Part 2 of 4: Scratchies — NFT Lottery Tickets from DRIP and Animal Farm
Animal Farm brings an innovation in DeFi with NFT Scratch-off Lottery Tickets with Staking Utility
I’ll be honest. I have not seen anything like this before. This dApp from Animal Farm can be a standalone project. It is an NFT lottery ticket that can be interacted with to ‘scratch’ off to see what you’ve won.
I had written about these NFT lottery tickets from Animal Farm and DRIP before HERE, but recently, there were some revelations about further details that make this decentralized app quite intriguing.
They will be sold in batches, something like 1,000 or 10,000 and may be purchased with BNB. The cost will be 0.1 BNB and 0.3 BNB.
The higher the cost of the ticket, the higher the NFT staking rewards multiplier.
At today’s BNB price of $239.83, the ticket cost could be something like $25 to $70 dollars … Oof!
To get your prize, you have to burn the NFT. Or, you could keep the NFT ticket and it can be staked to earn rewards at a rate of 3x to 5x.
However, like sands in the hourglass, the multiplier reduces over time. After 5 or 6 months, the NFT may have lost its ability to earn rewards. This mechanism prevents the…
