Bulb NFTs: The next Big Thing?

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9 Apr 2024

Bulb NFTs: Real Utility (+ $BULB prizes!)

There's two pillars on which the Bulb economy sits.
The first is the $BULB token. It underpins both the revenue and cost structures of pretty much everything (but not EVERYTHING, as we'll see) on Bulb.

The second pillar are the NFTs. This part is less developed than the token part but it's only going to grow in importance over time. Ownership matters in web3 and especially this is the case in web3 social media as the lack of ownership is pretty much everyone's biggest gripe with web2 social media.

Let's dive into the different NFTs currently on Bulb today, how they work, and how you can leverage them.
Plus you'll have the chance to win some $BULB at the end!

BULBmoji

Bulbmoji are these guys that sit at the bottom of every post and comment.

Post

Comment

I'll directly quote from the Bulb Whitepaper here to explain at a high level what they do

A BULBmoji NFT is a special type of BULBmoji that allows users to earn more points and/or use less energy when they activate it. Owning and using a BULBmoji NFT will increase the number of BULB Tokens you earn on the platform, as more points lead to more BULB Tokens. There are 5 classes of BULBmoji NFTs, and essentially, your everyday action buttons - such as writing, reading, reacting, commenting, sharing, and moderating - are turned into tokenized buttons to boost your token rewards for the same activities.

https://www.bulbapp.io/whitepaper

The whitepaper goes into detail about how the economics work and undefinedundefined have written articles about them (see below).
I won't go into anymore details here as these cover off the mechanics way better than I could. I strongly recommend taking the time to read these; it's well worth your time.

How do BULBmoji work in practice?

Go to your profile and select BULBmoji

On the select screen you can enable your BULBmoji. There's 7 possible types so you'll need to select for the ones you need at that time.

NOTE: Bulb will be upgrading the slots from 3 to 7 very soon so there'll be no need for switching. See https://www.bulbapp.io/p/01b0ce93-820f-4d27-8341-2aeea1a91eb0/month-in-review-february-2024?s_id=bd5556be-8748-4d26-896f-0ab850599ecb

Now when you go to an article or comment you'll see the BULBmoji types you've selected for enabled and when you hover over the image it'll show you the boosts that have been applied.

With BULBmoji applied

Without BULBmoji applied

The boosts will depend on two things

the rarity (static)
level (able to upgraded)

The more you use your BULBmojis, the more powerful they get.

You'll need to pay $BULB for each level upgrade, but in return you'll be able to earn more $BULB forever more with that BULBmoji.
It will also increase it's value on the Marketplace where you can trade them for $SOL

https://www.bulbapp.io/collections/bulbmoji

Boosted staking rewards

If all the above wasn't enough the newly released BULB staking feature gives you boosts for your BULBmoji. And the more you've levelled, the more that's worth.
https://www.bulbapp.io/bulb-token

Article NFTs

I'll defer again to the Bulb Whitepaper for an overview of what Article NFTs are

BULB Article NFTs are created when a published blog is minted on the Solana blockchain, in which the Article NFT holder will be the sole beneficiary of all the BULB points derived from the particular published blog. Therefore, as an Article NFT holder, you can benefit from the engagement and traffic generated from the blog, thereby boosting your own leaderboard position and BULB Token rewards.

https://www.bulbapp.io/whitepaper

The idea of minting an article as an NFT isn't new. It was pioneered by web3 blogging OG Mirror back in 2022.
https://dev.mirror.xyz/5gt60vKFJZ_tR1BjoJ7-Y0sNw7REebStHjzFU5x73J0

And some DRiP creators have experimented with the article-as-an-NFT idea
https://drip.haus/showcase/collectible/drip-season-2-echo1-ai-legendary-4dd159ae

Bulb is taking an expansive approach to article NFTs.
For the full details on how they work check out the whitepaper (linked above) and the launch post from undefinedundefined

https://www.bulbapp.io/p/9bd64f84-c633-4b50-ab33-bcb56d0532eb/all-you-need-to-know-about-article-nfts?s_id=42b7f225-be31-4001-bae6-226dc508a32c

My favourite article NFT features
For me the two biggest unlocks from the Article NFTs is firstly being able to identify paying and engaged users out of your audience via them holding your article NFTs.
So many crypto wallets are either bots or part of sweatshops farming airdrops and they aren't valuable in terms of growing the space. Being able to identify users who are willing and able to purchase items on chain is super useful when trying to gauge the value of your audience.

Secondly is the ability to mint these NFT and include a points bonus for holders. That's a nice little thank you to the buyers.

Thirdly I like how you can set a royalty fee for your NFTs. Because these are very small collections (max. of 10 at present) you'll not really see a heap of revenue from the initial sale of them, but if you can create a reason for them to be traded then that could be much more profitable for you longer term.

But why not in $BULB?

At first glance it seems strange why BULBmoji or Article NFTs aren't traded in $BULB itself. After all it is the token of the platform and plenty of the interactions with both NFT types involved $BULB either directly (upgrading BULBmoji) or indirectly (points boosts and rewards).

But on closer inspection it's actually a pretty good idea and piece of design.

The Solana ecosystem, at it's core, is underpinned by the $SOL token. Having both $BULB and $SOL directly interacting with the Bulb economy provides a nice balance.

At the end of the day, whilst it's important to the economy on Bulb now, $BULB is a limited supply and liquidity token on Solana. Even with greater adoption it will never have the deep liquidity that a token like $SOL has. Tying too much of the platform to the fate of this token isn't a great idea in terms of longevity or flexibility.

Okay okay... what about letting me win some $BULB?

Righto.. cool your jets turbo. I have what you need.
undefinedundefined and I are running some Bulb NFT themed contests on Zealy. It's a chance to pick up some nice $BULB prizes AND help grow the platform for everyone at the same time.

BULBmoji meme takeover

We want to see these little guys all over X. Memes, fan art, homages, remixes, etc.. it’s all fair game. Enter as many times as you like.
20 prizes of 1K $BULB

Explore Bulb NFT use cases

Write a thread on X that explains how Bulb uses NFTs and explore some interesting use cases for them as creators. Can be BULBmoji and/or Article NFTs.
5 prizes of 2K $BULB

Find more details and enter at https://zealy.io/cw/bulbcommunityrush/invite/EuJmqhJLx_S0yIZUJefx9

Good luck y'all!
Cryptocurrencies
BULB Token
BULBmoji NFT