Photochromic, a biometrically governed self-sovereign identity platform based on the use of Non Fungible Tokens, had previously announced that their IDO would be available on CardStarter in mid-November. Registration for the IDO opened on Monday, November 8th at 3 PM UTC, and the IDO is set to take place today, Monday, November 15th, at 3 PM UTC.
PhotoChromic confirmed that CardStarter, a Cardano-based launchpad, will host the Initial Decentralized Exchange offering for them. PhotoChromic will use an IDO, a novel sort of decentralized and permissionless crowdfunding procedure, to raise initial liquidity for the project and raise awareness about its project within the thriving crypto community.
The project has a total supply of 15 billion tokens, of which 21% will be sold in the Private Sale and IDO. It’s an ERC-20 token that operates on Ethereum’s native blockchain.
The capacity of the token to connect a user’s identity to assets such as art, collectibles, and documents, which have worldwide usage, is the most adaptable use case. Holders of identity NFT tokens have full control over the protocol and can link their identities to both digital and real assets.
Photochromic will run on several blockchains beginning from Ethereum before expanding to Solana, MATIC, and Cardano.
Participating in the IDO
Cardstarter provided the whitelisted addresses that satisfied the criteria needed ahead of the IDO after all of the stages were completed, and the registration window had closed. Holders of whitelisted wallets can get ready to participate in the IDO.
The IDO will begin at 8 AM PST/ 3 PM UTC and will have a duration of 24 hours. The PhotoChromic IDO has a $405,000 IDO pool and an IDO price of $0.00045. Users can click on this article for more details and see the whitelisted wallets.
PhotoChromic’s ultimate goal is to empower numerous sectors that demand enhanced identity verification by assisting them in the adoption of Web3 for the effective delivery of services and goods. Additionally, PhotoChromic and CardStarter will use this IDO to promote the widespread use of cryptocurrencies and blockchain technology.
A Note of Warning
The crypto and DeFi spaces are uncontrolled spaces, and corrupt individuals are attempting to defraud naïve people by using PhotoChromic’s identity. Here’s how to stay on the safe side. According to Photochromic, their moderators and administrators will never ask a community member for money in any circumstance. Furthermore, PhotoChromic has no association with any third-party whitelisting service. To avoid any confusion, stick to the established channels.
Photochromic addresses the security issues that organizations and governments have when attempting to manage personal data in a way that jeopardizes people’s identities.
This project employs a programmable, verifiable, universally addressable, and digitally secure NFT to tokenize people’s identities.
PhotoChromic is a blockchain-based asset that combines biometric evidence of life, government-backed identity verification, social media proof, and distinct human qualities into an on-chain asset that enables blockchain-based identity verification and Web3 apps.