Using Unifty to create revenue

🌱 Ideas
#1

I have been playing around on Unifty.io and thought it was powerful to be able to create a farm with nft’s I created and designate what coin I wanted to use as the staking collateral. This opens all kinds of doors, right? Doing all of that on mainnet would not have been feasible just to “mess around” with given the enormous amount of gas it would cost. Thankfully, we have choices.

I have been using the platform for about two weeks now, earning and staking $COLD to earn CTC’s collection of NFT’s and learning the processes better. I think this platform could be used to create a revenue stream for the 1hive communities common pool.

Creating collections of NFT’s that require $hny as a staked collateral may also help bring in people that will buy to hold longer term. The NFT’s that are minted are erc-1155 and can have attributes.

It costs 50 xdai to create a farm. I have a NFT I received that will allow me unlimited farm creation for free. I am willing to donate this NFT to 1hive if we decide we can or will use it. Unifty is getting a ton of attention and we could be using the platform for free “advertisement” to people new to xdai chain simply by using it.

Should 1hive consider having a farmable NFT collection?
Create brand NFT’s that allow special permissions?
Allow community to submit art for minting and receive artist fee?

I am just thinking out loud again here. Most are extremely busy with way more important mechanics of 1hive that are way over my head. I do, however, know how to create these collections, mint NFT’s and create unlimited farms for free. Anyone see this vision also? Win win

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#2

Is this something I should be asking the #buzz swarm?

1 Like
#3

Thanks for mentioning CTC! Glad to be helping more and more people learn about 1Hive, xDAI, HNY, honeyswap, unifty and NFT art. Combining xDAI with unifty.io makes this all now possible for artists to get on board with minimal gas fees (less than 1c) and I will continue to be the learning bridge to for artists and collectors to better L2 solutions, with CTC you get rewarded for learning and using the platforms/features for the first time. Many blessings from the Cold Truth Culture crew~

5 Likes
#4

Great idea, I think. This would be a great opportunity onboard NFT artists and collaborate with them in 1hive as well. And I believe people in the buzz DAO, and especially @D0SH @Blazar and @solarmkd would also like to hear this and give it a thought. Maybe this should be included in the agenda in the next buzz call, and I’ll try to be there if I’m not full with my work :smiley:

3 Likes
#5

Interesting, I was going to explore Cold Truth Culture and Unifty.io, glad that you did that. We can try some concepts around the NFT farms , we have some good artists, designers in our community and I am working on bringing many more on 1hive , Cold Truth Culture is good example how this can be done and i love it. I started a Christmas contest recently and we can ask the artists if they would like to allow us to create a farm with those designs and we can then pay them their shares of the rewards , you can see the contest results on #polling on Discord and I will submit forum post later.

Thanks for being here man, sorry i was too busy last week to get back to you but i would like to hear more Ideas for collaborations. I will post a tweet about unifty and CTC to bring some more attention.

6 Likes
#6

That is a great idea also, to ask if the entrants would like to be a part of the first collection 1hive creates. This could create a ton of much needed attention by simply starting this farm. I just received another free farming wildcard. We have have one for mainnet and xdai now. Although has fees on mainnet are extremely inconvenient, people are still staking on unifty. This could one of the use cases for mainnet honey when reverse bridge opens.

2 Likes
#7

And as far as I can understand, the LP tokens are also possible to be used for NFT farming, right? Maybe it wouldn’t result in a huge liquidity flow, but an incentive is an incentive, right?

And I’m sure, we can come up with more creative ideas regarding the use of NFTs.

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#8

Yes, we can set lp tokens as the staking collateral.

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#9

You can also set attributes, which I’m not familiar with but my understanding is this could allow certain permissions by having one in your wallet. Maybe have some private room access or some “treasure hunt” where having/finding one unlocks the the clue to the next. Many possibilities, imagination is the only limitation here. Many clever minds in this group.

2 Likes
#10

I think things like this keep users engaged and active. It also brings more, word of mouth natural growth imo. Using lp tokens as staking collateral will help lock in liquidity. Having common, rare, legendary or genesis nft’s from 1hive may be lucrative on the open market also.

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#11

A treasure hunt, now there’s an idea!

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#12

I’m having a blast diving in to the world of NFTs right now and a feature like this or anything similar to increase user engagement would be really awesome. I’m a gamer so I’d appreciate something fun like this.

The more time I spend on the blockchain and exploring the world of NFTs the less time I find myself spending on actual gaming - but I miss it, so having some engaging features like this with NFTs may curb that itch to be playing games all the time.

From my limited time messing around with some dapps and NFTs, I’ve seen that their userbases can be very explosive. The Banano community is doing some really interesting things with NFT airdrops and dapp games and people are going absolutely crazy over them.

I don’t see why 1hive can’t also capitalize on this.

2 Likes
#13

Was riffing on this idea with @pab and came up with the following initial idea https://hackmd.io/eZkEoWwoTGOXK7hIDAapuA will be brainstorming a bit on on the Cafe call on Friday, if anyone is interested in joining. (check the 1hive community calendar for time)

4 Likes
#14

@theJeweler I WOULD LOVE TO CREATE NFTs UNDER 1hive, going for the 1st one tonight.
Let us unite and do it!