Flambos Incoming! NFTs Launch on Yieldly — Game Time — August 31
Another world first on Algorand: NFT no-loss prize games.
NFTs are eating the crypto world. Yieldly is thrilled to announce the upcoming launch of the first-ever NFT no-loss prize games on Algorand. The community demanded it. We are delivering. The evolved prize game model, slated for August 31, promises to change the way creators and fans interact with NFTs on Algorand. This is just the beginning of Yieldly’s world-first Algorand NFT plans. Yieldly will soon launch more with esports, gaming and other creators to be announced soon. We want NFTs to be used across our app, in games, and be easily exchanged. This NFT prize game is step one in this process.
NFT no-loss prize games
Yieldly’s NFT prize games are simple to participate in. All you need to do is stake YLDY and every week will be able to enter prize games with the chance to win unique digital collectibles and other NFTs made by premiere artists and other high-profile partners. The NFT prize games model is a natural extension of Yieldly’s vision of reimagining the way in which digital value is exchanged.
What’s better than a Lambo? A Yieldling Flambo…
We are delighted that Yieldly’s inaugural NFT prize game will allow our community to win Yieldlings. There are 500 unique designs and three weeks ago, Stitchbob’s pixelated Yieldly-inspired flamingo NFTs became the must-have NFTs on Algorand.
Commenting on the partnership, Yieldlings creators Stitchbob said: “They were born from the Yieldly community telegram — which has been amazingly positive, and funny, and just this nice little corner of the internet.” Stitchbob added, “Algorand makes sense for NFTs. No forking, tiny transaction fees, fast as flip. You see more and more artists moving their work over here everyday, which is amazing to see. It’s kind of crazy to partner up with Yieldly to make Yieldlings the first ever NFT prize game, and I can’t think of a better way to distribute some Flambos.”
Indeed, Algorand is an attractive home for Yieldly’s new NFT use case, with very low fees thanks to its Pure-Proof of Stake (PPoS) algorithm and a low carbon footprint.
How to enter the NFT no-loss prize game
It’s a simple process as outlined below:
- Stake in the existing YLDY staking pool.
- On the NFT prize game page, anytime before the draw, you can click to enter any pool (Yieldlings pool will be the first to launch).
- You will sign an entry fee transaction that costs a fraction of an ALGO.
- Winners will be randomly selected. The amount of tickets you have corresponds with how much YLDY you have staked at the time of the draw.
- Winners opt-in to the NFT and receive it in the next 24 hours.
Flamingos in space
Yieldly is fusing DeFi’s reward-generating qualities with provable scarce digital goods like NFTs, giving you more options than ever to earn rewards on Algorand. Expect multiple NFTs up for grabs every week in the MVP prize pool. Also, keep your eyes out for some flamingo space invaders, esports, and competitions…
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Originally published at https://yieldly.finance on August 12, 2021.