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.
(DIAMOND) 1. What are NFT credits?
NFT credits are a type of digital currency, similar to what are called utility tokens. With utility tokens, between companies the benefits will, of course, vary. But for our project the goal with NFT credits is to primarily provide our holders with utility in the ecosystem we’re building; that is, give you access to extra perks that go beyond your avatar or portrait alone.
Essentially, Habbo NFT credits will simultaneously fuel our ecosystem while rewarding you for your loyalty to the project, and that seems like a pretty good deal to me!
It should be noted that while NFT credits are not ERC-20 tokens, they can still be traded because they are ERC-721 tokens.
(DIAMOND) 2. How do I get them?
So, you might be wondering how to start accumulating these credits. First of all, you need to own a Habbo Avatar OR Habbo Portrait (yes, portraits also accumulate credits!) Then, the only thing you need to do is delist your avatar or portrait from OpenSea, then sit back, relax, and watch your NFT credit balance grow.
The 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 24h time window. The amount your NFTs accumulate will be shown when you use your Metamask wallet to log into the new NFT credits section of our website.
You accumulate NFT credits based on the number and effect/background of Habbo Avatars and Portraits you have in your connected Metamask wallet.
(DIAMOND) 3. How many NFT credits do I get every day?
Each avatar you own (that hasn’t been listed on OpenSea during that day) will accumulate 10 NFT credits per day, while a portrait will get you 5 credits. Additionally, if you happen to be a lucky holder of any rarer effects and/or backgrounds you will get additional credits. These bonuses are listed below:
Avatar bonuses:
- Grey (Basic H): +0 credits
- Yellow (Golden H), Turquoise (Diamond H): +1 credits
- Pink (Rainbow H), Blue (Trippy H): +2 credits
- Purple (Ultra Trippy H): +3 credits
Portrait bonuses:
- Basic, Jasper: +0 credits
- Coral, Amethyst, Emerald: +1 credits
- Rose Quartz, Moon Stone, Jade: +2 credits
- Amber, Ruby: +3 credits
Here’s an example of some different avatars and portraits and how many NFT credits they’ll accumulate for you on a daily basis:
The rarer the effect or background your NFT has, the more NFT credits you get per day.
Three important points about NFT credit accumulation:
1. You’ve been accumulating credits from your unlisted portraits and avatars since Feb 7th! We did tell you to delist your avatars and portraits.
2. We will release a maximum of 137,845 NFT credits per day. (This is only possible if no avatar or portrait is listed.)
3. We may modify the credit accumulation in the future and we may add additional NFTs that will accumulate these credits.
(DIAMOND) 4. What is NFT credit furni?
On launch, you will be able to convert your NFT credits into what we’ve called ‘NFT credit furni’. (Habbo already has credit furni, and NFT credits / credit furni follow the same concept. Read about regular Habbo credit furni here.)
NFT credit furni is minted as ERC-721 tokens to Immutable X, a layer 2 NFT marketplace. You’ll be able to mint NFTs that correspond to 10, 50, 100, 500 or 1000 credits (see image above).
If you own NFT credit furni or get it from Immutable X, you’ll be able to ‘burn’ it and change it back into NFT credits on our website by clicking the ‘Exchange’ button (see image below).
It can take up to an hour for credits from exchanged NFT credit furni to show in your balance.
Then, if you’d prefer to keep your NFT credit furni closer to home then fear not: Eventually there will be the option to display them in your room in the Hotel!
(DIAMOND) 5. What else will I be able to do with NFT credits?
We have plenty of ideas — some of which are definitely happening and are scheduled to happen within the next few months, and some of which are still ideas that will hopefully happen this year:
1. NFT merging/crafting: We’re planning to make it possible to ‘merge’, or craft NFTs on our website in Q1 or Q2 this year. The idea will be that you ‘burn’ a certain amount of a common NFT to get the another, rarer version, then you burn a certain amount of those to get the next one, and so on. The plan is that this will all be done on our website (this will NOT be in-game crafting). To launch this feature, we want to run a massive crafting event in which anyone who wants one will be given a free NFT! This does really mean anyone. While I can’t reveal what the NFT actually is (but I do know what it is and it’s very cool), I can share that for this event, eligible Habbos will be given a rare NFT, and holders an even rarer one.
2. Exclusive NFT items: Within Q2, we also plan to release NFT items that you’ll only be able to mint with NFT credits. These exclusive items, again, are to bring utility to you, the holders. And this is exactly what I love about Habbo — it’s always been about starting from the bottom and working your way to the top, building the universe you’ve always dreamt of!
3. Mint existing Habbo items from your inventory as NFTs: We’re SO excited about this idea — it would be an amazing use of NFT credits and a big credit sink for the Habbo NFT ecosystem. Imagine gaining real, tangible ownership of some of your rarest Habbo items! This is a more long term idea, and we’re not yet sure when it’d happen.
4. Trait editing: This is by far my favourite future credit utility prospect! The team have been playing with the idea of letting you change your avatar’s looks. Hate those pants? You can change them to something else! Before you start panicking about rarities, if we did this, it would be quite limited as we want to ensure every single avatar is something that the owner can be proud of and use in Habbo. At the moment this is still just an idea — maybe we could hold a vote to see if you want to have this or not! This is probably something for Q3 or Q4.
5. Habbo Avatars Gen 2 and breeding: When we do a separate, NFT-based hotel, we’ll be looking at the possibility of increasing the number of avatars available. Without going too deep into the design details of the Gen 2 (Genesis holders need not to worry, Gen 2 will not be as “powerful” as Genesis) one way of getting these Gen 2 Avatars could be with NFT credits. This is something we’d look to do in Q3 or Q4.
6. NFT Hotel: With the separate hotel based on NFTs, the backbone of the economy would most likely be some sort of token. Whether we use NFT credits as the currency for the new hotel, or if we use an ERC-20 token is still up in the air. The option of converting or swapping your NFT credits to the token will most likely be a given.
7. Anything else? There are plenty of things we’re thinking of experimenting with. Buying whitelists for future partner projects, providing additional perks in the live hotels, and much more. If you have ideas on how you would like to utilise your credits, let us know in our Discord feedback channel!