Mechanics
This experimental project seeks to test the fundamental concept of traditional NFT collection sizes. To start, this experiment will be accomplished through a novel burning process. This initial collection is the start of a multistage experimental project that will not only build upon the choices made during the initial minting/burning phase. It will also be affected by introducing new variables such as blockchain data, tokens, the global economy, as-well-as other correlational factors that are aligned to the project/experiment.
As we’ve seen throughout history, Fiat has an unlimited inflationary supply. Governments print more and more money to support their needs and not the needs of the people. Due to this fundamental characteristic. The Fiat Currency art will have an unlimited supply (technically up to 999,999,999) available to mint starting at .000002. Please be aware the cost to mint will have a tiered increase for 30 days (see chart below). Settling on a final price of .000004. This tiered approach was created to support our early supporters with decreased costs. As-well-as, align the final Fiat Currency art mint price to a level that supports our long term strategy. The amount of Fiat Currency art you choose to collect, will determine the amount of Crypto Currency art you can buy (burn) on a first come first served basis. Each piece of art represents a different currency, which is bound by its historical data points.
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Burning will start exactly 30 days after the Fiat Currency art piece is available to mint. This gives everyone a 30-day window to prepare and collect their Fiat Currency art pieces before the burning mechanism turns on. It also allows a window for new holders to be onboarded before the burning mechanism begins. Remember part of this experiment is to test the notion that less is more in this space. Something can can be numbered in the millions of pieces and still be considered desirable and valuable.
Monthly historical data points from January 2020 through December 2022 were taken to determine key metrics for each Crypto Currency art piece. The data was totaled and averaged into 4 weekly separate and distinct burning opportunities. The amount of Fiat Currency art required to burn for each Crypto Currency art piece and its supply is in direct correlation to its total averaged monthly historical data points (see chart below). Each week has its own unique cost (Fiat Currency art required to burn) and supply (amount of each individual Crypto Currency art available). With the average monthly value being the most heavily weighted characteristic. Each Fiat Currency art piece is given a fictional value of $1. It will require you to burn one Fiat Currency art piece for every dollar that the individual crypto currency was valued at, based upon its average historical data points.
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Once the burn phase is over, there will be no more of those specific Crypto Currency art pieces released again. There is one caveat to this rule, however. The total amount of Fiat Currency art available (999,999,999) is considerably higher then the amount able to be burned if every Crypto Currency art piece is minted (232,563,000). This was done purposefully, as there needs to be available Fiat Currency art for future mints, collaborations and other mechanisms that are going to be put into place. If the total amount of Fiat Currency art increases over the max burnable amount by 5% or more. We will allow the community to decide by vote how to proceed. At the end of the day, what we do not want is people buying Fiat Currency art and not being able to use it on the initial burn. While we feel this is an unlikely event. If for some reason it does happen. Please rest assured we have thought through this and are prepared with multiple ways forward.
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Process Map
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What to Collect
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While we do not want to give to much away upfront. There are some characteristics we feel are important to point out. The most important is the characteristics of how the project is minted. How you mint will alter some or possibly all of the points below. While the framework is in place, the details of how this will be built out is completely dependent upon you. There are going to be multiple ways in which you can participate within this project. You can buy Fiat Currency early and try to play the flip game due to the tiered cost increase, you can go for multiple sets, you can accumulate one or more of the coins for future events or any other way that is right for you. I can say there will be benefits to holding sets, as-well-as, holding multiples of coins. As with any secret society there are levels of membership... What you hold could effect that level of membership. Also as previously addressed, there will be opportunities to burn your Crypto Currency art pieces for rarer variations. Which could in turn be burned again for rarer variations. The point I'm trying to make is, with this or any other aspect of our project the sky is the limit. The intent is to always be moving forward by building, creating and growing together.
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If there is anything you are confused about, need clarification or if you have any questions at all. Please reach out to us through one of our documented channels and we will be more then happy to help.
