Adding value to our token project with NFTs
We’ve just announced the upcoming mint of the “Downbad Degens” NFT collection and the whole team at DWNBD is really excited about the upcoming mint. Some early investors in the token expressed concerns, asking if this new announcement might actually hurt the development of our token and the roll-out our upcoming PIE (Passive Income Engine).
In fact, the NFT project is going to have the opposite effect. We believe the NFT collection will actually help us strengthen the project and accelerate the growth of our ecosystem.
We designed the collection first with the intent to create something fun that degen traders would actually resonate with. But beyond that, we wanted to incorporate utility and actual value from the get-go.
50% of mint will go towards a large scale buy-back on $DWNBD. We’re looking at a buy-back value over 1000 AVAX, which is going to create a tremendous positive price movement on the market. A buy-back of this scale on a small cap like $DWNBD doesn’t go unnoticed, and delivers instant value to our investors.
$DWNBD tokens purchased during the buy-back will be used to fund a large staking pool. Downbad Degens NFT owners will be able to stake their Degens, and earn $DWNBD rewards. The rewards will be released slowly over a period of 6 months in order to avoid sudden and extreme sell pressure that would otherwise bring the price of $DWNBD down. Staked will create more scarcity on the market, increasing floor price on the collection itself. Both $DWNBD holders and Downbad Degens owners benefit.
The other 50% of mint will be allocated towards hiring more resources and attracting coding talent to accelerate the development of our Passive Income Engine (PIE). This will allow us to roll-out a fully functional product much quicker, another benefit for our investors.
As we implement our Passive Income Engine, owning a Degen NFT will enable $DWNBD token holders to mint a yield-bearing NFT reflecting Dividend Payout Shares. This mechanism will allow $DWNBD token stakers to essentially trade Dividend Payouts prior to the dividends having been issued and paid out. This will create a secondary market for Dividend Payout Shares akin to futures contracts. The minting of these yield-bearing NFTs will be available exclusively to Downbad Degen owners.
In addition to these built-in incentives and groundbreaking mechanisms, we’ll soon be announcing a partnership to unveil even more utility for the Degens, in the form of a tax rebate coupon on another token.
As you can see, right from the get go we’ve gone the extra mile to ensure that value is created and distributed to all parties involved. And as we keep pushing forward we will continue to roll out new use cases and utilities for these first gen Degens: air-drops, exclusive mints, P2E opportunities, breeding… the options are unlimited.
Stay tuned for more details as we keep rolling our the various aspects of our ecosystem.