NFT Ecosystem
Last updated
Last updated
ForthBox and our users assign value to NFTs on our platform, connecting virtual space to the real world and interacting with each other. ForthBox NFT and its derivatives can be expanded to multiple scenarios, including but not limited to NFT Minting, Feeding, Upgrading, Mining, Trading, Auction and loans. When compared to solely displaying and trading NFTs, we are building a community-driven NFT ecosystem through ForthBox issued NFT and games with our standard protocol.
In general, many NFT platforms will charge high fees for new NFT minting. However, we do not charge for NFT minting on the ForthBox platform, users only need to pay gas fees on the network.
1. Ham NFT is minted for free
2. There are 6 attributes for Ham, including Hashrate, Intelligence, Gold, Attack, Agility and Attractiveness. Apart from Hashrate, other stats are 0 for now and reserved for a game that is specifically designed for Ham
3. Stake Ham and earn $FBX, Ham will not participate in NFT mining without staking
4. Feed Ham with $USDC and $FBX to get to higher level and hashrate
The formula of the dual token feeding model is m% $USDC + n% $FBX, it is controlled by algorithm in smart contract, cost for each feeding is close to 20 USDT indefinitely.
The proportion between USDC and FBX is shown below.
5. Users can feed Ham once every 12 hours, and its hashrate will increase accordingly. There are 13 levels for Ham, it can be fed a total of 108 times to get to the max level
6. Example of mining model:
FBX total daily yield = Daily basic yield + Daily dynamic weighted yield
Daily basic yield = 100,000
Daily dynamic weighted yield = Total daily feeding amount/ FBX price + previous feeding return
FBX Individual daily yield = FBX total daily yield * personal hashrate / Total hashrates + Personal daily feeding amount/(FBX price*30)
Note: The red part is only applicable during a limited-time Ham feeding reward event, otherwise the value is 0 in general.
All $FBX used for feeding will be burned automatically.
40% of USDC used for feeding will be allocated to the Repurchase Pool and is regularly burned by smart contracts or ForthBox DAO, 10% will be allocated to Ham feeding Prize Pool.
ForthBox issued the Greek Mythology Character NFT (GMCN), and these NFTs follow the rules below:
1. Issued by our platform, not by users
2. These NFTs are built on the BNB Smart Chain (BSC), users can trade or transfer them on the ForthBox NFT marketplace
3. In terms of the levels and quantities of the GMCN NFT, there are 5000 Athena (Ordinary), 2500 Ares (Strange), 1250 Hephaestus ( Rare), 625 Hades (Epic), 312 Poseidon (Legend) and 156 Zeus (Myth)
5. GMCN NFT were prizes for those users who fed their Hams to higher level faster than others, first come first served
6. All GMCN NFTs holders are eligible for monthly dividend payout of 10% of the income generated from Ham feeding.
All the NFTs minted on ForthBox can be leased to borrowers on the market. Lenders can lease their NFTs to borrowers on an agreed price ($FBX) for a fixed period of time.
From the perspective of lenders, leasing their NFTs can optimize their values and liquidity. They can gain profits while still holding these NFTs, not necessarily selling them.
From a borrower’s perspective, instead of buying a particular NFT straightaway, they can spend less money on borrowing one and using it, for example, to play games.
It is mutually beneficial for both parties.
There are several modules in ForthBox NFT Auction, including Mystery Box, Rare NFT, Creative NFT and game equipment. All users can participate in the bidding.
ForthBox NFT market is a decentralized NFT exchange where users can trade ForthBox issued NFTs in the market. We are aiming to build a Metaverse migration channel of blockchain + content + community, creating a complete ForthBox NFT ecosystem.
FBX token is used to represent the value of NFT. We want to create a virtuous circle for the circulation for both FBX and ForthBox issued NFTs.
