Basis.Markets NFT is a whole ecosystem that claims to offer zero directional risks with huge ROI to the community through dedicated DAO, Staking, NFTs, and much more. Basis is run by a group of experienced traders with a wide range of skill sets.Markets are non-directional, have a lesser risk, and the risk-to-reward ratio is second to none.
While I was planning to write this article and was collecting the data, there was no more authentic place to look than their discord channel. I hopped into their server and for some reason, their auto verification bot wasn’t functioning (there’s a chance I didn’t use it properly). I had to create a ticket and was verified instantly by Basis.Markets team. That was an encouraging response. They happen to have a very cooperating community and they helped me with everything I required. Continue reading to find out what Basis.Markets are all about.
|Project Name||Basis.Markets NFT|
|Launch Date||November 15, 2021|
|Floor Price||8.0 SOL|
It came together as a group of experienced traders and developers with a range of skills across traditional finance, DeFi, market making, machine learning, trading automation, crypto analytics, yield farming, etc. The Basis.Markets engine now automates 24/7 trades, users’ owned liquidity pool, high APY Staking tools, Delta neutral Yield, Real-time market insight, and the last but not least a phenomenal collection of 4000 community-owned (and 1000 team owned) NFTs. Now, what adds value to the Basis.Markets NFTs are the Decentralized liquidity pool that is powered by the Basis.Markets Engine. Additionally, the delta-neutral yield and real-time insights make the gains lucrative for all the NFT Holders. The TVL (Total Value Locked) on the Basis.Markets Staking platform is above $675 million in Basis/USDC pair.
How this engine and liquidity pool work need more words of explanation so let’s break each down one by one. The Basis.Markets Engine short for BME actually does the in-depth and real-time analysis to aid and prioritize the highest gains from long short and basis trades by comparing around 15 crypto exchanges. The Basis.Markets Engine’s alpha version is in working after undergoing various changes since its launch in December.
The apace growth and decentralized Nature of these NFTs make the entire collection stand out among other collectibles. Decentralization was the first thing that I noticed while I was on their server where the team was discussing the proposal for the upcoming DAO. In this tweet, Basis.Markets are referring to the same proposal.
Decentralization means different to Basis.Markets team as the team is actually putting the control in the hands of the community instead of Venture Capitalists (VCs) or big players.
Continue reading to find out how can DAO proposal help and incentivize the entire ecosystem, particularly the NFT holders.
What is Basis.Markets NFT
It was November 11, the presale day when 1,000 Basis.Markets NFTs were sold in the first 211 seconds until the servers went down due to the over traffic. The servers came live later with a limited flow of transactions and all available NFTs for the presale were sold off in around the next 35 minutes. The enthusiasm of the community was obvious as 4006 NFTs were sold out of 5000 NFTs max supply – and all of this was happening before the public sale of November 15, 2021.The minting price of Basis.Markets for public sale were set to 8.0 Sol.
Basis.Markets put the community in control in every aspect of Basis.Markets whether it be the Basis Trade Engine, Future Roadmap, or even the investment pools – no wonder why the community was mad about its release. Through their innovative model, the project has turned the table through an optimum decentralized nature system. Including community in decision-making not only empowers the community but creates a thriving environment for both users and the project itself. The Basis.Markets NFTs are card-like collectibles that unlock perks and profits for the lifetime – more about profits in the next part.
What are Basis.Markets Traits?
Basis.Markets NFTs are different as they don’t depend on the rarity. The entire collection is similar and looks like a pack of cards. The purpose of this collection was to offer access to the community to the members-only perks. How does Basis.Markets create value out of similar NFTs without promised rarity and uniqueness? Well, that is where the fun begins!
Why should someone Buy Basis NFTs?
The value of these NFTs lies in the power they offer their community. These NFTs work as utility tokens so creating rarity isn’t the question here. Once you buy an NFT you become a part of their team who can vote on even their future decisions, benefit from highly advanced trading tools, and much more in the queue. NFT HODLers can have exclusive access to the yield and Basis.Markets infrastructure. Ultimately, being a Basis.Markets NFT holder grants you the following perks:
- Lifetime Access: you get exclusive and never expiring access to all the trading tools of Basis.Markets including Basis.Markets Trading Engine and platform. As mentioned earlier, the Engine is a high-end trading tool that has to offer risk-free and directionless trades (Delta neutral) trades. The delta neutral strategy ensures profitability by opening multiple trading positions to balance positive and negative deltas. This even outs the huge market volatilities to secure the users’ funds.
- Ownership: NFTs are actually tokens with proof of ownership certificates. The Basis.Markets NFTs offer you a lifetime of ownership of their NFT. This makes you a permanent member of their community and helps to understand the project even deeper and reap the profits that the community plans in the future, following the roadmap.
