Founder of The Plague of Frogs: Will provide project NFT holders with real equity in the company

Pons Asinorum, the founder of the NFT project The Plague of Frogs, announced on social media that after consulting with multiple lawyers, he has decided to implement a pioneering initiative to provide Frog NFT holders with real company equity (shares). Each holder will be allocated a proportionate share of the company's stock based on the number of unlisted Frog NFTs they hold. The proportionate value will consider several factors, including the number of snapshots taken since 2022, special allocations for active community members, project team member allocations, and the use of personal profile pictures (PFPs).

It is reported that the physical entity of The Plague of Frog project is currently transitioning from a limited liability company (LLC) to a C-Corp. Shareholders in this distribution do not need to take any action to receive their shares, the only requirement is to hold Frog NFTs. Pons Asinorum stated that he still retains the majority of the company's shares.