Autor Cointelegraph By Alyssa Exposito

NFTs and social capital: How projects are collaborating to the mutual benefit of the entire sector

NFTs and social capital: How projects are collaborating to the mutual benefit of the entire sector

Uverejnil používateľ | feb 21, 2022 |

On Dec. 2, 2021, Bored Ape Yacht Club (BAYC) amassed the attention of culture driven athletic brand, Adidas and cemented their partnership raising both its notoriety and value. RTFKT studios was acquired by Nike and has also garnered the community’s attention by airdropping the first Nike NFT, MNLTH. The MNLTH airdrop lives up to its name as RTFKT introduces a new concept to NFT reveals since the community triggers it. The MNLTH NFT is only revealed once the community collectively completes all the quests to which members are speculating whether the contents are Nike goods. RTFKT is a premier digital brand. Their combo of tech & culture understanding made them a great fit for Nike. The first co-branded NFT dropped earlier this month. The MNLTH (short for Monolith) is yet to be revealed, but speculation is that a Nike digital good sits inside. pic.twitter.com/xSlof0L81q— Greg Younger (@gregyounger) February 19, 2022These new developments show that NFT collections are realizing the value in partnering with strong thought leaders, brands, and communities as a way to increase their overall value in terms of social and investment capital. NFT projects that establish key connections that assist with their social arm and increase the overall floor price value of the collection serve as proof that there is value in collaborations in the NFT ecosystem.Here’s a look at a few projects that are using this strategy to make waves in 2022.FoxFam gains the attention of fellow NFT artistsFoxFam NFT is a project that is quite popular with artists in the sector, notably, Invisible Friends creator, Markus Magnusson, took to the London-based YumYum studio collection along with his wife and fellow artist IraG. We’re sooo excited to reveal the PixelFox species!! PixelFox will be integrated for use in @Worldwide_WEB3 game and will be available for FoxFam 2D genesis holders to mint with $YUM pic.twitter.com/1K0MA6zw4u— FoxFam (@foxfamnft) February 1, 2022

The project has significantly matured since its launch five months ago. According to OpenSea, the average sale price has increased by an astronomical amount over 700%. FoxFam has generated over $19.5 million in total volume. The project has extended its connection in the Metaverse by collaborating with intentionally misspelled World Wide Webb, an interoperable platform, purchasing apartments for Fox owners to enjoy. As such, the creators will grant each FoxFam holder with a 2D pixelated version of their avatar to easily be integrated into the World Wide Webb. FoxFam all-time average price / volume. Source: OpenSeaFoxFam NFT plans to gamify its collection with the launch of a play-to-earn (P2E) game where players can earn YUM tokens and currently collectors and investors can retroactively earn YUM by purchasing the 2D proof-of-profile.We can’t wait for the pixel foxes to hang out and populate the Worldwide Web! Thank you for the welcome ♥️ https://t.co/wTpDPK2p8p— FoxFam (@foxfamnft) February 3, 2022

As a functioning creative studio in London, FoxFam is not YumYum Studio’s first rodeo. The studio has partnered and worked with notable brands and entities such as Adobe, Nokia, Lyft, MTV, and McDonalds to name a few.Given its resume and experience, collectors and investors are looking forward to the execution of its revamped roadmap that includes the launch of YUM, 3D avatars, and its P2E game FoxCity. Coolman Universe Speshies joins Metalink LaunchpadCreated by Danny Casale otherwise known as Coolman Coffedan, Coolman Universe Speshies are a collection of 10,000 colorful species aiming to find their way in the Coolman Universe. The collection launched in December 2021 and Speshies has seen massive growth with over 5,500 unique holders to date. The average sale price has also increased from a modest 0.15 Ether to 2.7 Ether and in the last week alone, Coolman Universe generated over $9.6 million in sales with its average sale price increasing by nearly 120%. Coolman Universe 7-day price / volume. Source: OpenSeaSpeshies recent uptick in volume and unique holders could be a result of its recently announced partnership with the social crypto platform, Metalink. Founded by Jake Udell, Metalink aims to provide its users with the alpha they need to join up-and-coming collections. Gm ☀️ We’re feeling Speshial today ✨@CoolmanUniverse ☕️ pic.twitter.com/I7KJqQxrvh— metalink (@metalinklabs) January 30, 2022

