Kollect, a non-fungible token (NFT) collection book in the GameFi space, plans to unveil its first private Collection Book System in the first quarter of 2022.
The decision came after Kollect’s private Collection Book System was successfully tested in the fourth quarter of 2021.
Once the product is launched, users are set to earn an annual percentage yield (APY) of approximately 240%. But there’s a catch: users must first stake Kollect NFTs into their collection book and repeatedly complete their collection to earn the high yields.
While the NFT market is often driven by short-term profit-taking investors, a small group of niche collectors, speculation, and hype, the market is still eager to see a paradigm shift nonetheless.
The NFT market is now calling for a more utility-driven ecosystem, which allows NFT projects to morph into a long-term sustainable model—allowing people to adopt GameFi and NFTs with ease.
Yield-generating NFTs
By introducing its Collection Book System, Kollect has singlehandedly managed to transform the NFT market.
The product (Collection Book System) boasts a built-in “play-to-earn” (P2E) feature, which allows users to stick their Kollect cards in different collection books to earn rewards. The feature allows flexible gaming with functions for collecting activities.
Kollect is also set to release an in-house game Launchpad.
Games launched on the Kollect platform will leverage the Collection Book System product—attracting more players to the platform. Players must then use their NFT cards (gained in the Collection Book System) to enroll in the games.
To earn even more rewards such as cryptocurrency tokens like Bitcoin and NFTs, users will grind through and play more games.
Kollect to use licensed IPs to make NFTs
By partnering with Daewon and Toei, Kollect will onboard famous household anime names to its platform—including Chou Denji Taisen Victory Five, Space Adventure Cobra, Ruler of the Land, Munchie Kings, and Power Rangers.
Kollect uses these licensed IPs to craft NFTs and produce games.
Globally recognized IPs can bolster GameFi and NFTs adoption to the public and make blockchain technology easily accessible to the masses. More IP partners are expected to be announced later in the year.
Kollect is the first IP-driven and yield-generating NFT collection book system in the “play-to-earn” (P2E) space.
To complete yield-generating collection books, users have to buy Kollect non-fungible tokens to enable them to battle with friends on-chain in the original P2E card games. Kollect aims to become a premium hub for NFTs.
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