Prices of the major crypto-tokens are soaring and new investors often consider the prices to be too high. New investors consider Altcoins to be too volatile as a tweet or some memes can affect their price. It discourages them from entering the crypto market. In this atmosphere, new investors are flocking towards NFTs. NFTs are becoming the new favourite for both old and new investors. With the rise of blockchain gaming, metaverse, and play-2-earn sector, there is a renewed interest in NFTs. You can make major bucks or earn some passive income using NFTs if you know what cards to play.
NFT or Non-fungible token, is a unique and non-interchangeable unit of data. A digital ledger like a blockchain store it. NFTs can be anything you can imagine. Like, photos, audio, videos, drawings, and everything else in digital format. Additionally, it uses blockchain technology as public proof of ownership.
Because of the widespread usage of NFT, users may earn not only from secondary sales but also from incorporation into the functioning procedures of projects such as games. We’ll take the example of Cypherpunks to see how you can utilise NFTs now and if collectable photos have a future.
What is Cypherpunk?
In 2018, the concept of Cypherpunks was born. The developers aimed to provide people with an easy-to-understand explanation of cryptography. However, it was rare and tough for the typical man on the street at the time. Now there is a full cryptocurrency and blockchain sector with its own past.
Today, the original Cypherpunk collection includes 30 distinct NFTs that trade on the OpenSea marketplace. Every week, the issuing corporation publishes a new one-of-a-kind cypherpunk, the price of which climbs in proportion from lower to higher. The most recent cypherpunk token sale was for 6.15 ETH, or more than $27,000.
OpenSea is a decentralised marketplace for the purchase and sale of non-fungible tokens. The NFT exchange was founded in 2017. It began as a market for CryptoKitties but has already extended beyond them. It presently serves as a marketplace for a wide range of digital goods, such as art, domain names, gaming items, music, and more.
OpenSea works on the Ethereum blockchain. Hence, you must have an Ethereum wallet to purchase and sell NFTs on OpenSea. Opensea supports several blockchains like- Polygon and Klatyn. There are 241 payment alternatives available on the marketplace, including stablecoins, guaranteeing that anybody may purchase and sell products.
New collection and Play-2-earn games
The company will release two additional sets of NFT tokens this winter, which will be a part of the new Play-2-Earn game, which is set to premiere in 2022. “The new collections will include 3000 NFT and 30,000 NFT. In addition to being linked to the pool and blockchain, they will be used to participate in the Play-2-Earn game, which we will launch next year”, says founder M. Kubrick.
One of the project’s last stages and most ambitious ambitions is to make Cypherpunk 30 NFT suitable to produce blockchain nodes.
Cypherpunk: Rebels currently has 3,000 tokens. The NFT collection will be on sale on December 15th. The functional collection in the “Devouring pool” is overseen directly by the proprietors. At the node creation stage, inclusion in the “founder’s bonus” pool.
Anarchist have 30,000 tokens in Cypherpunks. When the network of nodes is complete, each user will be put to the pool of “conceptualists.”
Each NFT will be a distinct character in the game, with a ranking system based on the collection’s rarity.
The business will begin selling NFTs from the Cypherpunk: Rebels collection in December. As a result, consumers may now register for the white list and obtain favourable terms for purchasing NFT.
The existence of historical context, as well as the limited quantity of copies, contribute to the Cypherpunks collection’s popularity, according to the creators. “We have deliberately released a very limited collection of Cypherpunks to bring token holders to true digital art connoisseurs. The cost of NFT will gradually increase as the project develops”, comments founder M. Kubrick.
Stablecoin and Reverse USD index
Furthermore, the issuing corporation intends to create its own stablecoin that would “reflect the amount of customer confidence in the old financial system.” The reverse USD index will be the basis for stablecoin.
A stablecoin is a cryptocurrency that aims to provide price stability. A reverse asset supports a stablecoin. Stablecoins have gained popularity since they try to provide the best of both worlds—the rapid processing and security/privacy of cryptocurrency payments, as well as the volatility-free steady prices of fiat currencies.
The Reverse USD index determines the value of the USDR coin. A person issuing USDR from USDT receives the number of tokens equal to the index coefficient. For example, if the index shows a 10% reduction in the value of USD, the rate would become 1 USDT to 0.9 USDR, but with the reverse exchange at the same time, 0.9 USDR will be transformed to 1 USDT. Although the pool closes from inside the USDT-USDR exchange, regular dollars are always accessible for withdrawal. Even if the USDR rate is $0.1, the quantity of USDT that gives USDR will always offer an identical exchange in the other direction, so if a person enters 1 USDT into the pool, he will receive 1 USDT back.
For more information about how USDT-USDR works, games in the cypherpunk world, and the future of blockchain check the project’s website and social media channels.
Also read: The Reason Behind NFT “Almost” Becoming The Expensive Punk in The Realm of Digital Asset