When asked about the partnership, Coolman Coffeedan said, “Metalink is an important utility for our holders,” because its launchpad is a “dedicated space for verified holders to connect with our project.” As a social arm of sorts, Metalink serves as an NFT hub where verified holders of notable projects like CryptoPunks, BAYC, CyberKongz, and Coolman Universe can connect through their shared values and passion for NFTs.Related: Adidas enters the Metaverse with NFT partnershipsRTFKT Studios Nike MNLTH NFT RTKFT studios is known for making headlines as one of the first Nike NFTs and the recent MNLTH airdrop is turning heads. RTFKT studios paved its way in Web3 by designing digital sneakers and goods and on Feb. 4, the project airdropped holders of its CloneX PFP collection a curiously cryptic metal-like box. I feel like mnlth is about to explode and we’ll be like, why didnt we buy moreWondering if I should flip a clone into more boxes…- first @Nike nft- first @RTFKTstudios community driven nft- rtfkt doesnt usually get this hypey about stuff- opening will be clear catalyst— notthedrphil (@NotTheDrPhil) February 15, 2022

What’s in the MNLTH box is a mystery to most, but the community has really taken to the initiative behind its reveal. RTFKT announced a novel idea whereby the community and blockchain would trigger the slow unveiling of the contents in the box and the MNLTH reacts once it’s triggered by evolving one step closer to its reveal. Engaging the community in this way has proven to be positive for the project and the collection’s volume. MNTLH has amassed over $32.5 million in total volume so far and has maintained an average sale price of 4.33 Ether ($13,405.69.)  RTFKT MNLTH all-time average price / volume. Source: OpenSeaIn the last seven days, the number of daily sales has stayed above 50, suggesting that investors and collectors are seeing value derived in the RTFKT ecosystem. Beyond game theory, tokenomics, and sorting utility, NFT collections and communities are thriving by forming interpersonal relationships and connections with other notable players in the sector. It seems that by increasing the social capital of the community and the associated collection, there is intrinsic and extrinsic value derived from it.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Here’s why AI-equipped NFTs could be the real gateway to the Metaverse

