Meta Piggybanks are NFTs based on a ERC-721 contract on the Ethereum blockchain. To explain it quickly, it’s NFTs that will have unique and revolutionary features giving you the possibility to hold, exchange or even break your NFT to be able to obtain rewards.
The fact that you can choose to break your NFT means that it will have a deflationary supply, with each NFT getting more and more value as the number of remaining NFTs gets lower.
Who never had, as a child, a small piggy bank to store their savings? Our team certainly had some and we loved them. It was such a great experience to fill it up one coin at a time. We never really knew how much was inside of it after a while, so we always asked ourselves “If I break it now, is what’s inside enough to buy what I want ?” and “Do I really want to destroy something so beautiful ?” most of the time the answer was “No” so we would wait some time before we really needed the money, to finally break it.
The secret lies here: the more we waited the bigger was the reward.
This is a concept that some of us had a lot of difficulty applying in our investments nowadays with cryptos or NFTs. We would just look at the price and think “That’s lots of money, I’m gonna sell it now” because we can see the value of it in real time. And most of the time we would come back months later and regret selling it because the price kept goping up.
Here, with MetaPiggyBanks, we wish to reproduce this genuine feeling of not wanting to get separated from your NFT, and not knowing exactly what’s inside of it until the moment you break it. Sure, you can have a vague guess of how much is inside or decide like any other NFT to not break it and just sell it. But you could get much more value by holding it and breaking it later.