ReadON is a Web3 content aggregator that aims to collect and integrate articles with excellent content. They manage to combine social portraits of users, boost the content they are interested in and at the same time, grant NFT copyright to the authors.
ReadONis a Web3 content aggregator and its goal is to collect and integrate articles of excellence in this new Internet. Also, they manage to combine the social portraits of users, boost the content that interests them and at the same time, seeks to grant NFT copyrights to the authors of the articles.
Then, it tries to promote commercially and earn profits after gaining volume of users. Now, they confirmed that during the beta phase of the application, users will be able to earn “points” as a reward for reading and interacting through daily logs, tasks and achievements.
In addition, the points earning system is designed to incentivize reliable user behavior and article readings among users.
¿What is ReadON Beta Box?
ReadON Beta Box or also known as RBB, is a new tool of the ReadON project for its users to get rewards during the beta phase of the application with the option to redeem points.
This new tool has three verticals: Catto Parts, Shoppings Carts and the $READ token.
By opening the box, users will be able to collect a set of parts in NFT format and then use them in the system to convert them into a new Catto NFT for free within the application.
It is worth clarifying that this system will only be available to beta users with a limited number of RBBs. This is due to its free minting feature. Also, ReadON users can redeem one RBB for 6000 points in the application, while the total amount of RBBs will be limited.
ReadON Beta Box user interface
¿Why did ReadON launch this Beta Box?
ReadON launched this new tool, as the original design of the application’s tokenomics includes a full lifecycle for its $READ governance tokens. This is based on multiple functions such as content creation, curation and consumption.
However, from the platform they confirmed that it will take time to build the product and grow the community, that is why the value of $READ tokens can be very volatile for both investors and early adopters of the application.
Accordingly, ReadON Beta Box and the “points” system has been created for two main purposes which are:
A unique form of reward for early adopters within the beta platform.
The non-negotiable points and the negotiable NFTs together will form a dynamic and healthy environment for the initial ReadON phase.
ReadON Beta Box Awards
Each RBB may contain at least three awards from a fixed probability group, which are as follows:
Catto PartsDepending on the rarity, the cards are divided into blue for three-star parts and yellow for four-star parts.
This is one of the main reward prizes, as there are 10 types of parts corresponding to 10 types of NFT Catto traits. Each of them contains tens or hundreds of variations in their parts.
Shopping cartsBy themselves, Catto NFT parts are not interchangeable, but shopping carts will allow users to sell a given Catto part either on the application’s internal marketplace or also by creating an NFT and trading it on any NFT marketplace afterwards.
$READ token coupons
These coupons will be redeemable for $READ tokens after your TGE or Token Generation Event. There will also be an NFT reward for alpha test winners.
The types of awards mentioned above
¿How to mint a Catto NFT?
The Catto NFT as mentioned above will have 10 different types of parts, including 8 required parts (body, outfit, expression, glasses, theme, head, tail and background) and 2 optional parts (tail decoration and frame).
Also, users will be able to create their own Catto NFT using the forging system that is integrated into the application by combining the 8 required and 2 optional parts.
The features of the coined NFT will match the parts used, thus giving the creator the possibility to adapt the features of the NFT to his preferences.
A Catto NFT with your features
Trading mechanism
Prizes earned from RBBs can be exchanged within the market function in the application.
There will be negotiable and non-negotiable items, let’s review what they are:
Non-negotiable: ReadON Beta Boxes, Catto Parts, Shopping Carts.
Negotiable: Catto NFTs, Catto parts in shopping cart and $READ coupons.
Finally, the ReadON team announced that the forging system and marketplace will be launched soon.
All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.