– Today I’m covering anew node-like project, that I think is goingto make quite the hum in the DeFi space. And it’s not every dayI come across a project, where I plan on investingin it pre-launch, let alone when thereisn’t even a white paper. And that activity we’regoing to be looking at today is the Hive Network. Is Hive really the sugar loophole offering investors a chancefor life-changing money? or is it another defi bust? And that’s the issues to I’m going to be attemptingto answer today. So by the end of the video, you should know if it’s right for you. Let’s dive in( soft music) What’s up guys. My name is Kris, and on this channel. I cover different ways I’m making passive income online. And today we are talkingabout the Hive Network. Hive is a DaaS, or aDeFi-as-a-service project. And it’s launching on MATIC blockchain on the 15 th of March, this month.This opening will includethe native Hive token, which overheads $100. And formerly you are buying 10 Hive, you can then min one of the 40,000 NFTs. And then you can earn daily income. Now, before we go too deep, down the beeHive, so to speak, if you are able take your button, and pollinate the like button for me, it would really help the video out. And while you’re down there, go ahead and check outsome of my other playlists on how you can make money online. Now, Hive has over 20 benefactors. And if you’re familiarwith the Thor project, you’ll recognize one of them. His name is Colin, formally known as lowkey, a moderator from the Thor node project. And all of these membershave been completely KYC’ed by Assured Defi, a company that has hundredsof KYCs under their belt. And Colin has completely doxxed himself. And on top of that, they’re going to have additional contract and security investigations, to try and combat thosetransparency and trust issues that all brand-new crypto projections face.And I think this is a stepin the right direction. However, KYCing doesnot guarantee a carpeting pulling will not happen. We encountered a carpeting pull scenario won’t happen with Time WonderLand, wherethere were a few members of the Time WonderLandteam that were doxxed. All this does, it really abridges thechance of this happening. Now let’s get into thetokenomics of the Hive Network. On March 15 th, you’llbe able to buy 10 honey to mint one NFT, and one sugar is $100. There are currently 40,000 NFTs available. And one NFT will earnyou 0.05 sugar per period, which will be$ 5 per dayat the $100 open price.So if you do plan on buying this project you require MATIC in your Metamask wallet, and then you’ll be ableto buy the honey token on SushiSwap. So once you have theNFT, you then deserve sugar. And this is similar to other NFT projects that I’ve talked about in other videos, whatever it is you then have that NFT, and then you can stake it to earn income. However, unlike the other node projects that I’ve talked about before, that incentivize investorswith extremely high remunerations that are not sustainable, that they’ll have to diminish out over time, they’re actually takingthe opposite approach here.So what they’re doing is, they’re starting with lowerrewards that are sustainable, so they never have to cut wages. And this is similar to the old proverb of, “Under promise, and over deliver.” And too unlike the other projects that I’ve talked about before, where you then have topay a price for that node, that you’ll never ensure again, you can withdraw your original financing, by then selling your NFTon their NFT marketplace called Hexagon. And they also set forth in an AMA, which I’ll leave it downin the description below on how the thousand dollarsprice point for this is a premium type NFT project.And it’s to prevent the paraphrase unquote moon boys from joining. However, if you do nothave $1,000 in your budget they do have ways forpeople with smaller budgets to enter the ecosystem, which have not been announced more. This means you’re goingto need at least $ 1,000, if you want to mint an NFT. And there’s going tobe three types of NFTs that you’ll have the chance to mint: There’s a Guardian, which youhave a 1.5 luck of minting, which will deserve you 0.1 sugar per epoch, or 10 USD.And lastly, there’s the Queen, which you have a half a percent, or a 0.5% probability of minting, which will pay you 0.2 sugar per daylight, or 20 USD. This represents yearly, accepting the price of honeystays the same at $100, you’ll earn $1,825 for aWorker, $3,650 for a Guardian, and then $ 7,300 per year for a Queen bee. It’s also worth noting that every 8,000 NFTs that sell, the rate to mint an NFTgoes up by a half a honey.This means that thelast 8,000 NFTs to mint will cost 12 sugar. And you can buy an NFTon the open marketplace once they’re all minted, but you’ll have to pay a 7.5% royalty. And those royalties will goback into the reward pool. And it’s also worth noting that if you want to sellyour honey at any time you’re going to be charged a 15% excise. And I considered that these taxeson these types of projects are a double hem sword. On one mitt, it keepstokens in the project, and it incentivizes investors not to sell. On the other hand, it kind ofgoes against the entire reason crypto and DeFi was made altogether, And that is for low deal costs, and to get rid of the middleman. So I don’t really knowhow I feel about this. And despite not havingits white paper yet, it’s been selling its queen bees anywhere from 45 to $90,000, depending on the amountof