Harvest Finance: NFT Profit Share!

Harvest Finance: NFT Profit Share!

By Cje95 | Chronic Illness and Crypto | 22 Sep 2021


During Harvest Finances One year anniversary celebration members in the community released a few different NFT's in conjunction with the development team. These NFT's celebrated the different partnerships and farms that Harvest was involved in and honestly looked really really cool. I was interested in purchasing one of them however due to the gas fees I quickly abandoned that idea as I figured others did. 

 

The NFT's themselves were expensive but not too crazy high as they were priced at 0.05 ETH for the most basic type. The prices did increase as the NFT rarity increased but it never approached a level that I would have called absurd. When they did this I figured it was a nice cool one-off thing to celebrate the anniversary but that turned out not the be the case!

 

Yesterday it was announced that they were doing a 50% profit share with those who had purchased and owned them on September 15 at 6 pm UTC. A truly mind-blowing thing to me was how high the profit share was. The addresses that had them were sent Ethereum and for the most common type (silver) an individual received 0.0038 ETH! As the rarity grew to gold, obsidian, and foil the amount increased to 0.03318 ETH, 0.0543 ETH, and 0.1493 ETH! These are not small amounts being given back at all and were completely unexpected!

 

Now, this leads me to wonder if this will be a reoccurring thing and the medium post does touch on this. It says that right now they do not know and they are seeing how the reaction is and if the community wants to continue you. I believe this could be something that the project could dabble more on in the future but right now I would not expect them to as they expand their farm offers. 

 

I expect when different milestones are reached that they might release NFTs and then this would be the time to pick them up for possible drops/rewards for owning them! I would love for them though to come up with some sort of program though with NFTs however I think the gas costs really eliminate the idea of Ethereum based NFT's until the price comes down some or like I said huge milestones are hit. For example $500 million in TLV would be a time that I could see them release a few more NFT's or if the FARM/iFARM token reaches some milestone or level of acknowledgment. 

 

This NFT surprise benefit though really opens up a whole new world of possibilities that has only recently seemed to have gotten attention in the world and has worked to different levels. If the crypto market stays in a super turbulent stage and getting deposits becomes more challenging I could see where they pivot to the NFT's to keep the community engaged. Plus it is not like the NFT's are bad-looking they are really well done! The community loves this project and seems to do whatever it can to boost it and this seems to be a possible step in that direction! 

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C. and shares my growing pains with y’all here! Huge sports fan, space nerd, and international news reader!


Chronic Illness and Crypto
Chronic Illness and Crypto

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