Hello peoples, today I would like to talk about NFT's and what other use cases could be introduced to HIVE other than gaming. I have no beef with gaming NFT's but adding new ways to use things is always better. To start off I am not as clued up on HIVE as I used to be so there might have been some advances made without my knowledge. Im online every day but over the past year, we have seen hundreds of projects/tools and services added to the HIVE blockchain and it's hard to keep up with anything. Having to use google to search for HIVE articles is not ideal and the information I seek has probably already been written about but I can't find it. Anyways, let's get started.
So we all know what NFT's are and most of us will be aware that we've had NFT's a long time already on HIVE. STEEMONSTERS was released on STEEMs second layer long before Defi and NFT's were buzz words within the crypto space, long before people were talking about second layers. Since then we've had lots of new NFT games released, most of them turn-based management games. The problem with games is, players, expect to make money and you end up with "investors" and not "players" but some games are very popular and have in my option raised the profile of HIVE outside of HIVE.
After gaming NFT's were introduced, we got NFT marketplaces (https://nftm.art/) to cater to gamers looking to trade their cards and soon after this, we were able to create custom NFT's using own our art on dapps like (https://nftshowroom.com/). And most recently we have had PUNKS (https://punks.usehive.com/) which sold out in around 1 day showing there's a hunger there for NFT's. I think that covers 95% of the NFT market, we have NFT games, art and collectable clipart. What's next, what has not been done yet?
What about physical NFT's? are NFT's that represent a holding that pays a dividend?
When I very first heard about NFT's, I remember I was on some discord server and Eco-instant was talking about creating baskets of assets and putting them onto a unique token that was connected to a smart contract. This was maybe 4 years ago but back then I remember thinking NFT's could change the world. Upload your house deeds to the blockchain, car ownership book, insurance policies, everything you own. I thought, shit in 10 years time I could be eating a premade salad and be able to scan a QR on the side of the pack to show me a full farm to fork timeline including dates, locations and whatever else. But not just food, everything, clothing, electronics, tools, everything we buy and own. I thought the future was here. Im still sure it is but right now, it's all about clipart that sells for millions of $. Im cool with that, it brings light to the crypto space, there are alot of scams and if you with little to no ethics, would not be that hard to turn $5k in a few million by creating a clone NFT project, opening discord&telegram groups, promise the world (some 3d game), pay crypto influencers to promote it and then rug and disappear like a fart into the wind. Overall, I think the good outweighs the bad, most people that lose money in such scams are chasing dreams of getting rich quick. Greed is the best marketing tool in the world and in an unregulated crypto space, wild west rules apply and common sense is required.
Getting back to point. We have games, art and clipart collections, what's next?
Would there be a market for physical things on HIVE? what if you could transfer the ownership of your PUNK to a t-shirt? are what if you could transfer the ownership of a super rare Splinterlands card to a physical card that was shiny and came in a really nice presentation box with LED lights or a custom 3D model of said monster? Sounds cool but I do not think there is much of a demand for physical things on HIVE. Another thing we have to factor in is users dont like to share their addresses. I believe that a demand for 1 off's would be there to sell 100-250 items, maybe a yearly item. Bottle of HIVE vodka, custom HIVE Zippo light, deck of HIVE cards, etc.
What if PUNKS paid out rewards? What if we could introduce a PUNK like series that paid out rewards? Im not pissing on PUNKS, just looking at it from a different angle. I saw 200k HIVE going into the PUNK wallet and thought, GOD DAMN, that's alot of cheese for some thumbnail pictures (I put 1500 HIVE in for SPI 😁) and then I thought I wonder what Marky is gonna do with that HIVE. It's his HIVE, no question and I know he has been working on PUNKS, adding new features to the website and stuff. Im sure he's thinking/debating or working on a use case but that's his baby. I think what if that money was used to generate an income? It's been done on other blockchains already. Maybe PUNKS is just the first in the same sense that Splinterlands was the first proper game on HIVE but now there are many.
What I think is what if a clipart series of 10,000 NFT's were issued at 10 HIVE each to rise 100k HIVE. Each NFT clipart has different traits giving it a total score. That score determines the NFT's percentage of income generated from the 100k HIVE collected in the simplest terms. In more complicated and gamified terms, different traits do earn different incomes are a mixture of many. As a lose example, male clipart could earn BRO tokens and female clipart could earn LOH (ladiesonHive) tokens. If your clipart is a business guy, it could earn LEO, if it's a rocker it could earn STARBITS, city developer could earn SIM, an actor could earn CINE and so on, we have tokens for everything already. Point is, something like this could be amazing and with my background with SPinvest, my mind is racing with ideas and has been for years already of the possibilities. I believe I could put together a very good monetized NFT clipart series model but only on paper. My skills are more asset management, planning and distribution based and I lack the skills to transform my thoughts into code. I guess I could create NFT's but they would be of poor quality and the code for a marketplace and NFT distribution is a few levels beyond me.
Even something stupid like 1000 clipart NFT's you sell for 100 HIVE each to collect 100k HIVE. You split that 100k into 10,000 batches of 10 HIVE and relabel them as score points. Each score point earns a passive HIVE payout daily. You randomly assign those 10,000 score points to your 1000 NFTS ranging from 1 to 20 score points per NFT. Each day, each NFT either loses are gains 1 score point so 500 NFT's would lose 1 point and 500 would gain 1 score point randomly each day. That would mean that each NFT's earning potential and value would always be changing and in turn create an active marketplace (maybe). People buy low score NFT's and wait for lady luck to increase the scores for reselling to buyers that want the high HIVE dividend and gamble with the variance that score will remain high. There would be tens of ways someone could approach this in order to turn a profit.
Easy idea and if done right the community would eat it up but as I said before, no coding skills.
Anyways, that is where I think the focus of NFT's should be on HIVE. On finance through backed projects earning people money. Gamified HIVE. Physical NFT's sound good but would really be a gimmick. Games are cool and I understand we gotta start somewhere but most massively underdeliver what is promised are written in a whitepaper. Plus games from my POV are used as a way for players to make money/income by earning created from thin air tokens with no real value. Also claiming gaming to be a passive income is wrong, pisses me off when I see people write about earning a passive income from gaming as it requires active input. Sorry just one of my pet peeves, same as Cubfinances URL being cubdefi.com when it's not defi at all, it's very much cefi. I have no problem with cefi, most of my crypto is in cefi but label your shit correct, ya know? Moving on, if these games were not be monetized, I think the player numbers would be much smaller because the gaming side of things, the actual gameplay is not great. Art is cool, clipart collections are cool but what if they did something for the owner? People are motivated most by money and the idea of an NFT that was 100% backed by HIVE and generated a passive HIVE reward to the owner is a no brainer. At the end of the day, we all want HIVE, not some gaming token that is being minted and issued like there is no tomorrow coming.
If you are 1 of the 9 people on this planet that can write frontend and backend code and make it work on hive-engine, I have the idea's and resources required. I can give you time, money, distribution formula's and I'll make you feel good when your feeling sad with sweet words and empty promises.
If you are 1 of the rest, what do you think? Could HIVE be gamified using NFT's and would there be a demand for it? I mean, why play the game for rewards in crappy illiquid tokens when you can not play the game and get rewards in HIVE?
