There is never a dull day in the world of non-fungible tokens. New projects come to market multiple times a day, yet one can’t be aware of everything. The Cute Pig Club project is rather intriguing, as it combines NFT technology with decentralized finance.
The Purpose Of Cute Pig Club
As a collection of 10,000 pig-themed non-fungible tokens, Cute Pig Club provides unique collectibles on the Ethereum blockchain. However, it is not just an NFT project, as it also combines certain decentralized finance aspects. The value of NFTs can be determined in many ways, although merely relying on the next buyer is far from viable for most projects.
The DeFi ecosystem that is part of CPC will reward NFT holders with 20% of the royalties from the project. Holders will receive rewards based on how long they hold their NFTs and their individual rarity. Holding CPC NFTs for longer periods will increase the rarity of one’s non-fungible token and increase DeFi rewards accordingly.
Moreover, users will receive rewards in CNFT coins, which are automatically sent to holders’ wallets every month. Once the DeFi feature launches, users will be able to claim rewards from the dedicated reward page. For now, there is no word on how much users can earn, but the team will reveal more information once the decentralized finance feature goes live. The first iteration of Cute Pig Club DeFi was slated for release on August 21, but will debut on August 17, 2021 instead.
The CNFT token will allow for new opportunities for users, including receiving rewards as long as they hold NFTs. Moreover, the tokens will be used to buy NFTs, gaming, and other purposes in the future.
Should You Flip Cute Pig Club?
Most people are intent on buying NFTs and flipping them on OpenSea right away. Although there is money to be made that way, it is far from an ideal situation. For Cute Pig Club, there is no immediate reason to flip the NFTs, as holders will be awarded in several ways.
As mentioned before, the team will introduce the DeFi aspect and CNFT tokens to NFT holders. Holding your non-fungible Cute Pig Club token(s) will increase the rarity and the associated rewards. Moreover, holders will receive a barn for their pigs on August 21, 2021. That airdrop will occur automatically, although holders may need to pay a gas fee to collect it.
Speaking of the native CNFT token, it will gain additional functionality in future iterations of the project. Hodlers can use CNFT to purchase Cute Pig Club NFTs and other non-fungible tokens from different collections. It will also play a crucial role in the upcoming Farm game, which is currently under development.
A week later, the “barns” will be included in the CPC DeFi solution, which will offer some fascinating yet currently undisclosed changes. It is expected that all pig and barn holders will receive another airdrop on September 29, 2021, although more details will follow through the project’s official social media channels.
Still mintable: NO
The author of this article currently holds 2 Cute Pig Club NFTs. This article does not constitute investment advice. Always do your own research and invest at your own risk.
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