Kirobo unveils NFTs that reimburse gas fees for holders

 Kirobo, a decentralized application developer creating a safer infrastructure for Web 3, unveils a collection of 10,000 utility non-fungible tokens (NFTs). The NFTs will reimburse the gas fees their holders incur from transactions conducted through Kirobo’s Liquid Vault, a non-custodial on-chain wallet with unique security features enabled by conditional transaction technology. The NFTs will also entitle their holders to multiple perks in the Liquid Vault as well as other Kirobo services.

NFTs emerged as a $40 billion market in 2021, largely driven by two main sub-sectors—art, with projects like Bored Ape Yacht Club drawing the attention of mainstream celebrities, and gaming. The programmable nature of NFTs, however, expands their usability and versatility beyond that, enabling development teams to attach extra features to non-fungible tokens. Such functions add utility to NFTs’ sheer artistic appeal, making them a handy tool for crypto enthusiasts and not just a status symbol.

Kirobo’s own utility NFTs will cover the users’ fees on transactions from their Kirobo Vaults up to a limit denominated in $KIRO, the platform’s native token, ranging between 2,500 and 100,000. While the limit will be specific to every individual token, holders can raise it over time simply by using Kirobo’s Liquid Vault through the gamified use-to-save feature. Use-to-save rewards the user for specific actions they do from their Liquid Vault, such as trading tokens, minting NFTs, and accessing DeFi. The rewards push the reimbursement cap of every NFT higher, allowing the user to save more on their transactions. To support the feature, Kirobo will allocate $100,000 worth of $KIRO for gas fee reimbursements.

The NFTs will also grant their holders access to extra features on Kirobo’s Safe Transfer service, which adds an “undo” button to crypto transfer. NFT holders will be able to make up to ten Safe Transfers per month, instead of the regular two, and review up to 20 of their last transfers with the service.

Kirobo will release the NFTs in stages, first enabling minting at a discount in early April, according to a whitelist. Select users can join the VIP whitelist to get access to a limited number of NFTs for free. At the second stage, Kirobo will offer the tokens to the public at a regular price. Users will only be able to mint the NFTs from their Liquid Vaults and will be able to trade them on external markets. Further down the line, the company will unveil more exclusive rewards, benefits, and opportunities for NFT holders, who will be able to use the tokens as proof of membership in a private club.

The art for the NFTs reveals the story behind the company’s own name. The imagery features the antique kirobo coin of Madagascar. In Malagasy, Madagascar’s national language, kirobo means “quarter,” which is an approximate estimate of how much crypto is lost every year due to blockchain’s various infrastructure flaws.

“NFTs are more than a modern way to sell art. Their versatility opens the door to unlimited use cases,” says Asaf Naim, CEO and Co-Founder of Kirobo. “Our NFTs are not just symbols for the community to bond over. Besides highlighting our commitment to slashing the amount of crypto people lose through erroneous transactions, they’ll give holders a tangible benefit that only grows over time, and reward them for the very activities they do on a daily basis.”

“Kirobo NFTs help crypto enthusiasts trade more without losing out on gas fees,” Tal Asa, CTO and Co-Founder of Kirobo. “Their usefulness will only grow with time, and the more active the holders are, the better returns they’ll end up getting. This in itself is a perfect arrangement for a seasoned trader, and the extra perks in the Liquid Vault that the NFTs bring to the table add another layer of utility that users are sure to appreciate.”