Dev Log #09 — CTF Farming, New Auctions, NFTL Staking, NFT Wallet
We resume the heading — Dev Log.
Now we will tell you what has happened in the past and what are our plans for the development of the project.
Continued farming
We reviewed the concept of CTF farming and decided to extend it. Of course, APY will be lower, but your tokens will work. So far it will not be possible to use them for voting, but there are plans to make a decision on the release of the xCTF token when adding CTF to the pool, which will just allow voting
New auctions on the NFTL.art website
One collection is already ready, which will appear on the site today. And 3–4 more in the process. Very soon you will be able to get acquainted with new directions and purchase your favorite works for your collection.
NFTL staking
We thought about different mechanics for NFTL for a long time and a concept of staking with a reward in the form of NFT appeared.
How will it work?
The user adds NFTL to the pool and you are awarded points depending on the share in the pool and the time you hold the tokens. The results are summed up at the end of each month. The top 3 are guaranteed to get the Legendary NFT and can randomly win the Genesis NFT. Top 10 guaranteed to get Epic NFT and random Legendary. Top 30 guarantee themselves Rare NFT and Epic randomly. Moreover, if 3–4 auctions are held per month, the winners will receive NFT from each auction. This significantly increases the value of staking and the fight for prizes. The design is almost ready and we are starting to implement it in the coming days.
Buyback NFTL
Pressure is now being put on the reserve fund and the NFTL price. But this is an opportunity to continue to develop the project and move forward. We decided that if the situation improves, we will use part of the funds to buy back NFTL to stabilize the reserve fund
SAVENFT
After visiting the Disartive exhibition, after talking with industry representatives, we decided to make a pivot. The launch of another token looks promising only within the framework of a short-term strategy, but in the long-term it already loses 2 tokens that were issued earlier. Therefore, we decided to look for business angels, venture capital funds in the development of the world’s first NFT-oriented crypto wallet. It will allow you to create NFT Smart Gallery (display NFT on various devices, including LED screens). Buy NFT by QR code using a credit card. It will enable art dealers to create galleries under their own brand and set individual conditions with the authors.
Check out the Pitch Deck here — https://savenft.tilda.ws
Maybe this solution will be built separately, no tokens will be used there, but its development as a venture project will give a big boost for the development of CyberTime and the launch of such mechanics, which in. the application does not run. If we follow this path, then part of the profit will be invested in the buyback of NFTL / CTF tokens + implementation of new functionality + marketing.
Important contacts and partnerships
Recently, we continued communication with the Jewcoin project and this may develop into a strategic partnership. We will help them with NFT auctions and they will help them with marketing. In addition, they are organizing conferences in Dubai, so we can host an exclusive auction at Dubai Expo in October. It is not yet known in what format and on what platform it will take place, but there are already all the prerequisites for this.
We also communicate with the AppWorks fund, Park asset Management. All this is not a quick process, but we can see the interest in our project + new product on the part of large players.
