Truegems: A Newly Launched NFT Platform on Flare Network

Truegems is the first NFT platform on Flare Network, offering rich, new-to-the-network features such as self-minting and an NFT launchpad. The platform’s founders, the FOCUS team (an Infrastructure Provider and Oracle Data Provider on Flare Network), aim to bring to the network solutions that are standard in the broader cryptocurrency space.

1 . But first, what is Flare Network?

Flare Network is an EVM Layer 1 blockchain that utilizes a Proof-of-Stake (PoS) system. The founder promotes the network as the “Blockchain for Data.” This is because the beating heart of the system is the decentralized Oracle protocol called Flare Time Series Oracle (FTSO).

This protocol is integrated into the Flare Network’s base layer, making it more secure and decentralized than other blockchain solutions available on the market. The FTSO relies on hundreds of independent entities, called Data Providers (Focus is one of them), that collect data from various sources, such as decentralized or centralized exchanges,and submit it to the FTSO protocol to be verified.

2. About Truegems NFT Platform

The TrueGems platform was built by the FOCUS team, a trusted Infrastructure Provider on the Flare Network, operating its own validators and Oracle (FTSO).

TrueGems is the first NFT Marketplace on the Flare Network, introducing the SELF-MINT feature, previously unavailable on this network. This significantly lowers the barrier to creating collections and empowers the community, including independent, non-tech-savvy artists.

TrueGems is more than just an NFT marketplace. An NFT launchpad will be launched soon, introducing several enhancements such as an internal WEB3 chat and an advertising module for projects.

Ultimately, TrueGems will become a multichain platform where users can discover the latest projects and interact with each other. In the future, we plan to integrate with other EVM networks and implement Flare’s FAssets (Trustless representation of non-EVM tokens on Flare), expanding the reach, scaling the platform, and allowing users to earn additional rewards in tokens like BTC, Doge, and XRP (thanks to FAssets).

3. Treugems GENESIS collection minting

A few weeks after the launch of the Truegems platform, the team decided to release an exclusive NFT collection -GENESIS. The core idea behind this collection is to share a portion of the profits generated by the platform with GENESIS NFT holders. 

The total number of NFTs in the collection is 2,222, divided into 3 rarities:

• Ruby (1,556 NFTs): With a reward multiplier of x1.0
• Emerald (444 NFTs): With a reward multiplier of x1.35
• Diamond (222 NFTs): With a reward multiplier of x1.99

Benefits for TrueGems GENESIS holders:

• A portion of the monthly revenue generated by the Truegems platform. Rewards from all fees generated by the marketplace will be paid out in $FLR tokens. In the future, this will also include other tokens on the Flare Network, as well as native tokens from the multichain ecosystem.
• Exclusive access to special NFT collections.
• Unlocking all premium features of the Truegems platform.

Currently, the final mint round for the Truegems GENESIS collection is underway. 

Half of the total NFTs have already been minted. This round will continue for another two weeks until October 7th at 5:00 PM UTC, after which any unminted NFTs will be burned.

Truegems GENESIS collection is minted here:

https://truegems.io/genesis

Truegems X account: 

https://x.com/Truegems_io

Truegems website: 

https://truegems.io/

Focus team X account:

focus (@focusonflare) / X