$WHALE is a social token backed by rare and valuable NFT assets, which are held in “The Vault”, a publicly audited collection on the OpenSea NFT marketplace. The assets are actively managed by the WHALE DAO and the WHALE team, led by WhaleShark. As a social token, its value is not only dependent on the valuations of NFTs held in the Vault, but also on the strength of the Whale community. It adopts a community-centric approach, by ensuring that loyal members get exclusive benefits for their commitment and contribution to the growth of the project.
WHALE was launched in May 2020 by WhaleShark, a pseudonymous Non-Fungible Token (NFT) collector who has been a key player in the business of collecting rare and valuable NFTs since 2019. He launched the project with the intent of fostering a community of NFT collectors who are driven by the passion of preserving rare digital art and collectibles for the long-term future.
The WHALE token came in as an incentive to protect their interest by deriving its value from the worth of the assets they collectively own. This was the first-ever NFT social token created which is backed by rare digital arts and collectibles held in the WHALE Vault.
At launch, the Vault was a collection of NFTs personally owned by WhaleShark and exclusively managed by him on behalf of the community. However, with the introduction of the WHALE DAO in September 2020, the community gained control over the Vault, allowing WHALE token holders to vote on decisions about the project’s community, budget, events, and management of assets in The Vault. The WHALE Vault is now home to thousands of rare and valuable NFTs, ranging from gaming, art, and virtual real estate to other collectible assets, which is regularly audited by NonFungible.com, and its collection are publicly available on the OpenSea NFT marketplace.
As of January 2022, The Vault is valued at over $150 million and contains over 13,000 individual assets in the portfolio. In its effort to reward creativity within the Whale community, it launched its NFT mining in August 2020. This initiative introduced DeFi into its NFT space, by rewarding Creators who stake their curated NFT for exclusive sale through the Whale Vault subject to the agreed terms.
Additionally, it launched the $WHALE Liquidity mining program as part of its commitment to “DeFinalize” $WHALE. It allowed $WHALE holders to earn more $WHALE by providing an ETH/$WHALE liquidity pair through its liquidity pool on Uniswap.
In addition to Uniswap, $WHALE can be traded on some of the most popular centralized exchanges like Gate.io, Huobi, and the most recent listing happening on Kucoin in Q4 of 2022.