IGNIS futures are trading steadily around $4.00 a token (or share in finance terms) as of December 2017. Although the token is not yet available on the public market, there is a way to get in on the remaining 500 million tokens that will be given out at block 1,636,363.
In order to be eligible for an IGNIS token you must own an NXT coin on one of the following exchanges:
HitBTC (staff choice), Bittrex, AEX, Bitcoin Indonesia, Free Wallet, UPbit, or Stock Exchange
Owning 1 NXT = 0.5 IGNIS
The easiest comparison of this practice is kind of like a stock paying a dividend in a very unorthodox way.
Imagine Apple making an announcement stating, “We plan on awarding shareholders a half of a share for every 1 apple share they own. The new share (the half of a share awarded) will derive its value from our brand new company and new technology. And oh yeah, the futures market is valuing our new company shares at $4 already.”
You can picture the faces of regulators at the SEC if they had to deal with this. Although lucrative and unconventional, there are no rules against IGNIS’s additional distribution of 500 million coins.
So how can you make money?
Once the mining benchmark is reached (block 1,636,363), IGNIS’s parent platform Jelurida will take a snapshot using their ARDOR platform (part of NXT) to record all owners of NXT coin, which will result in coin holders receiving 0.5 IGNIS per 1 NXT coin. NXT is risking high volume trading in the coming days because of the increased desire of traders to own their coin for the short term – as the block count gets closer and closer to the benchmark. Ultimately, the prediction is that as soon as IGNIS is distributed to NXT owners, there will be a sell-off of NXT.
While it may seem like “easy money” to be made here, the risks seem to be abundant. No risk, no reward. That is the beauty of this new emerging market.
For the most up-to-date block count statistics of NXT visit Jelurida.com.
How can you buy NXT?
You first need to buy Bitcoin or Ethereum on Coinbase and then transfer it over to your account on HitBTC to buy NXT. If you get stuck or need help, send us a message through our Facebook page or email and someone on staff will walk you through the process.