I figure a catchy title might grab some more attention.
NFTblockchain is a site that when you join you get 10 free tokens, called NFT's. These NFT tokens are currently worth about $1.21 on their website. Every hour, up to 6 times a day, you can claim some through their faucet. The amount is a provably fair system where one spot is for 500 NFT and another is as low as 0.01. The site has staking and even does an ICO every month for the newest staking coin with an APR of at least 500% when it first opens and slowly goes down over the month. For the month of January, the new ICO coin was called WOL and started at 20 cents each.
The website shows that it has a number of earning options and each one has the ability to reinforce the concept that you could make money, from this site, with $0 investment. As a free member, you can't withdraw your earnings until you have the equivalent of 900 NFT. So, with each NFT being about $1.21, that is over $1,000 that you get with no investment.
PROS:
It has the appeal and the chance to get large amounts of the NFT coin.
It has a mining system that you can earn more NFT.
It has a staking system where you can earn any of the many coins available.
Cons:
I don't think you can win. At the end of last month (December), I had over 260 NFT and was happy that I was on the move and earning. That is almost a third of the way to a withdraw. So, I took 250 of those NFT's and swapped them for the new ICO token, called WOL, at 20 cents each. That gave me at the time, a 1 NFT for every 6 WOL. 1,500 WOL at the 450%, would mean that I should have been collecting about 18 WOL a day in staking rewards, at that APR. So, at least that first day. Now, take that reward of 18 WOL and swap it back to their NFT coin, and you get about 2.55 NFT. There of course is a transaction fee of 0.1288 NFT when I harvested the rewards from the staking pool. So, I finish that transaction with 2.42 NFT. I noticed that over the month, the value of the WOL started to go down. At one point it had gone down to about 14 cents each which is 1:8 about. So, with the lower APR then showing about 250%, I pulled all of my WOL out of the stake. This was the original 1,500 WOL, now worth 1/8th of an NFT instead of the original 1/6th ratio. So, then I finish with 187 NFT instead of my original 250. This of course doesn't take the transaction fee which brings me down to like 186 and some change.
This meant that every time you stake, you only really make a profit for the first day, then you need to pull everything else out, before the new coin loses value. The NFT, is like the site's stablecoin in that it tries to stay along a non-fluctuating value.
End thoughts?
If you want to give it a try, login in with my referral code: https://nftblockchain.mobi/?r=445633
Every person who goes in through my code gets 50 NFT and I get 30 NFT for the referral. Maybe you have a better strategy than me and can make something from this site.
