Space Punks Club - APA Notes (October 14th, 2021)

Space Punks Club - APA Notes (October 14th, 2021)

Before we get into that, we want to go a quick shout out to the influencers who have supported us in the last few days.

  • JRNY Crypto
  • Coin Bureau Guy
  • WendyO
  • Ellio Trades
  • NFT Llama

Staking Updates

You may or may not be aware that there have been projects taken off OpenSea for offering financial returns to their holders and here at SPC we want to ensure that we do everything in 100% compliance. As a result, we are in talks with lawyers (the same ones other major NFT projects are using) and will be figuring out a way to do this in a safe and legal manner. Good news is that the royalties are accruing and will documented with full transparency. The focus is on ensuring we’re in alignment with OpenSea’s terms and conditions and the law.

This is the reason why we have taken down our blog posts on our thoughts on staking, as it is a potential red flag to OpenSea to advertise royalty distribution. We caution our community to not promote this portion of our utility until we have the legalities sorted.

The community funds are safe, and will be moved to a community wallet at the end of the month for full visibility.

Launchpad Updates

The community has been asking for an article regarding our upcoming launchpad drops, however because 1 day = 1 week in this space, lots of things will change between releasing an article and the actual drop date. Instead, we want to give you a heads up on the projects so you can do your own research and the exact details regarding the exclusive SPC holders mint for each project will be announced 48 hours in advance, along with the special SPC holders pricing. There will be a cap on the exclusive SPC holders mint (estimated at around 20% of the collection), however it may vary from project to project and it will be first come first served so ensure you stay tuned to the members lounge on discord for the announcement.

In addition to exclusive access and prices, each project will be providing several hundred keys to be airdropped to the SPC community. To be eligible you need to be holding a SpacePunk in your wallet and have no listed Space Punks under 1ETH. We proved this method with the bullish llama airdrop and the mechanics worked perfectly. However we don’t want to reward inactive SPC holders with random airdrops that they may think is spam, so we are working on a system for active holders either through our discord or website. These will be airdropped 48 hours after public sale. The genius behind the key system for those who don’t know, is that it’s a free mint (you just pay gas), and it’s active forever - you can wait until the project is a success before minting, you can sell your key and you can time your mint for low gas fees. No risk - only reward!

Additionally, with every successful Launchpad project, they will be providing us with a floor sweep fund, 5% of the total mint, or around 35 ETH upon sellout. The funds will be invested in the floor within 24 hours after sellout and as of now there is a 6-month lock-up period for these punks.

Blog dedicated to the LaunchPad is currently in the works and should be out in time for next week's APA.  This is where we will go in depth and really express our master vision we got planned out for the LaunchPad.

Upcoming projects:

Bohemian Bulldogs
Pre-sale: 16th October - 0.05ETH   - announcement tomorrow in the discord members lounge.
Public Sale: 17th October - 0.09ETH

Floor NFT
Pre-sale: 20th October - 0.07ETH
Public Sale: 22nd October 0.077ETH

Deceased NFT
Pre-sale: 29th October - 0.066ETH
Public Sale: 31st October - 0.08ETH

Chameleon Collective NFT
Pre-sale & Public Sale between 5th and 7th November
Exact date and price to be announced

Clones Update

During the minting process, the algorithm produced completely random punks, however due to the randomness and the rarity of certain traits there were clones (punks that look identical). The team noticed this early on and wanted to provide an additional benefit for all clone holders as they weren’t holding 100% unique punks. Originally it was going to be a pet dog, however the community wanted Dino’s - so we delivered Dinos. We promised that clone holders would have a minimum of 6 traits on their dinos. This was delivered and we can confidently say that everyone was impressed with Seagulls work on the Dinos - they look great! Some concern was raised about the rarity of the dinos, a result on adding more traits caused some of the dinos with less traits but rarer traits to be ranked higher - we’re not worried about that because we want the Dino’s to be valued based on their art (and they were given out for free) - but more importantly, the better looking Dino’s with more traits are going to evolve into bigger badder dinos. All dino’s will be part of the collection so the rankings will shift yet again with the addition of the E1, E2 and E3 dinos. More information on these (along with sneak peaks of the art) will be released at the end of this month.

So how many clones are there? This has been asked by the community and we want to address it transparently. Because gender and skin color is not considered metadata (a trait) there is 20% of the collection that can be considered clones (have at least ONE other punk with the same traits ). However, when considering identical images disregarding skin color and gender it is roughly 10% of the collection.

We received 30+ compressive suggestions from the community and have been reviewing them all over the last few weeks. There are a few limitations that we walk everyone through. Firstly, we cannot change the metadata, the NFT’s are on IPFS which prevents any images/traits/data being edited. This is different to the Dinos which are on a private server so we can animate attributes etc. With that being said, we cannot change the clones at all. Another suggestion was to buy-back the clones. To throw some quick math out there, if we swept 2,000 clones at a floor price of 0.4 - that would cost the team $2.8 Million USD. This obviously isn't feasible and we need to get creative with a solution that permanently removes the issue whilst benefiting the community and our holders. We’d like to walk you through the options we’ve narrowed it down to.

  1. Turning clones into booster NFT’s, for example some clones enhance pensions, others enhance key airdrop rates, some guarantee rocket fuel pool. The downside to this is that it’s very complicated and difficult to explain to new holders/community
  2. Burning the clones, which removes them permanently from circulation and reduces the collection count. There were lots of suggestions to burn 1 clone for 1 E3 dino. These E3 Dino’s will be 1/1 individual pieces and unfortunately this would take Seagull a year to draw them all. To make it work we would need to do a ratio of 10 clones to 1 E3 Dino - that’s how rare and awesome they’re going to be.
  3. Burn 4 clones for 1 a separate Punk NFT collection, These would be Wise or Elder Punks and would receive 2.5% royalties in their own pool during the period where the rocket fuel pool isn't running along with the regular pension (because they're old they get the pension). This creates utility to the clones. We can add lore to this: For example; we could send them to battle and only 25% returning as old wise punks (they've seen things)

All of these solutions have their pros and cons - we will be adding the recording of the APA Twitter Spaces session here soon to hear all of the team and community thoughts on the matter.