Innovation comes in all shapes, sizes and forms at the moment, and this new release named Wolves of Wall Street (WOWS) is more ambitious than most.
WOWS is a project which brings together DeFi, NFTs (non-fungible tokens), SFTs (semi-fungible tokens), and gamification together to create a use case that is highly secure, sustainable and potentially profitable.
This DeFi/NFT project aims to expand the use of SFTs and create the most expensive and valuable short-term as well as long-term SFT.
This is done through what is called an ‘SFT-Cryptofolio’, a token that generates income whilst sitting in your wallet.
Your Cryptofolio acts as its own mini DAO for trading in Yearn and other DeFi strategies. It will start with Yearn strategies and allow the class-leading yield strategy to build profit for you without staking.
So how does the WOWS token accrue value?
There are several factors; the initial investment, its purchase price, purchased upgrades, rarity, demand, and other elements such as protocol and project rewards and individual profit-seeking. It also holds value since it is a currency in the WOWS ecosystem for tokenized assets giving it various functionalities. This means that when you’re ready to sell your Cryptofolio, all these factors will influence its selling price.
When you sell your SFT-Cryptofolio, you are essentially selling the SFT’s accumulated rewards, value and internal investments in one package. It is aimed to acquire a guarantee to sell it at least at the price of its initial investment or at the price of that including its profits since the SFT and its rarity have a second layer of value.
The WOWS tokenomics system has been designed to create an internal economic system so that buyers and sellers trade value within the ecosystem, and holders benefit from a positive refeed of rewards. The rewards are broken down into three categories: 30% Reward Pools, 40% Booster Pools, and 30% Development.
There are only 60,000 WOWS tokens minted. The rewards are spread over three years to maintain a constant APY and keep increasing in value. The reward pools are also constantly filled with earned WOWS via the 70% of accumulated fees earned within the ecosystem.
In a nutshell, these are the functionalities of a Cryptofolio:
It is a asset gaining value through rarity, artistry and allocated investment
It generates APY in the yearn protocol with Stablecoins (USDT, USDC, DAI) and you earn additional Profit with WOWS native token
It can automate Yield farming with multiple protocols when needed and avoid staking and unstaking
It can compound earnings into a booster farm
It can be used to create Software as a Service to allow artists to create their own Cryptofolios from their favourite pieces
It can be used as collateral for loans
It can be used as a portfolio for third party NFTs which can be sold as a collection
It holds fractional tokenized ownership of assets like real estate
There is certainly lots more to this project, and it goes much more in depth, so for further information we recommend reading this post which gives a rundown of even more WOWS features.
Tip: As always, we recommend you spend time doing your own research before investing in any new projects, and this is post does not constitute investment advice.
Note: WOWS kindly provided a donation towards further NFT content creation for posting this article.
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