The KOGs Play-to-Earn NFT universe is a product of RFOX Games and will be a prominent feature of the upcoming RFOX VALT metaverse.
Since the virtual destination revolves around retail and entertainment, there must be plenty to do and see inside its digital borders. Playing games is but one aspect, and while the VALT is under construction, the quickly growing team RFOX added new utility to an Ethereum-based NFT collection.
Last week’s launch of the KOGs Mint Lab added five new NFTs to the WAX blockchain. The program has grand aspirations, and it’s very promising to see the initial run become successful.
Merging the Bored Ape and KOGs communities is a slick move, and RFOX Games injected utility into the BAYC. Now you can do more with your Ape than using it as an avatar for flexing on crypto Twitter.
A 36x ROI
Per the conditions of the KOGs Mint Lab, Bored Ape owners pay 0.1 ETH (plus gas) to mint 5x KOGs. The NFTs have immediate utility and can be sold on the AtomicHub marketplace.
RFOX used Bored Ape #5503 as the guinea pig for the Mint Lab’s inaugural run to prove the concept. Five copies of a new KOG saw minting last week and went up for auction on AtomicHub. They each fetched a very pretty penny!
Somewhat surprisingly, mint #1 wasn’t the highest priced. That honor went to mint #3, which was auctioned off for 5.490 USD! All five NFTs brought in over 18.000 USD or the equivalent of 3.63 ETH.
Of course, there are no guarantees here, and prices could be much higher or lower next time a BAYC member decides to mint. But gaining 3.53 ETH in one day is a fantastic return!
The 9.000 USD broom
Half of all the ETH collected from the Mint Lab program is set aside for buying the floor of 2nd and 3rd edition KOGs.
Certain NFTs are less than $1, maybe even 3 or 4 for $1, meaning $9k will buy loads of KOGs. Look for floor prices to climb as the months roll on. I’ve said it before, but I’ll repeat it: now’s the time to grab 2E KOGs from AtomicHub.
As more Bored Ape owners ape into the program, RFOX Games will collect more ETH to burn more KOGs. Unlike 3E, which will be sold inside the KOGs: SLAM! game, 2E KOGs are only sold on secondary markets.
Once the Play-to-Earn aspect of SLAM! is alive and kicking throughout Southeast Asia, thousands of eyes will turn to KOGs collectibles. We’ll soon see that there just aren’t enough KOGs NFTs to go around.
And I don’t think I need to explain the law of supply and demand.