Earning ERC 20 from non fungible tokens

[TanjaS]

What's everyones take on this? As an example games like https://f1deltatime.com/ where you can start earning from staking your non fungible tokens? Developer is also releasing their own token that will be usable in their different gaming/collectible platforms and later listed in to exchange. Some of their NFTs have sold for over 100K USD so seems interesting.

[jossiel]

That's the usual promise of these projects to their investors with what they are working with. If I'm an investor and I want to stake, I'll choose the best staking coins where I can earn a bit but a legit profit which is the normal sequence of staking.

The most popular staking coins won't promise that much profit but at least you have an assurance that they have a great economy which supports the token. Unlike with that project or token, you can't be sure how long it will exist.

[dunfida]

That's the usual promise of these projects to their investors with what they are working with. If I'm an investor and I want to stake, I'll choose the best staking coins where I can earn a bit but a legit profit which is the normal sequence of staking.

The most popular staking coins won't promise that much profit but at least you have an assurance that they have a great economy which supports the token. Unlike with that project or token, you can't be sure how long it will exist.

Nah i wont still consider out any projects nor companies that do have that staking or any sort yet it doesnt really give out something new because we know that returns wont really be that much unless if you do put up big amounts.Take for an example with DASH and other known staking coins out there,
where it isnt really that worth for you to put up.Hearing out good or positive words into those project owners arent that new yet they would make up sweet
and convincing sayings towards to public and promise up everything specially with listing to exchanges and guarantees roi or similar thing.
I would surely skip these things anytime.

[akram143]

What's everyones take on this? As an example games like https://f1deltatime.com/ where you can start earning from staking your non fungible tokens? Developer is also releasing their own token that will be usable in their different gaming/collectible platforms and later listed in to exchange. Some of their NFTs have sold for over 100K USD so seems interesting.

Staking your coins for something which doesn't have any value yet? Nah that's really a bad choice and I doubt anyone with mind will do that.Never stake your coins just hold them on your onw or just stake on wallets which is less risky.

[jossiel]

That's the usual promise of these projects to their investors with what they are working with. If I'm an investor and I want to stake, I'll choose the best staking coins where I can earn a bit but a legit profit which is the normal sequence of staking.

The most popular staking coins won't promise that much profit but at least you have an assurance that they have a great economy which supports the token. Unlike with that project or token, you can't be sure how long it will exist.

Nah i wont still consider out any projects nor companies that do have that staking or any sort yet it doesnt really give out something new because we know that returns wont really be that much unless if you do put up big amounts.Take for an example with DASH and other known staking coins out there,
where it isnt really that worth for you to put up.Hearing out good or positive words into those project owners arent that new yet they would make up sweet
and convincing sayings towards to public and promise up everything specially with listing to exchanges and guarantees roi or similar thing.
I would surely skip these things anytime.

It's ok, I'm not pushing you with those.

I'm just telling that those popular stake coins have its own economy and unlikely to fall down. Unlike these new staking coins, you don't have assurance how long it's going to be alive in the circulation.

I saw some staking coins who made sale before and looks impressive and promising but failed to deliver what they've promised.

[TanjaS]

The interesting thing here though is that you are not staking coins, but your non fungible tokens like cars. So Im thinking that while the return is moderate its still fairly easy way to make some cash and low risk(cheapest cars atm are around 15USD), initially only thing you are risking is the price of an NFT and if the game really kicks of it could grow pretty well. I've bought some NFTs before and made pretty sweet resales on them, although it really always depends on item.

Also they are soon releasing their in game ERC 20 token, if you create an account now before you get free airdrop. That token is suppose to come the in game currency for several of their platforms and be listed to exchanges too once usability is established.

[suryapro]

this is an interesting program. but can all tokens that do not have prices be used as bets at https://f1deltatime.com/ ??
if it's true, then this is certainly beneficial for users who have useless tokens in their wallets

[TanjaS]

this is an interesting program. but can all tokens that do not have prices be used as bets at https://f1deltatime.com/ ??
if it's true, then this is certainly beneficial for users who have useless tokens in their wallets

Sorry what do you mean as bets? I know that in past for some sales they have accepted s*it coins like MANA, OMG, BAT, LINK etc(I think in one of them it was over 15 different currencies), but it depends on what sale or auction or functionality. Right now they accept ETH and then they are soon releasing their own token that will work on this and their other platforms.

What I find super interesting about this program is how it creates an economy where you can actually earn and how then different platforms will be linked and so on. Makes the gameplay much more interesting when you can actually get something concrete out of it.

[Febo]

What's everyones take on this? As an example games like https://f1deltatime.com/ where you can start earning from staking your non fungible tokens? Developer is also releasing their own token that will be usable in their different gaming/collectible platforms and later listed in to exchange. Some of their NFTs have sold for over 100K USD so seems interesting.

