Developed by NFT social media network AITO, the NFT is a first on Aave and also a first in that it’ll generate ongoing Aave yield for the artists. The artwork itself is a multimedia, audiovisual collaboration between the DJ Marshmello and Steven Messing, the concept art director for Avatar 2 and Avatar 3.
The auction for the NFT is set to take place on Zora, an Ethereum-based perpetual markets protocol for NFTs, with more details about the drop to be revealed later.
The concept of yield-generating NFTs is just now starting to gain some interest and traction. AITO has not yet revealed the mechanics of the yield generation on its NFT. But the idea has been put to work in NFT-based games like Axie Infinity, where players can use NFTs in-game to farm other digital goods like ERC-20 potions which can be sold for real world money, in what is essentially gamified yield-farming.
Groups like Yield Guild, which rent out NFT assets to other players and educate new players on gameplay in exchange for a percentage of yield from in-game winnings, can also be viewed as a form of NFT yield-farming.
More experimental means of NFT yield generation exist as well, including examples like Rarible airdropping RARI governance tokens to people who transacted on their platform, or ARK Gallery which allows people to form DAOs to buy fractions of expensive cryptopunks and then vote on whether or not to sell the punk as a whole.