HonestNFT, the community making non-fungible tokens drops free, fair, and equitable, has successfully launched new vigilante non-fungible tokens (NFTs) to compensate its analysts and coders, identifying NFT shortcomings and other bad actors within the ecosystem.
In a March 8 announcement, Convex Labs, the team behind Vigilante’s non-fungible token development, confirmed the official launch of the Vigilantes tokens to support its mission to curb people with bad faith within the NFT industry. Both the presale and the Dutch auction reserve will be 0.1 ETH.
The drop will feature 3,777 unique masked NFTs with different traits available for purchase for both masculine and feminine versions of the NFT “Vigilantes.” These Vigilante NFTs are available for sale since March 7, with the first batch of 600 Vigilante NFTs trading for 48 hours. The remaining Vigilante NFTs will be available for minting starting March 9 until the supply runs out.
While commenting about the crypto development to safeguard the NFT industry, Ricardo Rosales, CEO of Convex Labs, stated:
“As NFTs become more popular, bad actors are tipping the scales in their favor to receive an increased chance of receiving rare NFTs, undermining hard-working creators and honest investors.”
“We want to build a community that fights such exploits while making NFTs more equitable, and the Vigilante NFT will help directly contribute to future activities serving HonestNFT’s mission while scaling up both the numbers in our community and the numbers of NFT campaigns we can target.”
HonestNFT Aims To Track All NFT Activities
According to Convex Labs, the new project, which resembles the Ethereum bug bounty program, can be efficiently used to track NFT launches and grade them based on a metric called Honestscore. HonestNFT project will now allow the crypto technologist to earn ETH, NFT, and other rewards for finding dishonest drops or improving the project’s codebase.
Notably, the highly anticipated HonestNFT project has been under development at Convex Labs, a crypto innovation network led by former and current leaders of the Stanford Blockchain Club with expertise in blockchain forensics, quant trading, organizational design, and venture capital.
In the past several months, Convex Labs have been releasing guides, frameworks, audits, and case studies, aiding NFTs creators and collectors in better understanding NFT vulnerabilities. As part of its efforts towards transparency, Convex Labs will continue posting helpful guidelines and identifying awful perpetrators.
About Convex Labs
Convex Labs is increasingly becoming popular with the emergence of HonestNFT, following its relentless efforts to reshape the future of innovation and work within the NFT Industry. The company was founded by former and current leaders of the Stanford Blockchain Club with expertise in Blockchain Forensics, Quant Trading, Organizational Design, and Venture Capital.
The team generates insights commercialized through market-making, investing, development consulting, and incubation. In the meantime, the research team now focuses on identifying security vulnerabilities and inefficiencies within the rapidly evolving world of public blockchains.
According to the company, the crypto industry poses trust issues, despite trust-less interactions. Nonetheless, the research team believes public blockchain will become robust in the future to solve some trust issues.
