Red Fox Games added a 90-day staking mechanism to their digital collectibles KOGs, which will allow users to earn rewards. Users will need a complete set of collectibles, before they can claim their rewards. As a reward for staking their set, users earn RFOX tokens.
KOGs come in four differenties rarities: ultra rare, rare, uncommon and common. Multiple KOGs from the same rarity group are called a set. In addition a set could be the same KOG with different borders, which they refer to as a Rainbow Set.
The staking mechanism rewards users that lock away their set for 90 days or more. The more users will stake, the more they will earn. An ultra rare superset earns users 30 dollars at the end of the staking period, while a common rainbow set will bring in approximately $1.50 in RFOX tokens.
Staking NFTs on the rise
Staking NFTs is something that’s becoming increasingly popular in the world of blockchain gaming and decentralized finance. It start in August last year when MEME introduced their first staking mechanism for NFT farming. Nowadays we see it all over the place.
On the WAX blockchain R-planet allows collectors and users to earn AETHER tokens by staking their NFTs from different products. It’s a type of interoperability that’s interesting from a marketing perspective. On Polyient Games something similar is happening. At the same time The Sandbox and the REVV ecosystem are rewarding users who’re staking their liquidity tokens to earn NFTs. All this is a symbol that decentralized finance and non-fungible tokens are a match made in heaven.
What about that KOGs game?
Red Fox Games is still working on a game for KOGs. The production is currently in closed beta. They’ve named it KOGs: Slam!, and the game will come to mobile devices later this year. Testing currently takes place on mobile devices.
According to earlier communication from the team, the mobile game taps into the old playground game with KOGs. Each player adds 20 KOGs to make a stack of 40. The first player slams their KOG on top, and earns points for each KOG that falls off. The second player then adds 10, and does the same. The cycle continuous for three rounds, and ultimately the person who has collected the most KOGs wins.
Red Fox Games has launched two series for their KOGs collectibles so far. Rare promo KOGs, like RFOX2020, are currently listed for thousands of dollars on the Atomic Marketplace. Sealed packs start at a price of 37 dollars, while a sealed Rainbox Set tube costs 44 dollars.
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