The Night Life Crypto Economic Value Program (EVP) for NFTs
Night Life Crypto is proud to roll out the world’s first NFT Economic Value Program (EVP). Our goal is to ensure that our NFTs are accessible to as many people as possible while allowing our community to see what they are about to buy (versus the mystery box method). We also strongly believe that the rarity of each NFT set should increase over time. Therefore, We have created a program that burns NFTs over time, while increasing the price of the remaining NFTs for sale.
As seen in the chart, the total supply of each NFT series gets reduced by 20% every week. For example the supply will be reduced from 3,000 to 2,400 after week 1, 2,400 to 1,920 after week 2 and so forth until the amount of NFTs available for sale by NLIFE in that series reaches 0. The price of every unsold NFT in that series will also be increased by 20% with every weekly supply reduction. For instance, if the price of an NFT starts at 0.1 Eth, it will increase to 0.12 Eth after week 1, 0.144 Eth after week 2, and so forth. The amount of NFTs burnt does not change based on the amount sold, unless there are less available than the amount that needs to be burnt, in which case the remaining NFTs are burnt.
NOTE: This model applies to each series individually, and does not include special edition NFTs, which have an availability of 1 NFT per 1,000 series NFTs created.
Example Scenario
A series of 3 different NFTs are minted, (A, B and C) with a supply of 3,000 each. To keep things simple, all of the NFTs are bought on day 1 and no more will ever be purchased. The following amounts have been sold:
- 800 of NFT A
- 200 of NFT B
- 200 of NFT C
Each week, 20% of the current supply for each NFT is burnt.
- Week 1, 600 of each NFT is burnt, reducing the current supply for each NFT to 2,600.
- Week 2, 480 of each NFT is burnt, reducing the current supply for each NFT to 1,920.
- After week 5, 2,018 of each NFT have been burnt, reducing the current supply of each NFT to 982.
- On the burn day for week 6, Only 182 of each NFT will be burned, reducing the supply of each NFT to 800.
In conclusion, we believe that this will enhance the value of our NFTs for both players and investors alike, as well as making it worthwhile for both groups to be involved early on. Let us know your thoughts in the comments below!
You can purchase our NFTs for Night Life Drifting Here: https://opensea.io/collection/night-life-drifting
Website
Night Life Crypto Website: https://nightlifecrypto.com
Night Life Drifting Website: https://nightlifedrifting.com
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