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How I stake my ChubbyKaiju NFT to get $CRUNCH tokens

· 2 min read
How I stake my ChubbyKaiju NFT to get $CRUNCH tokens

In my case, I am exploring NFT projects that come with some unique utilities that I can try myself. Recently, I bought one ChubbykaijuDAO NFT because of its DAO concept. There you can participate in voting on community proposals and it also turned out to have a much deeper utility for me to experience.

NFT staking is a concept that allows you to land your NFTs to another wallet and earn internal tokens in a passive way. In this case, I had an opportunity to earn $CRUNCH tokens that can be used later for minting new NFTs and other activities.

This process happens on the project website and there I had to pay an additional one-time fee to approve my wallet connection before I was able to stake my Chubbykaiju. After this, I had to select it on the UI and tap on the stake button that also prompted me to pay for staking.

Staking ChubbyKaijuDAO NFT for $CRUNCH

Since my ChubbyKaiju got moved from the left to right tab, it is no longer visible on my wallet but I have an option to grub it back.

With this setup, my ChubbyKaiju will generate approximately 3 $CRUNCH per day as it has an Epic rarity. Later in time, I will be able to use these tokens to mint an alien ChubbyKaiju and sell it on OpenSea for example to get some Etherium back (Which I probably won't do) 😏

The overall process was tricky to understand before you check an official staking guide on the discord and I think I lost some GAS fees trying it too early. But in general, the value proposition behind staking seems reasonable but would depend on the overall ROI in a long term.

Have you tried NFT staking yet? 🦖