NFT Time!
NFTs, in case you have not noticed are kind of a big deal. More and more we see them entering into the mainstream conversation with major celebrities, brands, and even shows talking about NFTs. I do not expect the NFT hype to die down anytime soon. Yes, there will be lots of volatility in collections. Yes, it will be messy. But NFTs are here to stay.
I posted this funny clip from South Park talking about NFTs over on Twitter a few days ago. Give it a watch if you haven’t seen it yet.
That brings us to today’s newsletter. I have an interview for you with the team from Quidd which was the first NFT marketplace and which is working with some truly incredible brands for their NFTs. I also have a report for you from our resident NFT guru Sam on NFTs in the metaverse.
Quidd AMA
For anyone not familiar, what is QUIDD?
Quidd is the world’s first — yes first — marketplace for digital collectibles.
For over 5 years, a community of over 7,000,000 registered digital collectors have been building digital collections featuring over 325 of the world’s best brands, including Disney, Rick And Morty, Game Of Thrones, and the NBA.
On Quidd, our collectors can buy, hold, and sell their digital collectibles — off-chain — for real money (and withdraw!) or they can choose to mint their digital collectibles as NFTs on-chain, to their blockchain of choice.
The QUIDD token, also known as QUIDD, is the official utility token of the Quidd community, marketplace, and ecosystem.
What does the QUIDD token do?
The QUIDD token is designed to give Quidd collectors added utility in purchasing and minting NFTs, more collector benefits through staking programs, and more ways to earn in Quidd’s upcoming Collect-To-Earn (C2E) economy design.
Here are some more uses of the token:
– Real Purchase Utility: we’ll enable millions of buyers and sellers around the world to price and settle transactions in $QUIDD instead of only fiat. Holders of $QUIDD may receive discounts on aftermarket sales fees as well as exclusive buying windows on NFT drops.
– Staking For Collector Superpowers: holding and staking the token has real value. In particular, advanced collectors will be able to stake their $QUIDD in return for
exclusive access to professional-grade collector tools and services, including bidding on wholesale purchases, storefront analytics, and volume discounts on sales fees. $QUIDD can, exclusively, unlock new functionality for digital collectors.
– Earning! Let’s talk airdrops! Quidd collectors can earn more $QUIDD by performing activities that create long-term value, as opposed to solely through weekly trading activity, which is known to have the adverse effect of creating wash trading. So, $QUIDD can be earned through healthy behavior.
– Supply-Side Governance: token holders, proportional to their holdings, can vote on how funds in the Quidd’s content and licensing budgets are deployed. $QUIDD token holders actively participate in production decisions and can use votes to protect the value of their older collectibles by limiting future supply. Basically, vote your $QUIDD to determine the next NFT drop!
What blockchains are you operating on and do you plan to incorporate others in
the future?
For digital collectibles and NFTs in Quidd’s marketplace, items capable of going on-chain, so-called “mintables”, can be minted initially to Ethereum. Find a hidden treasure that is mintable? Make it a unique NFT and list it for sale on OpenSea!
Over time, we’ll add more chains giving greater collector choice. Yes, the collector will have the agency to say, “I want my collectible to go onto this chain, not that chain.” A little secret: you’ll even be able to mint to a chain and then un-mint back into Quidd to bring it to another chain.
The chains we are most excited about after Ethereum are BSC, Solana, WAX, and Flow. Our first mint will be to Ethereum before the end of the year.
For the utility token, $QUIDD is ERC20 on Ethereum and BEP20 on Binance Smart Chain.
What are some of the brands you are working with?
Quidd has over 7,000,000 registered collectors that buy, hold, and sell digital collectibles from over 325 of the world’s best brands, including Disney, Rick And Morty, Game Of Thrones, and the NBA.
Here is quick list of fun digital collectibles and NFTs you can collect on Quidd: Star Trek, Naruto Shippuden, Funko, Steven Universe, Transformers, Adventure Time, Atari, Bleach, Cardcaptor Sakura, Dr. Seuss, Family Guy, GI Joe, Garfield, Ghostbusters, God of War, Hello Kitty, Jurassic Park, MLB, Mr Beast, Toyko Ghoul, and more!
This list is only getting longer. Just wait for 2022.
You are very close to Animoca who is one of the biggest names in the gaming,
metaverse, NFT space. How are they helping you?