- Passive Income: This one-time investment in the BM NFT helps you earn passive income for eternity. Users get incentives from the returns of the Decentralized Basis Liquidity Pool (DBLP). DBLP creates investing opportunities with the help of the Basis Trading Engine (BTE) and rewards investors according to their invested amount. Investors can invest as low as $1 in the liquidity Pool. The recurring profits from the DBLP are equally distributed among Basis.Markets NFT Holder, generating a passive stream of income forever.
- Secondary Market Trades: NFT holders can trade these NFTs and speculate their value on different NFT marketplaces like Solsea and Magic Eden.
- Rental Opportunity: Selling these NFTs mean cutting all the perks and profits but you just want to take a break, right? So, you can lend your NFT Ownership and earn a fee over it – fair trade.
- Community: Getting to know and interacting with a thriving community is quite an opportunity you can get by buying these NFTs. Right now, there are 248 NFT holders on their discord server.
- Voting: This project is community-owned and decentralized in the truest sense. I’m aware that I’m emphasizing it but I have my reasons and I’ll explain them here.
- There is a total of 5000 NFTs in this collection which means 5000 people can vote on the future decisions of the project.
- These NFTs are distributed in 8:2 meaning the community will have 80% (4000) and the founder and developers’ team will have only 20% (1000) voting power.
- The 20% of the founders’ part will stay locked until two years of the launch date.
- This means the community has the total decision power until two years and even after that the community will still hold the 80% power to make the future decision about the project. Now, this is called true decentralization!
Working on the same principle, the project recently underwent voting for the approval of a DAO proposal which was passed with a majority of votes from the community. With DAO, a token is also being launched which will help the current NFT holders in various ways. NFT holders will be airdropped in the majority allocation of tokens.
The core concept of our model is the “Ownership NFT”, which is a lifetime bond that binds together access and ownership for all holders.
The NFT-onamics and perks are the main reasons that make this project unique and so valuable. No wonder why Basis.Markets NFT was ranked 2nd on the Hyperspace Top NFTs in utility.
How can you trade Basis.Markets NFTs?
Since all the NFTs have already been minted, you can not mint new NFTs so trading NFTs will be the same as buying. Check the method below to find out how you can buy Basis.Markets NFTs.
How can buy Basis.Markets NFTs?
Basis.Markets NFTs are Solana-based SPL token standards so one thing is clear you’ll be paying far lesser fees than Ethereum-based NFTs. This collection is available on Solsea as well as on MagicEden NFT marketplaces that offer NFTs on the Solana blockchain. First, you’ll need a Solana-based wallet to buy Basis NFTs. Phantom Wallet is the most powerful Solana wallet available in the market. Sign up for the Phantom wallet the same way you sign up for Meta Mask or Trust Wallet.
Now visit one of the Marketplaces, for this example, we’ll use Solsea. To avoid scam and phishing attempts, open the collection from the above link.
Double-check that they are verified collections with a “blue tick. Now, from the top right tab click “Connect wallet” and approve it from the browser extension or your phone wallet. Pick the card with the least price (since all NFTs have the same value at the core and all are the same). Click the NFT to open details and click buy. Sign the transaction and your NFT will appear in your wallet if the transaction succeeds. You must have enough SOL to pay the NFT price and fees.
What was the most expensive Basis NFT?
Basis NFTs are utility based which means all the NFTs offer the benefits and have the same value at the core. However, their value differs due to the sellers’ ask price. Sellers are asking for over 15000 SOL for their NFT yet the most expensive ever sold was Basis.Markets NFT #2504, as per Solsea activity report. This NFT was bought on November 28, 2021, by this buyer.
Where can I find Basis.Markets NFTs on Sale?
As mentioned earlier, these NFTs are available on two platforms: Solsea and MagicEden. The address to both platforms is given above. Verify the blue ticks to avoid scams or attempts. From each platform, you can use a filter to find the lowest-priced sale to buy your BM NFT. Magic Eden has listed only 5 NFTs and SoleSea has listed only 7 NFTs – so there’s not much to choose from. This has created some sort of hybrid scarcity of these NFTs and that’s the reason why the NFTs on sale are so expensive. One thing is obvious, however, there are not many people who want to sell their NFTs. All HODLer!
There are millions of NFTs on tons of Marketplace that claim to be “rare” and “unique”. In the future, when the NFT marketplaces are crowded with double NFTs as we have today, the rarity and uniqueness will not be the value factors anymore – and that’s where utility NFTs come into play. Utility NFTs like Basis.Markets have nothing to do with these factors as the NFT holders are incentivized for owning NFTs, no matter which one. I was able to find only 5 to 7 out of 5000 NFTs on the marketplaces and one of the NFT holders in discord told me that they don’t want to sell it.
Only a few projects can grow such an ambitious and strong community, not just because they have perks but because they know they have more decision power than the founders do – and that’s what empowers them.