If you have ever tried to sell a Hive Punk NFT when there simply are no buyers around then you know how it can feel- frustrating, irritating, annoying! Waiting around when you're in a crunch for cash is no fun at all, especially when Hive is pumping like crazy.
The solution: PunkMaster Token (PUNKZ) where 100 PUNKZ will always equal 1 Hive Punk NFT
Turning Non-Fungibility -> Fungibility
Because of the nature of non-fungible tokens themselves NFTs are notoriously difficult to liquidate quickly. They have their own attributes, rarities, and individual traits just like artwork so each one has to find a unique buyer typically. What one person likes another person may dislike, so this means buyers can get very picky at times! When the market is not feeling bullish this can mean sitting on your hands, and your NFT, for a very long time resulting in missed investment opportunities.
In order to solve this illiquidity problem with NFT markets you have to create a dynamic solution which generates a constant supply of liquidity while also maintaining a guaranteed profit margin. To accomplish this we will make non-fungible tokens behave like fungible tokens by creating a derivative which tracks the floor price of the underlying asset.
How it will work:
- Market liquidity- PunkMaster tokens will be listed for sale on Hive-engine at 10% above the Hive Punk marketplace floor price (per 100 tokens), which is the lowest priced punk at all times. Buy orders will be placed 20% below the floor price, per every 100 tokens.
- Instantly sell- If you want to sell your Hive Punk simply send it to the account "vipservice" and contact me in the VIP Lounge Discord
- Get PUNKZ- Once the market price has been verified your account will receive 100 PUNKZ tokens for each Hive Punk, which can be traded or held for future appreciation.
- PUNKZ Pawn- Hive Punks may also be used as collateral in exchange for PUNKZ tokens. Users will have two weeks to reclaim their Hive Punk, at 20% premium, or risk liquidation. Some limits may apply and terms may be amended.
- PUNKZ Swap- When the Hive Punk inventory is sufficient we will offer PUNKZ Swap where users can trade in their floor punk or 100 PUNKZ, plus one HIVE token, and receive back a randomly chosen Hive Punk (under 100 rarity) from @vipservice. This service will be limited to one punk per user per day.
- Fractionalized Ownership- PUNKZ creates fractional NFT shares out of each Hive Punk. This allows more users to participate at a lower barrier of entry, driving market demand.
DISCLAIMER: This PunkMaster Token White Paper v1 is for information purposes only. VIP Service does not guarantee the accuracy of or the conclusions reached in this white paper, and this white paper is provided “as is”. VIP Service does not make and expressly disclaims all representations and warranties, express, implied, statutory or otherwise, whatsoever, including, but not limited to: (i) warranties of merchantability, fitness for a particular purpose, suitability, usage, title or non-infringement; (ii) that the contents of this white paper are free from error; and (iii) that such contents will not infringe third-party rights. VIP Service, PunkMaster and its affiliates shall have no liability for damages of any kind arising out of the use, reference to, or reliance on this white paper or any of the content contained herein, even if advised of the possibility of such damages. In no event will VIP Service, PunkMaster or its affiliates be liable to any person or entity for any damages, losses, liabilities, costs or expenses of any kind, whether direct or indirect, consequential, compensatory, incidental, actual, exemplary, punitive or special for the use of, reference to, or reliance on this white paper or any of the content contained herein, including, without limitation, any loss of business, revenues, profits, data, use, goodwill or other intangible losses.