Non-fungible tokens are renewing themselves thanks to a project that aims to work twice as hard to purge the crypto sector. However, the initiative is not without suspicion.
Free NFTs for users…
NFTs have been looking gray for a few weeks now. While their market is seeing the trading volume drop drastically, especially on an NFT marketplace like OpenSea, digital artworks no longer seem to be up to date. However, the initiatives in their honor continue to flow. However, the latter, in the form of a performance by Snoop Dogg and Eminem, failed to convince the spectators.
However, some projects have not yet said the last word. When their market collapses, the players have understood that the transformation was their only salvation. Indeed, since the crypto winter, industry priorities have shifted dramatically, favoring security over speculation. An initiative that was not followed by non-fungible tokens for whom the crisis came too late.
For the Limit Break project, the monetization model is over. The company wants to base its activity on the development of web3 games, but its first move is exclusively NFTs. Indeed, the company has just created its first collection, the works of which will be given to users for free.
…but the reward is not effortless
The model chosen by Limit Break is as follows: the free non-exchangeable tokens would be used to create a community of players. Real owners of the NFTs would have the right to resell the works as they wish over time. The latter would also result in new collections.
Speculation would thus be squeezed out of the game: instead of being able to sell their NFTs immediately, the owners would be forced to play and participate in the expansion of the project if they want them to increase in value.
With this, the founder of Limit Break hopes to counter crypto scams from both user and business sides. Developers and players alike would commit to one and the same goal: to grow the game with the opportunity to make money by reselling their NFTs. Thus, the project would focus on a reward system that would allow the most active to differentiate themselves rather than focusing on immediate gains.
At this point, Limit Break is said to have raised nearly $200 million for the execution of his project. Big names like Coinbase or even FTX, very committed to the renewal of the industry, joined the fundraiser.
The free-to-own model still raises doubts
If major crypto companies want to see the project grow, others still have some doubts about its success. Changpeng Zhao, CEO of Binance, himself questioned the importance of free-to-own NFTs.
A question posed by some internet users for whom the model would be outdated from the first sale of NFT. The free-to-own model will therefore have to demonstrate that it will not open the door to a new wave of profits generated by patient but stingy players. In this case, Limit Break would be a direct participant in the earnings he would like to fight.
All information on our website is published in good faith and for general information purposes only. Any action the reader takes based on information on our website is entirely at their own risk.