Yesterday in an eagerly anticipated release from KOGs, the first round of staking rewards for 1st and 2nd Edition collectors was announced and detailed. It did not disappoint. In fact, it exceeded my wildest expectations, and now I'm FOMOing hard even though I already have thousands of KOGs in my collection. Read on to learn more.
A lot is happening in the world of Red Fox Labs, and while I am most excited by KOGs (the NFT play-to-earn project of RFOX Games), I can't help but notice the sheer magnitude of this company's plans to rock the markets of multiple world industries. As anyone who reads this blog knows, I love all things non-fungible and digital collectibles, not only because of the money that can be made, but because of the great shift that they represent for the world.
Control has been taken from us in many aspects of our lives and handed over to massive (and often heartless) corporate interests. The companies that I work with and the projects that I believe in mean to give ownership, control, and wealth back to the people who truly deserve it. They go by many names: Users, players, customers, clients... they all deserve more for their attention, faith and loyalty than what they are being given in recent years. Companies like RFOX Games intend to give it to them, and they are already delivering. Many of the details take some explaining and understanding, and that is why I'm here. So let's dive into the latest utility and value given to the collectibles we love known as KOGs.
Passive Income - The Holy Grail for Entrepreneurs
The most effective entrepreneurs always say it. You shouldn't work for your money as much as your money should work for you. This has never meant that you should be lazy in your endeavors. On the contrary, the people who preach this message tend to be some of the hardest workers you'll ever come across. If they are to a point in their lives at which they're not working hard, they have simply found a level of passive income from which all the money they require to be happy and free can be made. This is a beautiful thing. With money out of the way, I would have more time to create things that I envision, support things I care about, and help those I love. For most of my life this has been one of my most important goals, and I have never lost track of my progress toward it. In fact, I am now closer than ever (but still a long way away).
Crypto for Passive Income
There are many ways in the crypto world to achieve a passive income, but most of them go by the name of staking. Another word from the more traditional world of finance is vesting. These words form the foundation of my experience in the blockchain space. I first began on the STEEM blockchain, which allows users to earn varying rewards for curating and creating content based on how much STEEM Power (vested STEEM) they hold. A portion of these rewards are earned as liquid cryptocurrency, and a portion are rewarded as already powered up STEEM Power. This allowed me to continually grow my staked STEEM by consistently creating content and building my following on the Steemit platform.
Many blockchains and crypto projects have some form of staking rewards, and if they do not, chances are that they will develop one (or more) in the coming months and years. In Splinterlands (built on the HIVE blockchain), simply owning Splinterlands cards is a form of staking that allows you to earn greater rewards for playing the game. Therefore, playing my Splinterlands Daily Quest and competing for Season rewards (distributed every 16 days) has become one of my strongest forms of passive income. Some days I earn more than others, but the important thing is that I'm there every day, making the most of my staking rewards.
Other companies offer promises of passive income for holding and operating nodes. When you run a node with Gala Games for example, you are contributing computing resources from your own PC to the decentralized player-owned network of Gala. Not only do node holders earn GALA regularly and consistently for simply running their node, but they are entitled to exclusive airdrops and constant examples of added value. This makes the $2000+ commitment of purchasing a Gala node an extremely reasonable consideration. I know I want one.
For the remainder of this article, I will discuss the first consistent passive income opportunity I have been given by KOGs and RFOX Games. It is a new form of staking that is very much my style, especially since I've been hardcore collecting KOGs since back in August when the 1st Edition was released. By completing sets and committing to holding them for 90-day periods, I will earn regular rewards in the form of RFOX, the native token of Red Fox Labs.
Let's get into the details.
Collecting and Staking KOGs
Like most of my writing, even my most detailed portions are speculative and anecdotal. I mean to put these ideas into terms that you, the dedicated crypto knowledge seeker can understand. I will always link to the original material from the horse's mouth as well, so please do not expect me to provide all details or assume that my article is enough to inform your financial decisions. It's not. This is a blog, and just one of the pieces of information that can count as research toward making complex choices about your financial future.
HERE IS THE POST from the KOGS website that outlines the details of the plan.
It's all about Completed Sets.
In this first round of staking utility, the collector's goal is simply to complete as many sets as possible. The thing that I have always loved most about KOGs is that there is such depth to the collections. This means that there are sets galore, sets for every budget, sets within sets. There are so many sets in fact that no collector could ever hope to complete them all. Here are a few examples of the different aspects by which KOGs are divided...
