To start, we plan on launching 4444 Alter avatar NFTs and currently we plan on doing them for 50icx each but if more than 10 is purchased you get an additional avatar free (the first 148 to purchase over 10 will receive a more exclusive avatar NFT).
300 of the avatar NFTs will be airdropped to the original Alter drop NFT holders, these will match the design of the Alter figure (Newspaper design).
The 4444 will be a mixture of 11 designs and each design will have a backstory and represent a crew, so in total there will be 11 crews.
Here is a breakdown of the crews:
- 300 of the Newspaper addition.
- 444 of 9 different styles.
- 148 of 1 style (These will be used for airdrops to the first 148 who purchase over 10, any left over will be used for giveaways).
Out of the 4444, we plan on selling 3700 due to having 448 set aside for airdrops and 296 set aside for giveaways, helpers etc.
How will the tokens be generated?:
There will be three ways that the tokens are generated-
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- The Alter avatar NFT will generate x amount each day. We also plan on airdropping a months worth to all holders as a reward and to kickstart with sufficient liquidity.
The idea behind the tokens being generated by the Alter avatar is that whoever has an avatar will eventually be able to purchase wearables for their avatar or even physical products via funds that have been generated by said avatar.
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- Burning the original Alter drop NFT, this will give a large amount of Alter tokens but at the cost of losing all the benefits etc of the NFT. The amount is still to be decided once we work out exact numbers.
This creates a bit of game-theory for the Alter drop NFT as the holder will now have a burnable value backing the NFT, they can choose to burn the NFT for this value or hold for the benefits.
If burned, it will potentially give the holder a nice return but at the cost of losing all benefits the NFT has. It also decreases the amount of Alter drop NFTs meaning the rewards via profit and royalty share become less diluted.
Example:
There will be 300 Alter drop NFTs and for examples sake lets say the profit and royalty distribution value is $10,000, the way we are structuring this is 50% raffled to one winner and the other 50% distributed equally to all 300 NFTs, this means you have either a 1 in 300 chance of winning the 50% which is $5000 or you will receive a share of the other 50% which is roughly $17 per NFT. Now, if 100 NFTs are burned this increases the odds of winning the raffle, which will now be a 1 in 200 chance and it also increases the amount you will receive per NFT held to $22.5, which could potentially increase the overall NFT value.
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- We also plan on launching with x amount of pre-mined tokens to lock in liquidity pools and to potentially have in the community fund
Utility-
Purchase & Burn:
you will be able to purchase meta wearables from our collections with the Alter token, this may not seem revolutionary but we will be incorporating this into a burn mechanism with each purchase we will burn 50%, so if your order comes to 100 Alter tokens we will burn 50 tokens, any meta wearables also purchased with icx we will use 50% to buy back Alter and burn, this helps counter the inflation of the Alter token.
We will also be giving 10% of sales to the CPS fund, this is a decentralised grant system on the ICON blockchain, it is the fund that helped kickstart the Alter brand/project and many other amazing projects.
community driven fund:
We will be setting aside 7.5% of meta wearables sales for this fund, this will consist of both Alter token and icx. This fund will be voted on how it’s spent/used, we have a few suggestions but will be dependent on the Alter token holders vote.
Staking for a lossless lottery:
We plan on doing monthly lossless lotteries and rewards will vary each month based on everything generated, tokens will have to be locked for at least a week up until results in order to qualify.
Where do the rewards come from? A percentage of secondary sales and 7.5% of the meta wearable sales will fund this lottery
The meta wearables-
With the meta wearables we plan on having two types, limited and unlimited.
Limited:
These will be drops limited to x amount, this creates and adds rarity for the avatars style and also creates more of a secondary market demand for people to resell.
Unlimited:
These are drops that won’t have a limit on but will be priced extremely cheap to give an entry point for everyone to style their avatar.
Thanks for your time!
We are working on a roadmap so more details will come in the following weeks/months. We are always looking for feedback and ideas from the community so feel free to message us or drop a comment.
Also with the way it is all structured meaning it is an avatar you can style in the metaverse, we also want to explore the potential idea of people being able to sell on the secondary as a package deal, for example being able to sell your avatar with some limited addition wearables etc.