Royal Society of Players: Changing the NFT Game
It’s no secret that I think Royal Society of Players (RSOP) is one of the best NFT projects in existence. I currently own 22 of them for a reason. It has a great founder/team, amazing utility, and fantastic art.
If you’re not familiar, it’s a series of 10,000 playing cards with varying rarity. The cards are used in Top Shot-like challenges where holders have the opportunity to win cash and prizes for having certain individual cards or poker hands. RSOP also plans to use the cards to provide networking opportunities, real world benefits (like entry to exclusive parties), metaverse opportunities, entries to poker tournaments, and more. I mean, on the day after the drop, they had a raffle and gave away a total of 11 ETH in the Discord. That’s like $33,000, just given away on day two. Bananas. Equally bananas…the things I’ve listed are just scratching the surface. If I started listing the amount of utility this article would be like 47 pages long. Check out their Discord and Announcements. It’s wild.
Now, the hand-making feature is already a crazy innovation that change the game. But with that said, they did something yesterday that I think we’ll see more and more NFT projects take on. They introduced “staking.” If you’re wondering why I put staking in quotes (any crypto/NFT person knows staking has existed for years) it’s because it’s a unique type of staking. They’re going to periodically take wallet snapshots to see if people are selling or HODLing.
I mentioned at the top that they reward you for holding certain hands – like a full house. Let’s say you have a full house with three 8’s and two 5’s. When that challenge ends, you might sell a couple of those cards and make 0.5 ETH at the current floor. However, with their new system, there will be second chance rewards. Those wallet snapshots will be taken at unknown times, at which point you could be rewarded again for keeping those cards in your hand. Essentially, it’s a stake feature without having to build a back-end staking/defi platform.
Plain and simple, this feature is a game changer. It causes less selling, reduces supply, and increases the value of cards. If they can run a challenge back one time, what’s to say they couldn’t do it again? And just think about all the other things they can do with wallet snapshot, like reward holding a certain number of cards, certain type of card, etc. Hell, they could give a reward to everyone who holds a 2 or 3 just to show the value in all cards. It makes the appeal of HODLing so much stronger.
If you haven’t checked out RSOP yet, I’d encourage you to research the project. I’m not exaggerating when I say they have a meaningful announcement almost every day, and they seem to want to really build one of the elite long-term NFT projects. I’d be shocked if we don’t see other projects copycat every feature in this one, from building/combining NFTs, to this newest staking feature. Royal Society of Players is a project I’ll continue to bet on.
Disclaimer: This article is not financial advice. The NFT and Cryptocurrency markets are very volatile. Please don’t invest what you can’t afford to lose. Always do your own research before investing.