Non-fungible tokens have become very popular recently. The value of daily non-fungible token trading reached 3.9 billion dollars in mid-November. Tokens that are collectible and have clear applicability, that is, which are not just meant for trading, are the most popular with users. Cypherpunks NFT is one such token.
Listed below are the top 5 valid reasons you should buy a Cypherpunk token from this collection now.
Buy Limited Edition Cypherpunk NFT
In the upcoming weeks, the company will launch three main collections, whose tokens and purposes will vary. One of the most popular collections is Cypher Punk on OpenSea, which is already active. 30 unique images of characters depicted in 3D make up the collection. A NFT’s value ranges from 1 to 7 ETH, and each token contains a unique storyline and hero.
As a serious competition to the CryptoPunks collection, the Cypherpunk NFT designers believe their collection will witness similar cultural impact and skyrocketing market capitalization. CryptoPunks have a total market cap of $1 billion and growing, with a total of 9999 NFTs in all.
Having only 30 NFTs in the Cypherpunk Collection, this collection will be much rarer, and therefore much more valuable in the future.
In order to get the most interesting and favorite hero, users should follow OpenSea’s page update each week to see which new NFT has been added to the marketplace. A token can be resold for a profit or used in Play-2-Earn.
Play a Play-2-Earn Cypherpunk NFT Game
There are 3000 tokens in Cypherpunk’s second collection, Rebels, to be used in Play-2-Earn. When the pre-sale happens on December 15, about 40% of the proceeds will go towards the game development. Every token holder is eligible to join Play-2-Earn.
In addition to earning cryptocurrency, players will be able to boost their hero’s skills by completing stages and completing missions.
“We are planning to launch our own game in the near future, and now we are considering partnerships with various companies and metaverses”, the company commented.
Gamifying Financial Indices
Additionally, the developers of Cypherpunks are working on introducing two new financial indices in the new game. As the dollar devalues in relation to itself, the “Reverse USD” index will reflect its devaluation. In this index, US financial system credit confidence is measured.
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With accurate measurements and tracking we can determine how much and when the US dollar loses value relative to itself. The US economy is valued by the trust that people have in the government. Taking figurative values, if we estimate the trust in the dollar to be 100 units, then we might estimate the trust in the dollar to be 110 units, a 10% increase in trust.
It can be concluded, however, that an advance payment of more than 100% is already forced connivance. Since 100% of the advance payment had been claimed long ago, the company explains that they give one more chance and hope for a new one.
Second, there will be an index “CexToDex” that reflects the transition from the outdated centralized financial system to the new decentralized one. This indicator shows an understandable trend and exhibits a growth rate that is proportional to mankind’s progress. In the data accompanying the “Reverse USD” index, the essence of the process is partially explained. In short, it is as if almost everything in our world is denominated in a currency that has devalued uncontrollably.
Developers propose that the release of their own stablecoin, indexed to the Reverse USD index, provides a solution to the problems arising from devaluation of the US dollar and the formation of a new economy.
The proposed stablecoin can be understood if we analyze it in more detail, as it is a token whose price is determined by the index “reverse USD”. USDR are issued when USDT are converted into USDT. A drop of 10% in USD value, for example, means that the rate would have become 1 USD to 0.9 USDR. A reverse exchange will take place at the same time, and 0.9 USDT will be exchanged for 1.
The company creates its own decentralized financial system, which is built on users’ trust in fiat currency.
Cypherpunks’ developers will be able to influence the real economy and adjust the value of digital currencies within their own financial system using this concept. By combining NFT and GameFi technology, the real and virtual world blur together to create a new financial environment.
Players who create the new Play-2-Earn games can use stablecoins and financial indices to influence the existing DeFi sector. This helps build trust in the existing financial system. Generally speaking, the GameFi industry can have a significant impact on the traditional finance market and influence the development of alternative economies worldwide.