B.A.P. TokenomicsOct 13, 2022
Tokenomics and Little-Known Strategies for Minting Free NFTs
When you combine economics and an NFT crypto token, you get tokenomics. If you’re following what’s happening in the NFT space, you know that tokenomics is the backbone of any project. The tokenomics help to build and sustain a robust economic ecosystem. A strong tokenomics plan is fun, engages the community, and ultimately increases the value of your NFTs. Each NFT project develops its own unique tokenomics and gamification, so you’ll want to understand the processes and get involved. The Bulls and Apes Project team has carefully crafted their tokenomics and gamification to enhance their community and strengthen their project.
The Bulls and Apes Project is built on the Ethereum blockchain and therefore uses an ERC20 token they call Methane or METH tokens. These tokens accumulate as part of the gameplay, which we’ll dive into later. Holders use their accumulated tokens to mint new NFTs or the tools you need to mint rare NFTs. The NFTs you collect throughout this process help the value of your collections increase. The project has plans to expand the token use in the Metaverse and merchandising is currently in the works.
Making things even more interesting, the Bulls and Apes Project founders built-in fun and exciting gamification to enhance the NFT ownership experience. Gamification is an entertaining way to engage with your NFT project and a means to add to your valuable collection of NFTs. The Bulls and Apes Project gamification continues to evolve, adding new ways for holders to collect METH tokens for holding their Bulls and mint new NFTs with their accumulated tokens. They’ve even incorporated lore into their project to explain the characteristics of your NFTs and their gamification. You should watch the story on their website to better understand the background and the reason for the guild assignments.
Holders begin playing when they own a Bull. These Bulls begin accumulating METH tokens which holders can use to mint Incubators, Teen Bulls, Merger Orbs, and finally, the very rare and desirable God Bulls. With each new NFT mint, you’ll see different traits appear. A great feature is that you’ll be earning the tokens you use to mint new NFTs at no cost. The gamification continues to evolve to include more ways to accumulate METH tokens, so you’ll want to stay informed of the enhancements. You can learn more about this process by visiting bullsandapesproject.com/get-started.
The gamification is fun and draws you in, but the Bulls and Apes Project team wants to keep their holders engaged in their tokenomics. Each Tuesday, holders are invited to join the Twitter Space for “Tankenomics” with TankMan, Gary, and HERCrypto, Tess. Each week, the space hosts and holders exchange ideas about how to maximize their METH tokens. Holders also often are the first to hear of new features involving tokenomics during this show. There is also an open forum on the project Discord for moderators and holders to discuss strategy. Holders are encouraged to play the game and maximize their METH to acquire and sell NFTs at their own pace.
Savvy NFT collectors understand that tokenomics can be the driving force of a successful project. Bulls and Apes Project team members have created a fun and engaging tokenomics ecosystem for their holders - one that will ultimately increase the value of their NFTs.
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