Today we are talking about what I believe has the potential to be the #1 real estate utility NFT out there - TYKES.
I'm excited to talk about Tykes, which is an NFT project based in real estate. Tykes is a Community focused on merging real estate with the blockchain. The face and founder of this project is Ryan Pineda, whom you may have seen on youtube. He flips Real Estate, runs multiple businesses, masterminds, and all that and now he is expanding into web3 Space.
Tykes is looking to bridge the gap from web2 to web3. Ryan is bringing a lot of big money/ real estate investors into the space, which is awesome. His clients who normally pay thousands of dollars to join his mastermind are now able to mint or secure their mint for just hundreds of dollars. $500 being the first presale price. My wife, was actually the first one who introduced me to this project through some of Ryans real estate videos.
THE UTILITY
I would classify this as a Utility-based NFT project. I love me some NFTs that provide real-world value, and in this case, primarily Real Estate. This is the kind of project I would love to get behind and support… as a classic tweet by Gary Vee says “now” collectibility with a hint of utility. Later: Utility with a hint of collectibility” I find this very true of the NFT space. Not a lot of NFT projects are bringing real-world uses to their NFTs yet but that is slowly increasing.
Through Ryan’s high net worth connections in Real estate, he is pooling together a powerhouse of a community of entrepreneurs, business owners, real estate investors, influencers, and more. Tykes are connecting and doing real estate deals with each other. The Community is looking pretty solid.
For this project, Ryan is putting up his 1.5 Million dollar property in LAS VEGAS with rumors that maybe 2 other properties will also be available for Tyke Holders. It’ll be a whole web3 thing, where you take your Tyke NFTs. You will Stake them and it will earn you Tycoin to purchase nights to this property.
I love how this property already exists while there are possibly more to be announced in the future. I’ve noticed that other related NFT projects are still looking to provide this kind of utility, they need to raise NFT funds to fund a single property. While in Tykes there are going to be more properties, hence more utility.
So the Tycoin you earn from these NFTs will be used in the marketplace which will have other products and services from community members and Ryan himself. This is looking the like community is going to provide some real value, which really I haven't seen from other NFT communities.
There will also be real-life events and education all surrounding Real Estate, crypto, metaverse, and all things in between
THE MINT
So the mint already happened - wish I could've made this video earlier
For myself, I was able to snag a presale in early July which started at $500 USD. And the price Went up to a $1000.
the presale was not in ETH or crypto which I was slightly worried about. It was through a credit card but the main purpose of this was to bring in a lot of normies, or a lot of new people into the NFT space.
MINT went live just a couple of days ago on August 31st. Most of the collection was sold out with only 100 Tyke NFTs being offered to the public at a price of 1 ETH
NOW you can only purchase on the secondary market, and as I'm filming this, floor prices are around 3ETH
And a special congratulations to the Tykes team as they have hit TOP COLLECTIONS over the last 24 hours.
WHAT HAS HAPPENED SO FAR
So aside from floor price and volume,
Tykes have been revealed, the artwork is pretty good but most people in the collection are here for the utility and community
The tiers of collectors have been released
Whether you own 1, 5, or 20 Tykes there are certain benefits to you as the holder
1, puts you in the real estate focused community, earning tycoin if you stake, with the ability to purchase things on their marketplace
If you have 5 tykes or more. At the snapshot, you will be qualified for a free Tyke with special utilities that have yet to be released.
Rumor has it that could be in relation to the Tyke beasts that have been shown on sneak peeks and on their website
Tykes are looking to reward those who are DAY 1 holders and are long-term holders, There will be a special designation for those who have held since day 1.
If you are a whale, with over 20 Tykes, you are a board member. You are in an intimate elite group of individuals with Ryan and other Tyke holders with very special privileges. They are already invited to the property in Las Vegas before Ryan's real estate event at the end of September
COMPOUND Staking has been announced
I’ve mentioned Tyke staking already. The rarer your Tyke the more the Tycoin it can earn. Each NFT can earn you a certain amount of Tycoin per day. the longer you hold, you can earn up to double to almost triple the amount of Tycoin per day. At 12 months you would be earning your maximum tycoin because of the compound staking properties of the NFT.
FINAL THOUGHTS
The 3 ETH Floor price seems pretty high, especially at post reveal. I imagine it pulling back a little bit. But in the long run, who knows how high this can go. It is still early in the project, the marketplace is not up yet. And They still have many announcements and surprises for the community.
From how the project is being run so far, Ryans team seems to have done their due diligence in running an NFT project. They have building since January of this year. Personally I’ve been pretty impressed with how things have gone, web3 wise. Especially since there is a focus on drawing a web2 crowd for this project. I did put some of my money into this TYKES project at presale and have not sold.
I am excited for the community, the marketplace, the Tycoin, and all the things that can be used with the Tycoin. As you may know, I love Real Estate, Airbnbs, and NFTs. So this project really fits all with what I do. Thanks for reading!