Edition - This is the simplest of all. So far there have been 2: 1st Edition and 2nd Edition.
Type - There are also different types of KOGs that you can collect. Basically they are divided into KOGs (which you slam) and Slammers (which slam your KOGs). Each Slammer Game requires 1 Slammer and 40 KOGs to play.
Collection - Collections are themed sets of artwork that exist within both Editions. Examples are the 8-Bit collection and the Staff collection from 1st Edition, or the Memes collection and the Elements collection from the 2nd Edition.
Border Type - Border type is the pattern around the KOGs border. The actual images on the KOGs can only be regular or foil, but collecting specific border types get much trickier. You have to know what you're looking for, which makes KOGs collecting a skill of its own for which you deserve to be rewarded.
Border Color - There are a total of 42 different border color patterns that are also thrown into the mix. Some of them are only available on certain levels of rarity. Altogether, they push the different KOGs possibilities into the stratosphere.
Rarity - This collector's aspect is rather simple: KOGs come in four distinct rarity levels. These are Common, Uncommon, Rare and Ultra Rare.
Mint Number - Because of the huge numbers of variants given the above aspects, tons of mint 1 KOGs and Slammers exist. Many are 1 of 1, even more are 1 of 2, and some are so scarce that they will never even be flipped from a Collector's pack.
Foil - Let's finish here with a very simple one. KOGs can be regular or foil. In case you couldn't guess, foil ones are shiny and rarer than regular.
The resourceful geniuses over at WAXPLORER have created a very handy tool for helping collectors complete their sets. It goes through each possible set one by one, highlighting the KOGs that you have while also showing you which ones you need to collect.
By having Waxplorer in one tab and Atomic Hub in another, you are able to quickly seek out and purchase the KOGs you need to complete your sets. But be careful. Sometimes there is what I refer to as a KOGblock. A single overpriced KOG can often prevent you from ever completing a set, so make sure you check for KOGblocks before you begin assembling a new set.
While purchasing and cracking Starter Packs may not be the best option for most collectors when prices have increased several weeks after the initial 3 hour sale, purchasing individual KOGs from the secondary market is still packed with value, especially if you know where to look.
Which Sets to Collect?
This is entirely up to you, and I will not pretend that it's an easy decision to make. I wish you luck in deciding, and I will attempt to explain the differences in language that you'll understand.
The highest valued sets are without a doubt the Super Sets. A completed Super Set means that you have collected every Ultra Rare KOG and Slammer of a certain specific border. In the 1st Edition, a Super Set consisted of 12 KOGS and Slammers total. Ten of these were the Ultra Rare KOGs of the 1st Edition, and 2 were the jagged edge Ultra Rare Slammers, which have become incredibly difficult to get your hands on as we've ventured into 2nd Edition territory.
Below you'll see that I have 2 completed Super Sets of 1st Edition KOGs, in addition to a completed Rainbow Set of the Bullish Chart KOG. These three UR sets from 1st Edition are quickly becoming some of my most prized possessions, and now I am learning about how I will be able to turn them into passive income.
In the 2nd Edition, a Super Set consists of even more KOGs. There are 20 total pieces needed to complete one, including 3 jagged Slammers instead of 2.
I have yet to assemble any 2nd Edition Super Sets and I'm unsure if I will. My 1st Edition collection is much stronger, because I had more time to dedicate to crafting it.
Obviously, not everyone can go out and collect Ultra Rare Super Sets. In most cases I would not even recommend trying. If you have a pile of expendable money and you fully understand the risks, you should go for it and I'm almost certain that it will pay off for you in the long run. But if you are new, there are much more affordable ways in, and through them you can still earn some impressive staking rewards.
My favorite, and in my experience the easiest to collect are the Uncommon Rainbows. Below you'll see just a few of my completed Uncommon Rainbow sets. Notice how few KOGs are required (15) to complete these sets, and remember that all of them are Uncommon, so you'll never have to break the bank to purchase them. In most cases, you can check the markets regularly and with patience, only picking them up when they are cheap. Sometimes you'll have to pay a bit more for one specific color and border, but thanks to the staking rewards for completed sets, it will be well worth the leap of faith to do so.