Here’s why AI-equipped NFTs could be the real gateway to the Metaverse

Uverejnil používateľ | feb 18, 2022 |

Nonfungible tokens have largely been acquired as proof-of-profile pictures (PFPs) that represent a brand, embody culture or ultimately, reflect as a static status symbol. Blue-chip NFTs like Bored Ape Yacht Club or Cool Cats were not originally backed by any tangible utility other than speculative value and hype, along with the promise of an illustrative roadmap, but in 2022, investors are looking for a little bit “more.” However, nonfungible tokens are finding their use beyond branding and status symbols by attempting to build out an existence in the Metaverse and some are ambitious enough to start within it. Altered State Machine (ASM) Artificial Intelligence Football Association (AIFA) has introduced a novel concept to NFTs called nonfungible intelligence or NFI. By tokenizing artificial intelligence, ASM AIFA has captured the attention of investors who are thinking long-term about the future of the Metaverse and decentralized play-to-earn (P2E) economies. The $ASTO token is coming and it’s going to power the ASM economy in many ways.DAO GovernanceGenome Mining️ Agent TrainingEcosystem Developmentand more… #ASTO #ASM #NFI #NFTs #Token pic.twitter.com/Jw573MMlB7— Altered State Machine (@altstatemachine) February 6, 2022In fusing AI features to the three growing markets of gaming, decentralized finance (DeFi) and NFTs, ASM AIFA has the potential to be a lucrative long-term bet. As an investor, these are the strategies I’ve considered when thinking about investing in ASM AIFA, while also factoring in the impending tokenomics that will be integrated into the nascent blockchain P2E game. Follow the linear path by buying genesis boxes The ASM AIFA genesis box collection is essentially a starter booster pack toward its ecosystem. A box includes four ASM AI agents or all-stars as well as an ASM brain, which is the intelligence that powers each ASM all-star. Currently valued at 5.369 Ether ($16,768.84) the box is a valuable bet for those who hold long-term convictions in the ASTO economy and its decentralized autonomous organization (DAO) but more so, the Metaverse as a whole. Since ASM AIFA intends to award its early adopters and players through its play-and-earn model, the genesis box is essentially equipped as a ASTO generating set-up. According to the ASM AIFA whitepaper, each brain will be able to mine ASTO and each all-star will be able to generate ASTO through training. Not only is ASTO the utility token of the Altered State Machine metaverse, but it’s also the governance token in the ASM ecosystem. Furthermore, these brains are not only limited to the ASM AIFA collection. They will also be supported in other notable NFT projects like FLUFF World NFT, making it interoperable as well.ASTO tokens are needed to train the AI all-stars and to also create more AI agents. AI agents do not have to be limited to play soccer in-game, its ASM brain can be trained to be a trading bot as well since it’s dependent on its learned memories. The project launched on Oct. 18, 2021, and since hitting the secondary market, ASM AIFA genesis boxes have increased by nearly 1,200%, suggesting there is growing interest and owners have recognized the value of AI. ASM AIFA all-time average price / volume. Source: OpenSeaIn the last 7 days, the average sale price of the genesis boxes have been on a downward trend dropping from 6.3 Ether to 5.3 Ether. It seems even with slight correction, the genesis boxes have not dipped below the 4.75 Ether in the last month. ASM AIFA 30 day average price / volume. Source: OpenSeaBased on the price points of the items in the genesis box, the floor for ASM all-stars currently cost 0.21Ether ($654.37) with a team of four, totaling approximately $2,617.48. The cheapest ASM brain is currently priced at 3.92 Ether ($12,214.96) bringing the total sum of the contents in the box to approximately $14,832.44 or 4.77 Ether. Essentially, at these current prices, buying a genesis box roughly cost the same as it would purchasing the items separately. However, both the ASM brains and all-stars have experienced price fluctuations that have previously made purchasing the box a cheaper alternative than items separately. Depending on an investor’s motives and strategy, they could sort other methods to own a piece of the ASM metaverse. Genesis brains will also mine ASTO ASM AIFA genesis brains are unique artificial intelligence-equipped NFTs and the architecture of the brain is currently under patent pending where owners will have full rights to the machine-learning (ML) model of their NFI.This provides an added layer of utility toward the ASM economy and a unique feature is that the ASM brains do not always need a form (avatar) and can exist and function with the parameters of its trained memories. ASM AIFA genesis brains. Source: ASM AIFAThe ASM brain is the most expensive piece of the collection that will also be able to mine ASTO tokens. In this way, an investor can potentially make back their original capital investment via the brain’s token emission. Currently, the cheapest ASM brain is worth 3.92 Ether ($12,214.96,) a 300% increase in floor prices in the last 60 days.ASM AIFA genesis brain daily floor price. Source: NFT Price FloorThe ASM brains retain their value largely in part because of their genome matrix whose attributes enable for the brain to be integrated in other worlds outside of the ASM ecosystem. Meaning, the brain can be used in other ecosystems. According to the ASM roadmap, each ASM genesis brain is slated for an ASTO token drop. Investors who are looking for exposure with AI, could consider purchasing ASTO for a more financially feasible bet. Just stack ASTO?There’s no denying that the ASM AIFA project is not the cheapest entry to the ecosystem, but for those investors who are strongly interested in the developing features of NFIs, investors could consider investing into the token or the AI all-star agents. ASTO is the native currency that will govern activity in the ASM ecosystem. Since it’s needed to train the ASM brain and any AI agent, there will be an economy of gym owners who will provide GPU cloud computing for every ML model. In return for their time and energy, gym owners will be rewarded in ASTO. When the ASTO token launches, the ASM team will host an auction to determine the price of ASTO in a unique method they have dubbed “discovery auction.” ASTO will also be dropped to owners of the ASM all-stars and ASTO can be staked to mine the next generation of brains in the ecosystem. In preparation for AIFA’s launch, the ASTO token could be desirable to load up on. As NFTs are finding ways to justify their value outside of speculation and the ways they can be integrated in the Metaverse expands, projects are beginning to build from the inside out. Time will tell when we begin to see more projects beginning to integrate AI features, but ASM AIFA seems to be a top contender as one of the first movers. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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AXS, RON and SLP surge after Axie Infinity developers revamp the project’s tokenomics

