Habbo Avatars and Habbo Portrait holders will get NFT rewards
The team behind the Habbo Avatars and Habbo Portraits collections have announced that these NFTs will now reward owners with Habbo NFT Credits. Importantly, in order for holders to receive Habbo NFT Credits, they have to delist their NFTs from secondary markets like OpenSea.
The goal behind Habbo NFT Credits is to facilitate a wider ecosystem of functionalities for Habbo fans and collectors. Habbo NFT Credits are a type of digital currency, similar to utility tokens. These tokens will primarily provide holders access to extra perks that go beyond simply owning an Avatar or Portrait.
Essentially, credits will both fuel the Habbo ecosystem and reward collectors for their loyalty to the project. Additionally, these crypto tokens will play a big role in all future functionalities in the Habbo ecosystem.
How to get Habbo NFT Credits?
The first thing you need to do in order to claim Habbo NFT credits is own a Habbo NFT. The mints for both Habbo Avatars and Habbo Portraits have now been completed. However, both collections are available on secondary markets.
Once you have your Habbo NFT, it’s important that you delist it from any secondary marketplace. Credits are accumulated once per day at around midnight UTC by those avatars and portraits that are not listed and have not been listed during the previous 24 hour time window.
You can check the amount of credits your NFTs accumulate when you use your Metamask wallet to log into the new NFT credits section of the Habbo website. Importantly, each Habbo Avatar will grant 10 credits daily, while each Habbo Portrait will grant 5 credits every day. Importantly, the features and traits each NFT has might bring additional bonus credits to the holders.
What’s next for Habbo?
According to the official announcement, Habbo NFT Credits will serve as the foundation for a wide array of upcoming functionalities. Among these, the Habbo team has announced plans to introduce NFT merging and crafting. This will allow collectors to combine common NFTs and get rarer versions.
Additionally, the team is looking into allowing collectors to change the traits and properties of their collectibles in exchange for a fee in NFT Credits. This feature would allow collectors to alter the look of their NFT, for example, by changing their clothes, hair, or eye color.
Last but not least, the introduction of Habbo NFT Credits can also possibly have a positive impact on the valuation and floor price of Habbo NFTs. As holders are incentivized to delist their NFTs, the supply on secondary markets will be reduced, while demand will increase. This in turn is the perfect environment for a price increase. Of course, only time will tell whether the credits system will have this effect on the price of Habbo NFTs.
DappRadar will continue to monitor the Habbo NFT collections, and you can do that too on their official dapp page. There you’ll find information about an on-chain activity like sales, generated trading volume, and more. You can also follow DappRadar on Twitter, and join our Discord community to get the latest NFT news first.