NFTHive = NFTs = Honey

Right we all know NFTHive has some of the greatest asset building tools and its great for crafting and blending but did you know you can actually earn from there even if your not an artist . Yea its true you spending your WAX or any artists coins on there earns you there coin and its called honey . How does it work well I asked Ben from NFTHive some questions all about it .

Hey bro

hey!

Where did the idea for honey come from?

Honey was the obvious choice for a native token. A sweet reward for users and creators. The idea came from the community, asking us to add some kind of cash back token. The challenge was to give it a use case. So at first we sat together and thought to make it stakeable for a share of the fees on our new drop system and then later the market entire market revenue.

When was honey launched as a reward for the artists and collectors?

It has been launched in July 2022, but gained more traction after swapping to the new contract nfthivehoney in February 2023 and after capping the supply to 10M and announcing the share of 33% of the market fees with HONEY stakers

Its seems to have gotten a lot traction recently and I have it a great way of earning different coins by staking how many coins can be earned off it?

We're actually updating the contract today to only pay out WAX and instead reduce the fees on all other currencies to 0%. So creators don't have to worry about users dumping their tokens and users won't find a number of tokens to claim, but instead just HONEY and WAX. This will be announced today.

Oh really will artists still have option to still sell there NFTs in there own currency's?

Yes, and they will pay 0% in fees in custom currencies, meaning there will be no sell pressure on these tokens. Even better, they have the option to accept their own currencies, WAX, HONEY and other tokens for the same drop.

So will earning stay the same for every 100 wax spent you will still earn 1 honey?

Yes, WAX spent AND earned when you're selling through NFTHive for example, which is what a lot of people do through our Bulk Tools. You can simply list a large number of NFTs from your inventory on the market. When they sell, you receive HONEY as well.

Have you found having honey as an earn for artists and tools you provide its bringing new artists into NFTHive?

We've seen a lot of people come to NFTHive in recent months. I can't clearly say who came because of HONEY because I think it had mostly to do with the free tools that we've been developing. I know that a lot of them appreciate HONEY though!

Of course how artists do you think is creating on there now?

We're counting about 200 creators making drops on NFTHive now. About 30 are using the new crafting feature.

Oh wow that is some amount and I seen recently that your sales are catching up with Atomichub?

We have occasional good days where it's getting close. Some smart whales are choosing NFTHive to buy and sell expensive NFTs. But we're still that the average users finds their way to us as well.

How has Honey preformed against WAX?

It's been doing really well and consistently stayed above 2 WAX per 1 HONEY. This is impressive since it's a reward token that's paid for every 1 WAX in fees that users pay at NFTHive. It even reaches 3 WAX on good days when there are high market returns. I think it was a good decision to only make it available through rewards and not sell it in any way. This way the supply is still very low and increases slowly. Not sure how the price will develop, but the supply is capped at 10M and the rewards will reduced by 20% after every 1 Million HONEY that have been rewarded. We aim to increase the number of users as more HONEY becomes liquid. More users means higher returns in market fees which therefore should make staking HONEY more attractive to get in on the 33% share of those fees.

How much honey is in circulation at the moment?

147399.4534 HONEY have so far been rewarded, of which 72563.7507 HONEY are staked. Ok, I gotta drop, buy some groceries and get dinner.

Where is the best place to buy honey?

There are multiple options. You can trade the token at

https://alcor.exchange/trade/honey-nfthivehoney_wax-eosio.token

And you can simply swap at

https://swap.tacocrypto.io/swap?output=HONEY-nfthivehoney&input=WAX-eosio.token

or

https://alcor.exchange/swap?input=WAX-eosio.token&output=HONEY-nfthivehoney

Cheers ben for your time.

So guys if you use NFTHive and never claimed your honey claim it now and stake it to earn and if you never checked out there site check it out with the link below .

https://nfthive.io/