AXS, RON and SLP surge after Axie Infinity developers revamp the project’s tokenomics

Uverejnil používateľ | feb 10, 2022 |

Since launching in 2018, Axie Infinity has amassed over 2 million daily active users (DAUs) and its decentralized exchange, Katana has a market cap of $5.5 billion, but this growth has not come without challenges.Axie Infinity’s in-game token, Smooth Love Potion (SLP) decreased nearly 93% from it’s all-time high in July 13, 2021 of $0.39 as it faces uncontrollable inflation. As such, the team has announced it will significantly remove SLP issuance from the game, making it harder to farm. Gamers and guilds will in turn focus their attention on their strategic competitive edge and the potential increase price of SLP will inevitably result in the increased price of Axies as the cost to breed would increase all the same. SLP token price. Source: Nansen.aiAccording to data, SLP’s emission is over four times greater than the amount of tokens being burnt, which has resulted in its price plummeting to less than a cent in the last 7 days. However, the Axie Infinity team is tackling the economic imbalance with in-game modifications set to launch today at the start of Season 20. SLP burn/ mint rate. Source: Nansen.ai Since announcing its plans of economic rebalancing, Axie Infinity’s AXS governance token and its blockchain token, RON, have seen an uptick in price. Since the season went live, SLP is up nearly 24% in the last 24-hours. Scaling and finding balance amid rapid growth is no easy feat, but could these economic rebalances prove to be profitable for users? SLP rewards are reduced while AXS incentives increaseStarting on Feb. 9, Axie Infinity will no longer issue SLP for users playing in adventure mode and it will no longer reward users who have completed the daily quest. By removing these methods of token emission, the team is reducing the number of SLP minted daily by roughly 175 million SLP. Average daily in-game mint of SLP. Source: Axie InfinityThese two issuance mechanisms make up nearly 84% of the SLP created in the game, with nearly 14% minted by players completing their daily quests, according to Axie Infinity’s economic development. Based on these estimates, over 250 million SLP is being minted daily and only about 40 million is burned as the demand for breeding Axies has decreased since players and breeders are still awaiting a new battle version called Origins. By removing significant portions of SLP rewards Axie Infinity will be allocating to players daily, the team aims to refocus players’ attention to the competitive nature of the game. As such, the team has increased the rewards for its leaderboard and now the top 300,000 players will be able to win AXS as opposed to previously awarding only the top 1,000 players. Leaderboard AXS rewards allocation. Source: Axie InfinityBy increasing the allocation of AXS awards to players, the team intends to reward approximately 117,676 AXS, valued at over $7 million at the current price of AXS. In doing this, Axie Infinity is distributing a significant amount of its governance tokens which benefit players for staking, breeding, and farming RON. The sudden drop of SLP emissions is not only a shock to the system, but to its players because many have been making similar recommendations for months. It remains unclear whether or not these changes are sustainable for economic growth, but players have been making their judgmentsRelated: 5 NFT-based blockchain games that could soar in 2022Players will decide whether the economic adjustments are effectiveBeyond its economic balances and tokenoimcs modifications, the team is also adamant about improving its overall communication and has since taken action. The Axie Infinity team acknowledged the community’s sentiments regarding the overall lack of transparency and the fact that these economic issues could have been addressed much sooner. On Jan.14, the team made a call-to-action for the community to make suggestions on ways to assist with the economic balancing and forthcoming changes. In response, players, investors, and content creators have taken to Twitter to express possible outcomes regarding the economic balances, with some still unclear, but hopeful, on how this may impact DAUs. 3/ We all knew this change was coming. Looking at the numbers it’s no surprise given how much excess SLP is being minted. Two questions are what will it do to the # DAU and how could that play a part in total SLP minted?— Josh (@JDHyper) February 8, 2022At the surface it may appear that the bid to restore P2E viability may negatively impact those who are running scholarships as the issuance of SLP has drastically decreased. However, since the development went live, the demand for teams for members to play has also increased. It’s still unclear how these changes will impact teams in the long-term, especially as future changes and developments are slated to take place, but it could be the long-term adjustment Axie Infinity needed. While these economic changes are paramount in mitigating SLP inflation, only time will tell how existing players respond to these changes and how new entrants saddle up for the challenge.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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NFT prices misfire as OpenSea daily active user volume drops 30% in a week

