APY or Rarity?
Polkacity has wide variety of assets but the community has been discussing the value of NFTs based on their Annual Percentage Yield (APY) only. However, there is another metric at least as important as the APY, which is how rare the NFT is. Rarity may even be more important once the marketplace is functional and the playable game comes out.
Rarity is what makes some metals more valuable than others. The most ductile metal is platinum, which may be stretched under pressure into thin wires without breaking. Gold is malleable and both platinum and gold are rare, and they have good properties, which makes them expensive. If astronauts find gold in asteroids and bring it all to Earth, gold would be a common metal, and no longer being rare, it will become a useful yet cheap metal. Bitcoin, on the other hand, is scarce and cannot be found anywhere in space, there are only 21 million bitcoins. By the same token, no pun intended, the rare NFTs of Polkacity cannot be found anywhere else, and APY or not, only official Polkacity NFTs can be used in the game. This makes the rare NFTs valuable by themselves.
Yes, a rare (no pun?) steak may be preferred by some because they like the taste, but rare NFTs are more valuable because they are harder to find or purchase. This aspect of rarity becomes highlighted in games, as the rare items are functional and used for their aesthetics values or game functionality. For example, you may like a rare shiny armor in your game for your character or you may use a rare sword in your game to battle. The same goes for the Polkacity platform. Once the game comes out, more people may prefer a rare NFT to use in the game, such as cruise around with a luxury car, or get on a chopper. Functional assets may suddenly become more valuable than their APYs suggest, or commission-based NFTs may make more money than their higher APY counterparts.
One thing to look for is to see how many units are sold before the rest of the NFT items are burned. If there aren’t a lot of the units that are sold then this item will be rarer than the others. Also, the serial number is usually important in collectible NFTs. Trying to get low serial number NFTs on opensea now may prove to be beneficial later in the platform in terms of value.
At the time of writing, all unsold 2D assets are being burned and the ones left are sedan taxis, compact SUV taxis, Limos, Hot Dog Stands, and Car Repairs. Fast vehicles may be of value as well, since the game may include racing within the platform. Although, for example, all motorbikes may have the same speed, different calculations may be present in the game, or driving the vehicle itself will definitely make it interesting to see who is the better driver. Polka drop is one of the ways to get valuable NFTs on the cheap since you have a good chance to get something in at least one of the monthly NFT giveaways.
Opensea NFT trading: https://opensea.io/assets/polka-city-asset
Opensea 3D assets: https://opensea.io/collection/polka-city-3d-asset
Coinbase Charts: https://www.coinbase.com/price/polka-city
Disclaimer: This article includes some forward-looking statements, none of which are financial advice. Always DYOR.