We are entirely in love with the thought of generating passive income. It is wonderful to wake up in the morning knowing that you have earned money/crypto while snoring, or to pay for groceries at the store, knowing that during the time you walked around the store, you earned the money passively that you will now spend to actually pay for the groceries. What about going on a vacation to Spain and knowing that while you enjoy life on holiday, you are actually earning money constantly through different passive income sources?
Everyone likes the sound of passive income and we all dream about it. That is what has made thousands of people invest in popular crypto platforms such as Strongblock, Thor Financial, Phoenix Community Capital, PowerNodes, Comb Financial, and that is also why people stake their stable coins on platforms such as Nexo, Platypus Finance, and Anchor Protocol. These are all giving you awesome rewards that keep on giving you streams of passive income, while you do something else.
- The node protocols (Strongblock, Thor, and the others) will make you pay a starting fee (that you lose), but later you are promised a stream of passive income for a long time. Your original investment is lost, but for every day passing by, you are generating new tokens. Normally, the return of investment for such protocols vary between 50 and 100 days, but this is also heavily depending on the Dollar price of the token you use for the investment.
- The interest based protocols (Platypus, Nexo, Anchor) will make you deposit stablecoins and they will give you a very neat interest on your stablecoins (often varying between 5%-40%), depending on several factors. These are “slower” than the node protocols, but many consider them to be way safer as your original deposit will remain yours, and you get to enjoy way better interest than a normal bank would ever give you.
And then you have the Cryptopuffies…
Cryptopuffies is a project created by the team behind PenguinFinance. This is a group of people closely related to AvaLabs (the team behind the Avalanche Blockchain) and they are well-known in the community. PenguinFinance is a place where you can farm with your LP tokens to earn higher rewards, you can be a part of launchpad projects (like Spotlight on Kucoin and Launchpad on Binance), and you can also be a part of different games and events. And now, they have launched Cryptopuffies.
CryptoPuffies is a collection of 8888 randomly created figures. These are NFTs, meaning that there is only one of each, and they are all specially made. They are all numbered, meaning that they are all different and have different functions. But, why should anyone invest in Cryptopuffies?
Cryptopuffies will generate passive income
The price of a Cryptopuffy is currently 2 AVAX per piece. If you buy one piece of art, it will be yours forever (unless you sell it). In other words, your investment isn’t lost (like with the normal node protocols), but instead, you buy a piece of art that has value in itself.
There will be several functions for the Puffy you own in the future, but now at first, you can use it to generate passive AVAX income. Currently, there are 350 AVAX tokens being spread out weekly between the owners of staked cryptopuffies. As a result, the more cryptopuffies are staked, the lower the reward will become per puffy. But, let us look at the math right now!
An example of how much you can earn with CryptoPuffies per Puffy . Ex: The price of a CryptoPuffy is 2 AVAX (this is a permanent price) Ex: There are 4200 cryptopuffies staked. Ex: The weekly number of AVAX tokens shared between the cryptopuffy owners is 350. With these numbers, you will earn 0.083 AVAX per Puffy per week. Time until R(eturn)O(f)I(nvestment) = 24 weeks
Above you can see an example of how you can generate passive income with CryptoPuffies, just like you can with all the node protocols. But, it is once again important to remember that you actually own the CryptoPuffy all the time and you can sell them later if you want to.
There will be quite a lot of extras, bonuses and more coming up, so the math above might turn out to be much nicer in the end than the 24 weeks expected at the moment to ROI.
If you pay attention, you can earn even more…
There are some extras also added to the staking opportunities for CryptoPuffies. Did you know that every single CryptoPuffy has a dear-dear friend? If you find that friend and stake the friends together, they will actually make you eligible for 3x rewards for both of them.
If you check the CryptoPuffies contract, and scroll to number 23, you can type the number of any CryptoPuffy.
Above you can see that the best friend of CryptoPuffy #150 is CryptoPuffy #3632. If you own both and stake them together, they will both receive 3x the rewards of a normal puffy. This might be hard as most people stake their puffies, but if you manage to find and unite some friends, that will greatly increase your rewards.
As you can see, there is also a Nemesis for each CryptoPuffy, but we still don’t know in what way those will influence the life of our dear puffies.
There will be other ways to use your CryptoPuffies as well in the future, but at the moment, the staking opportunity is by far the best and the most rewarding way to use them.
Time to earn passive income with art!
The principle might be the same as with many other node protocols, but here you can simply buy a piece of NFT art, stake it, and generate passive income. We truly trust the team behind this project, meaning that we do not fear a rug pull or any other similar event. Of course, all investments should be done based on careful investigation and research, but currently, this might be a brilliant and funny way to generate some passive income.
And do not forget that the entry-level is 2 AVAX (2x$85 at the moment) which is the price of a Puffy. If you compare that with other node protocols like FIRE ($6300), Strongblock ($2800), ProjectX ($260), and many others, that is still a very easy and low entrance, and since you really do buy an NFT that has a value, it might feel even easier!
What do you think? Are you ready for some passive income with the cryptopuffies? Are you enthusiastic or are you skeptical? Do you have any questions or comments? We would love to hear from you!