BlockNG: LAW Token & LawPunks NFT Success on smartBCH

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Avatar for Pantera
2 years ago
Topics: SmartBCH, NFT, Defi, Bitcoin Cash, BCH, ...

SmartBCH serves as a unique and cost-effective environment for developers to build any application they envision with the use of EVM compatible smart contracts.

Far too many incredible ideas fail when implemented in Ethereum because of high fees and network congestion.

SmartBCH fixes the Ethereum issue with high fees by improving throughput and constantly offering low fees for any interaction.

There is a key element though, apps and projects are missing, not just in smartBCH, but in every smart contracts network.

Making everything easy and affordable from launch is of utmost importance.

It is crucial having most of the features ready and offer a product with full functionality. It is all about offering an outstanding user experience.

BlockNG achieved this with a smooth website and a friendly user interface, accessible and comfortable to apprehend. Users only had to connect Metamask wallet and mint a few NFTs at a cheap price, and with just two clicks enjoy vast profit potential.

BlockNG (LAW & LawPunk NFTs) an Example to Follow

BlockNG started by offering minting of the Law Punk NFTs at a low price (0.01BCH) incentivizing the collectors to mint tens or even hundreds of LawPunks.

It was the first NFT collection in smartBCH, yet it could have easily failed under a different model. It succeeded (so far) since it gave a chance to everyone to join.

The Punk NFTs success is based on these two key elements:

  • Low entry price

  • Full features, user-oriented interface and a working marketplace

After about three weeks all 10,000 Punks had been minted and trading already started at higher prices. Price immediately tripled in just a few days and today the floor price for the most common Punk NFTs is 0.7BCH.

The lowest ROI for anyone that minted a Punk is today 6900%. Collectors that bought at 0.01BCH can sell at a bottom price of 0.69BCH today, at an x69 times profit!

And this is just for the most common NFTs, those that don't contain rare features.

The price depends on various attributes and an additional statistic (hash rate) that allows staking and farming of LAW tokens.

Trading volume in total is more than $4 million.

List NFTs again without too much to wonder. Search for NFTs with desired properties in just seconds.

Source

This impressive result was not unexpected.

For early investors, the LAW token was a rare opportunity that produced an exceptional profit.

Law tokens comes with a fixed supply of 21 million and the use case of this token is applied within the BlockNG website.

LAW is used to level up the NFTs and increase hashrate that helps increase rewards when staking NFTs. These rewards are also in the form of LAW tokens.

Source

LawPunks is the model every NFT should take notice of and strive to exceed in all its features.

The token (LAW) perhaps was not required in the beginning, yet, the BlockNG team already had a plan and successfully turned it into a native DeFi token, together with a reward token for staking NFTs.

LAW started trading at smartBCH DEXs for $0.05, went down to $0.02, and now is trading above $1. (50x)

The telegram bot, was also an additional important feature since it gave collectors the real perception of NFT volumes.

BlockNG is determined to keep supporting and developing the platform.

LAW Entropy and LAW USD are the latest additions to the project offering more opportunities to increase the DeFi capabilities of the platform. 

What started as an NFT collection has now evolved into a full DeFi experience.

More information on new developments is available on the BlockNG official Medium account and these links:

In Conclusion

Law Punks is one of the gems within smartBCH.

However, this doesn't mean it is the only approach or something better can't appear. There can be adaptations of other popular NFT collections (i.e. Bored Apes), but they can only succeed if they properly offer everything correctly and not just have an approach to profit quickly with extreme valuations right from the beginning.

SmartBCH at this stage of infancy should have such examples as BlockNG to offer. So far it is the only one that succeeded for the aforementioned reasons (ease of use, low mint price).

The userbase of smartBCH keeps expanding and any project having a professional approach that offers similar or better features from Law Punks can achieve a lot.

What is certainly needed is a marketplace offering options for collectors to easily search for features, find and understand price and potential. BlockNG

Currently, there is nobody that entered Law Punk NFTs or LAW token and hasn't profited. It is not the same for a few other NFT collections, though.

The success of LAW and Punks is based on a user-oriented approach. It is an NFT collection above anything else, but one that evolved today, offering staking NFTs and providing DeFi options.

Punk related links:

Images:


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DISCLAIMER: All material published in this content, is used for entertainment and educational purposes and falls within the guidelines of fair use. No copyright infringement intended. If you are, or represent, the copyright owner of material used in this article, and have an issue with the use of said material, please send an email. No financial advice intended.

