On the NULS forum, communities are always seeking interesting financial ideas to scale the entire ecosystem. Today, Reaper, NULS's cofounder, published a proposal to “Earn income from NFTs.”
Summary
In this proposal, an NFT Income Platform was mentioned and it’s believed to help to provide a way for users to earn passive income through creating and holding NFTs. Anyone can create an NFT collection that supports staking, allowing holders to earn NULS income or BTC rewards. By minting an NFT, the holder gains access to an income-generating NFT, with mint fees permanently locked in a smart contract that automatically stakes these funds to generate returns for NFT holders. This platform combines NFTs with blockchain-based staking to offer a unique investment model, attracting more users to the NFT market while delivering long-term income opportunities.
Target Users
- NFT Creators: Individuals who want to issue NFT collections to earn minting fees and provide value to holders.
- Investors and Collectors: Users interested in holding NFTs that generate passive income.
- Blockchain Users: Those interested in staking-based income and looking for diversified investment opportunities.
Product Features
NFT Creation and Staking Support
- NFT Collection Creation
Any user can create an NFT collection, each linked to a specific smart contract (Contract X).
Contract X will support staking, automatically allocating mint fees as staking capital.
Each NFT collection has its own configuration settings (e.g., mint fee, max issuance limit, etc.).
- Minting Mechanism:
Users pay a specified amount of NULS (mint fee) to mint an NFT.
Each minted NFT is automatically linked to Contract X.
Mint fees are permanently locked in Contract X and cannot be withdrawn.
- Permanent Locking and Income Generation:
All NULS collected from minting fees are permanently locked in Contract X.
Contract X automatically stakes the locked NULS to generate staking income.
Income Distribution
- Income for NFT Holders:
NFT holders can claim income periodically in NULS.
The income distribution ratio and frequency can be configured within the smart contract.
Income can be calculated based on the number of NFTs held and the amount of NULS locked per NFT.
- Automatic Conversion of Income:
Supports the automatic conversion of NULS income into BTC, allowing BTC rewards to be distributed to NFT holders.
Holders can choose their preferred reward type (NULS or BTC).
- Income Claiming Method:
Holders can manually claim income on the platform.
In the future, an automatic income distribution option may be added to send rewards directly to NFT holders’ wallets.
User Interface Features
- NFT Minting Interface
The Mint page displays details about each NFT collection, including mint fee, current yield, total issuance limit, etc.
Users can mint NFTs through a straightforward process.
- Account and Income Dashboard:
Users can view their owned NFTs and associated income details in their dashboard.
Income history displays each NFT’s earnings, including NULS and BTC earnings breakdown.
- Income Claiming Interface:
Displays total available income, BTC equivalent, and allows users to select their preferred payout type.
The claiming process requires a contract signature for security.
In general, the proposal introduces a new NFT product to the NULS ecosystem where anyone can create an NFT collection, each of which has a contract X that supports the NFT staking feature. Minting the NFT will get an NFT with income. NFT holders can receive NULS as income. Income will be automatically converted into a form of BTC rewards and sent to the NFT holders.
Do you like the idea? Join the NULS forum and discuss the proposal with the community. We value your insights and feedback!
