👷‍♂️Utility NFTs

Utility NFTs at uBits Capital: Value Enhancement Through $UBITS Token Burning

At uBits Capital, utility NFTs introduce an additional layer of value and functionality to the ecosystem, bridging the gap between the digital and the real world. A distinctive feature of these NFTs is their minting process through the burning of $UBITS tokens, which not only creates demand for the tokens but also contributes to their appreciation by reducing the circulating supply.

For Work

Utility NFTs designated for work are issued in a reasonable yet limited quantity and can be traded. They enable professionals from various fields to work and be compensated for providing services to the platform and the wider ecosystem. Examples of applications include:

• Lawyers

• Accountants

• Investment Managers

• Investment Advisors

• Partners

These NFTs encourage active participation by professionals in the development and maintenance of the uBits ecosystem, offering a tangible and verifiable way to acknowledge their contributions and skills.

For Investors

For investors, utility NFTs offer a range of benefits that enhance the investment experience, such as:

• Fee reduction or exemption

• Commissions

• Cashbacks

• Free entries to events organized or sponsored/supported by uBits

These NFTs are structured in levels, with each ascending level providing increasing benefits and requiring a greater number of $UBITS tokens to be burned to reach it. This mechanism not only promotes greater interaction and engagement within the ecosystem but also encourages the accumulation and use of the $UBITS token, boosting its demand and potential for appreciation.

Impact on the Ecosystem

Overall, the mechanism of utility NFTs minted through the burning of $UBITS tokens creates a virtuous cycle within the uBits ecosystem. By encouraging token burning, it significantly contributes to the reduction of the $UBITS circulating supply, enhancing its long-term appreciation. Moreover, it facilitates the customization of investments and access to exclusive opportunities for both professionals and investors, reinforcing uBits' commitment to innovation, financial inclusion, and sustainable growth of the Web3 ecosystem.