Strive Case Studies

Famous Fox Federation, A Case Study:

The Famous Fox Federation is home to 7,777 randomly created NFTs on the Solana blockchain network, which started in September 2021 at a cost of one Solana token (SOL).

At first sight, Foxes appear to be simple aesthetically beautiful art pieces intended for use as a profile image on any social media platform. There is, however, much more to owning a fox than meets the eye.

An FFF NFT provides holders with access to a DAO (decentralized autonomous organization) whose members are invited to a variety of special events, such as:

• SOL raffles

• Airdrops

• Mints from NFT

• Community giveaways

• Exclusive channels (such as NFT alpha, gaming tournaments, raiding events, and so forth).

DAO members are also involved in shaping the project and determining its future direction. Users, for example, proposed and voted on organizations that would get a portion of FFF's 800 SOL contribution money; the community also voted on the name of FFF's utility coin.

The Famous Fox Federation (FFF) is a Solana NFT project that has revived the sector's interest in non-fungible tokens. FFF accomplished this by introducing a legally valid staking system. By adding staking, two collections, and a utility token, this project effectively cleared the way for the so-called 'blue-chip' status.

Famous Foxes is the first NFT collection that rose in value following the end of Solana's short bear market in early November, outperforming previously established blue-chip collections such as Solana Monkey Business and Degenerate Ape Academy.

Famous Token Market:

The Famous Token Marketplace (FTM) is not just a platform for buying and selling tokens, it is also a key component of the Famous Fox Federation's (FFF) utility ecosystem. By creating a marketplace for the community to trade tokens, FFF has created a valuable utility that can be leveraged by other NFT projects as well.

One of the main benefits of FTM is its low fees. With a 2% fee from the sales price, it is significantly lower than other popular NFT marketplaces like OpenSea and Rarible, which charge fees ranging from 2.5% to 5%. This makes FTM an attractive option for NFT creators and buyers alike.

Moreover, FTM is not just a private marketplace for Famous Foxes tokens. It is open to anyone who wants to sell their tokens, regardless of whether they are part of the FFF ecosystem or not. This means that other NFT projects can use FTM to sell their tokens, giving them access to the FFF community and potentially boosting their visibility and demand. The FTM also incentivizes NFT holders to stake their tokens. By staking at least one NFT, users can access the FTM for free, avoiding the 2% fee. This encourages users to hold onto their NFTs and become more involved in the FFF community, strengthening the project's ecosystem.

FFFlip is also a unique feature of the Famous Fox Federation that adds an element of excitement and entertainment to the ownership of FFF tokens. Users can flip their tokens in hopes of winning double the amount, making it a popular activity within the FFF community. With over ten Solana Program Library (SPL) tokens from various projects included in FFFlip, users have a variety of options to choose from when flipping their tokens.

FFFlip generates revenue for the FFF project, as there is a 3% fee charged for every flip, with half of it going to the treasury funds to cover project costs. This revenue stream not only helps to sustain the project but also incentivizes the FFF team to continue innovating and introducing new utilities and features for its users, generating revenue. FFFlip also creates a collaborative environment between FFF and other Solana-based projects by featuring their tokens in the game. This collaboration can lead to cross-promotion and exposure for the involved projects, ultimately benefiting the entire Solana ecosystem.

FTM and FFFlip are excellent examples of how utilities can create a thriving NFT ecosystem. By providing a low-fee marketplace open to all NFT projects, FFF and FFFlip have created platforms that not only benefit their own community but also the wider NFT space. As more and more projects recognize the value of utilities, we can expect to see more innovative platforms like these emerge, driving the next wave of growth in the NFT market.

Where do we come /conclusion of case study :

After reviewing the case study, it becomes apparent that any NFT project, such as XYZ, must make a significant investment in hiring and building a robust tech team to create the necessary infrastructure and establish an ecosystem. This is where we can provide assistance. Do you lack a tech team or find it challenging to manage a team of developers? Are you struggling to create your own ecosystem? Utilswap is here to help. With Utilswap, you can experiment with your ideas and establish an entire ecosystem of utilities with just a few clicks. Our platform allows you to create and establish the necessary infrastructure for your project. We are dedicated to helping you succeed in the world of NFTs.