One of the most popular features of BlockCentral, since we launched publicly on May 15th, 2023, has been the BlockCentral Viking Collection (BVC) NFTs. We admit a DeFi Fund can feel kind of boring, so the team wanted to spice things up and add some story and lore to the protocol.
NFTs are a major market in cryptocurrency, and the BlockCentral team felt there was a way we could integrate this technology into the protocol that was additive in nature. This comes in the form of holders of the BVC being able to earn passive income just by possessing an NFT.
Passive Income NFTs
Owning an NFT that promises you passive income isn’t a new innovation. We’ve seen it for a couple years now with different mining NFTs, staking, etc. However, with BlockCentral, our NFTs offer users a weekly, lifetime payout from the token supply, which philosophically represents shares of the DeFi Fund.
Within BlockCentral, there is a smart contract exclusively for NFTs. In this contract, 19.1% of the total token supply is locked. Because BlockCentral Token (BLOC) is deflationary, we will always be burning supply. As supply goes down, it requires fewer tokens to maintain the 19.1% threshold.
75,000,000 Supply x 19.1% = 14,300,000
60,000,000 Supply x 19.1% = 11,400,000 — (Difference of 2,900,000)
The excess tokens above 19.1% are paid out to the NFT holders on a weekly basis. Because token burns are automated through tax contracts, including additional tokens deposited into the NFT contract, this is how we ensure NFT holders will continue to receive weekly passive income for life.
The projected returns for holding an NFT is 40–60% APR.
Liquid Decaying Features
Illiquid NFTs are no longer desirable. Most of them die out, or holders lose interest. Due to their illiquid design, many holders feel like hostages. With BVC, that changes now. An NFT holder can redeem it for a 20% Redemption Tax if they need immediate access to their proportion of backing tokens in the contract.
As the protocol matures, burns naturally slow down, which will slow down NFT rewards. To combat this, the NFT contract will decay at a set percentage each week, releasing small additional rewards to NFT holders each week. The team has chosen and will continue to adjust this rate to optimize these rewards. It will take many years for the contract to be depleted.
Viking Clans
In an effort to expand the lore and fun associated with the NFT collection, the BlockCentral team has built out seven unique clans with their own features and characteristics within the BlockCentral Vikings. You can see them below or read more about them here.
As the protocol matures, more lore will be created to build out the world that the BVCs inhabit.
Rare God/Goddess NFTs
This collection wouldn’t be complete without a very small, rare group of NFTs that will be the belle of the ball within the BlockCentral Viking Collection. There are 10 rare NFTs, all 1-of-1 artworks with major benefits.
Not only will these NFTs benefit from the same rewards as a standard NFT, but any holder will have a special role within the community and permanent access to Asgard (a private channel for larger holders), where exclusive alpha is dropped regarding the protocol, DeFi Fund movement, and future developments.
Additionally, any God/Goddess NFTs holder will qualify for monthly airdrops of tokens between $50-$100. The amount will be randomized. This bonus will maintain the projected APR, despite the higher cost, to sustain the projected 40–60% APR. This golden group will be the pinnacle of the BlockCentral Viking Collection.
NFTs are a great way for a project like BlockCentral to reward holders, open up our brand to a new market sector, and add some character and fun to the traditional finance structure of funds. Through this variety, the team will build an eclectic and well-rounded community.
To find out more about BlockCentral:
Website: https://www.blockcentral.io/
Documentation: https://docs.blockcentral.io/blockcentral
BVC NFTs: https://tinyurl.com/4mrw368w
Social Media for BlockCentral:
Twitter: https://twitter.com/blockcentral_pa
Discord: https://discord.gg/blockcentral
Telegram: https://t.me/blockcentral
Youtube: https://www.youtube.com/@BlockCentral
LinkTree: https://linktr.ee/blockcentral
BlockCentral Inc. is a Panama-based company focused on advancing blockchain adoption and education. All information presented here is not financial advice and should be considered the starting point of your own due diligence.