On September 22, the team behind the Wallstreetbets defi application called Wsbdapp announced the launch of a non-fungible token (NFT) collection featuring 15,000 generative NFTs. According to the team, the NFTs provide utility like VIP access to special metaverse events and yield farming boosts.

Wsbdapp Project Launches NFT Collection

During the first week of September, Bitcoin.com News reported on the Wallstreetbets’ (wsbdapp) platform, which allows users to transact with decentralized finance (defi) protocols like a decentralized exchange (dex). The project partnered with the defi project Balancer a few days later and this week, the Wallstreetbets (WSB) defi project has launched a collection of non-fungible tokens (NFTs). Jaime Rogozinski, the founder of WSB and strategic partner of the Wsbdapp project details for quite some time WSB memes were given out to the public free of charge. “The Wallstreetbets community has been giving out memes for free for too long; Apple should be paying everyone royalties for rocket and diamond emojis at this point,” Rogozinski said in a statement sent to Bitcoin.com News. “That’s why we brought together a global team of artists, builders, DeFi pioneers and blockchain fanatics to develop an NFT experience that combines the culture and creativity the community has shown over the last year,” he added. The founder of WSB continued:

We’re proud to introduce the Diamond Hands Pass NFT collection as we enter new frontiers in defi and create offerings that can help regular people own their financial futures. And cool art.

Raffle Tickets and the ‘Diamond Hands Pass NFTs’

According to WSB, the NFT statistics will include:

30,000 NFT raffle tickets

15,000 Diamond Hands Pass NFTs

153 unique artwork traits

40,600,560 unique possibilities

The project’s team also revealed that the genesis Diamond Hands NFT can unlock specific benefits. “There are 15,000 handcrafted genesis NFTs up for grabs, each with unique qualities and some with desirable rarities,” the WSB team disclosed. “In the interest of fairness, WSB is introducing a 30,000 raffle ticket system that allows participants to mint up to five raffle tickets per wallet. Once all tickets have been sold or the minting window closes, the draw will be chosen randomly by a computerized selection process. All non-winning raffle tickets will be refunded.” Every Diamond Hands NFT will be handcrafted generative art and Diamond Hands Pass owners get access to the members-only Discord room. NFTs will also benefit users by offering “enhanced yield farming rewards on [the Binance Smart Chain], and premium access to Wallstreetbets events.” The Wsbdapp project is not the first defi project to add NFTs to the project’s unique defi system and likely won’t be the last. Beyond collectibles, NFT concepts have been stretching into the realm of utility with concepts like VIP access, raffle tickets, discounts, and more. The NFT art was designed by the popular artist yung.lils.

What do you think about the Wallstreetbets founders and Wsbdapp project launching a collection of NFTs? Let us know what you think about this subject in the comments section below.