It’s rewarding to be a member
NFT4Play is a Play2Earn gaming platform that enables players to collect and trade NFT cards and then play and bet against each other in tournaments for prizes.
The first step in your NFT4Play journey is to become a member. In order to become a member you need to deposit at least $25 into the membership pool. When you no longer wish to be a member you simply withdraw your entire deposit.
This article explains how to become a member; the benefits you get for being a member; and how to stop being a member. It will also help you determine what level of member you may wish to be.
TOP TIP: While the main aim of being a member is to play, there are many rewards which make membership worth it even if you do not play a single game.
Becoming a member and membership levels
In order to become a member you need to contribute at least $25 into the membership pool.
The amount you contribute will determine your level and rewards. This document will help you decide which membership level is right for you.
TOP TIP: even the lowest level of membership is rewarding and will enable you to participate fully on the platform
Membership levels and their rewards are:
Changing levels and ending membership
You are free to contribute more into the membership pool or take out whatever you have contributed at any time.
If a reward is determined by your level you will qualify for that level’s reward at the time the reward is determined, no matter how long you have been at that level.
TOP TIP: Adjust your contribution to the pool to receive the rewards you want. Your membership level does NOT impact game play.
If your contribution to the pool drops below $25 you will cease to be a member. Of course we will be sorry to see you go, but we understand that being a member on our platform is not for everyone.
Remember, there is a 7 day cooling off period on all withdrawals and the amount being withdrawn does not qualify for rewards during the cooling off period.
Medals are distributed to Members once a week. Once distributed you can claim your medal from the pool. Medals can be used to mint NFT playing cards which you can then use to play.
TOP TIP: If you are a Green member and wish to get Silver Medals, you can temporarily increase membership to Silver and get your medals before dropping back to Green.
To see more about medals read our Medium article Medals, NFT Playing Cards and Membership.
For every $1.00 you put into the Membership Pool you get an entry ticket to the Everyone-Must-Win Lottery. Hold onto your tickets as these must be returned to the pool when you reclaim your contribution from the pool.
The whitepaper on our website described the mechanism of the lottery in detail, but the key points when the lottery is drawn are:
- A single ticket will be drawn and the ticket holder will receive 10% of the prize pool.
- The remaining 90% is split between Green, Silver, Gold and VIP levels according to a formula and then each ticket for that level holder receives an equal split of the pool per ticket.
In this way, even a Green member can win a significant prize and everyone wins a prize depending on their level.
How we generate the reward pool for the lottery
Every time a new member contributes to the membership pool we deploy most of the contribution into a fixed return yield optimizer. The remainder is used as liquidity by our partner Sportingfunds Inc on sports betting using algorithm based betting strategies. The returns are then placed into the lottery pool. NFT4Play may also, at its discretion, boost returns using profits from the games.
TOP TIP: While there is risk, as the pool returns are determined by sports betting, the lottery prizes are bear market resilient as they do not rely significantly on crypto.