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February is a lucky month. When I woke up one morning, I opened my mailbox and found an email from Premint.xyz, which said that I was selected by Ghostboy and got an AllowList. I can't imagine that I was selected by Elu. And On the day of the Super Bowl,I grabbed the dragon's eggs at DigiDaigaku Discord. Next Lucky thing is that I won the super PUMA NFT raffle. Of course, this good luck also comes from the Not Your Brother community which is a good community. To be honest, these three NFTs are the most expensive ones I have. After that, I joined Rug Radio Chinese Community to meet a group of nice friends. Daniel, the manager of Rug Radio Chinese Community, who will bring us more NFT cooperation and value analysis. Community members will share various raffle information and ways to improve the winning rate. Therefore, I have been immersed in thinking about NFT recently. I will tell my ideas in two parts, the following is relative to the NFT platform.
https://opensea.io/assets/ethereum/0x63217dbb73e7a02c1d30f486e899ee66d0aa5e0b/3526
1. Over allocations / Scam / Bot
Since winning the raffle, I have frequently participated in the NFT raffle, "RT&LIKE&TAG " is usual work .But because of the existence of a large number of bots, the probability of winning the raffle for real users is poor, and the promotion of the project has not achieved the desired effect. Not only that, some swindlers impersonate the project teams to carry out raffle campaign on different platforms, causing users to accidentally click the illegal links, which results the loss of assets. After all, most users have no experience to judge what situation can be safely to sign. So they just only trust the platform at first impression. Therefore, I think the well-known NFT platform can undertake this part of work and deploy smart contracts of raffle on the chain. After all, we are in the Web3.The block-chain's attribute to make everything transparent, reliable and tamper-proof. Because of the cost of Gas fee and the minimum requirements of assets in the wallet, we can significantly reduce the participation of bots and leave the opportunity to real users. At the same time, users can also view the results of winning the raffle and whether there is over allocation a lot on the chain, which will purify our raffle environment. For the NFT platform, don't worry too much about the GAS fee. If the platform continues to carry out the raft;e, I would like to put my ETH on the platform to obtain the long-term lottery qualification, and even sign the agreement to let you use my ETH to participate in the LSD. In addition, NFT platform can also cooperate with Social Protocol, such as CyberConnect and Lens Protocol, which can help the platform to complete DID certification and select effective users for the project. Above all, I think it is good business for NFT platform and every NFT collector.
2. Offline Campaigns
Nowadays, more and more offline campaigns use NFT tickets to participate, which is a scenario to show Web3 things to Web2 users. I think that no matter GameFi or SocialFi, we are not going to replace them, but gradually educate them.For example, Web3 users buy the NFT tickets at the same price and have more interests than their tickets (such as partner IP NFT, resale of ticket stubs, future rights and interests, etc.). So will they be willing to take the initiative to enter us. Of course, the premise of this is that buying and checking tickets is the same convenient as traditional mode. Therefore, the NFT platform should take into account the layout of terminals equipments, and to extend the Web3 brand to life.
3. NFT depository / insurance business
Although my three NFTs are not expensive, they are also the beginning of my journey into the NFT and have special significance for me. Because I need to verify information in various discords or campaigns, I have to put them in my wallet. However, I am worried about losing them in various interactions. I hope that the NFT platform can provide deposit services or insurance services, and I will be willing to pay a certain amount of fees (>.< A little, unless I have a lot of very expensive NFT). I deposit the NFT on your platform and provide some personal information and a back-up wallet, while you provide a credential NFT which has proved that I have the NFT when I need be verified in other interactions. When I need to redeem, I need to provide some personal identity authentication to ensure that when the private key of my main wallet is leaked, I can still use personal information to redeem my assets to my back-up wallet, and hackers can get nothing. Of course, all above are base on the brand strength of the platform and the trust of users.