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Avatar for Pantera
2 years ago
Topics: SmartBCH, NFT, Defi, Bitcoin Cash, BCH, ...

Comments

Ethereum should improve in terms of rates or it will be very challenged by new technologies such as SmartBCH, in general rules your publication is very good and helps us understand a little more this great world of SmartBCH, thanks maigo.

$ 0.00
2 years ago

I really wanted to invest in law and law punk but I don't know about smartbch yet. I also wanted to put nfts on oasis cash but I don't know why it is loading please can you write more article about smart bch sir

$ 0.00
2 years ago

An article I wrote previously can help you: https://read.cash/@Pantera/smartbch-for-beginners-start-here-9f7ec63e

Ask me in the comments if you find difficulties

$ 0.00
2 years ago

Thanks alot Pantera

$ 0.00
2 years ago

Firstly I appreciate you for the incredible support you gave me at my article I really love it because it means alot to me . I am so happy so see the wonderful pantera at my article thanks so much sir I appreciate it . Anyway I am new with the SmartBCH but since I read that you said " there is nobody that entered law punks that hasn't profited from it " so I will definitely go to learn and invest in law punks thanks so much

$ 0.00
2 years ago

And ...

  1. It's just the begining for both SmartBCH and LAW Punks
  2. We are in the bear market so wait until the Cryptoverse starts moving upwards
  3. People out of BCH will notice the LawPunks
$ 0.10
2 years ago

New technologies are making their way, SmartBCH is not the exception and with the new markets NFTs a new world of investments is for all of us, greetings @Pantera.

$ 0.05
2 years ago

SmartBCH offers a lot more than other networks. It has a few thousands of users already and in this phase it is just beginning. Competition is low, and those that enter early reap the best rewards.

$ 0.00
2 years ago

After seeing the success of LAW Punks, I'm super bullish on the entire smartBCH NFT ecosystem.

$ 0.05
2 years ago

It gives a clear indication of what a project can achieve by having a professional approach. When there is a clear roadmap, and developments, this is easy, while there is small competition. I am expecting some really good projects to finally find they have better chances in smartBCH, rather than anywhere else.

$ 0.00
2 years ago

Law token really amazed me, imagine staring and having doubt about it at the early stage only to find out its about to hit $1, well im not going to miss out on the Law ETP, that has given me 120% already and im holding it for a longer time

$ 0.05
2 years ago

Your article on Law token is making me to regret that I haven’t tapped into it but it’s because I didn’t want to invest what I couldn’t afford to lose. I’ll try to gather to research on it and see how it works soon... Thanks on this.

$ 0.00
2 years ago

It was very low price in mint phase and still could be a buy opportunity. Bottom price can reach 1BCH easily for the most common punks. Although this is just speculation from my side that I try to avoid. But it is close to there.

$ 0.00
2 years ago

A successful project always followed by lot of intigral opportunists . BLOCKNG exactly taking advantage of this reputation of rBCH. LAW is most prestigious token which gained 4500% growth since launch in October 2021 from 0.02 to almost 1$ . SmartBCH giving everything at Eth but with lowest fee .

$ 0.01
2 years ago

That's right, I now hope that the example of BlockNG and Law Punks will be met with more and better developments by projects that find it difficult in Ethereum and other chains.

$ 0.00
2 years ago

Your article about token law is right. I happened to be studying token law all day today. Token law the price is starting to go up my friend. I only have a few. Thank you for making this article.

$ 0.05
2 years ago

It is a token I discussed for months, and made many noise.cash posts about. Basically everyone in LAW or Lawpunks enjoy today massive gains. Many don't enjoy NFTs yet, this is NFT evolved into DeFi today. I hope more will follow to a similar approach as I explained in this post.

$ 0.00
2 years ago

This is awesome, NFT evolved into DeFi.

$ 0.00
2 years ago

About a month ago, I regretted not tapping into the LAW projects early, and yesterday, I regretted dumping my coin when it was barely $0.50.

SmartBCH has brought a new form of engagement to BCH and I see both going to the next level before the end of the first quarter of 2022. I am not really an NFT believer but something happened yesterday and I am currently gathering every knowledge I can.

$ 0.05
2 years ago

There is always risk involved. In the beginning I wasn't convinced of Law Punks either, it took me about a week of research before joining.

$ 0.00
2 years ago

Glad it eventually paid off for you.

$ 0.00
2 years ago