Lets have a look at NFT's - Part 2 - SPinvest collectable (investment) cards

Hello, today i will be mostly talking about part 2 of having a look at NFT's and how we can use them for SPinvest's growth. Yesterday we briefly looked at what an NFT is and how we could use them to set up SPI rewards token for confirmed club members to encourage club activity and SPinvest promotion. Today we are going to look at how SPinvest could use NFT's to create a collection of collectable tokens on the STEEM blockchain.

What is an NFT?

NFT stands for non-fungible token. These are the newest thing to come out of steem-engine and by using their new site https://next.steem-engine.com/, anyone can create an NFT for 100 ENG. Each NFT token can hold up to 10 SE tokens, be connected to a smart-contract and give STEEM a whole new purpose of use. These could be game-changing and launching NFT's is a very smart move as these are perfect for gaming and i personally think STEEM is a gaming blockchain.
Something that is non-fungible means there can more than 1 but each worth different dollar value. The different between fungible (STEEM) and non-fungible (SM cards), is If i send you STEEM, you ask how much? When i send you a Rexxie steem monsters card, you ask which one? STEEM is all the same and identical but there are many different types of Rexxie steem monsters cards depending on deck and upgrades. I think that's the easiest way to explain.

The SPinvest Collectables Deck

This is just an idea and the chances of it happening are slim as it depends on a few things but the opportunity for growth would be massive. These would not be aimed toward people that are already invested into SPinvest, these collectable NFT's would be a great promotional tool and way to spread the word about SPinvest and raise STEEM while doing so. The easiest way to explain these is to think Steem Monster cards without the game. A SPinvest collectable deck of NTF's would consist of 24 different cards and each card would be backed by a different asset. They would be issued out in packs of 5 in the same way steem monsters cards are issued so the cards you receive are random. They would-be tradeable on the steem-engine exchange and they will have a limited number.

From now on, i going to refer to the NFT's as cards I ran some numbers just to see what's what and if it would be worth our time to pursue something like this and the results show yes. Even on a very small mintage of 10,000 cards which would be 2000 packs of 5, we could add 20,000 STEEM if each pack was sold for 10 STEEM. That might sound expensive but 10 STEEM is only $1.50 and cards are backed by real assets.

Using the shots below will give a better idea of the sort of thing i am thinking about. We could have 24 different cards split 6 types of card by 4 colours. I think the table is easy to understand. There are 4 "crypto" cards but each colour represents are different crypto, same with precious metals, stock & shares and all-rounder cards. Mr SPinvest tokens all carry the same SPI value and Founder tokens carry different values and are the rare cards of the deck.

Next, we would need to think about how many to issue and how to split them up. So going from the Mr SP Invest card being to most abundant to the founder card being the rarest and using an example of issuing 100,000 we get these results which are 20 over target but roughly where we what to be. You might be thinking, 24 cards is not a lot and the packs will be the same but i googled it there are 16,777,215 different combinations so each pack would be completely different from the next are the one before it.

Lastly, we would look at pricing. This dictates how much each card is backed by. In the shots below, the numbers are based on selling each pack of 5 cards for 10 STEEM each which values each card at 2 STEEM.

Target 100,000 Cards

The plan would be 100k cards in total but split into 3 different classes in much the same way as steem monsters have alpha, beta and untamed. To issue 100k cards, we would need to sell 20,000 packs of 5. That would something like 2000 gold packs at 10 STEEM, 6000 silver packs at 5 STEEM and 12,000 copper packs at 2.50 STEEM. The mintages in this example would be 10,000 gold cards, 30,000 silver cards and 60,000 copper cards. Gold cards would be valued the same as the shot above, silver cards would be half the value and copper cards would a quarter of the value. After 100,000 is issued, there would be no more packs for sale ever. The only new cards would be limited editions with limited mintages that would be a random thing.

How to back it all?

This is the risky part and we would need to use cost averaging plan when backing these cards. With the end goal of having cards that are backed by a certain amount of BTC, silver are % of a FTSE fund, we would have to understand that until all cards all sold values will fluctuate.

Using a cost averaging plan, we would collect on the STEEM from card pack sales and once a week convert it all into fiat and then into the investments. Sounds like a lot of fo work but i can do the lot from 2 websites in 13 transactions.

This results in a fluctuating value each week until all 100,000 cards are issued. All this time, the values will be locked in and each card will be worth a certain amount of BTC, Silver, SP 500 are whatever. The value of each card would not change too much from weeks to week but the longer it takes to issue the cards, the more exposure there is the price fluctuation. For now, this is the best way i can think of the fund the project.

Burning SPinvest cards When someone burns a SPinvest collectable card, they will receive the STEEM value of it's worth in SPI tokens

Benefits of having a SPinvest Collectable card series

There are many. First and foremost, it would open up the gates of SPinvest to a whole range of investors. A project like this would be sure to go viral and get the attention of the whales. People love projects like this, they love buying packs and the gambling element that they could receive a founder token. The will love that each pack increase's their investment into assets that will increase over time. The STEEM raised would help us issue many more SPI tokens and increase our earnings to new heights. There are too many benefits to list, im sure you can think of some.

These could be the first are one of the first investable NFT's on the STEEM blockchain and SPinvest should the one that produces it as we are already established and have a foundation in place. Providing the reward NFT for confirmed members goes as planned, we should see an increase in both token holders and confirmed members giving us a better chance of a collectable deck being a success. After the deck is sold out, there will only be limited edition cards issued for limited times and these have the potential to really boost our growth and income to newer heights.

The setup work required

There would be a lot of work involved in setting up such a project but it's mainly planning everything so that when it comes time to edit the code, we are ready. There will i assume be a few club votes on different things in relation to this over the coming months as to what and how we approach this.

Someone has already written an opensource basic code and uploaded it to GitHub that lets people issue NFT's in packs. I have enough experience to edit the code and change the values to our requirements. I'm not saying it'll be easy but if i can put enough hours into it, i can do it.

The set up is 99% of the work required as after they launch in theory everything runs on a bot and its all automatic. The only work for us would be producing promotional posts and answering questions.

That pretty much rounds the idea up. Something like this might are might not happen as it depend's a few different things out of my control. I think the idea is a good one and if anything, it's interesting to look into and see the potential is could provide us

Feedback encouraged as always

Posted via Steemleo