NFT prices misfire as OpenSea daily active user volume drops 30% in a week

Uverejnil používateľ | feb 10, 2022 |

While it seems OpenSea is keeping pace with January’s total volume of $5 billion by generating over $1.3 billion in total volume the last 7 days, the number of active users has decreased by more than 30% according to data from Dune Analytics.Are we beginning to see a lull in trader activity as a sign of an impending market pullback or are investors and collectors taking their trading activity elsewhere? OpenSea daily active users. Source: Dune AnalyticsThe closest rival to the market-place is LooksRare has generated approximately $3.49 billion in the last 7 days, but persistent issues of wash-trading have also decreased its active trader count by 3%.There are a few factors that could be influencing OpenSea’s overall decrease in volume and drop-off in active traders. After all, nothing lasts forever. However, the NFT market doesn’t fail to surprise either. Hape Prime snatched the top spotHape Prime, a collection of 8,200 3D fashion-forward apes, entered the scene and took the top spot in the last 7 days for total volume transacted. The project netted over $13.6 million in total sales and has made quite an impression on investors. Whether this impression was good or bad is another story. The collection quickly reached meme status but still managed to increase its 7-day total volume sales by nearly 80%. During the same time, other notable collections, including Azuki and CloneX, decreased their total volumes by at least 50%. On Jan. 31 the daily average price of Hape Prime was 9.17 Ether and has since fallen over 55% since the reveal, suggesting traders may have bought into the hype. An interesting fact to note is that there are nearly 6,000 unique owners. Hape Beast 14-day average price and volume. Source: OpenSeaWavering anticipation impacts KaraFuru’s price Since its launch on February 4th, KaraFuru has steadily maintained an average 4 Ether floor ($12,506.36) and the small collection of 5,555 has 4,000 owners according to data from cryptoslam. Holders seem to be awaiting its reveal on February 10, which could be why the daily average price of sales have been seeing a recent uptick. ☀️ KARAFURU REVEAL ☀️Save the date as we will all finally meet our Karafurus!• Thursday 3pm UTC February 10, 2022 LFG FURUS #KarafuruNFT pic.twitter.com/JTmUPKeukB— Karafuru NFT (@KarafuruNFT) February 6, 2022KaraFuru has generated over $44.8 million in total sales volume with some in the community sweeping the floor over beliefs that the project has huge potential. Drops, on drops, on drops for CloneX holdersCloneX currency ranks third in total sales with the all-time price of one avatar being 10 Ether ($31,000.) RTFKT studios airdropped one NFT for each CloneX and Space Pod held by a collector.  CloneX all-time average price / volume: OpenSeaRTFKT is delivering on its airdrop season by dropping holders a MNTHL and Loot Pod NFTs. MNTHL’s current floor price is nearly 5 Ether and has been wavering a bit as collectors have received notice that the Nike-marked NFT will not reveal itself until it is triggered. info on D.A.R.T X and how it affects MNLTH reveal → Reveal is not based on a date, but triggers→ Triggered by the community→ Triggered by the blockchain. Quest and clues will be given weekly, if you, RTFKT community, achieves those missions, the MNLTH will react ‍— RTFKT Studios (@RTFKTstudios) February 7, 2022

