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Hungry Pandas NFT Preview
Hungry Pandas is an upcoming NFT project launching on 07/31 at 8 pm UTC. It is a collection of 10,000 pandas priced at 0.03eth. But there is a kick…
Each panda mints unconfigured (only comes with a random fur). Each Panda can only be configured once and has close to 200 traits available to choose from. “A part of the items can be chosen by every panda, the rest requires your panda to have a certain Bamboo Level.”- from their Medium article.
What is Bamboo? “Each panda holds a certain amount of bamboo that is stored together with the NFT on the Ethereum blockchain.” You can only acquire bamboo at minting, 1 bamboo=0.0001eth. High levels of bamboo unlock special traits and rank you higher on the leaderboard. A twist to this is that every week, the amount of bamboo per trait will increase by 10%, incentivizing people to configure their Pandas early. After minting, there is only one way to acquire Bamboo, which is burning a Panda (300 bamboo plus the amount of bamboo the panda held)
That is basically the deflationary mechanic. Pandas will be burned for Bamboo so the total supply of Pandas decreases over time! An interesting aspect is that the community ultimately decides the rarity of traits as each minter will configure their panda. You will have a full commercial license for each panda as long as you own it.
The roadmap includes a giveaway of 25 pandas amongst the first 2,500 minters and a $50k donation to Action Against Hunger and a community wallet.
Overall this project looks interesting and may be worth a look. I am unsure if I am going to mint but I will be watching them during mint. One thing I was able to find out is that you cannot configure a duplicate panda. No duplicates allowed (you’ll get an error message). Either way, I hope you enjoyed this preview, lots more coming in the next few days. I do not get paid to do this and if I ever decide to be compensated either with NFTs or ETH, I will put a disclaimer. That is something I do not want to do … Anyways if you guys like my newsletter please subscribe and share!