.com as a graphic designer and eventually led their design department until September 2022. He is a DeFi enthusiast who has been passionate about NFTs since early 2021 and considers himself a pixel-artist.