NFT boom is still on and appears that it is going to last for a long time. Many NFT projects are coming up with their innovation and investors are moving into these projects as early adopters given what it will bring for them in the future.
However, there are still some challenges facing NFT in the crypto sphere.
The inability to have a use case is one problem, and some investors have thus seen it as something that doesn't worth the stress. Secondly, The inability to have an automatic marketplace where sellers have to swap the NFT for cash is something that is discouraging.
Some new NFT projects have started creating value for their NFT, and this is changing people's mindset about this non Fungible digital asset. It ranges from staking of NFT to earn the native token of the NFT project to token burning which gives the NFT value with each burn. I will highlight one of such projects here and in my next post, I will bring up another one.
Polychain Monster ( PMON )
This is an NFT platform built using blockchain technology while borrowing the idea of the 90s Pokemon trading card. In their ecosystem, there are Booster Packs' through which newly animated monsters are distributed, where you do not know which ones you’ll get from the pack (if you are lucky, you can get monsters with high rarity), collectible NFT Polkamons, and PMON tokens which you use to buy them.
HOW CAN YOU GENERATE PASSIVE REWARD BY HODL POLY CHAIN MONSTERS?
Before we go into this, let me show you some of the features that make this project awesome. With each swap ( buying and selling booster opening) PMON is burnt and this, in turn, gives more scarcity to the NFT. The PMON can be staked and a minimum of 10 PMON stakings gives you a Colchian Unidragon protecting staked assets.
NB. You must keep this dragon in your wallet because anyone who has it can access the staked tokens.
The booster pack opening is done with 1 PMON and you can be lucky to open a pack and find a monster with a rarity that can worth up to 20 BNB. With 1 PMON which is currently worth $11.20 at the time of writing this post and with an all-time high of $62 gives you three polychain monsters. These monsters have different colors and horns which determine their rarity
This is just for this particular NFT. The rarity varies. Other monsters include
an many more
The NFT can be staked and in return, you will earn PMON. However, you need to understand that what you earn depends on a point system calculated based on the rarity of the NFT. If your NFT is of high rarity, your point will be high and you will thus earn higher PMON. There is no need to carry out a smart contract before you can earn by having the NFT, you just need to hodl the NFT. For more details see here
So, if you are looking for a good NFT project, I advise you to check out Polychain Monsters here, it has many ways that you can benefit from. If you have any questions feel free to drop them. You can sell the monster for BNB in Sci. finance
All images are screenshots from the official website which can be seen above.