Bybit Partners with the MIRL Project, to Distribute 1,111 NFTs to Selected Individuals

Bybit cryptocurrency exchange partnered with the MIRL project, a decentralized fashion company that was created in the metaverse. Through the partnership, the MIRL project will gain exposure to Bybit's clients, well above 5 million traders.

Additionally, the crypto exchange will promote the 'FashionFi' movement. The MIRL project is attempting to bridge between the virtual and the real world in the fashion industry.

Bybit purchased 1,111 non-fungible tokens (NFTs) from the genesis collection that will be launched on 10 March. The 1,111 NFTs that were bought will be distributed to selected traders of Bybit.

MIRL NFTs are based on the Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term blockchain.

Ben Zhou, the CEO of Bybit said: "Bybit is keen to support the FashionFi movement. MIRL is a great partner for us because we share similar values such as ethical products like slow fashion to unify sustainability with ethics and creating next level NFT and metaverse projects."

NFT Holders Enjoy Staking Benefits

MIRL NFT holders will benefit from 6.88% APY on Ethereum via flexible staking Staking Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Staking is defined as the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. In particular, staking represents a bid to secure a volume of crypto to receive rewards. In most case however, this process relies on users participating in blockchain-related activities via a personal crypto wallet.The concept of staking is also closely tied to the Proof-of-Stake (PoS). PoS is a type of consensus algorithm in which a blockchain network aims to achieve Read this Term for 30 days on Bybit. Receiving exclusive benefits in crypto staking by holding NFTs is a fairly new concept in crypto exchanges.

Joanna Lim, the Founder of The MIRL Project, said, "We are thankful to Bybit for giving our NFT community exclusive privileges within their platform.

"The idea of NFTs enjoying staking pools on centralized exchanges has never been done before, and this shows Bybit's commitment to the MIRL community and their out of the box thinking in terms of providing value to our community."

Aside from Bybit, MIRL partnered with Solanium, Mintable, CRC Capital and others. Breaking the barrier between the real world and the metaverse is challenging, which is what the MIRL project is striving to achieve.

MIRL NFT drop is expected to take place on 10 Match 2022. The outcome of the NFT drop may indicate the demand for the art project.