Gold Fever — NFT 2.0 — Using NFTs in a better way
The NFT market is exploding, and there is no doubt about it. Since the early days of CryptoKitties in 2017, a lot of evolution took place.
NFTs have gotten a lot of attention lately, rightly so, I would say.
The year 2020 reveals that transactions of Non-Fungible-Tokens multiplied, reaching more than $250 million in total.
Source: https://nonfungible.com
Jack Dorsey, CEO of Twitter and Square just sold his first tweet as an NFT for 2.9 million dollars, and will donate it to GiveDirectly, a charity giving cash to people living in poverty.(Source CNBC)
Sophia, the robot, sold an NFT art piece for $688,888. Yes, you heard that right, a freaking ROBOT! (Source NYTIMES )
Let us not forget all those collectables like CryptoKitties and Crypto Punks, CCGs and whatnot.
Source: https://nonfungible.com
Non-Fungible-Tokens made a whopping 5,476,203 sales with a volume of $533,579,969.67 and an average price of $97.44 per piece since Dieter Shirley (dete) initially proposed the ERC721 specification (…the first NFT iteration).
If you want to dive into historical significant GitHub threads, this one is a winner. https://github.com/ethereum/eips/issues/721
The official authors of the ERC721 standard are William Entriken, Dieter Shirley, Jacob Evans, and Nastassia Sachs. They are an essential part of the NFT revolution, and we cannot and won’t forget them.
Times have changed since then.
Gold Fever will use the newer and improved ERC1155 specification allowing for badge transfer and other enhancements out of this article’s scope. (maybe this is some content for another piece…let me know in the comments).
NFTs allow for exciting usages in the gaming industry.
Two facts are undeniable:
- You are the TRUE owner; no one can ever challenge it.
- You have an immutable record of your property on the blockchain.
In Gold Fever, we use NFTs in many different ways
- Collectibles NFTs
- Active/Passive Income NFTs
- Licence NFTs
- Infrastructure NFTs
- Item and Character NFTs
Collectables NFTs:
The most common use in crypto land is a Collectable-NFT.
The items are scarce, special and unique.
We apply this concept with Limited Edition Skins…flashy hats, elegant shoes, or a crazy pair of pants are the best examples for this. A restricted supply will guarantee a collectable value depending on how much it is seen as desirable by the community.
A collectable item will not have an advantage in the game, and the intrinsic value is measured with the urge to own it and, of course…bragging rights.
Licence NFTs:
Gold Fever lets you own Mining Licences very similar to real life.
These can be a whole Area of Mining Claims for big Investors or single Mining Claim Licences for small Investors.
With a Licence, you gain the right to start Arenas, actively participating in the game creation, where players try to extract gold. The amount of gold minable is represented in our native gold token (NGL) and will be exponentially higher than the current value paid for the Licence.
Due to the natural scarcity of NGL in Gold Fever, the potential for token appreciation exists but will ultimately be decided by the open markets.
Therefore the intrinsic value is a real-world value allocated through cryptocurrency and not just players sentiment. These NFTs have a measurable benefit, and the investment return can be augmented by allowing other players to build infrastructure.
Active/Passive Income NFTs:
Donkey ready to load up
Items like boats, planes, animals and mining tools in Gold Fever earn passive or active income.
Active use of equipment is clearly in-game bound, and you have to do it yourself. The twist here is you can rent or lease equipment in Gold Fever, ending up with passive income while you are sitting on your couch watching “Mythic Quest” or “The Smurfs”.
In general, there are two distinctive ways to earn passive income applicable to some but not all items:
- You can lease objects to NPC businesses and obtain a percentage of the amount they charge for the use from other players. (e.g. the NPC will be in charge of your plane, renting it from airport to airport as he sees fit.)
- You can rent an item for a certain amount of time to a player directly, who will be the only one using it.
Let us get to the grain of what that means in detail with an example.
A Rocker Box
You can own a Rockerbox, a piece of mining equipment used to extract gold in the early days. This little piece of equipment has a yield way higher than simple panning.
Now you can go out and do the work yourself by rocking the hell out of it, OR you rent it and charge a player directly. If you want, you can also lease it to the mine shop at the corner and get a percentage from the business it attracts.
The value ties to the usefulness and real extraction rate of gold in the game.
Infrastructure NFTs
Specific infrastructure is represented as NFTs and built by the player. Airstrips, Stables, Merchant Booths, to name some, are fixed places on the map and are usually businesses run by players.
These operations are easily converted into passive income, renting them out or through becoming a shop magnate yourself if you want. Real-Life, here we go.
The value of infrastructure directly connects to the possibility of income by offering services or items to players.
Item and Character NFTs
Characters and items are, by far, the most varied category. Characters with attributes represent a commodity as much as objects.
The more a character evolves, the better and more valuable he becomes.
Items can be rare as collectables, but the most significant difference is they have an in-game use. You still can collect them if you wish. No one can stop you if you just like those good-looking rifles and need to own them all.
The value of this category of NFTs is given either by the time spent developing them or the usefulness they represent in the game.
A certain amount of rareness to objects is also a measure of worth. Not every item will be available in masses.
Read Part 1: Gold Fever — NFTs & FTs What is it and why you should know?
Note: Gold Fever is currently in an early development stage, and details are subject to change.
💀 Website: https://goldfever.io/
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📚 Medium: https://medium.com/gold-fever-the-game