4. Liquidity issues
Recently, BLUR has attracted many users through airdrop which base on trading points. If the price of $BLUR fell and the return of air drops continued to decrease, this part of liquidity would naturally be eliminated. But when you think about it carefully, high-value NFT don't need liquidity, just as the liquidity of gold is very low, and the gold derivatives have transaction liquidity. If we consider it from another view, the so-called "liquidity" is actually to solve the many issues in the same time, such as retaining the royalties, maintaining the transaction fees, and attracting users. Since the NFT whales are willing to sacrifice the transaction costs to frequent trading by himself in order to get big rewards.So we can low the users input cost to satisfy the public and solve the issues above. What is it? It is the lottery. It is a standard with negative mathematical expectations, but it is also popular. For instance:
Assumption 1: The circulation of each selected NFT is 10000
Assumption 2: The selected NFT series (10000 NFT per series) are staked on platform A for one week
First of all, Platform-A holds a big lottery every week, and the selected three targets of the week is [Super PUMA, GhostBoy, Rug Radio]. AugustSoya staked his GhostBoy#3526 to Platform-A, and Platform-A generated 100 Lottery-NFTs [GhostBoy#3526-LT#1 ~ GhostBoy#3526-LT#100] for it. Each Lottery-NFT is sold at a price of 1USDC and maximum of 100 can be sold. Users holding Lottery-NFTs can participate in the lottery. Therefore, in an ideal situation, the big lottery of the week will generate 3,000,000 (10000 * 3 * 100) Lottery-NFTs, a total of 3,000,000 USDC to the total prize pool. 60% (1,800,000 USDC) of the total prize pool will be distributed to the winning users as a bonus. 15% (450,000 USDC) of the total prize pool as the platform operating expenses. 15% (450000 USDC) of the total prize pool as the rewards to NFT user (Staked). And 10% (300,000 USDC) of the total prize pool as the current selected NFT creator rewards.
The second is to determine the winning regulations. Since the amount of each NFT is huge, we can adopt the method of identifier range, not exact some NFT identifier to determine the winners. For example, the winner of the first prize who has three different types of Lottery-NFT, and three of them are in the published winning range. Suppose the range of the first prize published this time is [Super PUMA#2500 ~ Super PUMA#2599, GhostBoy#3500 ~ GhostBoy#3599, Rug Radio#100 ~ Rug Radio#199].
Harry bought three Lottery-NFTs which are [Super PUMA#2503-LT#098, GhostBoy# 3555-LT#001, Rug Radio#166-LT#001], so Harry's three lottery-NFTs are in the winning range and won the first prize (1,800,000 USDC).
Therefore, in an ideal state, the mathematical expectation of user to win the first prize is
Exp = [(100 / 10000) ^3] * 1800000 + {1 - [(100 / 10000) ^3]} * (-3)= 1.8 - 2.999997 = -1.199997
So controlling at this expectation level, it can not only ensure the enthusiasm of users, but also ensure the platform benefits. The above example is only a simple and thoughtless calculation, but we can see that the needs and benefits of all parties can be soulbound to solve many existing issues.For the platform, it can determine the target of the prize pool, which is equivalent to that the third party empower the NFT project, and raise the liquidity of the selected NFT in a short term, such as some good pure art projects (such as photo NFT). Secondly, part of the money in the prize pool provides new sources of income for the platform and enriches the revenue structure. On the other hand, because the NFT holder is required to stake their NFT on the platform for a week, which will cause exclusivity. (For example, the more amount of the current series NFT staked on the platform, the greater the probability of being selected to the prize pool. ) So it can consolidate the market position. By the way, the trading Lottery-NFTs can also provide part of the royalties for the creators of the targeted NFT, which is friendly to the creators. (If the NFT platform is willing to do that).
This scheme is also beneficial to the creators. First, their projects selected by the platform can stimulate short-term liquidity. And secondly, they can also participate in the prize dividend.
For the holders of the staking NFT, since most of the NFT has no staking function or clear expectation, it is just a picture in the wallet, now the platform gives the additional function to them, so the holders can exchange part of the income with only one week's pledge. Why not?
Finally, for the participants in the lottery, they desire to become rich. As long as they are within the range of cost, their enthusiasm can be expected. If the platform can cover the GAS fee for them, it will be more friendly to participants.
If this business can really go online, I believe there will be some KOL who study the probability of lottery tickets and the probability of the selected NFT to the prize pool, and the NFT market may become more lively.
5. Eliminate NFT
I didn't think of a suitable name to describe this idea. There are some NFTs in my wallet that seem to be Rug or have no liquidity. So I hope my wallet is clean and I hope that the platform can provide a black hole address where I can throw unwanted NFTs into it, which can also reduce the stock of NFTs and improve the rarity. It would be better if the platform can send me some platform credits as interactive rewards.
