nfts are pure childhood excitement
Most members of the F-0x crew got into NFTs through the magical experiences we had in our childhoods. We all knew the feeling of opening up freshly bought packs of our favorite trading cards like Pokémon or Yu-Gi-Oh! and trasuring the moment of seeing the cards one by one. The magical reveal process of exploring what cards were in our pack of choice and the thrilling rush of excitement we all got because we knew that we could be rewarded with one of the rare cards of the series.
When we first heard about NFTs, the connections to the feeling of our childhoods just reappeared immediately. We knew that NFTs offer possibilities that we as adults now would cherish again. In order to recreate this feeling for our community, we throughoutly planned, structured and designed our vision of true community and brand excitement in the world of web3. The concept of shared ownership of what could be of the most exciting brands in the decentralized web space got us all to come together and combine our talents to realize the F-0x project.
THE NFT LANDSCAPE IS CHANGING
In recent times, gas wars and unfair minting tactics used by many teams have closed the market for legitemately interested and new players that lack the funds to compete with professional gas-war centric flippers are locked out of projects.
F-0x is not centered around professional sellers that are looking for a cheap buy and profitable and fast flip. We are creating long lasting value and a brand that sticks out. One aspect of such brands is the legitemate and truly connected community, which supports the project and has a truthful interest to prosper together.
In order to archive our goals of creating a fair minting process for all interested people, we have created a minting phase with 3 steps in which we will enable everyone to fairly participate and buy at a price that they are comfortable with while maintaining the ability to gather a community of long-term focussed members to build a strong brand with.
THE MINTCLUB - OUR SOLUTION TO FAIR DISTRIBUTION
Many projects use concepts like whitelists to ensure to reward active members of the community for their engagement and genuine interest. However, in recent times the utility and legitemacy of whitelists has become obsolete while dedicted marketplaces came up to trade whitelist spots for large sums of money to allow quick-flippers to fill whitelist they should not be on while taking away spots for genuine supporters of the project.
We want to ensure that our project is accessible to those who truly deserve it – the people we want to build a solid foundation with – the people we will keep in our circles to ensure that the projects trajectory is kept on a path that ensures maximum potential.
We have also recently noticed a trend where a lot of projects have a shallow mechanic of distributing whitelist spots for social media engagement. While we acknowledge the importance of rewards for brand awareness carried by supporters, we also see projects that rely on this mechanic fail left and right because they are built on a weak foundation of people spreading information about a project they do not genuinely support and like in order to have the benefit of joining the whitelist.
With all this background information, how does F-0x choose candidates that will be able to mint during the first phases of the project?
HOW JOINING THE MINTCLUB WILL WORK
F-0x aims to establish itself as one of the leading metaverse brands of the ever-developing world of crypto and web3 – therefore we have to be able to start off with as much genuine social media engagement as possible while leveraging the possibilities this brings to the fullest. In order to realize the visions we have for F-0x and its position as THE brand in the world of crypto, we have to find the people that genuinely resonate with our message.
OUR APPROACH TO A FAIR AND ENGAGING MINTING PROCESS:
//1 - Dutch Auction Phase
Phase 1 of the sale will consist of a dutch auction which begins on DATE. Approximately 8888 F-0x will be available to mint with a starting price of 1 ETH. The price will decrease by 0.05 ETH every 20 minutes until it reaches 0.15 ETH.
//2 - MintClub Phase
Phase 2 of the sale will be exclusively reserved for 312 of our MintClub members. It will begin on DATE. Every member of the MintClub will have 48 hours to mint a single F-0x for half the price of the last sold F-0x in the dutch auction.
Example: If the last F-0x in the dutch auction sold for 0.15 ETH, the price for members of the MintClub will be 0.075 ETH.
//3 - Public Phase
The remaining 800 F-0x will be sold in a public sale phase which will begin on DATE. The public will be able to mint a F-0x for the last price during the dutch auction.
Example: If the last F-0x in the dutch auction sold for 0.15 ETH, the price for a F-0x during the public sale will be 0.15 ETH.
WHAT THE F-0X IS A DUTCH AUCTION?
A dutch auction is a type of sale dynamic in which an auction starts with a fixed price which drops over time. While a standard sale will drop all NFTs on the market at the same price and at one time, this allows community members to buy a F-0x at the price they are comfortable with while avoiding gas wars and other destructive mechanisms of preying market participants. Dutch auctions spread demand over time and allows members to participate in a controlled, humanised environment while closing out bots and flippers. A dutch auction has to find the right balance to spread the demand out over a long enough period of time while dropping the price slow enough to not create dynamics a public sale would have. We think that we found the magic formular to create an environment our members will love.
EVERYONE FOR F-0X.
F-0X FOR EVERYONE.
We at F-0x believe in the experience that early NFT drops brought us with all the excitement, fun and surprises they brought. In order to create a fun experience for our members in times of botted buy-ins, automated flipping and harmful market participants, we had to come up with challenging dynamics that would create a safe environment for our members in which the main idea of NFTs can thrive and prosper again. We are certain to have created a great system consisting of active member rewards with a highly curated MintClub and accessible mint-spots for everyone interested in joining the community.
While we realize the critique this brings with it, we think that our approach allows us to build the brand we imagine for a long term focussed and highly motivated audience and with genuine and supporting community members. We believe that we open up the F-0x ecosystem for just enough people to have a fair dirstribution while also rewarding highly interested members of inner community circles at the same time.
Together with our web2/web3 merging products and more engagement-enticing project phases, we are sure to have built a system which is here to stay, here to thrive and here to win.