SETS THAT PAY
The following completed sets of KOGs will all be eligible for earning the staking rewards that I described earlier in this article. There are a lot of options, and pretty much any collection of any budget can be crafted to include at least a few of these. That means that with a little time, energy and money, anyone can have a shot at a passive income with KOGs, and this is only the beginning.
Super Sets - This means you have collected 1 of each KOG/Slammer of a specific border. Super Sets exist on a per-rarity basis. This means that you can collect an Ultra Rare Super Set, but you can also collect a Rare Super Set, an Uncommon Super Set or even a Common Super Set. Additionally, each Super Set can be collected in Foil or non-Foil.
Rainbow Sets - This means that you have collected every border of a certain specific KOG or Slammer.
Below are detailed charts pulled from the original announcement article from KOGs.
The number in the far right column of each entry is the specific amount of RFOX that will be rewarded to collectors who have staked that set.
How Staking Works
The staking plan for KOGs collectors is quite simple (unlike collecting them). Basically, if you stake and hold a completed set for a consecutive 90 day period, you will receive the corresponding RFOX reward for that set.
No Unstaking Period - Many times in the world of staking, there is a period of time during which your asset will not be available to you. This is NOT the case with KOGs staking. You will always have the option to immediately pull your staked KOGs and sell them with no waiting period. This will come in handy if you have an Ultra Rare Super Set staked, but you'd also be willing to sell it to anyone who wants to pay you $5000. With this staking mechanism, the solution is clear and simple. You may be interrupting the 90 day staking period and losing your potential 1200 RFOX staking reward, but you will be able to quickly and easily sell your assets instead of waiting for a period of unstaking to complete.
The above roadmap is still in play. It was ambitious from the outset, but they have pretty much nailed it.
I encourage you to read the ANNOUNCEMENT POST from KOGs to get all the details about the staking program from the source.
Why is This Important?
In addition to its ability to earn me and other collectors of 1st and 2nd Edition KOGs a handsome passive income, this program should accomplish a great many things for KOGs and RFOX as they continue to grow. Early collectors have always known that their collections would earn them money in multiple ways, but now that one of the first examples of this is quantified with concrete examples, they are going wild.
I believe that lots of new collectors will jump on the KOGs wagon in an attempt to complete sets for staking, which is why I'm sharing this information with you so thoroughly. This is a very real (and comparatively easy to understand) way of earning staking rewards. Complete sets. Earn rewards. And it's only the beginning.
RFOX (the token) is the token of Red Fox Labs, and has a future that is even brighter and larger than either RFOX Games or KOGs. They are a venture-building company, and as they find greater success in their earliest ventures, they will build new ventures, reach wider audiences and make even more connections. All this future activity will give the RFOX token new layers of utility (and hopefully value). Remember that these rewards for staking KOGs are set in RFOX, so the success of every KOGs collector in finding value in these rewards is tied intrinsically to the greater success of Red Fox as a parent company.
The second huge venture of Red Fox Labs was just announced 2 days ago, and while it has gone relatively unnoticed by the world of KOGs collectors, it will be a game-changer (and perhaps a life-changer) for KOGs collectors. If you would like to know more about Red Fox Labs' plans for the ECommerce markets of Southeast Asia, please watch the video shared below from CEO and co-founder Ben Fairbank.
If you pay attention to this (and to my hints) you may catch a glimpse of the true potential of Red Fox in the way that I see it. Then you will know why I am so excited.
Other Importance - My KOGs are Beta Than Yours
In other news, the first KOGs game (the Slammer Game) has begun private beta testing, which was released on the same day as these exciting staking rewards. Because of my completed Super Sets, I have been invited to test the initial Android app, and I can tell you first hand that it is amazing. It was well designed and I can already tell that it will become an immensely popular game as soon as it is released. But you'll have to have KOGs to play.
Stay tuned for more from me about KOGs and even some early glimpses and sneak peaks of private Beta Slammer matches. I may even offer you some helpful strategic advice that could give you an advantage when you start playing for keeps (as they say).
Remember... KOGs are "Keys to Other Games" - I personally can hardly wait for the other games. Fortunately, I don't think I'll have to wait for long, because the team at RFOX Games and KOGs really knows how to get things done right, and how to get things done fast.
Thanks for reading Non-Fungible Stew! Good luck out there!
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