Introducing NFT Crafting Mechanism to Upgrade Your NFTs
DeFi City brought NFTs to DeFi asset management and gamified the DeFi experience for users. The basic concept of DeFi City, as you may know, is to enable you to manage your DeFi investments from within a city NFT that you own in the DeFi City ecosystem.
For this, you must first buy the DFC token and use it to buy a scroll, which, upon opening, offers you a new city in the form of an NFT. These cities all come with four different properties — Grid, Townhouse, Resources, and Environment.
Depending on which type of these properties your city has, you get a different range of benefits in the DeFi City ecosystem.
However, it is likely that you do not like a city NFT you mint upon opening your scroll, or you want it to be more beneficial and unique. Many of our community members raised this concern and requested that we add the ability to upgrade their NFTs.
So, you asked, and we delivered. We have come up with Crafting Mechanism in DeFi City to enable you to do just that.
What’s Crafting Mechanism?
When you become an active part of DeFi City, chances are, you will own multiple NFTs that do not add too much value to your portfolio, or you simply don’t like them. In such a case, Crafting Mechanism offers you the ability to burn three of your exactly same NFTs to mint one higher quality NFT with more premium properties.
When burning your NFT, you will get to choose which of the four properties within your NFT you would like to upgrade through the process. The burning and minting process will cost 100 DFC tokens in fees, 75% of which will be burnt, while the remaining 25% will be sent toward the development of DeFi City.
But First, Know the Rules
As we’ve already mentioned, you cannot merge and burn any three NFT into each other to create a new, upgraded NFT. The NFTs you choose to burn must be exactly the same.
Furthermore, you must note that when you merge three equal NFTs, each with 1st edition traits, the new NFT will also have the 1st edition trait. But if you merge two equal NFTs with 1st edition and one equal NFT with non-first edition, the newly minted NFT will not have the 1st edition trait. So, you must watch out for what you’re merging and burning to craft a new NFT.
An exception to crafting is that you can only upgrade from blue to the purple grid if you have three of the same grids and at least one of the top-two properties across any of the remaining three properties. This means, to upgrade to purple grids, you need blue grids across all three NFTs along with a skyscraper/supertower as your townhouse or ruby/diamond as your resource or sun/galaxy as your environment.
Should You Upgrade?
Yes, if you want better. We all want better. And we don’t want things that don’t add any value.
By using three of your less-premium NFTs on DeFi City, you get the opportunity to create a rarer city NFT. Say you chose to upgrade your Townhouse through the Crafting Mechanism, and the new NFT you get has a Skyscraper compared to the Penthouse you had in your other NFTs. In this case, you will get 3% staking APY instead of just 1.5% for staking your new NFTs.
Besides, by creating a rarer NFT, you will also create an NFT that will be more in demand across NFT marketplaces.
Lastly, before you delve straight into upgrading your NFT, you must note that version 2 of the DeFi City staking contract is not yet in place. So, you will not be able to stake your newly minted NFT.
To make sure you do not miss out when the new staking contract goes live, stay tuned!
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