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Bit Monsters NFT – why do people buy them?

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Have you ever heard about Bit Monsters NFT lately? The specific non-fungible token that many within the crypto community talk about a lot? Whether you have just stepped into the world of NFTs or have been for some time, knowing potential NFTs that can be an ideal investment opportunity is always a great thing!

This is where Bit Monsters NFT performs, about which we will give you all the necessary information. Crypto enthusiasts have become increasingly interested in non-fungible tokens that claim to take away the glory of traditional cryptocurrencies.

But why has Monsters Bit NFT become so attractive to the general public? Let’s find out more about this interesting NFT project, shall we?

What are Bit Monsters NFT?

Bit Monsters NFT represents a specific project whose metadata, mechanics, and art live entirely on the Ethereum blockchain technology. Every Bit Monster is created to generate a specific amount of the $BRAINZ companion token once daily.

The amount of $BRAINZ depends on the attributes of the particular Bit Monster. These $BRAINZ tokens are mainly used for altering the attributes of a Bit Monster, generating a “never-ending mint”, even though there will only be the 6666 amount of Bit Monsters in general.

The story about the 6666 Bit Monsters

The story about the 6666 Bit Monsters
source: bitmonsters.io

In 6666, the whole planet was on the brink of extinction. Atomic war is expected as tensions between two global powers spill over. The Halloween sky is filled with the glow from the first bombs, while survivors of the initial blast are disfigured in their costumes.

Humanity is lost, so Bit Monsters arrive, risen from the ashes, in the form of evolution’s following derivative.

What makes these monsters so unique?

  • Every Bit Monster provides $BRAINZ tokens.
  • They are generated and stored 100% on the Ethereum blockchain.
  • $BRAINZ tokens are mainly used to elapse all or specific traits of any Bit Monsters that you possess.
  • Potentially mutating traits from one Bit Monster to another is also what $BRAINZ tokens are able to do.
  • These tokens are also used for renaming your Bit Monster.
  • There’s a chance at an animated on-chain NFT.

Utility token $BRAINZ – all you need to know

For all enthusiasts eager to learn more about the Bit Monsters NFT project should know the essentials of $BRAINZ. It represents a utility token that’s yielded by all Bit Monsters. The BRAINZ token will be used within the ecosystem of Bit Monsters and will have a wide variety of uses.

Remember, $BRAINZ doesn’t have real-world value. It only has value when it comes to Bit Monsters NFT. So, 1 $BRAINZ = 1 $BRAINZ.

Generation rates of $BRAINZ

Essentially, all Bit Monsters generate $BRAINZ at various rates. They start with the genesis trait and, on a daily basis, yield a base amount of 2 $BRAINZ. If you’re eager to get the Superyield trait, you should know that you’ve got only a 1% chance.

When it comes to the Superyield trait, your Bit Monster will generate one more token per day. On the other hand, Legendaries will generate 4 $BRAINZ on a daily basis. They can also get the superyield trait for a max total of $5 BRAINZ daily.

Mutation – explained

Mutation means that you’re allowed to get a chance to transfer a trait from one of your monsters to another. The chance of a successful mutation is able to be found with the following formula: $BRAINZ / ($BRAINZ + 3), while there’s a 33% chance of losing the trait from your original Bit Monster.

Remember that each additional $BRAINZ spend a higher chance of success. However, it doesn’t mean you’ll have a 100% chance. There’s no limit to the amount of $BRAINZ you’re able to spend on mutation. The only rule is that you must spend at least 1 $BRAINZ.

In case mutation goes as planned, the recipient Bit Monster will likely lose its genesis attribute if it possesses it in the first place. There’s a flat ⅓ chance of burning the donor attribute. In this case, the donor loses its genesis attribute, and the mutated attribute will be replaced with its “none” value. Keep in mind that a background colour mutation will never burn its donor. That is because there is no “None” background photo.

Attributes of Bit Monsters

monster
Source: Twitter.com

Every Bit Monster includes quite different attributes from other examples of Bit Monsters. It’s essential to understand that these monsters are not 100% guaranteed to be unique. It’s nearly impossible for two Bit Monsters to have the exact attributes.

