In 2021, the NFT space generated over $23 billion in trading volume. Also, the value of NFT collectibles appraised significantly. We, the MetaPoo Development Team, believe that NFT has more potential than just a collectible.
The Collect Value
First, let’s talk about the collect value.
Humans are complex and sophisticated creatures, able to bend technology to our will and bring imagination to life. But when it comes to collecting, we’re still stuck in caveman mode.
The desire, the need to collect come with us since prehistory. We collect food, water, and other resources, it’s in our nature.
In modern days, there are many reasons people may have for collecting, ranging from a personal hobby to a deliberate pursuit of profit.
Specific psychological phenomena relevant to collecting include the endowment effect (valuing something more highly when you own it) and contagion (valuing something more because of associations it carries, like a famous previous owner, or link to a favorite team).
What makes an NFT valuable
NFT is non-fungile token. It means that nobody can own the same exact copy of something as you. It is the most important part and gives NFT its value.
The creation of NFTs allowed digital collectability could represent a truly unique asset, identified by blockchain IDs and guaranteed by code on the public ledger. Digital items can now benefit from value factors traditionally limited to the world of the physical:
- Scarcity: Smart contracts can guarantee the maximum supply of an asset and set unbreakable issuance limits. If the smart contract governing the creation of a token stipulates that only 50 copies can ever exist, then that’s guaranteed and enforced by cold hard code.
- Utility: Rather than just existing as pictures on the internet, NFT can have a wide range of utilities, including items that function within multiple games and apps. In fact, digital collectibles can even become more useful, as it is possible for any developer to add them to their project.
- Provable Provenance: Blockchain provides a publicly-visible chain of transactions. So, if you’re buying a broken guitar from your favorite band which they used in their last concert, blockchain technology got your back.
- Convenience: Online marketplaces are open 24/7, always accessible when the urge to collect strikes.
- Demand: Because of the convenience of online NFT marketplaces, sellers are less likely to go unseen, as items can be searched by name, creator, or platform.
- Space: Put simply, one of the great advantages of the virtual format is that you can carry your entire collection with you in your pocket.
- Transparency: Even if unscrupulous types try to copy the visuals and descriptions of an existing token, a simple search on a blockchain explorer can prove whether or not it was minted under the platform or address of the original creator.
What is the value of MetaPoo NFTs?
Most current NFT tokens are not guaranteed by traditional assets, making most people think that NFTs are meaningless tokens with no intrinsic value.
However, non-fungible tokens have a lot of use cases, which makes us believe that it has a significant intrinsic value.
The primary value of NFTs comes from the fact that they are unique assets, encrypted, and cannot be counterfeited. Scammers can fake a bag, a luxury watch, money, or a rare painting. An NFT, on the other hand, cannot be faked.
The next value of an NFT usually comes from its scarcity. NFTs typically have a limited supply, and when the supply-demand balance is off, the price of NFTs rises consequently. The intrinsic value of an NFT stems from the fact that someone will always desire to own it.
Aware of that, MetaPoo is one of the leading protocols in combining DeFi and NFTs. NFTs of MetaPoo all have intrinsic value and will be tightly integrated into its MetaPoo’s products.
Poo Series is our first generation in the series of unique feature NFTs. Holders of Poo Series NFT can stake the NFT together with LP tokens, granting them a bonus $MTP reward alongside the normal staked reward.
Each Poo Series NFT will have its own set of performance metrics, such as percent boost and pool eligibility.
NFTs from Poo Series allow you to achieve much higher APR% on your liquidity positions. Besides the fact that they are rare collectibles, Poo Series has a unique utility that can have owners achieve more in their crypto journey.
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