All above is my recent thinking. I hope to discuss it with everyone. If there is any help for your project, you could give me a reward by airdrop. if you think I'm talking about NFT, and factly what I think is how to use the NFT business to accelerate the consumption of ETH and make ETH deflate rapidly. Next time I want to talk about some ideas about the NFT project. ( >.< )
February is a lucky month. When I woke up one morning, I opened my mailbox and found an email from Premint.xyz, which said that I was selected by Ghostboy and got an AllowList. I can't imagine that I was selected by Elu. And On the day of the Super Bowl,I grabbed the dragon's eggs at DigiDaigaku Discord. Next Lucky thing is that I won the super PUMA NFT raffle. Of course, this good luck also comes from the Not Your Brother community which is a good community. To be honest, these three NFTs are the most expensive ones I have. After that, I joined Rug Radio Chinese Community to meet a group of nice friends. Daniel, the manager of Rug Radio Chinese Community, who will bring us more NFT cooperation and value analysis. Community members will share various raffle information and ways to improve the winning rate. Therefore, I have been immersed in thinking about NFT recently. I will tell my ideas in two parts, the following is relative to the NFT platform.
https://opensea.io/assets/ethereum/0x63217dbb73e7a02c1d30f486e899ee66d0aa5e0b/3526
1. Over allocations / Scam / Bot
Since winning the raffle, I have frequently participated in the NFT raffle, "RT&LIKE&TAG " is usual work .But because of the existence of a large number of bots, the probability of winning the raffle for real users is poor, and the promotion of the project has not achieved the desired effect. Not only that, some swindlers impersonate the project teams to carry out raffle campaign on different platforms, causing users to accidentally click the illegal links, which results the loss of assets. After all, most users have no experience to judge what situation can be safely to sign. So they just only trust the platform at first impression. Therefore, I think the well-known NFT platform can undertake this part of work and deploy smart contracts of raffle on the chain. After all, we are in the Web3.The block-chain's attribute to make everything transparent, reliable and tamper-proof. Because of the cost of Gas fee and the minimum requirements of assets in the wallet, we can significantly reduce the participation of bots and leave the opportunity to real users. At the same time, users can also view the results of winning the raffle and whether there is over allocation a lot on the chain, which will purify our raffle environment. For the NFT platform, don't worry too much about the GAS fee. If the platform continues to carry out the raft;e, I would like to put my ETH on the platform to obtain the long-term lottery qualification, and even sign the agreement to let you use my ETH to participate in the LSD. In addition, NFT platform can also cooperate with Social Protocol, such as CyberConnect and Lens Protocol, which can help the platform to complete DID certification and select effective users for the project. Above all, I think it is good business for NFT platform and every NFT collector.
2. Offline Campaigns
Nowadays, more and more offline campaigns use NFT tickets to participate, which is a scenario to show Web3 things to Web2 users. I think that no matter GameFi or SocialFi, we are not going to replace them, but gradually educate them.For example, Web3 users buy the NFT tickets at the same price and have more interests than their tickets (such as partner IP NFT, resale of ticket stubs, future rights and interests, etc.). So will they be willing to take the initiative to enter us. Of course, the premise of this is that buying and checking tickets is the same convenient as traditional mode. Therefore, the NFT platform should take into account the layout of terminals equipments, and to extend the Web3 brand to life.
3. NFT depository / insurance business
Although my three NFTs are not expensive, they are also the beginning of my journey into the NFT and have special significance for me. Because I need to verify information in various discords or campaigns, I have to put them in my wallet. However, I am worried about losing them in various interactions. I hope that the NFT platform can provide deposit services or insurance services, and I will be willing to pay a certain amount of fees (>.< A little, unless I have a lot of very expensive NFT). I deposit the NFT on your platform and provide some personal information and a back-up wallet, while you provide a credential NFT which has proved that I have the NFT when I need be verified in other interactions. When I need to redeem, I need to provide some personal identity authentication to ensure that when the private key of my main wallet is leaked, I can still use personal information to redeem my assets to my back-up wallet, and hackers can get nothing. Of course, all above are base on the brand strength of the platform and the trust of users.
