The Block Banana Card is an exclusive prepaid debit card, upgraded with credit facilities powered by your NFT.
What Block Banana are doing:
What Block Banana wants to do is bridging the gap between traditional finance,
cryptocurrency and NFT. We plan to launch Block Banana NFT, assigning the holder with the
right to receive a Block Banana physical card. Each card will display the holder’s selected
PFP.
Phase 1 - the card we issue will be more like a crypto debit card which enables you to settle
transactions at any merchant that accepts debit cards using the funds with your crypto. A big
difference between a crypto debit card and a traditional debit card: a crypto debit card
automatically converts the crypto you’ll be spending into the preferred fiat currency.
Phase 2 - We believe NFT staking opens up a new opportunity for collectors to monetize
their NFT collections. It has become the new way to earn a passive income in the crypto
world. Holders who stake NFTs lock their assets in DeFi platforms in order to receive
rewards without having to sell or lose ownership of their collection.
So in phase 2, in addition to the Block Banana card being a prepaid debit card, we work with
DeFi partners to get you credit on your NFT for use on the Block Banana card. In addition,
users can also lock up their NFTs to us for safekeeping and receive rewards based on the
established APY and the number of NFTs staked. The concept is similar to DeFi yield
farming, an investment strategy that involves lending or staking cryptocurrencies to liquidity
providers to earn rewards in the form of transaction fees or interest.
Block Banana card is a meta identity. Unlike traditional card issuers, your credit is calculated
based on your staked NFTs. You held power, explored and is a frontier in the NFT space. Let
Block Banana reflect your undeniable identity in the real world as well.
Who we are:
Block Banana is inspired by our personal journey from Web2 to Web3. We find ourselves
squinting and trying to figure out how we're going to use it beyond buying and selling digital
collectibles. We realized that NFT will be a real business and a real pastime. Also, we saw
possibilities of how NFT can bring digital and physical spaces together – using blockchain to
bridge finance, culture and new vibe together to alter our experience of Web3, whether
virtual or physical.
Our team's main focus is that we want to do for NFTs what DeFi did for cryptocurrencies. As
soon as you brought DeFi into cryptocurrencies, you also had this explosion of activity and
liquidity in the market. And we want to act as that catalyst for the NFT market, unlocking
some of the value in these NFT’s so they can then be ploughed back into the NFT
community and market to help develop the space further.