Announcing the ICON Treasury Buyback & Future Vision

First and foremost, we would like to thank everyone who enthusiastically supported our initial sale. Many editions sold out in mere seconds, with subsequent editions selling out in minutes. While more common tokens remain available at the initial sale price of 15 ICX, the rarer tokens have already generated a robust secondary market on Craft.

Following a successful initial sale of the ICON Treasury collection, ICON Treasury is announcing our plan to implement an automatic buyback with the goal of implementing a stable price floor for the ICON Treasury NFTs on Craft.

Automatic Buyback

In order to help provide built-in value for all ICON Treasury NFT holders and prospective holders, ICON Treasury has placed standing buy orders for any Bronze edition at 15 ICX, the same amount as the initial sale price.

By establishing a firm price floor on the most common asset in the collection, we believe this will create long-term confidence that those who hold ICON Treasury assets will be able to break even at worst (minus the negligible fees charged by the Craft platform).

With a firm price floor set on Bronze tokens, we believe this will create similar confidence in the rarer assets (Silver, Gold, and Platinum); however, if necessary, we are willing to implement standing orders on Silver editions as well, but we do not think that’s necessary at this time.

As of now, all Bronze editions have an existing purchase order for 15 ICX These orders will be re-filled as necessary in order to ensure adequate liquidity, but we believe the existence of these orders alone will ensure they won’t ultimately get filled.

Long-Term Value

ICON Treasury has taken note of best practices throughout the NFT industry to ensure the long-term growth and value of NFT projects.

Over the coming weeks, we look forward to rolling out additional announcements regarding ways to ensure long-term value for ICON Treasury NFT holders.

Additions to the core ICON Treasury collection will be developed in a manner that doesn’t dilute the original vision nor value of the ICON Treasury collection, and future distributions will be aimed toward existing ICON Treasury NFT holders to prioritize token holders and ensure incentives are aligned toward long-term value and not short-term profit.

To be part of this discussion and development, please join us in our Telegram channel or follow us on Twitter.

Thank you to everyone who made the ICON Treasury sale a successful one, and we look forward to continue growing the project.