The fashion sector has been swept up in the new NFT technological trend, and many other businesses followed the same path. The unique encryption code of blockchain-generated NFTs allows for verifying and tracking their authenticity and ownership.
Let’s Go Brandon (LGB) developers completed their collection of 10,000 pictures in the middle of the night. We have no information about the artists’ identities, but, as the Banksy phenomenon teaches us, collectors are more interested in the work and less focused on the information on creators.
A few details are already available about the collection, and today’s article aims to share the information with our readers.
A Classic NFT Strategy: Motivating Holders with Rewards
Wealth distribution is one of the most tempting features of the blockchain economy. Passive income has caught the curiosity of many risk-averse investors who have traditionally avoided this turbulent sector.
Let’s Go Brandon’s artists have committed to putting their communities first. The designers propose to reward traders who hold four or more NFTs with a 10% bonus on all system transactions.
The Will to Enlarge the Project’s Community
Apart from paying people who own at least four Brandons (as specified in the dedicated section), the team will engage in community-building initiatives. For instance, if certain ultra-rare NFTs become available during special events, investors may combine their two Brandons to buy a new NFT.
Additionally, the developers want to host various digital social events through their Discord community.
It may be tempting to purchase NFTs and immediately sell them in a volatile business like the blockchain at a higher price. By compensating everyone who has NFTs, the company intends to discourage this sort of short-term speculation that might be detrimental to the project.
What Else Do We Know About the LGB NFT Collection?
At the moment, we could not find on the internet a “Let’s Go Brandon” NFT collection with as many pieces like this one (at least not in a pixeled form). While NFT technology achieved great success in 2021, not all NFT collections amassed millions of dollars.
Our article limited itself to publishing the relevant information in our hands. The actual test that the LGB initiative will need to pass is attempting to join the Olympus of the most successful NFT projects. The market will be the “referee” throughout the project’s sale phase.
For those unfamiliar with NFT sales, it’s worth noting that these rounds can be brutal to enter at times. Because artists often sell their works for a limited period, customers must move swiftly to add NFTs to their wallets.
We do not yet know the identities of all of the “Brandons” engaged in this OpenSea effort, but we should receive new details in the following weeks. We understand that the artists will not release all of the NFTs concurrently but instead space them out.
LGB and NFTs – Our Conclusions
Let us repeat ourselves: Only investors will be able to pass judgment on LGB and its NFTs. Without a doubt, it will be fascinating to see how the market reacts to introducing this new collection.
As previously stated, not all NFT collections earn a million dollars in income, but some do. Let’s Go Brandon will premiere soon with a satirical perspective on the American political establishment, and we’ll keep our readers informed of any following developments.