Between the MNLTH and Loot Pod NFTs, holders were essentially dropped at least 6 Ether ($18,500) at the current floor of each NFT. This doesn’t account for the range in price, but it seems it is just the beginning with more opportunities for entrants into the ecosystem. HypeBears Official claws its way closer to the top The HypeBears collection sold out on Feb. 3, with no apparent public mint available and many hopefuls were very frustrated by the process. Minting a HypeBear didn’t come cheap at 0.4 Ether ($1,240).HypeBears seems to have gained the attention of traders with its rather vague but desirable roadmap touting 50% royalties, a prospective governance token and access to other blue chip projects. As a self-proclaimed blue-chip driven project, HypeBears has amassed over $40 million in total sales volume since its launch on Feb. 2, However hot its sales have been, its contract revealed vulnerabilities and potential exploits for holders.A word of caution on Hype Bears: The contract is safe to mint from; you won’t get drained. However, your bears may not be safe. Read on (this is short, I promise) pic.twitter.com/nMMVUXb2xh— quit (@0xQuit) February 2, 2022

Despite falling nearly 49% from its highest daily average sale price of 1.37 Ether, HypeBears briefly took Azuki’s place in the charts. Azuki dropped in total volume and average daily salesSince its launch on Jan. 11, Azuki has closed out over $313 million in total volume according to OpenSea. In the last 7 days alone, it generated over $33 million, but the average number of sales per day has declined by nearly 66%7 day average price / volume: OpenSea AzukiDespite the decreasing number of average sales and volume, Azuki has increased its average sales price significantly, rising approximately 40% in nearly one month. This suggests many collectors are willing to pay handsomely to hold these anime-inspired NFTs, The floor price chart from OpenSea shows that Azuki’s floor price has dipped slightly below the coveted 10 Ether mark, but on LooksRare, buyers are happily forking out at least 11 Ether per NFT. By trading in a $3,000 discount for trading rewards, users are opting to purchase pieces on LooksRare, and perhaps continue to stand their ground against OpenSea. It seems new NFT collections are entering in full-force and are determined to claim their spot on the charts, knocking other top contenders from their place. OpenSea has clearly closed out a record breaking start to the new year, but are these types of gains sustainable when the market is seeing a drastic cut in active traders and daily volume?The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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The Metaverse calls: NFTs construct virtual economies to stay relevant in 2022

