In my previous article, I introduced some yield-farming opportunities on Metis such as providing liquidity on AMMs and multichain bridges and recursive lending/borrowing on money markets.
Also Read: Yield Farming On MetisDAO: Here’s How To Earn Yield On Your Idle $METIS
In this article, we will instead focus on more advanced strategies revolving around NFTs.
NFT marketplaces
The current NFT scene in Metis is extremely nascent, and there are currently only two main NFT marketplaces on Metis.
The first is TofuNFT, which is an NFT marketplace found on multiple chains. The next is Metis Market which is primarily a Metis-native NFT marketplace and launchpad.
Trivially speaking, the easiest way to make money from NFTs would be to simply flip it. This is done by minting the NFT at mint price and selling for a higher price on the secondary market. But apart from this basic method, there are some interesting NFT projects on Metis to consider investing in too!
[Author’s Note: This is not financial advice and I am definitely not endorsing any of these projects. It is not uncommon for NFT projects to end up as scams so do your own due diligence and invest with discretion.]
Also Read: NFT 101 Guide: Here’s What Every Beginner Needs To Know About NFTs
Bits Collection (fully minted)
The Bits Collection is a collection of 2,500 NFTs created by the BinaryDAO project. BinaryDAO is a yield farming DAO on Metis, allowing users to stake their $BYTE tokens to participate in the protocol’s revenue sharing process.
The utility of a Bits Collection NFT is as such: if the user has at least one NFT in their possession, the APY from staking $BYTE will be boosted, allowing the user to enjoy greater yield!
Metis Punks (fully minted)
Metis Punks was one of the first few NFT projects to launch on Metis.
Fun fact: The developers who created the collection realized they needed a marketplace for users to trade their punks. As such, they simultaneously developed a brand-new marketplace for users, and this was how Metis Market was founded!
As such, holders of Metis Punks, being the genesis collection of Metis Market, will enjoy additional benefits.
Firstly, Metis Punks holders enjoy airdrops from other upcoming NFT collections that will be launching on Metis Market. For instance, as a Metis Punk holder, I was allowed to mint a Dede NFT for free.
Additionally, when users trade NFTs on Metis Market, they would need to pay the protocol fees. A portion of these fees will then be redistributed to Metis Punk holders, thus generating passive income for holders like myself.
Metis Cats (Mint is live)
Metis Cats is a rather interesting NFT collection that is more than just a PFP project. For each NFT minted, the protocol will redirect a portion of the revenue into a Metis Investment Fund.
Anyone from the community can propose investment ideas, but the creators of Metis Cats are ultimately in control. The Fund will eventually be invested exclusively in Metis protocols, and profits will be shared amongst Metis Cat holders every Sunday.
I have been holding MetisCats for the past three weeks, and here are my rewards:
- From 20 Feb to 27 Feb, the Fund enjoyed a profit of 163 $METIS. As there are 2293 Metis Cats minted, for every Metis Cat that you own, you will be airdropped 0.071 $METIS.
- From 27 Feb to 6 Mar, the Fund enjoyed a profit of 175 $METIS. As there are 4038 Metis Cats minted, for every Metis Cat that you own, you will be airdropped 0.043 $METIS.
- From 6 Mar to 13 Mar, the Fund enjoyed a profit of 119 $METIS. As there are 4727 Metis Cats minted, for every Metis Cat that you own, you will be airdropped 0.025 $METIS.
Essentially, over the past three weeks, Metis Cats holders would have received 0.139 $METIS per Metis Cat held.
Given that the minting cost of a Metis Cat is 0.25 $METIS, you should be able to breakeven on your NFT investment within six weeks.
Metis Earth (Mint is live)
Metis Earth is a metaverse project on Metis that allows users to buy virtual land.
There are two types of land: Premium Land (PL) which costs 0.4 $METIS and Regular Land (RL) which costs 0.01 $METIS. There are a total of 17,179,869,184 RLs and 10,000 PLs. By holding onto land, users essentially own a piece of the Metis Earth Metaverse. They can then customise their land and property by integrating digital items like NFTs.
On top of that, PL holders get to enjoy $ME rewards ($ME is the native currency of Metis Earth). Referring to their documentation, 490 $ME tokens are allocated to PL holders. This means that for every PL that you hold, you will earn 0.049 $ME. At $ME’s current price of $481.90, this translates to a return of $23.61, distributed over a time span of 24 months.
P2E (Neptune)
Neptune markets itself as an open metaverse world of digital life battles. Simply put, it aims to be a P2E game where players collect and arm ‘Nepers’, Neptune’s playable NFT collection. They can then embark on adventures and battles through combat. Besides minting Nepers, they can also be created during the game through summoning.
In my opinion, Neptune gives off a vibe pretty similar to Harmony’s DeFi Kingdoms. If it does follow DFK’s trajectory, then this is certainly a project I would want to be involved in.
But since the game is not playable yet, the only thing we can do now is to mint Nepers. By holding Nepers, users will also be airdropped $NEP tokens! The timeline for minting is as follows:
17 Feb — 3000 available for minting at 1.8 $METIS each (ended)
24 Feb — 3000 available for minting at 2.4 $METIS each (ended)
14 Mar — 2000 available for minting at 2.4 $METIS each (mint still live)
I was lucky to have minted a couple of Nepers in Round 1 at the cheapest price. If you did not manage to mint any, don’t worry as they are tradable on the secondary marketplace, TofuNFT.
Conclusion
The main takeaway from this article here is that growing your $METIS bag is not exclusive to DeFi protocols.
Through NFT space, users like us will be able to use our $METIS to earn even more $METIS to prepare our bag for #L22022.
Also Read: Buy NFTs With Less Gas? Here’s All You Need To Know About Gem, The NFT Marketplace Aggregator
