BakerySwap Introduces CAR IDO - A Rare Car Collection

The BakerySwap platform, which is at the forefront of NFTs on the Binance Smart Chain (BSC), has announced a new range of non-fungible tokens called Rare Car Collection. The supporting token $CAR will be made available on the Bakery Launchpad (IDO) on May 5th.

By
Robert D. Knight
on
May 4, 2021
Category:
BSC News

Collectible Car NFT Release

The announcement of the car collection comes as BakerySwap seeks to cement its position as one of the go-to platforms for DeFi and NFTs. Both sectors are still enjoying a hugely successful period, despite a recent slowdown in the NFT market. The car collection on BakerySwap has been designed as a celebration of the growth of $BAKE, $BNB and the BSC ecosystem, with all the branding on the cars designed to reflect this association.

Read more: Current State of the NFT Boom Cycle

Source

Most importantly, $CAR will support a strong deflationary token model, combine it with staking rewards, and also offer the possibility of winning a real-world car with three to be won. The process works as follows: $CAR tokens can be converted into a blind box NFT. Each box contains a car design, but three will also confer the rights to a real-world vehicle.


IDO Details

In the Car Collection IDO BakerySwap will issue 1,000 $CAR tokens. 

IDO amount: 800 $CAR

Price: 2 $BNB

Hard cap: 1600 $BNB

Single address limit: 20 $BNB

No minimum: Users can buy fractions of $CAR

Launch: 6:00 AM UTC on May 5th.

How to Use $CAR

The $CAR tokens will be usable in a number of ways including trading, liquidity farming and staking for $BAKE. $CAR tokens can also be minted for blind box NFTs. NFTs can also be staked. Some NFT boxes will open artworks, but three will open the rights to a real physical car. Those winning vehicles will be branded with BakerySwap and Binance logos.

For more details on participation read: Introducing $CAR IDO — Blind Boxes of BAKE&BNB Co-branded Rare Car 


About BakerySwap

Source

BakerySwap is a Decentralized Finance (DeFi) platform that combines Automated Market Maker elements and NFT capabilities on the BSC. Their Bakery Gallery is positioning itself to be a premier launchpad for NFT artists and creators, with the team constantly working to improve their products.


Closing Thoughts

The introduction of the BakerySwap $CAR IDO will give car enthusiasts yet another reason to get excited about crypto. Recently Elon Musk’s Tesla announced that it was holding $2.5B dollars of bitcoin, but perhaps it’s time that billionaire Musk and his car company diversified with some $BNB, $BAKE and $CAR tokens. BakerySwap’s appeal to consumers has been increased again by this upcoming release.


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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy in ETH and BTC, plus he also hodls some smaller cryptocurrency.

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