Cargo: Stake Crypto into your NFTs

Did we all die and enter NFT heaven?

Cargo: this new platform in 2020 for NFT creation and trading, comes with web3 login, dashboard, marketplace, governance/curation token (GEMS) and minting token (Cargo CREDITS).

Both these above tokens allow for staking and passive income rewards.

Note: you could go and find an NFT from its marketplace with these included, meaning you don’t have to buy them from Uniswap etc. (and you get some groovy art, or bad!).

‘Showcases’ : these you can create as public pages to feature all your contracts, or Collections. These Collections include those minted by other platforms (Opensea etc), but of course you get more features with Collections created via Cargo.

The Merry Gift of Staking

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What I love is the ‘NFT staking’ concept, increasing the value of any NFT. So a collectible isn’t just valuable for its art, message or contents but for its staking value too. Indeed you can add any amount of $GEMS and select an NFT to stake them to (under ‘GEM Portal’).

They generate rewards in GEMS and CREDITS unless you withdraw them. This brings instant, liquid value to any NFT.

You can store or transfer these NFTs anywhere, and they still generate rewards, unless you were to withdraw them manually, or transfer them directly to someone else / sell them (whereby they gain the rewards).

Unlike the RARI tokenomics at present, it could be a more effective way to encourage creators to grow with the platform.

You can mint multiple NFTs (batch minting) which is a great new feature and one in high demand.

In brief, this platform is another step forward for NFTs.

When ETH2 really kicks in these kind of projects are well positioned. [Check out GSWAP + SHROOM also.]

Site / UI

As ever with these somewhat clunky marketplace sites, hopefully the speed and menu systems will evolve and improve for better user-friendliness. More focus is still required here, as there are confusing aspects.

[Update: Cargo team have recently improved the dashboard including customising ‘Showcases’ much better all round. Nov 2020.]

Resources


Ade’s Press at CARGO:

Check out the Ade’s Press InkGEMS via MakersPlace

Nov 2020

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