BoredStarter is a new nonfungible token (NFT) launchpad built for the Bored Ape Yacht Club’s ApeCoin decentralized autonomous organization (DAO). Designed using OpenStarter technology, BoredStarter will pave the way with a new model for NFT project launches using the APE token at the core of its operations.
OpenStarter is an Ethereum Virtual Machine technology stack created by Starter Labs to support NFT-oriented DAOs and marketplaces. It focuses on bringing more organization, structure and security to project launches and immediate utility to DAO or marketplace governance tokens.
Its approach to launching NFT projects mimics the decentralized funding model that has made its developer, Starter.xyz, one of the top-ten launchpads in the industry by return on investment.
First, ApeCoin tokenholders are required to stake APE tokens on the platform to join one of the four tiers and participate in voting on new NFT drops. Non-stakers may also participate in minting for lottery or free mint stages but cannot vote on projects.
Subsequently, creators use a simple web form to create new EIP-2981 protocol-compatible NFT collections and drops with various common attributes, including the price per mint, maximum mints per wallet, launch dates and more. BoredStarter supports a combination of whitelisting, public, lottery or raffle, and free minting for drops on its platform.
New collections are then presented to APE stakers, allowing them to do their research and vote yes or no on whether or not a drop should move forward to the minting stage. For projects meeting the minimum yes-vote threshold, their drop moves on to minting and is presented to the entire BoredStarter community for support. APE is the default token accepted during minting, with Ether (ETH) available as a secondary option.
Allowing potential collectors to vet a project before it can move to minting offers a unique approach to the ApeCoin ecosystem. Furthermore, by offering support for whole NFTs as well as fractional NFTs, BoredStarter aims to reduce the barrier to high-quality NFT ownership for average users and increase liquidity for projects using its launchpad.
For DAOs with governance tokens but no products at launch, the benefit of an OpenStarter-backed NFT launchpad that brings immediate utility via real use case is clear.
Starter Labs sees OpenStarter as the standard for NFT launchpads moving forward. It will focus on supporting NFT DAOs and marketplaces seeking a feature-rich, white-labeled launchpad technology stack to integrate with their ecosystems.