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With current trends in DeFi and NFT, there is a lot of buzz around coupling NFT with DeFi. To that end, we have come up with a new novel and creative idea to combine NFT with DeFI by allowing an NFT asset to work as an independent financial instrument like a bond, or equity. In this article, I will explain the genius idea behind our NFT business model.
Virtual NFT League
In our system, we integrate NFT assets into a virtual league where each player represents an NFT asset. A virtual league consists of 5 clubs. Each club has 4 teams. The total players in a team ranges from 2 to 5 people. There are different types of competitions among the teams and clubs as shown in table 1. Users join a pool prize game by guessing the player who wins the competition. The final winners of each competition will be randomly selected by the smart contract and the total contest prize goes to pooled winners and the NFT owner.
Dynamic NFT Assets
In total, there will be 70 players or NFT assets in our virtual league. Initially, all NFT assets are minted and owned by RealBig. Then, RealBig sells them to the community. Each NFT is sold exclusively via bidding in our platform from a starting price of $500k payable in RealB tokens. All unsold NFTs will be donated to the RealBig foundation. Anytime an NFT asset wins a competition, its owner receives 20% of the lottery prize in the form of royalty and is transferred to their wallets automatically via the smart contract. In the future, we allow our NFT owners to receive yields via staking on their earned royalties. Unlike traditional NFT assets, in our system an NFT asset is treated as a financial instrument with a projected income statement. Likewise, NFT owners can create social media pages for their players and market them directly to others.
We offer the following three types of competitions in our system:
Players within a team competes with one another while competitions run on weekly basis
- Club-level: horizontal competitions
All team within a club compete with one another while competitions run on weekly basis
- Cross-Club level: vertical competitions
Team of same sizes from different clubs compete with one another while competitions run on monthly basis
Table 1. The arrangement of three types of competitions:
* Y is for team level competitions
** Z is for club-level competitions
*** X is for cross-club level competitions
The winning prize of each competition ranges from $100k to $1M. Also, the length of each competition varies from 3 days to 1 week.
Charity Contribution with NFT
In giving back to the NFT and blockchain community, NFT owners can donate their assets or a portion of their revenue to our RealBig Foundation (and other designated charities) automatically via our smart contract.
Watch and Learn
In this article, I briefly review the RealBig platform where NFT assets are offered as financial assets. By building and launching our platform, we advance NFT to lottery fans and financial professionals as well as investors. Since the total number of NFT assets in our system are finite, with growing popularity of our platform comes the exponential growth of the NFT value. Indeed, our NFT assets shall provide their owners and community with steady income 24/7.