NFT ideas brainstorm

Bao plans to use NFTs to help reward users of our products. The NFTs can have functionality like discounts or bonus rewards - or anything else creative you can think of.

Lets use this thread to brainstorm ideas!

I don’t expect the maintainer galaxy to give much indication over if or when any of the suggestions will be implemented so we can use them as surprise rewards if desired - rewarding users who were loyal without extra incentives.

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6 Likes

I’ll start

a “diamond hands” NFT that rewards users who provide constant liquidity during the first few weeks of launch to one of the native token pools (like PNDA, BAMBOO, RHINO for the panda franchise)

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Could be implemented by saying someone who never withdrawn ?
If someone changed pools, would it apply ?

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In fact any future franchise too, early adopters are the once who are in for a long term

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I think it would be cool to have unique pools with higher rewards that are only accessible to proactive community members that have achieved certain milestones. They would earn an NFT for certain milestones and these NFT’s would be required to enter these unique higher reward pools.

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Im involved with a few of the newer NFT projects. I believe a set of NFTs released each with uniqueness. a unique bao avatar. that bao will represent you in the crypto community. much like the punks or apes have done or unipixie on xdai. each with special rare characteristics. if you already have reached a milestone… say farmed or whatever milestone youd get airdropped one bao NFT. there should be a number of unique baos minted too. maybe you can only mint via Bao.cx input just a thought there. I love this community and id love to see little unique baos all over. i have talked to a few artists about this type of project it really fits here. and obvs each NFT could be staked and so many other features that owning one. i have more ideas on this exact concept if anything gains traction.

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instead of each unique one there are tiers and you will recieved the NFT based on your tier of accomplishments.

would be nice to then add liquidity via NFTs for farming or synthetic collateral

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I’m thinking we can finally give that referral system some use by attaching an NFT Badge to it as a reward for X amount of referral points. Maybe this one can be tied to special access to try new features before the general public?

maybe during the limited minting period all used bao.cx used to mint are burned in minting. thus making the airdrop nft more valuable. (X) million bao.cx = 1 NFT during mint period or (X) million bao.cx gets you to (X) tier

I don’t really think this is fair system unfortunately, because small time players will feel left out and therefore the felling of inclusivity is lost.

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I think this is a really nice proposal. I think maybe the next question would be “how do you gauge, or decide what meaningful proactivity actually is?” Some of @CryptoMoonBoots proposals could work with this. You just want to make sure that a user who benefits from this doesn’t ‘earn their way into’ some kind of governance position within the community. I don’t think that would be very democratic ;)

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Yes for sure. There are many concerns about such a model that should be considered and discussed. I agree, if not considered/structured properly you run the risk of creating a rigged system of BAO whales that can further manipulate things in their favour. The idea is to encourage long term engagement in the community/project rather than attracting a bunch of moon boys looking for a quick flip. I’m no expert in governance and economics, I don’t know exactly how it should be structured, just making a suggestion, planting a seed. But I would say the best approach would be to reward the NFT’s for certain behaviour that everyone is capable of (as inclusive as possible) and don’t have it tied to value of holdings etc etc.

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i completely agree with the fair release. i dont know if the NFT should play a roll in governance. structure and fairness should be top priority. loyal users to be rewarded proportionally was in the original post. i def dont want the quick flip situation on this but users will want to trade/buy someones elses NFT that cant be avoided. i wish i had enough tech to know what was possible but ive always just been the idea/artistic guy

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lol me too… I’m not the technical type. I think there could be NFT’s that are tradable/collectible and some that are like badges of achievement that could unlock certain perks.

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Could the NFT be something of the old chinese currency? but instead it would be a rice farm or tall blades of grass in the foreground. with the Bao symbol in the front. Also because that this would be for the early investors it would have a more gold plated boarders symbolizing its status. Fun bonus is with the BAO looking off into the distance on the right side hazed into the background.

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for me it should be a any period of continuous liquidity in one of those pools. say 3 weeks out of the first 4 or something.

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I agree with your sentiment - we don’t want to price people out and I personally would push for NFTs that are inclusive to everyone, at least for the vast majority.

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I will say, I really like your idea to for this as gamifying the farming aspect in BAO.

What about create a type of NFT that entitles holders have advantage/privilege on governance power / minting synthetic assets? (let’s say NFT of other Dim Sum)

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That’s a cool idea you almost have to have exclusion to build a brand a little. Meaning you have to almost make people feel like they can’t get in for them to. Lol it sounds a bit weird I know, but just offering incentives will only get us so far. If we stack the hierarchy in a way that almost makes it difficult to climb, the more people will want to climb it. People always want what they can’t have more then what they do. ;)

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