The Metaverse calls: NFTs construct virtual economies to stay relevant in 2022

Uverejnil používateľ | feb 5, 2022 |

As NFT projects prepare to embark into the Metaverse, it seems they are pivoting from their static imagery to integrating mechanics that provide utility.Notably, Bored Ape Yacht Club has amassed over $1 billion in total volume and announced a mobile play-and-earn game, while fellow primate projects, CyberKongz and SmolBrains continue to announce and integrate new gamification features to their collections. Investors seem to not only be searching for projects with strong communities and utility, but it appears technical capabilities rank high on the list too. This notion was made evident after Cool Cats’ Cool Pets collection experienced back-to-back hiccups with its launch, and has since been in a downtrend as holders await their reveal.Cool Pets 7-day avg. price / volume. Source: OpenSea Cool PetsPerhaps NFT collections are maturing and focusing on delivering what is promised on their long-term roadmaps. It’s also possible that they are searching for ways to sustain value and relevance with their respective communities in 2022. Projects aim to lock in utilityWord on the street is, there is a new term to be aware of, “play-and-kollect,” a phrase coined by CyberKongz. CyberKongz is one of, if not, the first collection to integrate a token generating mechanism to its NFTs and a breeding mechanism. Its governance token, BANANA, was introduced as a way for users to personalize their NFT and breed BebeKongz. In a similar fashion, Franky Nines’ SupDucks PFP collection generates VOLT, the utility token that collectors use to purchase ingredients to spawn a MegaToad. By integrating a token mechanism and model, projects are also gamifying the experience of stacking and holding.Where my @RealSupDucks family at… who still stacking $Volt to mint another MEGATOAD? #sup pic.twitter.com/ahDJIzL0Y3— patrickjamesNFT.pcc.eth (@patrickjamesNFT) December 30, 2021To incentivize BebeKongz holders and give them utility, CyberKongz announced that each genesis or BebeKong could be redeemed for a CyberKongz VX. CyberKongz VX are full-bodied, 3D pixelated versions of the collection. Since its release back in Aug. 15, 2021, CyberKongz VXs daily average price has increased by nearly 193%, sitting at a thin 2.4 Ether ($6,430.22) floor with a 7-day average of 3.5 Ether ($9,377.41.) CyberKongz VX have recently been given utility as they venture into CyberKongz in-game Jungle Adventure.CyberKongz VX 7-day avg. price / volume. Source: OpenSea CyberKongz VXThe Jungle Adventure will enable holders to put their CyberKongz VX to good use to collect Kongnium Ore’s (ERC-1155 token) that can be redeemed for exclusive NFTS and BANANA prize pools. The overarching theme with play-and-collect in the CyberKongz ecosystem, is that each piece in the collection is designed to play a key role in providing utility. No longer are pieces just aesthetically pleasing, they also have serviceability. CyberKongz is not the only collection honing in on gamification to give its NFTs utility; Cool Cats’ budding collection Cool Pets will be able to earn an in-game token GOLD. To claim the GOLD, users must have MILK, which Cool Cats will soon generate daily. Beyond gamification, other projects have discovered that a community-collective is just as valuable as utility. Built for the community, by the communityBuilt on the Treasure.lol universe and created by Treasure DAO, SmolBrains is the epitome of a grassroot project. The project is an NFT game developed on the Arbitrum network, whose primary PFP dynamically changes.The SmolBrain starts out as a happy-go-lucky monkey that when staked, begins to increase its intelligence and brain size. Every IQ milestone unlocks a new feature on a user’s land in Smolville which incentivizes users to stake their NFT.Unreal, my @SmolBrainsNFT just keep gaining IQ.I joined Oct 15th the first day the discord existed. Minted free Smolbrains and land and the rest is history.I need to know when Smol Party on Tropix Smol Brain Land! pic.twitter.com/4FYRPktnYN— TropixMusic (@TropixOfficial) December 30, 2021

Smolbrains community figuratively and literally went to the moon, with its current floor price is 2,525 MAGIC ($10,065) and there are currently less than 180 listed out of 13,742, suggesting there are many collectors, gamers and DeFi pundits who believe in the Smolville ecosystem and its potential rewards. BEEN PUTTING HEADS TOGETHER WITH SOME NFT LENDING AND FRACTIONALIZATION DEVSGOOD NEWS INBOUND: YOU WILL BE HODL YOUR SMOL TIGHT LIKE THE PRODUCTIVE ASSET WE ALL KNOW IT IS#IFKYK— Smol Brains (@SmolBrainsNFT) January 7, 2022

Pets seem to be in season as SmolPets have also arrived on the scene for every SmolBrain and SmolBody holder. While DeadFellaz, just launched its DeadFrenz collection, slated to have future utility within the horde ecosystem. Strong communities are commonly stated as a reason for why certain collections are popular and deemed a success. However, strong communities are also seeking ways to ensure that they get some sort of return for their initial capital investment and rightfully so. For some NFT investors, buying the art work is more than just a capital investment. Community members invest their time and talent on project initiatives and in turn, development teams are strategizing on capturing and sustaining the attention of its members to maintain and drive up the project’s value. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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