The former CEO of now-defunct cryptocurrency exchange Mt. Gox has announced that certain users will be eligible to receive non-fungible commemorative tokens, or NFTs.
In a Monday announcement on Twitter, Mark Karpelรจs said that crypto users who were clients of Mt. Gox between 2010 and 2014, during which time the exchange was hacked and subsequently declared bankrupt, could register to claim a free NFT. According to the CEO, the offer was extended to users who claimed losses from the defunct exchange or had a balance.
โMt. Gox customers are early adopters, some of them were on BitcoinTalk when Satoshi Nakamoto was still posting,โ the project website said. โA new token or NFT airdrop is a great way to attract users and , at the same time, erase some of the loss suffered on Mt. Gox."
You can claim your @MtGox NFT is https://t.co/uUVPsXtCYC if you were a MtGox customer between 2010 and 2014. NFT is airdropped free of charge and is available regardless of whether you had a balance or filed a claim with bankruptcy.
โ Mark Karpelรจs (@MagicalTux) March 28, 2022
Mt. Gox users must verify that they were clients of the exchange who registered accounts before February 25, 2014. NFTs will be ERC-721 compliant, issued on the Polygon blockchain, and identified according to account numbers. of Mt. Gox from users. as well as your remaining balances in Bitcoin (BTC) and Japanese yen, although including the balance is optional.
โA hard-coded limit will prevent any NFT outside of the range of Mt. Gox accounts from being created. This minting method will not have an owner-only limitation, but instead will require an externally signed token to be issued to users who have completed verification.โ
First launched in 2010 by programmer Jed McCaleb and later bought by Karpelรจs, Mt. Gox was once one of the largest exchanges in the world. However, a 2011 hack that resulted in the loss of 850,000 BTC ($460 million at the time and roughly $40 billion at press time) as well as the collapse of the exchange left thousands of penniless cryptocurrency holders.
Nobuaki Kobayashi, the trustee of Mt. Gox, has worked to compensate the exchange's creditors for years. announcing in November 2021 that a rehabilitation plan filed in the Tokyo District Court had become "final and binding." However, according to the NFT memorial website, the NFTs are "entirely separate" from the Mt. Gox bankruptcy case and "100% self-funded."
Although the recently announced NFTs are apparently the only โofficialโ ones to come out of the Mt. Gox collapse, some crypto users have latched onto the controversy surrounding the exchangeโs hack and bankruptcy since 2014. One of the cards from Spells of Genesis, a blockchain-based game with trading cards, parodies a photo of cryptocurrency trader Kolin Burges protesting outside the stock exchange's headquarters in Tokyo in 2014 with a sign reading "Where's our money?" The game issued 700 of the 'Gox, the Fallen Mountainlord' cards in 2015.
Related: Bitcoin Whales Plan to Buy BTC Higher as New Mt. Gox Payments Raise Market Fear
The white paper of the project also said NFTs could be modified to include art after being published and hint at other use cases:
โHaving a Mt. Gox NFT shows that you are OG. It Was There In The Early Days Of Bitcoin, And Now You Can Try It On The Blockchain [...] it is possible to take advantage of this in the future in ways that are not yet known.โ
Post navigation
