Flying Tulip Issues ERC-721 Perpetual Options NFTs in First Sale, Andre Cronje Says NFTs Should Be More Than JPEG Wrappers

Odaily Report: Andre Cronje posted on X platform stating that he has long believed NFTs can and should serve purposes beyond "JPEG image wrappers." The Flying Tulip project issued perpetual options to participants in its first sale, with these options issued as ERC-721 NFTs, encompassing FT tokens and the right to redeem invested funds if the project's direction does not meet expectations. Andre Cronje stated that this design provides investors with "full downside protection while retaining upside exposure." Users can trade FT tokens on the secondary market or purchase PUT options on Flying Tulip's perpetual options market.