Thousands of NFT holders have idle collectibles which are not being used most of the time. With a successful launch of our NFT staking solution, we asked ourselves, what if every NFT asset could earn yield? That led us to the discovery of a new product — Drops.
Drops platform will connect digital collectors with creators while adding more utility to NFT assets. Users can deposit their NFTs into Vaults and earn Point tokens. Points act like coupons and can be used to cover up to 90% of NFT’s price at the marketplace. For every purchase users can also get cashback in NDR tokens.
We aim to create a platform where users can get more value from their NFT assets and talented creators get the much needed exposure. Let’s have a deeper look at the core elements of the ecosystem.
NFT vaults bring utility to NFT assets by allowing them to earn yield in Point tokens, which in turn can be used to obtain more rare collectibles. We aim to support all major NFT assets in our NFT vaults. Each NFT is assigned “Weight” (Strength points) to calculate the user’s pool share. These weight points will vary on an asset’s rarity. The amount of Points allocation per NFT Vault will be decided through the community vote.
Points will be at the core of the ecosystem that are rewarded for staking NFT assets in our vaults. Points can be claimed to the wallet but they are not transferable. Instead Points are used within the ecosystem like coupons that can cover up to 90% of an asset’s price. 1 Point is equal to 1 USD. For example, an artwork is set for sale for $1000, it can be bought for 900 Points + $100 worth of Ether or NDR. If a user doesn’t have enough Points he can buy it fully with Ether. We will always keep looking for new ways how points could get more value in form of partnerships and staking rewards.
Drops will be at the center of the platform and will serve as a launchpad for digital artists and NFT based projects. Every drop will be sold only for 24–48 hours, after that, minting will no longer be possible. Acquired Drops NFTs can be staked at our vaults to earn Points. Raised funds from drops are split between artists and Node Runners DAO.
A percentage from Drops sales will be used to buyback NDR tokens and permanently lock them in liquidity. Additionally we can create a fee distribution to NDR holders.
For every Drop purchase users can receive a cashback in our native NDR tokens. Cashback percentage will depend on the amount of LP tokens that the user has staked. Cashbacks are sent upon every successful Drop purchase.
Governing token of Drops platform will be NodeRunners NDR token. Through community votes we will decide which NFTs should be added to the vaults and their Points allocation.
Drops platform is scheduled to launch by the end of February. Meanwhile we will add more NFT staking pools for our partners. Upon launch partner staking rewards will be in Points.
What about fighting Villains game?
We believe that Drops platform will allow us to grow Node Runners community in a way that would not be possible if we launched the villains game first. The game will still remain on our roadmap, however we want to attract more users through the platform to make it worthwhile for everyone. We will host a game testnet presentation soon, where you will get familiar with game mechanics.