Hey All;
Off lately, I have been buying music cards NFTs from the website vftlabs. So far I did manage to buy two NFTs that are - "Green Emotions" & "God Save The Punk" both the NFTs have been sent to my WAX cloud wallet.
vftlabs; allows you to mint VFT tokens as well for staking major Hive-engine tokens like LEO; DEC; STARBITS; VFT; VIBES; and many others. So when you stake these tokens on the vftlabs website you mint the VFT token. There are 1000 VFT tokens minted daily and here is the proportion of the pools as to how the VFT tokens are distributed.
Vibes - 300 VFT
VFT - 200 VFT
Hive - 200 VFT
Leo - 125 VFT
Dec - 125 VFT
Starbits - 50 VFT
Based on your percentage of staked tokens you get the NFTs for that pool. So as an example; I have close to 100 LEOs staked on vftlabs and on a daily basis I'm minting close to 21 VFT tokens.
For detailed information; check the following post from @al-gaming - VFTLABORATORY 🧪🃏 - Launch Announcement
Till now this was a bit of background and as to how a person can earn/mint VFT tokens and buy themselves a music NFT card. Let's get to the main point as to why I'm::
Buying VIBES tokens & its Miner VIBESM?
- Music industry is worth $20+ Billion & Rising
As of 2019 the music industry's worth was estimated to $20+ Billion and is expected to touch and expected to reach USD 37.61 Billion by 2027 with a CAGR of 8.2% over the forecast period. These are numbers that have been forecasted by brandessenceresearch - Digital Music Industry Market
Digital Music Industry Market is valued at USD 17.10 Billion in 2017 and expected to reach USD 37.61 Billion by 2027 with a CAGR of 8.2% over the forecast period.
According to Goldman Sachs, they are estimating that the Music industry's revenue (live, recorded, and publishing) by the end of 2030 should hit the $131 Billion mark, representing a 6% CAGR
In May 2020,
- Musicians; Artist; Poets & their Fans leveraging Blockchain technology
Just imagine when we see this paradigm shift wherein people associated with the Music Industry start adopting/leveraging blockchain technology to their advantage. This is going to be a huge WIN for all who are the early adopters of the projects tied around the music industry and one such being MUSIC4LIFE here on the HIVE blockchain.
- As LEO is for finance - MUSIC4LIFE is for MUSIC
We all here on the HIVE blockchain have witnessed the growth of leofiance project. In simple words, lefoinance is a place for all the finance/crypto talks and discussions & it has its native token LEO. In a similar fashion, we have MUSIC4LIFE; which caters to in and everything about MUSIC.. sounds interesting isn't iT? The native tokens for MUSIC4LIFE is VIBES and its miner is VIBESM. Considering the music industry's worth and its fan following; I see a huge potential in MUSIC4LIFE project. Rather its already doing very well and the same can be seen with the project development of vftlabs; the VIBES token price and the community engagement level.
Liner Reward APY of 182+%
Based on the hiveengine.usehive.com tool the curation for 19K+ VIBES tokens staked gives a person APY of 182+% AFAIK this is the best APY when you compare to other hive-engine tokens APY
VIBES token economics is the BEST... Total 21 Mil Supply
Yes; there will be only 21 Mil. tokens of VIBES ever circulated. Here is the stats around the total VIBES token in circulation and the total VIBES tokens staked. WE have close to 80% VIBES tokens staked.
The best of all VIBES token Burn with earnings from Vftlabs Project
Also; there is a burn mechanism in place for the VIBES tokens to be burned. The development of the vftlabs it has open doors for the burning of VIBES tokens conistnelty.
Just glance over to @null transaction history and you will notices that every frequent intervals the VIBES token is being burned..
Final Thoughts
When a token like VIBES which has a strong use case, is a viable product that is currently being used by a large community of Music and its fan lovers. Followed by good token economics having a limited supply of 21 il. tokens that will ever be minted along with a burning mechanism in place.. There is no stopping for the VIBES token to explode in near future.. It's just a matter of time - when the VIBES token is going to take off and there would be no stopping.. VIBES is going to be the next proofofbrain POB token exploding pretty soon...
Have Your Say...
Do you know about the VIBES token? And what are your thoughts around the VIBES token economics and overall project?
Best Regards
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PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've bought VIBES tokens and its miners. Have interest in music cards NFTs hence staked tokens on vftlabs to mint the VFT token to BUY NFT cards.
PS:: Image Credits:: hiveengine.usehive.com, hive-engine