Terra Turtles — A new “Passive Income” model
There are two words that many projects are throwing around and that brings people in; “Passive Income”. Since the controversy of the delisting of some ETH projects on Opensea due to direct mention of passive income, we have started to see the rise in number of projects creating their own token and explicitly stating 1 $TOKEN = 1 $TOKEN.
The Terra Turtles Team have decided against rushing down the road of tokenisation as we can see from the projects that exist right now that token value almost always initially starts with a heavy pump followed by an even heavier dump.
Therefore, we can see that whilst moving into tokens that generate daily for staking does generate a form of income, it does not guarantee a stable source of it.
As NFT investors ourselves, we don’t want to be part of a project that sees a constant decline in value and price. So we have first set out to create a stable economy and ecosystem through our unique breeding and burning mechanisms.
In our proposed model Children Turtles will be burned for future Drops that will be key in building a Metaverse populated with Terra Turtles NFTs. If we consider Children Turtles as our provisional ‘token’, this means that Adam and Eve Turtles are effectively the ‘token’ generators.
What this establishes is the value for all of our Turtles; Adam, Eve, Children and all subsequent drops. It creates a working mechanism where each Terra Turtle NFT will theoretically always be going up in value, making our holders’ digital assets always be in the green.
This allows us also to continue researching tokenisation and analysing the projects that are rushing into it with staking and farming. In transparency, at the moment we see few projects that will be successful if the only utility for their token is for merchandise/change of clothes/giveaways etc.
The projects that we like that have adopted tokens at this point in time are EtherOrcs and Cool Cats, who have taken an interesting approach and we see could provide long term value. In the short-term keeping an eye on projects that have adopted tokens (on any network) will be key in formulating a strategy moving forward.
To conclude, the Terra Turtles overall strategy is to build value with every NFT that we launch, from Adam & Eve Turtles, to Children Turtles even to our Luna Lettuce. We will move into tokens only at the right time when we are able to say that our tokens will truly be able to create a notable passive value increase for our holders.
In short, the earlier you get into the Terra Turtles, the more benefits you will see. A long-term project looks beyond marketing gimmicks and focuses on utility. Always bear this in mind.
Website: https://terraturtles.io
Twitter: Terraturtlesnft