4. Liquidity issues
Recently, BLUR has attracted many users through airdrop which base on trading points. If the price of $BLUR fell and the return of air drops continued to decrease, this part of liquidity would naturally be eliminated. But when you think about it carefully, high-value NFT don't need liquidity, just as the liquidity of gold is very low, and the gold derivatives have transaction liquidity. If we consider it from another view, the so-called "liquidity" is actually to solve the many issues in the same time, such as retaining the royalties, maintaining the transaction fees, and attracting users. Since the NFT whales are willing to sacrifice the transaction costs to frequent trading by himself in order to get big rewards.So we can low the users input cost to satisfy the public and solve the issues above. What is it? It is the lottery. It is a standard with negative mathematical expectations, but it is also popular. For instance:
Assumption 1: The circulation of each selected NFT is 10000
Assumption 2: The selected NFT series (10000 NFT per series) are staked on platform A for one week
First of all, Platform-A holds a big lottery every week, and the selected three targets of the week is [Super PUMA, GhostBoy, Rug Radio]. AugustSoya staked his GhostBoy#3526 to Platform-A, and Platform-A generated 100 Lottery-NFTs [GhostBoy#3526-LT#1 ~ GhostBoy#3526-LT#100] for it. Each Lottery-NFT is sold at a price of 1USDC and maximum of 100 can be sold. Users holding Lottery-NFTs can participate in the lottery. Therefore, in an ideal situation, the big lottery of the week will generate 3,000,000 (10000 * 3 * 100) Lottery-NFTs, a total of 3,000,000 USDC to the total prize pool. 60% (1,800,000 USDC) of the total prize pool will be distributed to the winning users as a bonus. 15% (450,000 USDC) of the total prize pool as the platform operating expenses. 15% (450000 USDC) of the total prize pool as the rewards to NFT user (Staked). And 10% (300,000 USDC) of the total prize pool as the current selected NFT creator rewards.
The second is to determine the winning regulations. Since the amount of each NFT is huge, we can adopt the method of identifier range, not exact some NFT identifier to determine the winners. For example, the winner of the first prize who has three different types of Lottery-NFT, and three of them are in the published winning range. Suppose the range of the first prize published this time is [Super PUMA#2500 ~ Super PUMA#2599, GhostBoy#3500 ~ GhostBoy#3599, Rug Radio#100 ~ Rug Radio#199].
Harry bought three Lottery-NFTs which are [Super PUMA#2503-LT#098, GhostBoy# 3555-LT#001, Rug Radio#166-LT#001], so Harry's three lottery-NFTs are in the winning range and won the first prize (1,800,000 USDC).
Therefore, in an ideal state, the mathematical expectation of user to win the first prize is
Exp = [(100 / 10000) ^3] * 1800000 + {1 - [(100 / 10000) ^3]} * (-3)= 1.8 - 2.999997 = -1.199997
So controlling at this expectation level, it can not only ensure the enthusiasm of users, but also ensure the platform benefits. The above example is only a simple and thoughtless calculation, but we can see that the needs and benefits of all parties can be soulbound to solve many existing issues.For the platform, it can determine the target of the prize pool, which is equivalent to that the third party empower the NFT project, and raise the liquidity of the selected NFT in a short term, such as some good pure art projects (such as photo NFT). Secondly, part of the money in the prize pool provides new sources of income for the platform and enriches the revenue structure. On the other hand, because the NFT holder is required to stake their NFT on the platform for a week, which will cause exclusivity. (For example, the more amount of the current series NFT staked on the platform, the greater the probability of being selected to the prize pool. ) So it can consolidate the market position. By the way, the trading Lottery-NFTs can also provide part of the royalties for the creators of the targeted NFT, which is friendly to the creators. (If the NFT platform is willing to do that).
This scheme is also beneficial to the creators. First, their projects selected by the platform can stimulate short-term liquidity. And secondly, they can also participate in the prize dividend.
For the holders of the staking NFT, since most of the NFT has no staking function or clear expectation, it is just a picture in the wallet, now the platform gives the additional function to them, so the holders can exchange part of the income with only one week's pledge. Why not?
Finally, for the participants in the lottery, they desire to become rich. As long as they are within the range of cost, their enthusiasm can be expected. If the platform can cover the GAS fee for them, it will be more friendly to participants.
If this business can really go online, I believe there will be some KOL who study the probability of lottery tickets and the probability of the selected NFT to the prize pool, and the NFT market may become more lively.
5. Eliminate NFT
I didn't think of a suitable name to describe this idea. There are some NFTs in my wallet that seem to be Rug or have no liquidity. So I hope my wallet is clean and I hope that the platform can provide a black hole address where I can throw unwanted NFTs into it, which can also reduce the stock of NFTs and improve the rarity. It would be better if the platform can send me some platform credits as interactive rewards.
All above is my recent thinking. I hope to discuss it with everyone. If there is any help for your project, you could give me a reward by airdrop. if you think I'm talking about NFT, and factly what I think is how to use the NFT business to accelerate the consumption of ETH and make ETH deflate rapidly. Next time I want to talk about some ideas about the NFT project. ( >.< )
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