Kollect Introduces Its Collection Book System!
Introduction
There is a major pain point in the current NFT space- The lack of utility and leverage of said NFTs. Kollect plans to initiate the paradigm shift and turn the NFT market into a more utility-friendly one.
Kollect’s Collection book system is one aspect within its ecosystem that addresses the current NFT market’s lack of utility. It has a unique built-in play-to-earn feature, allowing users to strategically stake their cards in different collection books to earn rewards and yield.
There are two types of Collection Books: Private and Public.
Public Collection Book
Public Collection Books are competition-based. Kollectors compete with one another to claim the limited slots available in the Public Collection Book. These limited slots are mostly comprised of the rarer cards within the ecosystem and thus are significantly harder to claim than the slots in the Private Collection book. Once a user has the card necessary to claim a spot, they must then also stake a sum of $KOL. The user will be rewarded based on both the amount of $KOL staked, along with the NFT’s rarity.
Private Collection Book
Private Collection books are like individual missions and are completion-based. Unlike the Public Collection Books where users must compete with each other and gather the needed cards before the slots are all claimed, there is no rush for public collection book completion. The more of each collection you successfully collect and stake, the greater your rewards. If your collecting prowess comes into play and you are able to successfully complete a whole collection, such as gathering all the female power ranger cards, you can stake the collection itself for bonus and hidden rewards.
Reward Pool Halvening
The Collection Book system recognizes a ‘Halvening’ event similar to that of Bitcoin. Each collection book set has an allocated reward pool associated with it as well as a life cycle (Typically 12 Weeks).
After every life-cycle, the rewards allocated towards a certain collection set are halved.
What does this mean? The faster you stake your cards, the more rewards you are able to earn!
Conclusion
The market is eager to see a paradigm shift in the current NFT market, where it’s still primarily driven by hype, pure speculation, and a group of niche collectors and short-term profit-taking investors. Instead, we need a more utility-driven environment to allow NFT projects to transform into a long-term sustainable model so that they can be quickly adopted and appreciated by the masses. Kollect is the answer.
About Kollect
Kollect is a gamified collection card platform for any branded IPs. Its Collection Book system Kollect.book has a unique built-in play-to-earn feature, allowing users to strategically stake their cards in different collection books to maximize their rewards. Kollect.book enables flexible gamification of collecting activities. The games published by Kollect through Kollect.game are where users can put their collected NFT cards into real actions. Each of the branded IPs can have their own games anda in-game currency. The first game in the Kollect ecosystem will be a play-to-earn battle card game with PvP and PvE combat modes. Kollect envisions to become the hub for NFT collectibles and play-to-earn games.
