Battle (NFTs)

Intrinsic value, high-stakes combat, and death.

The Early Days of NFTs

Early on, Non-fungibles were seen as a fad that would come and go because of all the 'hype' building around the cryptocurrency space. Time has proven this is not the case. We're not seeing hype but rather, the adoption curve for one of the world's most revolutionary inventions.

Bitcoin was the first currency to ever allow its users to hold complete control over their money all while being able to send and receive payments anywhere in the world without censorship. Politicians and Big Banks who've acted as overlords for the world's crooked financial system have abused their monopoly over money. They've printed billions for their friends while crushing the purchasing power of those who sit outside their oligarchy.

Cryptocurrency enables us to free ourselves from this corrupt monopoly, it allows us to protect our wealth and manage it as we see fit. NFTs on the other hand will play a very different role in the coming decades. Through NFTs, we'll be able to digitalize physical assets such as concert tickets, paintings, and much more.

Once an asset frees itself from physical constraints, it becomes enabled by the blockchain's power. We'll be able to integrate the NFTs into auction houses dApps, video games, etc. There is no limit to what can be achieved in this new financial system.

A painting's price is limited by the number of interested buyers within the physical vicinity to bid on the painting. On the other hand, a painting minted by an artist on-chain does not suffer from this constraint. Rather than participating in a bid amongst those who can physically acquire the painting, the NFT becomes available to the world, and thus the market for buyers is much bigger.

The Future

Many may be wondering, how will NFTs thrive if they are infinite in nature compared to their physical counterparts? Well, that's very simple. In the art world, the market is mainly focused on original art pieces. Their worth is determined based on their rarity and the artist who created the piece.

In the cryptocurrency space, NFTs operate in a similar fashion. Collections with a small number of tokens such as Crypto Punks thrive because there are millions of collectors trying to get their hands on a limited supply of Punks. This scarcity works, but with new collections coming out every day, investors can still be diluted.

At BooFinance's we've identified an urgent need for NFTs where users can't be diluted. Unlike 99.99% of NFT collections on the market, our NFTs will actually decrease in supply the more they're used. They will also hold intrinsic value, derived from tokens locked inside of each NFT.

How can BooFi's NFTs become more scarce?

We're implementing a revolutionary combat mechanism that provides BooFi NFTs with their own stats. Rather than solely focusing on the visual aesthetics of the tokens, collectors will have to pay close attention to each NFTs attributes as these will be used to battle each other.

Lose, and your NFT may be destroyed forever. Win, and reap your opponent's souls. Finito. The NFT that loses calls its own selfDestruct() function and vanishes itself from the blockchain as if it had never existed.

How can NFTs acquire an intrinsic floor value?

Aside from providing Ghosts with amazing utility, our NFTs will possess tokens within them. This means that when they're created, our NFTs will be imbued with BOOFI and other tokens. This way, aside from the value they derive within BooFinance and the NFT market, the NFTs will have intrinsic value. If killed, some tokens are released and harvested by the victor of the fight.