money daily it meets. This means that if the averageprice of all 20 that sell are $60,000, they’ll have about $1.2 million for startup funds to get the project going.Now, something that I thinkis really interesting here is the fact that someonebought a Queen for $60,000, at 0.8 sugar per period. That’s how much it produces. And that turns out tobe about $ 80 per day, based on the launchprice of the honey token. However, they couldhave just bought 16 NFTs to get that same 0.8 honey per daylight. And what this tells me isthat $16,000, or 16 NFTs, they’re bet on this project to go up. And this is the same for all 20 Queen NFTs that are being sold. And this tells me that theyreally believe in the project. And I think tokenomics is a great factor to look at projects. But it’s also importantto have a great society behind the project itself. And this project has 28,000 adherents on Twitter. So the hype is real on this one guys. Now the Discord launches on March 5th. And the only way to getwhitelisted for this project is to actually be active in the Discord. And they’re giving away2 50 whitelist places. – The people who getwhitelist are random beings within our community whocontribute and do something cool.That’s everything from art, to being really helpful in specific comments, to being really positivewith other community members. There’s many different waysthat you can get a whitelist, but that’s all being done arbitrarily. – What a lily-white roll distinguish ensure that there is is why you get thelaunch price for a honey, so that you actually get in at that a hundred dollar expenditure time, in case it spikes upward, and then you have topay more for your NFT.Another thing to knowabout the white list distinguishes, is that they’re capping it at $5,000. So that means that a whitelist discern, you’ll not be able tobuy more than five NFTs. – And the grey roll is extremely limited. And it’s precisely for our community. – Now that we know thegoals of the project and the exact to utility, and how we’ll make money if we do acquire one of these NFTs, what’s the actual utilitybeing offered here? Per Collin in the AMA, “It’s to raise moreindividuals into MATIC network, “and to drive on chainutility into this ecosystem.” But the fullest extent of that utilityis still hitherto to be addressed.One thing they did mention though, is there’s going to be an NFTmarketplace called Hexagon. and they’ll be generatingtransactional revenue on that marketplace. And that will be a large part of their entire ecosystem, and how they plan ondriving, sustaining increment to the reward incumbents. If you realise my video, where I talk about Strong and Thor, and all of those node projects, and how they’re allfighting an uphill battle, based on no cover on the nodes, and then an unreasonable sum of rewards that are being given out, which will be enhanced the sell pressure on that project in the future.This activity actually addressesthose two main concerns, and it does it by cappingthe number of NFTs at 40,000. They likewise say that they will increase theamount of NFTs if need be, only if the actual network requires it. And I think that’s great that weave that flexible in there, and likewise the fact that they’re startingthe reinforces off so low-grade. I like the fact thatit’s five dollars a day, on a thousand dollar investment. That represents my break even on this project will be right around 200 dates. And if you retain from thatvideo, I solely said, “I’m looking for projects that have that “six, seven, eight month break even era, “not two, three, four months. “That’s just not sustainable.” I do belief got a couple of thecons with this project though is that we’re betting on the fact that they can create utility. And I think it’s just going to depend on how that actually goes to driving an actual projectthat will last years to come. And I want to hear more in the next AMA about their NFT marketplace, and how in on standing out against all of the other NFT marketplaces that are out there, because it’s an extremelycompetitive place.And to just say you’re goingto make an NFT marketplace and is to be effective, I think is a big ask. So that’s something Iwant to know more about. and we need to realize that all of these projects areextremely dependent on Bitcoin. So yes, we can withdrawour original speculation. But if Bitcoin down, our original investment isgoing to drastically decline. And if Bitcoin does croak below $29,000, it is possible that we willenter a penetrating bear market. And bear market are whereeven huge projections can die. And the graveyard of cryptosfrom the past bull moves, is incessant. My own personal approach with all of these types of projects, is to have a certain amount of funds designated for smallcap, high risk assignments. And I only spread a littlebit of monies everywhere, in hopes that one will work out. And I do considered that manyof us in the community know that these types ofprojects, Strong, Thor, all of these types of nodes, that hope high-pitched remunerations, are not likely to succeed. But at the end of the working day, it simply makes one tomake life-changing money.And people, if you did like this video, consider subscribing for newvideos every single week. Check out my playlist down below. You’d be surprised at howfar one video a day can go. Thanks people for watching. Stay safe out here, andI’ll told you next time ..
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