There are a number of synergies in and across Animoca Brands. Here are a few:
– Animoca Token Projects: Animoca has helped incubate and launch a number of
successful token projects, like $SAND, $GMEE, $TOWER, and $REVV … the $QUIDD
token is leveraging a similar playbook and team to ensure a successful IDO, CEX
listing, and overall growth of the token community. Net: we get to learn from and
work with the best.
– Launchpad: we run a public pre-sale through Animoca’s launchpad, selling NFTs
redeemable for future tokens. The first one we did for $500,000 worth of token sold out in minutes.
– Smart Contract / Auditing: the contract for the ERC-20 token is sound, safe, and
audited; it uses similar “kernels of technology” that originated in prior successful token launches from Animoca.
– Finally, METAVERSE: Animoca Brands has acquired and invested in a large number of blockchain-based apps, games, and virtual worlds, and this isn’t by accident. An open, decentralized, and highly-interoperable network of experiences — one that delivers on the promise of true digital ownership and NFT portability — isn’t easy to build, but the Animoca Brands family of companies has a real head-start. If it sounds confusing, here’s a simple use case demonstrating the power of being part of this metaverse: buy a 3D voxel figure on Quidd in a low-cost blind-box, mint it, and then walk around with it as your avatar in The Sandbox.
What is your plan to become the leading NFT marketplace?
We don’t think that 1 NFT selling for $1,000,000 is cool. Instead, we think that
1,000,000 NFTs selling for $1 is cool.
Why? Because it’s big, accessible, and available to the masses.
So, our plan for becoming the leading NFT marketplace is based on creating
purpose-built functionality for no-coiners.
And this isn’t easy to do. It’s much easier to talk about bringing a billion people to the blockchain, but much harder to make it happen. We’ve been working hard — for years — to bring digital collecting, NFTs, and true digital property rights to
mainstream audiences. Here are a few ways we’re leading the way, and building our edge against the competition:
– Brands: we have the largest assortment of pop culture brands available as
officially-licensed digital collectibles on the planet. No one comes close.
– Mobile Apps: our native mobile apps, available for free on iOS and Android, are
slick, fast, and the ideal front door to turn mainstream collectors into digital
collectibles and NFTs.
– Get An NFT With Only An Email Address: in 30 seconds or less, new collectors
on Quidd can register and buy their first mintable digital collectible, giving
them the power to mint their first NFT. Our adoption model has regular fans
falling in love with branded digital collectibles FIRST before they decide to
mint it as NFTs.
– Start With Fiat, Migrate To $QUIDD: collectors can buy, hold, and sell digital
collectibles, mintables, and NFTs using USD, and they can withdraw their
proceeds even before their collectibles migrate on-chain.
– Mintables And The Multi-Chain World: the Quidd marketplace is ruthlessly
chain agostic. Our first NFT minting gateway is to Ethereum, but that is not
the last. Over time, collectors on Quidd will be able to mint (and un-mint) their
NFTs from one chain to another, using Quidd as their central hub and
aggregator. And the QUIDD token will be the exclusive token to enable that.
What comes next for QUIDD?
A lot. Some we can mention, and some we cannot.
We invest significantly in our marketplace technology and platform so let’s share
what is next with our roadmap:
– Minting to Ethereum: by end of 2021, collectors will be able to escrow, delete,
and transfer their off-chain collectibles to Ethereum; we’ll have a basic ERC-721
smart contract deployed on mainnet to which collectors can mint and sell on
OpenSea or un-mint and bring back into Quidd
– Store Credits: by end of 2021 and just in time of the holiday season, QUIDD
token holders will begin to receive marketplace rewards in the form of USD
Store Credits and Free NFT Packs; the more $QUIDD held, the more collector
advantages can be unlocked
– Burning & Bulk Sales: destruction is a foundational right of ownership that
should extend to digital goods; in early 2022, collectors will be able to burn
unwanted items, removing them more circulation forever; additionally,
collectors will be able to bulk sell items to other collectors, enabling higher
liquidity for mid-range NFT inventory
With NFTs booming now is a great time to look at the $QUIDD token as well as
building your first collection of NFTs in the Quidd marketplace.
Metaverse NFTs by Sam
It’s possible that the NFTs = JPGs era will be short-lived and looked back on as a historical curiosity, and what we’ll see next is more NFTs becoming digital tools that have true Web3 functionality.
An obvious use case is in metaverse projects, where NFTs certify ownership of digital assets. We’re still at a stage where if you tell someone you bought some land, but that it doesn’t exist in the real world, they may well think you’re cracking up, but don’t let that put you off: there are already significant profits being turned on the metaversal markets.