If sole use case of this token is staking then it sounds more like a ponzi, since will collapse sooner or latter. If there is some other use case that will prove to be used a lot 10 years from now just go for it.

[TanjaS]

It's gonna be an in game currency for this and other blockchain platforms by this developer, so can use for purchasing NFTs, playing games(that can get you rewards) and so on. I think I'll give it a try since its low investment at this point.

[Coin_trader]

It's gonna be an in game currency for this and other blockchain platforms by this developer, so can use for purchasing NFTs, playing games(that can get you rewards) and so on. I think I'll give it a try since its low investment at this point.

The NFT subject above is quite cool and perfect for F1 racer enthusiast. I'm a collector of NFT like kitties and horses. I believe nowadays only few collectors are still buying NFT after cryptokitties craze was over just like ICO craze. But as you said purchasing in early stage will gonna give a huge advantage if ever this ERC721 token will gonna be in trend again. BTW that staking feature was cool since you can earn using your collection while it's atill in your wallet and not by selling it. 

[leea-1334]

I have gone the staking route before with pos but that is to mine new coins,,, I do not know if the same concept can apply to this but it seems to me any type of easy money thing usually involves some risk and calculations. And will only benefit the big whales as opposed to smaller stakers. I would say all models fail eventually,,, because speculation will ruin it.

[TanjaS]

It's gonna be an in game currency for this and other blockchain platforms by this developer, so can use for purchasing NFTs, playing games(that can get you rewards) and so on. I think I'll give it a try since its low investment at this point.

The NFT subject above is quite cool and perfect for F1 racer enthusiast. I'm a collector of NFT like kitties and horses. I believe nowadays only few collectors are still buying NFT after cryptokitties craze was over just like ICO craze. But as you said purchasing in early stage will gonna give a huge advantage if ever this ERC721 token will gonna be in trend again. BTW that staking feature was cool since you can earn using your collection while it's atill in your wallet and not by selling it. 

Yea I agree, I'm in to motor sports so finding this interesting. I also have some kitties and personally love them, but I do agree that this model doesn't work for everything. Here what I think is cool is that there is so many sides to the platform(well eventually). Since it will be about collecting, gaming and investment, so I think it will attract lot of different types of folks and some of the pics about the future game look really cool.

I have gone the staking route before with pos but that is to mine new coins,,, I do not know if the same concept can apply to this but it seems to me any type of easy money thing usually involves some risk and calculations. And will only benefit the big whales as opposed to smaller stakers. I would say all models fail eventually,,, because speculation will ruin it.

Yea I think if you dont invest a lot you can only expect mediocre returns, but I guess thats how its everywhere unless you get lucky. Whats nice in the staking is that you need like one initial investment and then can just sit and wait. Also some of these original first NFTs may gain quite good value later on as collector items.

[suryapro]

I do not really understand about this game, have you ever tried it. but when viewed from the website displayed it seems like this is something interesting in my opinion

[TanjaS]

So the actual game has not launched yet, beta is suppose to launch in June/July or so. Right now they have a time trial game. So to play you need at least car, driver and tyres but there is also other parts you can have. Each part has its own statistics and those affect how fast you drive. Different tracks also need different things, like in some you need more speed and some more grip and sometimes the weather needs to be considered too. Like you need wet tyres for rain and so on.

So you build your team and then you race it. Right now you can test how fast approximately your set goes and get some prices for that. But when the game comes you will be able to control the car so that you are affecting driving. And then of course who ever drives fastest wins, so its not enough to have a good car or parts but need to know how to drive it.

I have tried the time trial thing, its fun, quite simple of course, mostly enjoying the building the team aspect and its really beautifully designed. But the game itself will be more interesting cause you will have more affect on the outcome and later you will compete against others ones they launch the multiplayer game.

[Harlot]

Bro I can't believe that you posted the same topic/question twice in different boards, your second post from what I remembered originally was posted in the project development section and is now moved in the gaming development section. My answer is still the same and I don't think there is really money to be earned here since it sound more like a in-game currency rather than a cryptocurrency.

[TanjaS]

Bro I can't believe that you posted the same topic/question twice in different boards, your second post from what I remembered originally was posted in the project development section and is now moved in the gaming development section. My answer is still the same and I don't think there is really money to be earned here since it sound more like a in-game currency rather than a cryptocurrency.

I posted my questions at the same time as Im new here and wasn't sure what would be the best channel, not sure what's so hard to believe about that..? Also different channels may have different people and interested to hear lot of different opinions.

Where my interest lies in is not so much the currency it self, but the fact that if you can earn it and use it to buy NFTs, those can be sold for different currencies.