Our project advisor once gave us the idea of creating an NFT that can be traded for crypto tokens.He said
“it would be cool if someone (hopefully us) can make an NFT that will hold real monetary value behind it.”
As background for those who are not in the know, the NFT market now is struggling. The first wave of early adopters and investors are starting to realize that NFT investments are like tulip investments in the 1600s. A lot of investors now are stuck with NFTs that are hard to resell back in the market.
NFTs are currently being sold and presented as collectible pieces. While this may work for top brands and celebrities, the same approach would not work for random unknown artists.
I’ve seen a lot of great pieces of digital art myself and later on found out that no one is buying this digital art for the simplest reason that no one knows the artist and they have no idea who will buy the NFT after them.
If you think about it, it’s still better to invest and speculate on cryptocurrency tokens versus NFTs because you are always assured of token liquidity and token price at any given time.
For those who are saying that NFTs have real-world tradable value, try buying one NFT in a marketplace and sell it back to the artist who made it. I’ll bet the artist who made the NFT wouldn’t buy it back from you since the artist himself cannot even guarantee if someone will buy it from him after.
Going back to the very beginning of my story, don’t you think it would be cool if someone can create an NFT that can be monetized to a specific amount?
And you know what? We’ve finally created our own version that solves the NFT liquidation puzzle.
The thing is, we were not intentionally solving this problem at the start. The problem that we were dealing with is how to give rewards for the Bimp project without compromising the token liquidity and budget before launching.
Through a lot of brainstorming with the marketing team, we were able to create an NFT reward system that motivates the recipient of the NFT collectible and encourages the holder to support the project to reach a specific marketcap, and from that point, the NFT can be traded to a cryptocurrency which can be traded for BUSD or BNB in the open market.
At the start, the idea was to just give away NFTs for marketing promotions but eventually, the idea evolved to giving away NFTs with a financial goal behind it. Almost every project now is simply giving away free tokens, and people who receive these tokens could sell them right away if the recipient is not aligned with the mission and vision of the project.
DefyDefi is the first ever to implement this revolutionary model that would solve the NFT liquidity dilemma. We feel that once we’ve executed this in the upcoming Bimp project, a lot of developers all over defi and crypto will copy our model and implementation.
To summarize our Bimp Money NFT model;
- NFTs will have clear monetary rewards that are given to NFT holders to incentivize and encourage them to work together towards a specific marketcap goal.
- Once a market cap has been met, the rewards that will be claimed are easily afforded by the project’s treasury since profitability had been attained at that time.
- People who are NOT aware of the project’s market cap growth and development would have no awareness and idea that the NFT they are holding can be claimed; this eliminates people who are undeserving of this reward at the very start when NFTs are airdropped randomly to people.
It is one thing to envision and conceptualize the idea but to build the infrastructure to support this concept is another.
We believe DefyDefi founders and developers have the competence and infrastructure to build all decentralized apps needed to implement this flawlessly on the upcoming launch of the Bimp project.
The NFT ecosystem is still very young, and it lacks a lot of protocols and solutions to simplify the utilization of NFTs in the real world.
The above approach to NFT utilization has never been done before, and we are one of the first to execute this through the upcoming Bimp project. We are in the final stages of DApp development to automate the trading of NFTs because manual trading would not work because we plan to release thousands of NFTs at the start and throughout the life of the Bimp project.
You know what? The Bimp project started simply as a meme project, but as we compound more developments daily, the project is becoming more and more a revolutionary project that is about to melt faces in the defi space.
If you want to know more about the upcoming presale of Bimp follow the below links.
All of what’s written above are not financial advice. Consult your own financial advisor before making an investment. Do your own research and do not invest an amount you cannot afford to lose.
We will shill Bimp really hard and will attempt to beat all meme project records on Coingecko and Coinmarketcamp.
Don’t miss out on Bimp. Our project is destined for greatness in defi.
Defi moonshot is a game of skill and luck. This is anybody’s game, good luck in advance to all Defyters, simps, and Bumps.
May the best Bimp lambo! 🚀☝️🌙
https://www.bimp.finance/
https://twitter.com/bimp_official
Bimp Chat
https://t.me/DefyDefi
Bimp X Defy Unfiltered
https://t.me/DefyDefiUnfiltered
https://medium.com/@khuriya100
https://twitter.com/khuriya100
https://twitter.com/DefyDefi_
https://defydefi.medium.com/
Khuriya Chat
https://t.me/khuriyabsc
