🦝NFTs and Utilities
As we previously mentioned, the Racøøn team intends to issue multiple small series’ of NFTs (3 to 4) on different Cosmos chains. The first series has been issued on the $SCRT chain.
All Racøøn NFTs will be generated with artificial intelligence models as this is a core objective of the project. As of now, the model we are leveraging is Generative Adversarial Networks. We intend to explore additional models in the future. Further information pertaining to this topic is available in the Artificial Intelligence section.
What are the NFTs utilities?
The first utility of the NFTs will be linked to the Gambling Metaverse platform that will be released in the future. A portion of these profits will be distributed to $SCRT NFT holders/owners.
The second utility of the NFTs will emerge upon release the $JUNO NFT series. At this time, it will be possible to morph (or even combine) your NFTs into new ones.
The third utility will be linked to gamers participating in the Gambling platform. An NFT series purely linked to the Gambling platform will be released in the future. This idea behind this series includes obtaining an increased rank based upon participation in the Gambling platform. For example, Level 1 may consist of a generally basic NFT. Upon further participation in the platform, the NFT has the potential to improve. Improvement of the NFT may consist of new traits and characteristics such as new/different clothing, a crown, etc.
The fourth utility of the NFTs we intend to include is to allow transferability across chains. For example, an NFT originally available on the Cosmos chain could become available on an alternative chain. We intend to make this possible by creating a similar representation of the NFTs on alternative chains.
Additional utilities may be planned in the future.
$SCRT Network NFT collection
1333 NFTs :
Owners of this collection will be provided a portion of profits generated by the gambling platform.
All profits from this collection is re-invested in Racoon Supply.
333 will be minted for the community as described below: (See this link for the airdrops)
125 for $RAC Liquidity Providers;
125 for $RAC token holders;
50-60 for Discord members;
10-20 for Twitter members; and
3-10 for other contests.
1000 to be minted at a price of 40 sSCRT each.
$SCRT minting profits will be allocated as follows:
-> Gambling platform (main source)
-> Transformation of the website as an app (i.e., mobile friendly website). This will be a 'one-stop shop' where you can have everything related to Racoon (Gambling, NFTs, and $RAC dashboards). The Racøøn team is currently working on this.
-> Potential external expenses to build the above (anticipated to be approximately 3-4% of revenue or less)
-> 10% of the funds are retained in a reserve for unforeseen circumstances
-> From the 10% reserve, the Racøøn team has included a portion of the reserve that can be leveraged for marketing if deemed necessary.
-> 6-7% of the minting profits have been consumed by fees related to cloud computing (GPU and CPUs) to train the deep learning models utilized to generate the NFTs.
$SCRT NFTs royalty
-> A 6% royalty on NFT marketplace sales will go to the dev wallet.
The Racøøn team will evaluate how much is raised from the royalty in the future. However, an estimated 2-3% portion of the royalty proceeds will go to our artist (dependent upon the actual proceeds generated from the sales volume). The other 3-4% portion of the royalty proceeds will go to the upcoming development/community fund. Further details will be provided in the future dependent upon realized volume on the Stashh marketplace.
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