NFT FAQ: How Important is Pricing in NFTs?

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“When it comes to pricing, we focus more on giving value instead of focusing more on (the) price.” – JockyGelo, Bored Punks of Society Lead Director 

Gelo (Jockygelo) and Alexis (Melon Babe) of the non-fungible token (NFT) collection Bored Punks of Society (BPOS) discussed the criterias they considered when pricing their collection during the last episode of the Bitpinas’ Webcast for Arts Month. Arts Month was an event hosted by BitPinas that featured 10 NFT artists for the whole month of February.

“It’s the experience not (just) the NFT…” – Melon Babe, BPOS Art Director

According to them, the developers of BPOS always aim to give value to their NFTs and to its holders, not just on the price fluctuations brought by famous supporters or partnerships.

“We want to make you feel that you are a part of the Bored Punks Society. Kahit anong mangyari sa price, bumaba man o tumaas, gusto namin na-e-enjoy mo yung Bored Punks Society NFT na meron ka,” Gelo added.

Gelo noted that they focus more on giving their NFTs utility, such as getting more partnerships outside the digital platform where their holders could enjoy real world discounts and perks.

“The main idea is we want our holders to experience Bored Punks anywhere, that’s why we are open to all people to have partnerships—even businesses ng holders namin—we are very open to discounts. Kasi, we realize na we don’t want our NFT to be just about trading,” Alexis explained.

She also disclosed that following their BPOS NFTs getting sold out, their team released membership cards that their holders could use to avail the perks from their physical partner merchants.

Bored Punks of Society, according to their website, is a “premier Filipino NFT social club paving the way for crypto and NFT adoption, bringing awareness to our grand vision on educating and onboarding people, and bridging the gap to financial literacy in the Philippines.”

It is the first Philippine-based NFT collection to be sold out with a total of more than 7,600 NFTs, with 18,000+ community members and 75+ partnerships and affiliations nationwide.

One of the latest exclusive partners of BPOS is the Philippine-based cryptocurrency exchange Philippine Digital Asset Exchange (PDAX) which offered 100 pesos-worth of cryptocurrency upon sign-up in the exchange that BPOS holders could use to kickstart their crypto journey. The BPOS holders will also have early access and an exclusive access to closed beta testing. (Read more: PDAX Partners with NFT Bored Punks of Society)

Moreover, one of the latest well-known persons to have a BPOS NFT are Miss Earth Philippines 2020 Roxie Baeyensthat and Play-to-earn Axie Infinity’s Program Lead, Esports and Content Creator Andrew Campbell.

This article is published on BitPinas: NFT FAQ: How Important is Pricing in NFTs?

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