The NFT project: What are they, and why should we have them?
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There is a new addition to the cryptocurrency world, and these are Non Fungible Tokens or NFTs.
NFTs, defined
NFTs, or non-fungible tokens, are digital tokens that act as an authentication certificate for a product such as digital arts, best shots from your favorite NBA scenes, games, and more. In addition, these tokens are generated using blockchain technology. Because it is built on cryptographic mathematics, this type of technology is almost unhackable.
NFTs have been around since 2015, minted first on the Ethereum blockchain. However, it was only this year that the NFT market has surged, with sales over 2 Billion USD in just the first quarter of the year alone.
On October 2021, CryptoPunk #9998, a part of a collection of 10,000 NFTs, has been sold for a whopping 530,000,000 USD; that’s just the beginning!
Also Read: PRV For Your Thoughts: NFT craze, on!
Rarity is the key: PrivacySwap’s NFT
The CryptoPunks began in 2017, and only it has 10,000 NFTs in circulation to date. Similar to PrivacySwap’s Genesis NFTs, it also has a limited quantity of 1,500. Five hundred of which are allocated for Silver NFTs, 500 for Gold NFTs, and 500 for Diamond NFTs.
The best thing about PrivacySwap’s limited NFTs is that they can be staked to boost your farm and pool rewards up to 50%! With this limited quantity and an ever-growing community, competition will be tough as these are literal gems for the liquidity pools. As we all know from basic economics, when the supply is low, and the demand is high, the price for these NFTs will inevitably be high in the coming years as people will surely want to get their rewards or profits boosted.
The rarity of PrivacySwap’s NFTs can be considered one of the highlights of the Great Migration as it basically means that not all of those who put their PRV2s in liquidity pools and farms have the privilege of boosting their profit, and those who have them can easily increase their APR.
If you look at it, it would be best to have these NFTs as they are the key to a lifetime privilege in the PrivacySwap ecosystem long as the hodler hodls them. At every angle you look, it makes sense that you start minting these NFTs as 1) they don’t have an expiration date, 2) they come with privileges, and 3) they will surely appreciate in value.
A Gallery of NFTs: A profitable venture
Having a collection of PrivacySwap’s NFTs is a great venture to have. With its limited supply, you can easily put it in the market and wait for people who want to boost their pool and farm APRs.
Similar to what every NFT collector does, you can hoard PrivacySwap’s NFTs and hodl them for a couple of years, or simply put it in the market by which anyone can place their bids. The price per NFT will surely surge as these NFTs have a utility that no other NFTs can fulfill. It is the only NFT that has can provide you privileges in PrivacySwap’s ecosystem, and nothing can replace them.
With this said, the usefulness of an NFT is the bread and butter of every crypto project as it does not only sit in one’s wallet but can be actively used to further your profits. PrivacySwap’s NFT has that functionality, and having it would be the best investment one could ever have.
Summary: Why should we have PrivacySwap’s NFTs?
It’s simple. We all know that every successful crypto project became such because it has utility and not just a piece of token you can buy and store. Some tokens can be staked to earn money, some can be used to pay for goods or services, and some can be used to store wealth. In these kinds of tokens, they have value as they have utility.
Similarly, PrivacySwap’s NFTs have the utility of boosting your profits up to 50%! It’s not just a digital artwork that you can own; it can also expand your APR and give you added privileges in the ecosystem. Without such, it cannot be done in any way.
It’s a smart thing to have PrivacySwap’s NFTs as they are rare due to their limited quantity and your key to the privileges that only 1,500 users, or less, have.
Also Read: 3 reasons why PrivacySwap is a great platform to invest
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