Utility VS Rarity — NFT’s & Web 3.0

There are countless 10,000 NFT collectible collections and many being launched every single day, but not many actually take full advantage of the decentralised and secure nature of blockchain technologies.

RARITY

Most collections work off the age old economic principle of “supply vs demand”. The supply is somewhat limited compared to the initial hype of a project, but so many projects will become valueless once the community dissipates and hype fizzles away.

So many projects floor price double within the first few hours of MINTING, however in most cases the floor price is below the MINT price within 48 hours.

Obviously some rare projects shine through and continue to go up in value as they attract the mainstream. This is great for holders of these projects, but since they are so rare most NFT enthusiasts end up holding JPEGS from projects which cannot be sold at all since the market is so over saturated with these kind of PFP (profile picture) NFT projects.

So even if you have been lucky in minting the rarest piece in a collection, in many instances they cannot be on-sold above the floor price, if sold at all.

We at Boostcards think that this approach is the most primitive approach to NFT’s and limit the value they can bring to the NFT loving community and wanted to focus on utility.

UTILITY

A utility based project should bring value to holders even if the floor price is below the MINT price. There are many creative ways this is being done in the community, and we think that this approach has a better outcome for the community.

Our project offers a way for users to extract tangible value from their NFT’s. The first way we are doing this is is with the first game being launched with the MINT, which will be a raffle. The raffle offers 10% of users to 9X their initial bet. The kicker; not all NFT’s are equal and the odds are slightly weighted towards the higher value cards.

In our NFT, the value of each card is determined by 6 attributes (these are broken down on our whitepaper). Together these values give the NFT a boost value which assist in the weighted raffle. People with lower value cards still have a decent chance of winning the raffles against other players, however better cards win more often. We believe that this brings real value to your NFT.

For the players that don’t 9X their SOL are rewarded with Boost Tokens (scaled to the amount of SOL lost in the bet), and these tokens can be used to MINT the remaining cards from the collection.

So when we say UTILITY VS RARITY, this is what we mean. If the project floor price is low, is there any value that can be extracted from the NFT? With Boostcards there is, low floor price or not, you can make bags 💰.

This also allows us to not have to limit the supply too much, and keeps the door open to new players to join our community.

What do you think, do you prefer UTILITY or RARITY based NFT projects?