BRC-20 utility scenarios

BRC20 token utility scenarios and BTC NFT liquidity solutions

Bitcoin Knight has proposed an experimental scenario: allowing users to use the $KNTT token based on the BRC-20 protocol. Through this system, holders of $KNTT can participate in various lottery activities and have the opportunity to win NFT prizes. This system perfectly combines the utility of BRC-20 tokens and the fun of NFT raffle.

At the same time, this system also provides a liquidity solution for "Ordinals NFT". Sellers can list their NFTs as prizes on the system, and buyers can participate in the lottery by buying tickets and having the opportunity to win these NFTs. This not only increases the liquidity of Ordinals but also provides a new way for NFT holders to realize the value of their assets. Process Overview:

1. NFT Seller                       2. Raffle System                          3. Buyer                               4. Raffle Outcome
    +------------------+                +------------------+                      +------------------+                     +------------------+
    |                  |  Submits NFT   |                  |    Buyer buys       |                  |  Participates       |                  |
    |   NFT Seller    |  & sets ticket  |   Raffle System  |    tickets and      |      Buyer       |  in raffle &       |   Raffle Outcome |
    |                  |  price -------->|                  |    participates in  |                  |  gets the           |                  |
    |                  |  Chooses yodo  |                  |    raffle. If yodo  |                  |  result  ---------->|                  |
    |                  |  or BTC for    |                  |    is chosen, no    |                  |                     |                  |
    |                  |  payment ------->|                  |    fee is required, |                  |                     |                  |
    |                  |  If BTC is     |                  |    but 1% of total  |                  |                     |                  |
    |                  |  chosen, pays  |                  |    yodo tokens used |                  |                     |                  |
    |                  |  yodo fee      |                  |    are burnt after  |                  |                     |                  |
    |                  |                |                  |    raffle ends      |                  |                     |                  |
    +------------------+                +------------------+                      +------------------+                     +------------------+
                                                |                                                                    |
                                                |                                                                    |
                                                v                                                                    v
                                              +------------------+                                                     +------------------+
                                              |                  |    Audits all transactions and outcomes          |                  |
                                              | Regulatory       | -------------------------------------------------->|  Regulatory      |
                                              | Authority        |                                                     |  Authority       |
                                              |                  |                                                     |                  |
                                              +------------------+                                                     +------------------+