How to Prevent NFT Cash Grabs

Publishing Date
February 4, 2022
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Current State of Minting NFTs

Minting NFTs in a large collection looks like this today:

  1. Creators launch 1-10k supply of NFTs
    1. In this, they promise a future roadmap, so long as you are a holder and supporter
  2. Collectors buy into these NFTs with belief in either the vision or the ability to earn money through flipping these NFTs (the latter being more prominent)
  3. Creators get swathes of money from collectors, and more from royalties
  4. Creators could execute on this vision if they wanted to

What if it looked like this instead...

  1. Creators launch 1-10k supply of NFTs
    1. Still show a roadmap and future vision
  2. Collectors buy into these NFT and the crypto used to buy NFTs are immediately staked
  3. Staking rewards go to the creator
  4. Collectors can pull the money they paid out at any time OR keep the money staked
    1. If they pull out, they also give up their NFTs
    2. If they keep it staked, they also keep their NFTs

We need less rug pulls, and more real value, sticking it out for the long-term.