[Denied] Sythe to enter the NFT world

Suggestions:

1 - Sythe Gold cryptocurrency
2 - Sythe Limited Edition NFTs
3 - NFT marketplace on Sythe
4 - Use cases for the Sythe Limited Edition NFTs to boost its value

I'm pretty sure 1, 2, 3 and 4 will boost Sythe's revenue and visitors to the website if played well.

 

You're going to need to explain these a little better... what would we be selling NFTs of? Why would anyone care? What demonstrated interest in this is there?

Also the amount of dev work it would take to do any of these is not going to be worth it

 

Okay. I'll try to explain and give you an example to show you how it works and why the amount of dev work it would take to do any of these is going to be worth it.

Example:

Step 1 - Define use cases for the Sythe Limited Edition NFTs, whoever owns a Sythe Limited Edition NFT will have access to:
- Exclusive events
- Exclusive giveaways
- Exclusive minirank
- Exclusive profile picture
- Exclusive rights
- Exclusive role
- Free advertisement on Sythe for specific days and times
- Increased earning of Sythe Golds
- Reduced bump timer limit
- Etc.
Step 2 - Hire or partner with a good graphic designer
Step 3 - Mint the Sythe Limited Edition NFTs and offer them for sale on Opensea. (1-10000 Sythe Limited Edition NFTs for 1-0.01 ETH each)

What now? Whoever owns a Sythe Limited Edition NFT will have access to the following use cases on step 1, which will make the Sythe Limited Edition NFTs very valueable in the short and long run. Collectors that missed the sale, will be able to buy from the other collectors on Opensea and other marketplaces (hopefully on Sythe). Not only will Sythe make revenue from the sale but also from the trades after the sale. Sythe will get a percentage of the sale everytime someone sells or buys the Sythe Limited Edition NFTs. The website will also get new visitors thanks to the listing of its NFTs on marketplaces like Opensea, etc.

I also suggest Sythe to create his own cryptocurrency: Sythe Golds. It already exists as a currency on Sythe with use cases, just turn it into cryptocurrency. BEP20 token on Binance Smart Chain, it's not hard to create, I created 1 myself a couple months ago. Why should sythe have his own cryptocurrency? Because people will be able to follow the transactions easier on the blockchain, make the transactions easier, increase the value of the Sythe Golds and bring new visitors to the website thanks to its listing on coinmarketcap, listing on the exchanges, etc. NFTs could also be linked with Sythe Golds, example: buy NFTs with Sythe Golds. Overall it will boost Sythe's revenue.

Hopefully I was clear with the explanation, thank you for reading.

 

I like your vision and explanation of all of this but I think this is a bit of a stretch and is something that will never be implemented.

 

This. I'm all about well thought out suggestions that OP clearly put critical thought into. I actually also really like this idea and would love to see it become a reality. Unfortunately, I just don't ever see the powers that be spending the time to implement this. It would require a tremendous amount of time and I'm not sure that the potential benefits justify all that work.

 

Very niche market. Perhaps if it becomes bigger and not a meme but right now, nah.

 

Collectors will buy them and hope that the value of them goes up one day, for the same reason why someone would purchase miniranks. (Read my first reply on this thread, I explained a little more there)

Crypto and NFT have similarities but they are different, 2 different markets.

 

Why would anyone buy an NFT period tbh…

But, it would be a cool idea for a raffle perhaps or maybe an auction if the site needed to raise money. But I don’t support this suggestion solely based on that.

 

no support, seems like a waste of staff time, sythe gold acts as its own currency already, and like others mentioned who would buy an nft other then users here to just flex

 

People will buy and hold it if use cases are implemented to the NFT. Would you not want to own an NFT that's limited in supply and give you access to exclusive events, exclusive giveaways, exclusive minirank, exclusive profile picture, exclusive role, increased earning of Sythe Golds, reduced bump timer limit, ...?

 

Honestly? No.

Scarcity doesn't imply value. Also, to the points you mentioned: Sythe has the CDT for public events (and exclusive events sound lonely); we don't do giveaways; miniranks function just fine without NFTs; exclusive profile pics and roles are donor perks that aren't being changed; Sythe Gold is worth a fraction of a cent per post so not worth your time farming; bump timer limits aren't going to change for this either. Basically your idea isn't bad or anything; it just doesn't work for Sythe.

 

Very Very Niche ;p

I support it if the NFT's are functional on an ERC-20 so we can use them elsewhere later.

However as mentioned above the amount of work that goes in to creating it for site specific isnt worth it. If you want to make your own NFT's you can do so easily there are many tools online and all you have to do is pay the gas fee which is retard level atm since the new burn mech with ETH ;(

Yellow Hat

 

This is going to consist of a lot more brain power, work, software and technical support that a primarily 2007 renaissance forum can provide.
This is not the place, unless you merely want a sub section under Cryptocurrency, Finance, & Gambling Discussion
Where you can advertise your opensea, rarible, or whatever platform you use to advert your NFT's

 

Good luck with selling. Sythe has always had plenty of ads anyway.

 

Scope and technical cost of this is way too huge for a quirky forum feature

 

It actually really isn't with Stardust (http://stardust.gg/) @Superfluous as well since you mentioned the technical overhead.

@Sythe if you have interest in building this out as a feature hmu on discord.

Overall I'd support this suggestion, it'd kinda be "hypee" at the end of the day but whatever gets the people going. @aquahours had some decent ideas up above I guess.

 

Btw another thing Stardust has is uniswap integration ( soon :tm: ) so that people could trade sythe gold into Eth and directly out again... would be a decent revenue stream at enough volume for @Sythe - but I'd guess he's probably more concerned about microchips in the vaccine

 

@John Devola
Interesting, fair enough. I think this suggestion is dumb, but Stardust looks like of cool. Learn something new every day!