project screenshot
project screenshot

NFT Crowd Drop

A new way to sell NFTs where instead of doing an auction you just deposit ETH that gets put into a yield farm. Then we do a lottery for who gets the NFT with the probability in proportion to how much you stake.

NFT Crowd Drop

Created At

HackMoney 2021

Project Description

The project combines C-Tokens and the Chainlink VRF to allow people to win NFTs by depositing into a staking pool. The more you deposit and the longer you stay in the pool, the greater your odds of winning the NFT are. The depositor of the funds get an extra ticket per day they stay in the liquidity staking pool, so that they are incentivized to stay in the pool as long as possible to give yield to the artist. Especially given the fact that some NFTs cost up to 18-20 ETH, using cETH to help generate even more money for the artist is a way to enlarge gains per sale to support our creative economy.

How it's Made

The project allows staking via. ETH which then gets converted into cETH. Users would then hold a position on the pool until they decide to withdraw. Chainlink VRF is used to have a provably random protocol for selecting the winner of the NFT. All yield gained goes toward the artist.

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