The Yoseo NFT Pawn Shop, Metaverse’s first NFT Pawn Shop, will open its doors pretty soon! The project is certainly one of its kind with an aim to reward its community and also entertain them through its virtual Pawn Shop locations across Decentraland and The Sandbox.
As per its official site, the project will release two types of NFTs to reward owners on a monthly basis.
- Both the Gold and Silver NFT categories will offer holders the opportunity to make a passive income through their ownership.
- The project will also give extra rewards to those who buy multiple Yoseo Pawn Shop NFTs.
The first type of NFT is the Gold Collection consisting of 1,000 NFTs created from over 200 characteristics. 10% of Pawn Shop’s monthly gain will be distributed between the NFT holders.
The second type is the Silver Collection, consisting of 10,000 NFTs created from over 500 traits. 50% of the project’s monthly gains will be splitted between the collection’s 10,000 NFTs.
Thus, both the categories of NFTs offer holders the opportunity to make a passive income through their ownership.
The remaining 40% of the profit allocation will be granted to devs (10%), marketing and exposure schemes (10%), and increasing the lending pool (20%). To optimise both the success of the developing projects and the income generated for the community, these proportions are adjustable (depending on the increase in profit). This will help investments in future metaverse expansions and also increase the lending pool.
The project will also give extra rewards to those who buy multiple Yoseo Pawn Shop NFTs. Those holding 5 Gold Collection NFTs and 5 Silver Collection NFTs will have added perks like inclusion in the project’s decision making team, as well as its whitelist.
The Collection Drops
The minting for Gold Collection NFTs is already live, and has digital assets costing 0.1 ETH.
On April 12th, the mint for Silver Collection NFTs will be launched but only 9,500 will be on sale. Out of this, 500 will be reserved for those with pre-sale access, as well as for various giveaways.
The blog suggests that currently, the project intends to buy ten 1 x 1 LANDs for Pawn Shops and Portals in Decentraland, and ten 1 x 1 LANDs for Pawn Shops and Portals in The Sandbox.
Speaking of the next stage of the roadmap, which spans from April to September 2022, it will see the digital construction of the Pawn Shops in Decentraland and The Sandbox. The creation of a Pawn Shop website, as an alternative to the Decentraland and The Sandbox locations is also expected.
Along with this, the project also intends to purchase one LAND plot in Infinity Void, and also develop and expand its plots of virtual land every month to multiply the income of the holders every month.
This comes right after famous brands such as KFC, Pizza Hut and Taco Bell have filed NFT trademarks to enter into the metaverse. Owned by Yum! Brands, these giant food chains are looking to set a foot in the virtual world.