Introduction

A HegeCoin NFT was planned and teased at the inception of the HegeCoin project in early April. According to plan, the NFT would be released once the $10 million market cap was surpassed. Having reached that milestone, we are pleased to introduce the widely anticipated Hegends NFT collection.

Collection

There are 2 NFT sets, the whitelist set and the main set. The whitelist set was distributed to HegeCoin donors (“Friends of Hege” members) and will entitle holders to mint a number of main set NFTs depending on donor tier. Additional whitelist spots were available to claim by the public/non-donors. The main set will consist of 2,222 unique NFTs with traits of varying rarity. While there will be future benefits of holding the whitelist NFT, this document will focus on the main set.

With a total of 2,222 NFTs available, they will be distributed amongst the following groups:

• 600 for whitelist members
• 100 for influencers
• 600 maximum for project treasury
• 922 for main sale

The project treasury will be kept by the project for distribution as rewards for community members or for marketing purposes in the future. No more than 90 NFTs from the project treasury will be released per quarter.

Whitelisting will be facilitated through the HEGE official discord. Those on the whitelist are encouraged to review/communicate there for minting details. If whitelist positions are still available, they can be claimed by going to the whitelist channel and requesting a position on the list.

15 Guardians of Hege are responsible for contributing greater than $250k in project donations. Their donations have made the HegeCoin project possible. For their contributions, Guardians will receive an NFT with a 1-1 trait, to commemorate their commitment to HegeCoin.

Utility

Holders of the NFT will be entitled to certain benefits. While more benefits will be announced in the future, a benefit we would like to announce immediately is the Hege dividend.

When an NFT is initially minted, a certain percentage of the purchase (see NFT Proceeds section for breakdown) is deposited into an NFT bank. This NFT bank will be used to purchase $HEGE. Every month, 5% of Hege tokens in the bank will be distributed amongst NFT holders. Each NFT held will entitle a holder to the same distribution from the bank (and if a holder has 10 NFTs, they will get 10X the distribution versus a holder who has 1 NFT). This will have 2 major benefits:

• This provides a floor price for the NFT. The more valuable the $HEGE token becomes, the more valuable the NFT becomes due to the increased dividend distribution.
• Provides an initial boost to the $HEGE price. Since the funds in the NFT bank will be used to purchase $HEGE, this will provide a nice boost to the token.

Additionally, when an NFT is bought or sold on a marketplace in the future, there will be a creator royalty. 4% of the total sale amount will be deposited into the NFT bank, used to purchase $HEGE, and thus increase the future dividend amount.

NFTs listed for sale on the distribution date will not be eligible for the distribution. Also, the wallet holding the NFT must also hold a minimum of 100 HEGE tokens. The holding requirement is primarily in place to prevent the need to create a token account for the wallet, which would increase fees and potentially minimize the overall distribution value.

NFTs will be categorized in 5 standard rarity tiers: Common, Uncommon, Rare, Epic, and Legendary. The dividend payment will vary based on the tier with the rarest tier having the highest dividend payment. Below is a breakdown of the tiers with the dividend payments:

Tier	# of NFTs	Dividend Payment
Common	1111	1.0X
Uncommon	667	1.5X
Rare	333	2.5X
Epic	89	5.0X
Legendary	22	10.0X

NFT Proceeds

NFT Proceeds come from two areas, the initial minting of the NFT, and future buys and sells of the NFT. When an NFT is originally minted, there will be a minting cost.

The proceeds of this will be distributed accordingly:

15% of the proceeds will be deposited into the NFT bank, 10% of the proceeds will be set aside to develop future utility for the NFT, and 75% of the proceeds will be used for HegeCoin project expenses including, but not limited to operations and marketing costs. As mentioned above, the NFT Bank will be used to pay NFT holders a 5% monthly dividend.

Royalties

When an NFT is purchased or sold, there will be a 8% royalty on the overall transaction. Of that 50% will go into the project wallet and 50% will go into the NFT bank.