🤑NFTs
Last updated
Last updated
All In-game assets in the Insurrection game are stored on blockchain in form of BEP-20 standard tokens, as NFTs. The property provides two very basic utilities:
Easy transfer of the assets
Capital gain of the assets
While most in-game assets are present in the game in form of simple NFTs, some are available in the form of Dynamic NFTs.
These Dynamic NFTs change over time, as you advance in the game, and become more valuable. Although these living NFTs prosper a very intruging display, they are very rare in the game.
Offering liquidity backed NFTs is an exciting new feature that The Insurrection game is introducing for it players. This utility elevate the status of the our NFTs from a single piece of art to a monetary backed smart contract.
To understand how Liquidity-based NFTs work it is crucial to know how regular NFTs work.
USE CASE
Let suppose Jimmy buy NFTs from an online marketplace. These XYZ NFTs belong to a Projct X. The Project X has done great marketing and made handful of promises in their Roadmap. However, despite the rigourous marketing, Project X does not lives upto the expectations of the community. Now, as Project X declines in popularity, it's assests also falls in demand on marketplaces. All community memebers who were invested in the project now loses their investments.
On the other hand, in case of a liquidity-backed NFT, if the project loses value over time, the asset holders can simply withdraw from the project and get their investment back.
In this case, Jimmy invests optimally in the Insurrection game by purchasing in-game NFTs. These NFTs are liquidity-based. Here, Jimmy locks 1 BNB in the NFT smart contract. Upon his withdrawal from the Insurrection game, the NFT will be burned and Jimmy will be returned his intial investment of 1 BNB.
This way, in worst case scenario, Jimmy will be proteceted with the threshold of hs intial investment in a smart contract!
