What if completing all 3 nightfalls (1 per character) awarded you with a random 320 item from either the vanguard, crucible or faction?
Completely random item.
TL:DR - completing nightfall on all 3 characters give a random 320 item.
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I think a 310 item would be more legitimate for how difficult it is, which is often times not much now nightfalls don't have the nightfall modifier