Let's have a look at NFT's - Part 1 of 2

NFT stands for non-fungible token. This means that each token is unique. I think the easiest way to explain is there can be more than 1 of the same token but each would have its own unique value, in the same way, there could be 10 Spiderman #1 comics out there with all different values based on condition.

If i transfer you an SPI token, you don't ask which one? because they are all the same. If i send you a Steem monsters card, you what to know which one. This is because each steem monsters cards is an NFT. I will assume that we will start to see a lot of new projects popping up be it collectables, gaming are whatever else so it's going to fun to watch this space grow and see what comes of it. Offering NFT's really open up the gates to really good things for STEEM as it's another layer and something most other blockchains are not offering. The guys over at steem-engine really got their heads on right and are killing steemit in terms innovating. Tron is unloading all the gambling-related project, ETH is taking care of finance and STEEM and EOS are gonna battle it out for gaming!!!

Could SPinvest use NFT's?

I think yes, but in a few months after everything on the steem-engine side is running smoothly and everything has been tried and tested. There are 2 types of NFT's that SPinvest could use, 1 would be a reward token and the other a collectable token with value. I would think the reward token would come first as it could be set up in a few days. The collectable NFT would take a few months of planning, building and testing before being released. The collectable NFT could be the way to get SPInvest to 1 million tokens issued if done right. I think yes, SPinvest could use NFT's but after the market has matured a little bit and we all know what is what. They could turn into a big flop, doubtful but it could happen.

I will go into a little more details on how i think having a reward NFT and a collectable NFT would help SPinvest. Both would have different targets and both targets would be something that SPinvest needs. 1 = Stronger community base and 2 = STEEM growth (issuing tokens). The idea's below are just idea's and we all know as time passes and more knowledge is gained, plans change. NFTs are something that excites me but i will not be looking into starting everything with the next 3 months at least. The reward token will 90% happen as it's very easy to set up and the collectable tokens 40% to happen due to the work involved in making the way i would like it but the reward could be massive.

1

Reward NTF-
These NFT's would be part 1 of a 2 part plan. These would be created to help reward confirmed members for completing small tasks that help SPinvest it's main adjectives. Each confirmed member would be issued a SPinvest reward token (SPIR) and each member would be unique in terms of its value. There is a list below that shows what static rewards we could have in place that would be ongoing and i show example amounts.

• Taking part in a club vote - 0.1 SPI
• 1% reward on tokens bought (100 min) (takes 13 days to earn back)
• Writing SPinvest promotional posts - 0.5 - 10 SPI
• Using SPI beneficiaries (0.50 min payout) - 0.1 SPI

We would also offer one-off random rewards. These could be for resteeming a special post i wrote, taking part in some contest are promotional drive. One-off rewards could also include airdrops of SE tokens and because we only have 40 confirmed members, the amounts are generous. It would only cost 400 LEO to drop 10 Leo on each confirmed member are only 800 Leo, if we did it twice a year.

As for building a base community, giving stuff away as an easy way to do it. It might not attract the big spenders but there is always the chance to catch a whale. Building up any larger base will help us in terms of being able to do things that require a larger number of people. The reward NFT would be highly promoted and targeted toward onboarding new investors more than rewarding confirmed members. We could use our core club members now to promote us to another level by offering rewards. Would you be willing to write a promotional post about SPinvest on the Steemleo frontend for a 10 Leo token reward?

The cashing out process would be very simple. When a confirmed member would like to cash in there NTF, they just burn it. Once the NTF is burned, the owner unlocks its contents. SPinvest will issue a new NFT for that member. These NFT's would not be traded, i don't think so anyway and each members NFT would grow in value depends mainly on how active within the club that member is and lesser about how many SPI tokens they hold.

To round up SPinvest Rewards

• Incentive rewards token for SPinvest confirmed club members
• Used as a marketing tool to onboard new confirmed members
• Part 1 of 2 plan (Grow token holder and confirmed member numbers)

The SPinvest collectable NFT

This would need its own post so that exactly why i will write about this is another post within the next week. The collectable token has a small chance of happening but i have already run the numbers and would like to share them just to show what could be done and how something like these could really help growth spike but it would need to be done right.

There are many things to look at for a collectable NTF and we really need a bigger base of token holders and confirmed members to start with to give such a project a decent chance of succeeding. The things that would look into would be how many cards? what each card does are what it's valued at, how the whole project is set up and then how to market them to sell 50-100k of STEEM's worth. We could not do such a thing now and the code will take at least a month to write and test properly so it's a long way off but still, interesting to look into.

Anyways, expect that post in a few days, as i said, it'll most likely not happen but it's interesting to look into all the same.