Santo Mining (OTCMKTS:SANP) stock is on the rise Friday after announcing the launch of its new Skullys NFT website.
Here’s everything investors need to know about the blockchain company’s new NFT plans.
- Santo Mining is planning to mint more than 2,000 NFTs in the coming days.
- It notes that these NFTs will make use of the Cardano (CCC:ADA-USD) network.
- At that same time, the company is rebranding Santpool to Skullyspool.
- This is a proof of stake pool for Cardano delegators that allows them to earn passive income off of the cryptocurrency.
- Santo Mining has pledged to contribute all sales back to Skullyspool to encourage growth.
- Adding to that, certain delegates of the poll will be gifted NFTs.
- This includes those delegates that have handled more than 50,000ADA coins on the pool for more than 10 Epochs.
- Santo Mining’s decision to use ADA for its NFTs has it embracing a different standard than others.
- Most NFTs are made with Ethereum (CCC:ETH-USD).
- However, other crypto coins have been gaining popularity in the NFT space.
- That includes ADA, as well as Polkadot (CCC:DOT1-USD).
- Either way, SANP’s decision to join the NFT market makes sense.
- Plenty of stocks have been benefitting from the NFT boom and that has many shares seeing gains.
Frank Yglesias, the CEO of Santo Mining, said the following about the news boosting SANP stock up.
“Aaaarrrrgggghhhh! from the depths of the Caribbean sea, I have just unleashed from Davy Jones’ Locker an array of NFTs SKULLYS® that will join the Cardano network. As the Cardano network increases we will add multi-functions like augmented reality, geo-positioning, reward coupons, treasure hunting, our unique NFT code A.R.R. (Accept, Relinquish, Reward) just to name a few, kool things.”
SANP stock was up 12.2% as of Friday morning.
The NFT market continues to grow with more companies joining in on the action.
This has quite a few stocks rising alongside NFT plans. A few recent examples include Cinedigm (NASDAQ:CIDM), Color Star Technology (NASDAQ:CSCW), and Funko (NASDAQ:FNKO). investors can learn more about these plans below.
More NFT News
- Cinedigm Believes Its NFTs Will Raise Its Value — But Will They?
- Brighten Up Your NFT-Focused Holdings with Color Star Technology
- For Fun and Profit, Piggyback on the NFT Hype with Funko
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.