NFT is short for Non-Fungible Token, a techie way to say tokens that are unique and cannot be replaced by anything else. Quite the opposite of, you guessed it, fungible tokens like ETH.
One ETH is pretty much the same as any other ETH, but a one-of-a-kind trading card is entirely different from any other one-of-a-kind trading card. Oh yes, that is why they are called one-of-a-kind :-) An NFT can be a one-of-a-kind anything digital, from art to music to a digitally signed autograph. If it is digital and can be unique, it has the potential to become an NFT.
They can be worth anything, the most expensive NFT to date, reaching $69.3 million.
The other side of NFTs is that they enable collective ownership, where each owner owns a part of the NFT that can be traded independently. This fractionalization is at the core of Hord Champion NFTs.
Hord is a Social DeFi, where Champions monetize their trading strategy and people follow portfolios at the click of a button. So why is it creating NFTs?
Hord Champion NFTs were brought to life to create orderly onboarding on the Champions’ ETF baskets. Moreover, the NFTs create launchpad-style pre-product utility for HORD Token.
As such, Hord Champion NFTs are an integral part of Hord.App.
Even before any version of the hord.app is launched, the strong demand to join Champions hPools indicates that it will outstrip the available spots before hord.app V1 is available.
The number of followers per hPool is limited, or, more precisely, the total amount that can be invested in an hPool at creation time is tentatively limited to $2M.
This upper limit is designed to keep the pools manageable and balance their impact on the primary market.
Of course, the initial investment cap does not apply to gains in that pool. If an hPool that started with a full $2M cap then moons to, say, $200M, both champion and followers can party big time. They will not be hobbled by a pesky cap on hPool gains.
But to get there, you need to secure your spot in a Champion’s hPool, and that is where Champion NFTs come into play.
In Hord V0, before the actual Hord.App V1 is ready, Champion NFT Tickets are used to reserve a spot as a champion’s hPool follower.
It is actually quite simple.
So, as you can see, Champion NFTs cost nothing but staking time to acquire, but no-one knows how much they will be worth in the future, as each of them is unique and each Champion hPool will only be issued once.
As people flock in to secure their spot in their favorite Champion’s hPool, the amount of HORD tokens staked will push HORD Token value as it effectively removes them from circulation, even if temporarily.
People will buy HORD Token to stake them, acquire Champion NFTs and earn their hPool reservation tickets.
Aside from securing your spot in your selected champion hPool, you can resell your ticket.
If you acquired more tickets than you can use, you might very well find people willing to pay a pretty penny to access the spot they missed as they joined the game too late, and all tickets for that hPool were already issued.
Then there is the inherent value of NFTs in general:
Though they can be acquired at no actual cost other than the staking time, Champion NFTs benefit from three characteristics that make them excellent candidates for exponential value growth.
As time goes by, a market for these Champions NFT has a high chance of emerging and push their value to unknown heights.
They are not yet on the market, so be patient. Staking will go live on champions.hord.app soon.
In the meantime, check out our champions that are gradually being added to Hord’s Champions page and do your due diligence for those you are tempted to follow.
Also, make sure to follow Hord on Twitter and Telegram, so you will not miss the day NFT Staking is launched. Champion NFT Tickets are delivered on a first-come, first-serve basis, so staking options for the most popular Champions might be already fully reserved if you miss the opening date.