The spike in Non Fungible Token (NFT) sales since the beginning of the year is evidence of the fact that the crypto bull run has extended to NFTs as well. A report from NonFungible titled “The NFT Yearly Report 2020” even stated that the crypto bull run in the latter half of 2020 running into 2021, is “just the harbinger of a new Bull market in the NFT industry”.
Furthermore, according to data from Cryptoslam, more than $200 million of crypto collectibles were sold just in the last 7 days, with NBA Top Shot leading the board with nearly $139 million in sales followed by CryptoPunks and Hashmasks.
In this fast expanding NFT bull market, a Consensys backed venture, EtherCards steps in to launch their platform’s framework on Mar. 4. Their framework would allow users of the platform to optimize the opportunities and value of the NFT Tokens that they would choose to hold. The framework is composed of two distinct parts, firstly, the EtherCards platform and secondly the EtherCards NFT tokens themselves.
Participants can maximise their benefits using this frameworkEtherCards plans to launch a community driven NFT framework that would optimise the expansion of the NFT marketplace to enable capabilities beyond what is currently the industry standard and adds various gamification solutions like bounties, tickets, and puzzles.
Their tokens are structured in a way similar to priority membership cards that give holders access to a range of benefits depending on the type of card they hold. EtherCards focus is to provide a gamified experience to the card holders through this framework which is more engaging and exciting when compared to existing marketplace competitors.
These cards will be distributed on a first come first serve basis starting on the launch date of Mar.4. To guarantee that there is fairness in the cards distribution, EtherCards has enlisted Chainlink’s Verifiable Random Functions (VRF’s) which ensures random distribution at the point of sale.
EtherCards launch day is set to be crucial for usersUsers adopting the platform and opting for cards on launch date will entail extra benefits unlike the other sale periods. To this end, EtherCards has declared that the tokens offered for sale on launch day would have extra benefits when compared to the tokens offered anytime after the launch in the future. A few rare cards would even offer the features from day of launch till the end of the March.
In addition to these, there are a variety of features that EtherCards would offer users and platform adaptors on the day of launch. Some of these features are listed below:
Free Services - This feature is specifically for creators and artists offering them more incentive to own an EtherCard. Their cards’ traits would give them free services on the platform like setting up a puzzle, creating a ticket without the essential setup fee and so on. In a rare occurrence, some of these cards could also offer the holder all of EtherCard services for free, including ones yet to launch.
Discount - Cards holding this trait would offer discounts ranging from 5% to 25% on EtherCard’s store to the holders.
Special - Cards having this trait gives users one to three extra tickets every time they include themselves in a Ticket, thus increasing their chances to win the Ticket.
Get Lucky - Cards having this trait would offer holders higher quality and rarer cards when picking cards from blindbags an thus could lead to several of the advantages mentioned above.
The EtherCards Collection and their serial numbersThe serial numbers of EtherCards act as differentiators between the different card collections. Shorter the serial number, better the features. There will be three cards collections available on launch day.
Original Gangster (OG) card collection having 90 cards with serial numbers 10 to 99 having the advantage that they would have three times the probability to have special traits as compared to normal cards. Alpha card collection having 900 cards with serial numbers 100 to 999 and they would have 1.5 times the probability of holding special traits as compared to Common cards. Common cards collection having 9000 cards with serial number 1000 to 9999, even though these are the ‘normal cards’, they also would have special traits, just with a lower probability than the other higher ranked cards.
The increasing popularity of NFT’s is evident in the fact that now it is widely being discussed in NBA circles and even getting coverage from top news networks like Fox and CNBC. EtherCards would be a good addition to this rapidly expanding marketplace with the product offering that benefits holders and creators/artists both.