Nonfungible tokens, or NFTs, have undeniably taken over the cryptoverse by storm as previously anticipated mostly by several personalities from the cryptocurrency sector such as EllioTrades, as well as from the mainstream media sector such as Gary Vaynerchuk. Attention started shifting to the NFT space when some of the oldest profile picture (PFP) projects namely “Crypto Punks” and “EtherRocks” started making sales above the $10 million mark. Soon, other projects started getting higher valuations by the market, and artists and developers quickly realized there was a market to explore and build upon.
The NFT market is just like any other crypto market and runs on trends and narratives. The ability to identify emerging trends early has proved to be a great skill when choosing which NFT to buy, as it provides investors the opportunity to buy into projects with the potential of multiplying their valuation by orders of magnitude. Currently, the latest projects showing high demand and big valuations in price, i.e., CyberKongz, CoolCats, SupDucks or Cryptoadz all share some traits in common: a genesis edition that grants benefits such as token airdrops, NFT airdrops, access to private discord servers, or the chance to breed new NFTs from the original NFTs and tokens they hold. All these traits come with the goal to provide increased value to their NFT collection and to the community.
Nevertheless, most existing NFT projects fail the test of time because they do not consider making their ecosystem sustainable through creating a positive feedback loop between the NFTs and the underlying token. They often copy the key tokenomics and characteristics of other projects with no real thought or innovation as to how to keep users involved or establish a continuous demand for the token. A case study example is the BSCWIN Bulls NFT project. It comes in with a real use case that focuses on long term ecosystem efficiency and sustainability.
Case study: The BSCWIN Bulls
BSCWIN Bulls is a revolutionary cross-chain ecosystem that hosts the most advanced community driven decentralized lottery and decentralized autonomous organization (DAO). It consists of a community of BSCWIN Bulls NFTs residing in the Ethereum network, a sustainable and fully decentralized lottery on the Binance Smart Chain network through its native token, BSCWIN.
Genesis BSCWIN Bulls NFTs: Everyone is a Bull
The Genesis BSCWIN Bulls NFT art collection consists of 2000 unique PFP bulls generated from over 80 different traits. Out of the 2000 Genesis BSCWIN Bulls, 50 will be distributed randomly to BSCWIN lottery winners on a two per day basis during the first 25 days of the project. These 50 Lucky Bulls will be identified as having a BSCWIN Gold background and, apart from being very scarce, will bear special attributes.
BSCWIN: A cryptocurrency that disrupts traditional lotteries
The native token of BSCWIN ecosystem, BSCWIN, serves as a ticket to a decentralized lottery with an advanced liquidity-lottery payout mechanism that awards a jackpot four times per day, regardless of trading volume.
Buying $250 at launch gives you a 1/105 chance of winning the lottery every day. Even at a 100x launch price, which would be ~$2 per ticket, BSCWIN continues to be a much better deal than traditional lotteries. A Power Ball ticket costs $2.00. BSCWINs ticket never expires, draws multiple times per day and gives you far better odds each time. In addition, this project solves the problem of extractable value in lotteries. Traditional lotteries payout only ~30% of the funds generated to the winner, so 70% of value is lost, which is not the case in BSCWIN.
The BSCWIN ecosystem is designed in such a way to create a positive feedback loop between NFTs and its native token. This exists within an ecosystem strongly oriented towards the gradual acquisition of Bluechip NFTs with an increasing projected value over the years to come.
One personally might not be able to afford an Ape or a Fidenza or a Punk individually, but collectively as a DAO, they still could. Since its inception and design, the Bulls have aimed to create opportunities for everyone, and it’s refreshing to see these NFT Communities succeeding.
“In an ocean of new upcoming pfp projects, it’s good to see one that has an actual innovative product. It is multichain, has a sustainable model like CyberKongz or Cool Cats and quality art like Bored Apes or Lazy Lions. Plus everyone is a Bull, so you have literally the most bullish community. Really excited for this launch.” said adviser and popular crypto influencer Crypto Pilot, founder of Group Starship.