@basedevo

The idea that birthed Based was simple: “What if this NFT could be redeemed for something actually on the Base network? What if it became the foundation for a new, community-driven token on Base itself?” This question was inspired by the permissionless interoperability that blockchains enable. We wanted to explore how assets created on one network (Ethereum) could interact with assets on another network (Base) without asking the original asset issuer (Coinbase/Zora) for permission. The concept: let anyone who held the “Base Introduced” NFT redeem it for a new ERC-20 token, $BASED, on the Base network. Ironically, the original Base NFT wasn't actually on Base. It was on Ethereum mainnet because it was a commemorative mint before the Base L2 network was live and active. So we thought let's bring the original Base NFT to Base. No permission from Coinbase. No need for gatekeepers. Just pure, onchain experimentation.

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