One thing to note is that with all the hype around metaverses, a lot of projects will attach the metaverse label to their product simply to sound trendy, so be wary of chasing everything that sounds a bit metaverse-y.
That all said, here are some projects to be aware of.
The Big Players
Right now, the big two are Decentraland and The Sandbox, and you might also want to add Cryptovoxels and Somnium Space to that list.
There’s been no shortage of big name activity this year. Nike recently acquired virtual apparel maker RTFKT Studios, Adidas released its first NFTs and has bought land in The Sandbox, and early adopter Snoop Dogg is setting up his own Snoopverse, also in The Sandbox.
Over in Dencentraland, Sotheby’s already has an art gallery, and you can visit Metajuku, a digital homage to Tokyo’s Harajuku shopping district.
Within the frontrunners, land is scarce and the demand is real. You can think of land acquisition in these metaverses just as you would real-world land acquisition: it may go up in value, you can, potentially, rent it out, or you can build on and develop it yourself.
However, the big projects are already heated up, with the lowest-end plots in Decentraland, for example, having gone up in price from around $20 (in 2017, when Decentraland launched) to, currently, around $13K (and at the top-end, prices have hit over $2 million).
Is the market frothy and due a correction? Possibly, and crypto is nothing if not volatile. Are the fundamentals in place for long-term gains, looking ahead 3/5/10 years? Very plausibly, but that’s your call.
Others of Interest
Of course, better than cheerfully FOMOing in several months after Snoop is finding projects that are not yet overcooked, and there are plenty of avenues to explore.
One I’ve mentioned several times is Pavia. It comes across as a Cardano version of Decentraland or The Sandbox, and it just airdropped its native token to current land holders. You can trade the $PAVIA token at the new Cardano DEX MuesliSwap.
Bit.Country is a slick-looking project which is still at a very early stage of development. Built in the Polkadot ecosystem, it proposes to be a platform for user-generated metaverses and games, making it a little different from other projects. It will have its own native token, staking, and a governance system, and aims to allow users to build without needing technical coding skills.
Some other projects that stand out and have great potential are Netwvrk, Mobox, and Bloktopia.
Game projects
There’s a strong overlap between metaverses and gaming, as games move towards building persistent, play-to-earn environments. NFTs in successful gaming projects are functional assets, holding their value through having measurable utility.
The big game up to now, which has proven hugely successful, is Axie Infinity, and it is (by blockchain gaming standards) an increasingly mature ecosystem.
My Neighbor Alice is a cute-looking building game incorporating land ownership, renting, other NFT assets, and a native token, $ALICE, which trades on several markets. Its play-to-earn experience will contain DeFi elements such as lending and staking and is due, according to Steam, to launch fully in spring of 2022.
By the way, My Neighbor Alice is built on the Chromia blockchain platform, which you might also want to take a look at, as it’s a platform that allows for scaling dApps, and which you can buy into through its $CHR token.
Together, My Neighbor Alice, Chromia and Mines of Dalarmia–another play-to-earn game that’s worth a look–set up the Metaverse Grant Program earlier this year, the purpose of which is to provide research and development to new projects.
Blockchain gaming platform Gala Games held its Galaverse event in Las Vegas earlier this month, reinforcing its status as a key driver in the industry. Gala is leading the way with impressive-looking games such as The Walking Dead: Empires, and Mirandus, both of which incorporate NFT ownership.
If you want to dive deeper into the returns-oriented communities organizing around gaming, NFTs and DeFi, then you’d do well to start with Yield Guild Games (YGG), a DAO that generates real-world value from blockchain gaming and the metaverse.
There are countless other gaming projects, but Aavegotchi and Illuvium can’t be overlooked, and Cornucopias, being on the Cardano blockchain, will be able to tap into support and engagement from Cardano’s ever-active NFT community.
Fractal
If you’re big on Solana and want to pick up some gaming NFTs, then you should definitely keep an eye on Fractal. Scheduled to launch on Christmas Eve, it’s a platform to buy and sell Solana-based gaming NFTs ahead of game launches, allowing people to buy in early, and making it easier for developers to raise funds.
Fractal is co-founded by Justin Kan, who also co-founded Twitch, so it’s certainly no amateur operation, and it’s interesting that Kan is going with Solana, a blockchain that has shown incredible growth this year.
Final Notes
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
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Lark and the Wealth Mastery Team
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