00:00Welcome back to Decentralized News. In today's video I just want to look at let's say three
00:05top platforms where you can generate yield using your NFTs. So I want to give a shout out to
00:13CyberKongs as one of those platforms. So CyberKongs is effectively just a collection of a thousand
00:19pixelated eight NFTs which was created in March 2021. The project quickly sort of generated a lot
00:26of buzz and it's ranked around the 20th in terms of our price flow making it one of the most
00:33valuable NFT collections in the world at the moment. Later the banana token was also added to
00:39enable Kong's NFT holders to generate yield passively. So each Genesis CyberKong is actually
00:46meant to produce 10 banana per day for the next 10 years making them a form of our passive NFT
00:53income without added complexity. So the only first 1000 Genesis Kongs will produce this yield
01:01although they can breed baby Kongs and Kong holders can also mint sober Kongs for free. Second one would
01:10be Bunikon. So this is another project it's a DeFi RPG game that uses NFTs for vesting purposes on its
01:18yield farming rewards. To distribute its BUNI token, Bunikon also follows the standard liquidity mining
01:25process where users can provide liquidity to the token pools and or state their BUNI tokens. To prevent
01:32token dumping, Bunikon has decided to actually wrap the farming rewards into NFT collectibles. These are
01:40only available after a vesting period although users can choose to trade their NFTs which are banked by the
01:46underlying asset as well. So thus that means that although the NFTs themselves do technically not
01:53generate any yield they constantly accrue value through the underlying farming rewards. So that is
01:59the one on our list Bunikon as number two. So I don't know if this is like a strategy you guys are
02:05sort of familiar with. I did first sort of cover initially one other platform charged particles which
02:12also you're able to generate yields on and using your NFTs but it's not on today's list. Today we're
02:19just looking at these three. The third one on our list is Morbox. Morbox is a community-driven game
02:24fight platform that uses NFTs to create financial incentives and to drive players towards this
02:30platform. So it's Morpho NFTs can be contained from the mystery boxes in the game or purchased on the
02:39marketplace and subsequently staked to earn Morbox tokens. So each Momo has a randomly generated hash
02:46power that can be upgraded by consuming other Morpho NFTs. The NFTs can be combined to add up sort of a
02:55hash power to increase their returns as well. So the amount of inbox tokens mined is dependent on your
03:02weighted average of the total hash power across that platform. The amount of inbox tokens released per day
03:09is also dependent on the total hash power across the platform and Momo NFTs can also be borrowed or lent
03:16to other users. So these are some of the top three platforms that you can earn yield on you know
03:24using your NFTs. So let me know if you want me to do a part two and I can cover some other platforms
03:32as well. There's quite a number of them so I might be back depending on whether you guys want me to do
03:38that. Like, share, subscribe, turn on the notification bell, leave a comment in the description and also
03:43suggest other content pieces you'd like to see on this channel. Like, share, subscribe and check out
03:49links in the description to my books, Tokenized, Trillions and Blockchain Applied. Till next time guys, peace.
Comments