TechFlow reports that Pons Asinorum, founder of the NFT project The Plague of Frogs, announced on social media that after consulting with multiple lawyers, he has decided to take a groundbreaking step by offering real equity shares in the company to Frog NFT holders.
Each holder will be allocated a proportional share of the company based on the number of unlisted Frog NFTs they hold. The allocation ratio will consider several factors, including the number of snapshots taken since 2022, special allocations for active community members, distributions to project team members, and profile picture (PFP) usage.
The Plague of Frog project entity is currently transitioning from a Limited Liability Company (LLC) to a C-Corporation (C-Corp). Eligible NFT holders do not need to take any action to receive their shares—the sole requirement is holding a Frog NFT. Pons Asinorum stated that he will retain the majority of the company's shares himself.