Keep in mind that nine of 6666 Bit Monsters are legendary. It means that nine of them will miss some of the below attributes. The following changes apply to any rerolls and minting:

  • Background color: Even though Bit Monsters have it, they do not include them in their image. It is only used moments before OpenSea loads the image.
  • Outfit
  • Hand Accessory
  • Mouth
  • Eyes
  • Head Accessory
  • Dominant: This gene isn’t visible in the first-generation image of Bit Monster. However, it’s used for breeding in a future update.
  • Recessive: It goes the same as the Dominant gene.

Super Yield

An example of Super Yield Bit Monster generates one additional $BRAINZ on a daily basis. For a usual Bit Monster to mint with this attribute, there’s a 1% chance. In order for the legendary Bit Monster to mint with it, there’s a 25% chance.

Legendary

Keep in mind that Legendary Bit Monsters are known as custom one-of-a-kind Bit Monsters drawn from scratch instead of composed of sprites such as usual Bit Monsters NFT. Every legendary Bit Monster NFT will be minted one time and only ever.

Here are some of the available legendaries that have an equal chance of appearing in any possible mint:

  • Hippie
  • Joker
  • Astronaut
  • Prisoner
  • Devil
  • Ghost
  • Squid Game
  • Where’s Waldo?
  • Hazmat

Minting 6666 Bit Monsters

Monster nft
Source: Twitter.com

If you’d like to know more about minting the famous Bit Monsters NFT, there are certain things you need to remember first. Once the contract is initially deployed, no one is allowed to mint. The contract’s creator will then explicitly whitelist minting and public minting.

All whitelisted addresses are able to mint up to 6 Bit Monsters total during the whitelist mint. On the other hand, during the public mint, each of these addresses is able to mint an unlimited amount of Bit Monsters. However, only 6 in one transaction is possible.

When every 6666 Bit Monsters is minted, no one would be able to mint them anymore.

Legendary Bit Monsters Minting

Getting yourself a legendary Bit Monster on any possible mint is the chance that a random inclusive number from 1 to 6665 total minted (90 − specials minted × 10) is less than or equal to 6666 − total minted/666.

According to this information, it ensures four properties about the legendary selections. Here are them:

  • The legendary mints are unpredictable.
  • All legendary mints are not stored in the contract since someone is able to inspect the contract memory to reveal this.
  • Every mint includes a decent chance of minting a legendary
  • All legendaries are 100% guaranteed to be minted.

Bit Monsters NFT Statistics

  • NFTs sold: 1
  • Trading volume: $2
  • Average price: $2
  • Total supply: 6,667
  • Owners: 2.007
  • Top Seller: Bit Monster #2907 sold for $2.9 on 2022-05-05
  • The number of Bit Monsters sold in the last 30 days: six.

What is an NFT?

Source: billboard.com

What, no doubt, many people are interested in regarding this Bit Monster NFT is why should they be bought? Why do people buy them at all?

To understand this, you must understand what NFT represents in the world of digital art. First, NFT is an irreplaceable data unit stored on a distributive ledger, Blockchain technology. It’s pretty different from Bitcoin and other cryptos because they are fungible, while NFTs are non-fungible.

NFTs could be anything from photos, audio, gifs, memes, tweets, articles, etc. So, in other words, NFTs refer to financial security data. The ownership of NFT is stored on a Blockchain and is able to be transferred by the owner, allowing NFTs to be traded or sold.

Remember, the market value of an NFT is associated with the digital file it references. What NFTs provide is proof of ownership and a public certificate of authenticity.

Why do people buy these tokens?

Although there is no universal reason why the Bit Monsters collection is tempting to crypto enthusiasts, what most often leads them to invest in that NFT and, in general, is a love of collecting, digital art, and certain digital artists. By buying someone’s NFT, you support a particular artist in many ways.

There are no middlemen or agents who would typically take a commission from every example sold. As a passionate fan of the BIT Monster collection or some other NFT, you are able to buy it directly from the creators.

What is also important to know, because it can be the main reason many people invest in NFT, is the bright future expected with these tokens. According to Google trends data, during August 2021, the global interest for non-fungible tokens rose by 246%.

Experts in this industry stated that this trend would continue, with a handful of artists and content creators and world stars, influencers, and athletes who will present their NFTs to the world and thus attract their fans to buy them directly from them. That way, they will be the owners of something unique and personal.

  • Support

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  • Trading Instrument

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