NFTs build virtual economies to be relevant in 2022, according to the Metaverse

The NFT keyword for 2022 is “utility,” and a few forward-thinking projects are preparing to enter the Metaverse by including gamification and token emission tactics into their plans.

As NFT projects prepare to enter the Metaverse, it appears that they are shifting away from static visuals and toward incorporating useful physics.

Bored Ape Yacht Club, for example, has amassed over $1 billion in total volume and announced a mobile play-and-earn game, while CyberKongz and SmolBrains, two other primate initiatives, continue to unveil and add new gamification aspects to their collections.

Investors appear to be looking for initiatives that not only have strong communities and utility, but also have excellent technical capabilities. This was noticeable after Cool Cats’ Cool Pets collection launched with back-to-back delays, and has since been in a downward trend as holders anticipate their disclosure.

 

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Perhaps NFT collections are maturing and concentrating on delivering on their long-term plans. It’s also feasible that in 2022, they’ll be looking for strategies to maintain their worth and relevance in their local communities.

The goal of these projects is to secure utility

According to rumour, there’s a new term to be aware of: “play-and-kollect,” coined by CyberKongz. CyberKongz is one of the first, if not the first, NFT and breeding collections to include a token generation method. BANANA, the company’s governance token, was created as a mechanism for customers to customise their NFT and breed BebeKongz.

Franky Nines’ SupDucks PFP collection generates VOLT, the utility token that collectors use to purchase ingredients to spawn a MegaToad, in a similar way. Projects are also gamifying the experience of stacking and holding by incorporating a token system and model.

CyberKongz revealed that each genesis or BebeKong could be redeemed for a CyberKongz VX to reward BebeKongz owners and provide them with functionality. CyberKongz VX are 3D pixelated renditions of the CyberKongz collection.

Since its launch on Aug. 15, 2021, the daily average price of CyberKongz VX has risen approximately 193 percent, sitting at a thin 2.4 Ether ($6,430.22) floor with a 7-day average of 3.5 Ether ($9,377.41). In the CyberKongz in-game Jungle Adventure, CyberKongz VX have lately been given usefulness.

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Holders of CyberKongz VX can use the Jungle Adventure to earn Kongnium Ores (ERC-1155 tokens) that can be redeemed for unique NFTS and BANANA reward pools.

In the CyberKongz ecosystem, the underlying principle of play-and-collect is that each piece in the collection is designed to play a significant part in delivering usefulness. Pieces are no longer merely aesthetically beautiful; they are also functional. Cool Cats’ burgeoning collection Cool Pets will be able to earn an in-game token GOLD. CyberKongz isn’t the only collection focusing on gamification to offer its NFTs usefulness. Users must have MILK to claim the GOLD, which Cool Cats will soon produce on a daily basis.

Other projects have recognised that a community-collective is just as valuable as utility outside of gamification.

The community was built for the community, by the community.

SmolBrains is the pinnacle of a grassroot initiative, built on the Treasure.lol world and established by Treasure DAO. The project is an NFT game built on the Arbitrum network, with a dynamically changing primary PFP.

The SmolBrain begins as a happy-go-lucky monkey that, after being staked, grows in intelligence and brain size. Every IQ achievement unlocks a new feature on a user’s Smolville land, incentivizing them to stake their NFT.

The Smolbrains community literally and figuratively went to the moon, with a current floor price of 2,525 MAGIC ($10,065) and fewer than 180 listings out of 13,742, indicating that many collectors, gamers, and science fiction pundits trust in the Smolville ecosystem and its prospective rewards.

Pets appear to be in season, as SmolPets have appeared for all SmolBrain and SmolBody owners. While DeadFellaz has just released its DeadFrenz collection, which is expected to be useful in the horde environment in the future.

Strong communities are frequently cited as a cause for the popularity and success of certain collections. Strong communities, on the other hand, are looking for measures to ensure that they get a return on their initial capital investment, and rightly so.

Purchasing art is more than a capital investment for some NFT investors. Members of the community contribute their time and talent in project initiatives, and development teams strategize how to capture and hold their attention in order to preserve and increase the project’s value.

 

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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