QaRT Non-Fungible Token to be auctioned by Phemex

According to the latest reports, Phemex has announced that it is also going to adopt the non-fungible token (NFT) technology. Therefore, Phemex has revealed that it will go ahead and launch its first non-fungible token (NFT).

Phemex is a famous futures trading and cryptocurrency exchange platform. The platform has confirmed that it will be creating the NFT in the form of QaRT artwork. Once created, the QaRT non-fungible token (NFT) will be put up for auction. The firm has revealed that the auction is set to take place on April 12, 2021, and it will most likely be auctioned via OpenSea.

It has been revealed that the NFT art piece Phemex is trying to make will be created by gathering thousands of QR codes. For this purpose, Phemex is dependent on its community who can provide it with the required QR codes.

Each QR code will be unique as each one of them has a different address for Ethereum (ETH) deposits. By combining all the QR codes, Phemex will be forming one NFT that will be representing the Ethereum (ETH) deposit addresses for a lot of users.

Phemex has kept the participation process and criteria to be extremely easy and convenient for the participants. The steps that the participants that the users need to follow in order to become a part of the QaRT NFT formation are mentioned below.

The first thing that the users will be required to do is to take the picture of the Ethereum address QR code at Phemex and upload the image using the Gleam campaign.

The second step is to provide the UID that is available to users through Phemex. The third step requires the users to provide the address for the Ethereum (ETH) deposit account. The fourth step is to go ahead and follow the Phemex platform through Twitter.

The users can also make more entries and for that, they can go ahead and acquire more information through Phemex’s website.

The Phemex team has stressed that the Eth wallet address and the ETH QR code that the users are required to provide must belong to Phemex account.

Phemex has revealed that if either of the information provided is from outside sources, then the entry will be rejected/qualified completely. Therefore, Phemex has requested all users to ensure they are providing the correct information to avoid any confusion in regards to the registration process.

Furthermore, each Phemex user must be going through the registration with a single account. If Phemex establishes that there are several accounts joining the platform but they have the same IP addresses, they will also be disqualified.

Furthermore, the accounts with the same GUIDs will also be disqualified from the competition.

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