The Non-Fungible Token (NFT) industry is firing on all cylinders, and more importantly, keeps giving rise to new and innovative concepts. Having the ability to collect Presidents of the United States through PixelPotus creates a very different spin on NFTs and how one can use them to achieve better assets. This new NFT-oriented project on the Tezos blockchain highlights the ecosystem’s potential for such offerings, as Tezos is far more energy-efficient than Ethereum.
Non-Fungible Tokens Are Here To Stay
There have been numerous opinions on whether NFTs should have any value at all.. Such discussions are understandable, as anyone is free to create art, tokenize it on the blockchain, and either give it away or sell it through the growing number of marketplaces out there. Just because everyone can create something doesn’t mean it has no value, however, as the NFT industry has given rise to many ventures that try to offer something rare, unique, or innovative.
It is no real surprise that the NFT market transaction volume had tripled in 2020, which is well before the non-fungible token industry started making media headlines. Not only are more people selling and buying these assets, but there are also more new use cases and utilities for what some people deem “clutter”. Nevertheless, the idea of creating digital collectibles that let users experience complete and transparent ownership of their assets remains a valid one, regardless of how many people may oppose it today or in the future.
Why PixelPotus Matters
On the surface, many people will think of PixelPotus as yet another card-based NFT project on a blockchain that will slowly peter out of existence in the months to come. However, every project stands or falls based on its business model and potential use cases, which is where PixelPotus takes a somewhat unexpected turn in this competitive industry. The game revolves around collecting digital POTUes – Presidents of the United States – in pixelated suits, with 45 different POTUSes to collect, and each has six different levels of rarity, allowing for upgrades.
Clever people will know there is something off with the math above, as there have been 46 Presidents of the United States throughout history; however, Grover Cleveland was both the 22nd and 23th POTUS. There is no point in putting the same POTUS in the collectibles twice, nor does he have any extra upgrade ranks over his colleagues, as everyone gets a fair term in this blockchain-based card game.
The Power of PixelPotus Cards
Anyone interested in PixelPotus can claim the first common-quality POTUS for free- barring a minor Tezos network fee – once per day, making it easy for newcomers to get started. There is also an option to mint higher-rarity versions of the POTUS, but that requires players to collect and burn lower-level tokens to achieve the next tier, a concept known as “farm food”. Going from a common to an uncommon rank requires burning two common cards of the same type, which is a fair system.
Outside of the free daily common quality POTUS players can claim, they can purchase five random common POTUSes per day for the price of 0.125 Tez. Time is of the essence when exploring this option, as there are only 5,000 POTUSes to claim every day, which means players have to act fast or risk missing out. Every card can be traded freely across the smart contract-powered marketplace created by PixelPotus, enhancing the game and collectability angle tremendously.
All of the above sounds great, yet it is crucial to understand how and why PixelPotus goes one step further in a bid to attract users globally. Every claim and upgrade process within this ecosystem is subject to a fee, of which 20% will enter a prize pool smart contract known as “The Treasury”. Whenever a player reaches a maximum-rarity level for a POTUS, they can claim against this contract to receive a 25% payout, a cycle that will keep repeating until all unique POTUS tokens are minted. Then, whoever is the proud owner of the last unique token will receive whatever is left in the Treasury at that time, offering an extra incentive to keep upgrading cards while players still can.
As the upgrade process of this game requires “sacrificing” multiple versions of the same rarity POTUS, there will be fewer and fewer tokens in circulation after every action taken on the network. It is essential for NFT projects to come up with a way to introduce scarcity, and burning tokens to create a deflationary aspect is a very solid method that most people will certainly appreciate until the entire POTUS card supply has dried up.
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