NFT “Gift Baskets” for DeFi Onboarding or As Trust Accounts
Have you ever wanted to transfer multiple assets to another person?
Would it be nice to transfer ownership of an entire wallet / ETH address?
Today I’m going to jump into a few specific use cases, which are completely possible with Charged Particles Protocol as it is:
- Charged NFTs as Trust Accounts
- Charged NFTs as Onboarding Gift baskets
Curious how? Ready to start using or building these?
You can, today.
Charged Particles transforms ANY NFT into a basket that can hold multiple other assets. Timelocks? All available for your creative delight.
NFT Trust Funds
Have you ever wanted to set up a crypto account for a family member? The private key discussion is tiresome and repetitive, often resulting in the person throwing up their hands and not pursuing it.
With Charged Particles, you can create a NFT and use it as a repository/trust for your family members’ growing crypto stash.
Then, whenever they’re ready, you can transfer the whole basket to them with a simple ERC-721 transfer. Once transferred, all the assets containerized within that NFT can change ownership with one transfer.
Worried they might sell when they receive it? The creator / initial owner of the NFT can set up a time-lock, allowing for forced HODLing for whoever the recipient may be.
This could look like a NFT-based Savings account for your Child / Family Member. You’d be the custodian of an NFT for your child, which would be held in your (own) ETH wallet. For the image, this could be a picture of your child, a ‘piggy bank’ image or an image that your child drew as a child.
An “allowance” is now deposited into this NFT. Perhaps every time they go to an event, you mint a new POAP-style NFT and deposit into their NFT. You contribute a bit of USDC, accruing around 4% in interest, all contained in the NFT. All the contents of this NFT are time-locked until he turns 18, so even if he is ready to self-custody, he won’t be able to ‘unbox’ the NFT until he hits the age of 18. Once he understands the risks (and benefits) of self-custody crypto assets and can create his own ETH wallet, you can transfer the entire NFT to him whenever he is ready to self custody.
Next: The NFT Image of this virtual piggy bank as generative art, changing over time to look more and more like the savings goal for that account.
Your NFT can be a yield farming basket of yield-producing DeFi assets. Accumulating interest all containerized within the NFT and easily transferred with a few clicks all together. In this case, to a family member that you’ve been the custodian of their assets on their behalf!
NFT DeFi Gift Baskets
Building on the idea of a NFT being a “container” or “basket” and acting as a trust account a bit. Charged Particles NFTs can now hold a number of different assets (ERC-20, DeFi Assets, ERC-721/1155), and the assets containerized in the NFT can be time locked for a varying period of time.
Entire baskets of assets (even a basket of yield-farming DeFi assets) can now be transferred from one wallet to another, with all the assets containerized within an NFT.
The community almost always comes up with better ideas / POCs. After a recent conversation with James Young of Collab Land, an idea like this has come up.
Think about a NFT Gift Bag / Welcome Pack / Starter Kit for users as they learn more about crypto and move toward more ability to manage their own private key / accounts.
NFTs will continue to be used in more innovative ways across new and existing platforms. Charged Particles allows users to do so much more with this (already amazing) technology.
Charged Particles dApp allows users the ability to mint (for free) NFTs, Energize / Charge their existing NFTs (deposit assets inside them, also free) and bundle things in ways that get us really excited.
Integrations with what we have, and where we’re going will lead us to wild new frontiers that we can barely imagine.
Have an idea for a dApp built using Charged Particles Protocol? Check out our accelerator.
Come build the future of NFTs with Charged Particles.
About Charged Particles
Charged Particles is a protocol that allows users to deposit ERC-20 tokens(ANY tokens) into an NFT. A scarce NFT (e.g. Art, Collectible, Virtual Real Estate, In-Game Item, etc.) can now be transformed into a basket holding a number of other tokens. The Principal amount can be time-locked inside the NFT, and through integration with Aave’s aTokens, the programmable yield from these DeFi yield-generating assets is just a few clicks away.
What’s in your NFT?