The Metaverse calls: NFTs construct virtual economies to stay relevant in 2022
As NFT projects prepare to embark into the Metaverse, it seems they are pivoting from their static imagery to integrating mechanics that provide utility.
Notably, Bored Ape Yacht Club has amassed over $1 billion in total volume and announced a mobile play-and-earn game, while fellow primate projects, CyberKongz and SmolBrains continue to announce and integrate new gamification features to their collections.
Investors seem to not only be searching for projects with strong communities and utility, but it appears technical capabilities rank high on the list too. This notion was made evident after Cool Cats’ Cool Pets collection experienced back-to-back hiccups with its launch, and has since been in a downtrend as holders await their reveal.
Perhaps NFT collections are maturing and focusing on delivering what is promised on their long-term roadmaps. It’s also possible that they are searching for ways to sustain value and relevance with their respective communities in 2022.
Word on the street is, there is a new term to be aware of, “play-and-kollect,” a phrase coined by CyberKongz. CyberKongz is one of, if not, the first collection to integrate a token generating mechanism to its NFTs and a breeding mechanism. Its governance token, BANANA, was introduced as a way for users to personalize their NFT and breed BebeKongz.
In a similar fashion, Franky Nines’ SupDucks PFP collection generates VOLT, the utility token that collectors use to purchase ingredients to spawn a MegaToad. By integrating a token mechanism and model, projects are also gamifying the experience of stacking and holding.
Where my @RealSupDucks family at… who still stacking $Volt to mint another MEGATOAD? #sup pic.twitter.com/ahDJIzL0Y3
To incentivize BebeKongz
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