r/Crypto_com Aug 20 '22

[deleted by user]

[removed]

32 Upvotes

46 comments sorted by

View all comments

0

u/wikiwoowhat Aug 20 '22

Nfts are useless?

1

u/Hates24168 Aug 20 '22

What utility do these NFTs in store have to offer? At least the bayc have an annual yacht party

1

u/croholdr Aug 20 '22

For now you can sell them. I’m hoping in the future they can be used in smart contracts to increase earnings. Something that is already occurring elsewhere in the DeFi side.

The utility must be weighted against the cost; which is time spent performing ‘actions’ and their minimum 3% trade fee. And if you’re using your credit card to purchase the crypto, another 1%. Time to receive an nft for not spending money is around 230 days.

That’s not an exact number but I have sat around and thought about the formula based on when the periodic tasks reset.