Blockchain games and NFTs on the Wax platform have made it possible for players and collectors to earn a small but steady stream of crypto income. It's clear why this is the case when looking at the top three Wax franchises. Over the past 30 days, the combined sales for R-Planet, Alien Worlds and Dark Country have exceeded $11.7 million on the Wax AtomicHub.

Table 1 - NFT Rankings by 30 Day Sales Volume - Screen cap from CryptoSlam taken June 17, 2021

However, if you are a newcomer to Wax and its exciting opportunities, there's a good chance you face a similar challenge to the one that my friends and I face on a regular basis:

Screen cap from Twitter - We are out of Wax!

Three weeks ago, I was excited to discover a new project that appears to offer an easy way to earn Wax through a passive income stream if you are just starting to learn about the Wax platform.

What is CAIT?

CAIT is a Wax-based token. If you hold CAIT, then you have partial ownership of a community-held art collection. Token owners are also entitled to a share of the returns earned by staking, flipping, betting, and long holds that are executed in the background by the CAIT team. At the moment, the team is taking advantage of the staking features available on the R-Planet game to generate revenue.

The CAIT whitepaper can be found here.

You will need a Wax Cloud Wallet to store CAIT. If you do not have one yet, you can create one here for free. The entire process only takes a few minutes.

How is CAIT minted?

For every 1 Wax created in profit by the CAIT team, 25 CAIT are generated. I'll let Micah Dewey explain the process:

All CAIT sanctioned NFT drops going forward will have this as the minimum requirement. Per WAX sold, 25 CAIT is generated. 12 CAIT goes to the original purchaser of the drop, 12 CAIT goes to the artist or creator who designed the NFT in question, and 1 CAIT will be added to the caitairdrops pool to be redistributed across the totality of wallets holding CAIT as somewhat of a mini dividend, - Micah Dewey, Director, CAIT Project

What can I do if I like CAIT?

If you are interested in acquiring CAIT, there are currently three methods:

Method 1: Exchange crypto for CAIT from the decentralized exchange Alcor Exchange

There are a few trading pairs available for CAIT, but I will show you how to do it with Wax.

Procedure:

Figure 1 - Screen cap - Alcor Exchange homepage modified by the author

1. Select Wax Mainnet from the dropdown menu

2. Click on Connect Wallet

Figure 2 - Screen cap - Alcor Exchange swap page modified by the author

3. Select Swap at the top left

4. Select CAIT as the other option of the trading pair, and enter the amount of CAIT to buy

5. Select Swap WAX to CAIT

It's as simple as that!

Method 2: Collect CAIT once every 60 minutes from the first crypto faucet on Wax

Above is a YouTube video that shows how you can claim CAIT rewards from the Wax faucet.

Method 3: Buy CAIT packs on the Wax AtomicHub pack drop

The newest packs that you can buy are here. Instructions on how to redeem CAIT tokens are within the description of the NFTs.

Figure 3 - AtomicHub screen cap - New CAIT treasure chests

How can I earn a passive income of Wax with CAIT?

One way to earn Wax passively is to provide CAIT to a liquidity pool on the Alcor Exchange. 

Using your CAIT tokens and an equivalent value of Wax, follow the simple instructions in the YouTub video below to earn liquidity pool rewards:

You will now earn airdrops of the CAIT liquidity pool rewards into your Wax wallet!

In the media today...

The CAIT team was very excited today when dappradar confirmed that CAIT is the first Wax-based DeFi dAPP! All told, this is amazing progress for a project that started in February this year!

Figure 4 - Screen cap from dappradar.com - modified by the author

GIVEAWAY!

The CAIT team has exceeded my expectations due to its explosive growth since its inception. To celebrate this 3-month milestone, the CAIT team has provided me with two CAIT Treasure Chest NFT packs that I will give away in a draw! The pair of packs will consist of one Standard edition and one Collector's edition valued at 10 Wax and 25 Wax respectively! 

Here's how to enter the draw:

1) Follow CryptoWordsmith and follow CAIT Token on Twitter

2) Like the giveaway post

3) Re-Tweet the giveaway post

4) Tag 2 real friends in the comments of the giveaway post

Must complete all 4 steps in order to qualify, and the deadline to enter is 11:59pm on Sun, June 20, 2021. Good luck to everyone!

Thanks for reading, and stay safe! If you would like to support my work, please hit like 👍 and follow me on Publish0x! 😊

#EarnFreeCrypto

#EarnPassiveIncome

Cover photo (cropped) by CAIT

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