Musical Defi + NFT at Your Doorstep. Interested?
I will dumb this down to my own understanding of the phenomenon, because I don't really have any knowledge of the music world. The way I see it, good musicians really feel the rhythm and the ones with a business sense also understand and fight for their ownership rights.
As it happens, NFTs are about ownership of special products like... music. I read yesterday a post from @acesontop where he related that Eminem will launch his first NFT.
But this shouldn't be a celebrities-game only. And it isn't. They are just the most visible.
I don't know if the monotone rhythm of receiving rewards in the defi world is exciting for a musician. But the rewards themselves could be.
Anyway, I've been dancing enough around the bush. Some of you may have an idea where I'm going with this.
We have in our Hive ecosystem for a relatively short while a new tribe: MusicForLife (their token is VIBES). If memory doesn't play me tricks, it was the first tribe (and only so far) which benefited from the angel investment of @SPInvest to get started.
I admit I didn't get involved with it, because I thought it's not the best fit for me. But I did notice people who have been involved, are happy with their choice and with the developments they see there.
About a week ago I learned about a new platform the guys behind M4L were about to launch. It was supposed to be a combination of defi and NFT, the two buzz fields of crypto right now.
The new platform was recently launched, it's called VFTLAB.finance and the interface looks like a fork of CubFinance, only simplified. Behind the scene, the application works on Hive/Hive-Engine, not on BSC, and it's also linked with the WAX blockchain for the NFT part.
You can go to this post of @spinvest if you are looking for a guide.
When I first saw their intentions, I was a bit put down by the fact that I wasn't a holder in any of the tokens they supported which I wanted to add to the new defi platform.
But today, after coming across SPInvest's post, I realized my liquid Hive is simply lying around without any use case, so I decided to add some of it to VFTLAB.finance. I think I read the rewards are distributed daily around midnight (not sure about the time zone), so tomorrow I'll have my first VFT rewards.
If you decide to stake some tokens in any of the farms (they are the equivalent of 'dens' on CubFinance, because they are one-token only), make sure you check the deposit fees first.
For more information, you might also want to check their own announcements:
https://www.musicforlife.io/musicforlife/@al-gaming/vftlaboratory-launch-announcement-eta-soon
https://www.musicforlife.io/musicforlife/@al-gaming/the-colossus-has-awakened-vftlab-is-here
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NFTs are the place to be. A great time to be an artist.
Yes, I think NFTs are a great opportunity for artists of all kinds.
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I am not involved in the tribe but jumped into their defi project and started earning from day 1.
It's easy to use and great to see defi on hive. You could sell the rewards on hive-engine but i used them to buy nft's and got the number 2 mint on wax for all of the regular cards.
Something for the future if it takes off.
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Oh yes, for sure.
The industry is perfect. The combination of technologies is hot (defi + NFTs). This could mean a great deal for Hive as well. There is interoperability between Hive and WAX ecosystems, too. The team behind seems to have lots of ideas and they put them in practice quickly.
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I love to see more integration with wax from hive projects. They are going to bring in a lot of people to crypto and nft's so having a way to bring them into our eco-system will be very useful.
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I'm not involved in the tribe but have invested Starbits and then moved the farmed VFTs into the DEN. I'm not sure what I will do with them yet. I just thought I might as well give it a go rather than leaving the Starbits in my wallet doing nothing.
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Good choice, I believe. I would have done the same, except I don't have any Starbits, as I never started playing Rising Star, even if I thought about it at some point. So I used Hive instead.
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I really enjoyed the Vibes community, but haven't gotten the chance to get better involved yet. I will check this out now.
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If you're in CubFinance, you'll find vftlab.finance very easy to use.
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