Futurebot Burn

The Tldr:

⦁ Futurebot/Deluxebot policy id expires August 7th.
⦁ We will leave the rest unminted except remaining Deluxebot legendaries and a handful for giveaways.
⦁ Legendaries will be raffled to current Deluxebot holders.
⦁ We will continue to build our metaverse and work towards sustainability.

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The Collection

Our Futurebots and Deluxe Futurebots collection’s policy id will be expiring on August 7th, 2022. We will be minting the remaining legendary Deluxe Futurebot NFTs(5) and will be airdropping them randomly to the current Deluxe Futurebot holders. We will also be minting a small amount of NFTs from each collection for future giveaways - Futurebots(17), Deluxe Futurebots(8). The final count of each collection will be:

Future Fest - Futurebots: 2640

Future Fest - Deluxe Futurebots: 1910

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Our Reasons

We wanted to use this as an opportunity to explain our thoughts around this burn. We did our Futurebot NFT drop in February of this year. We originally had our collection size at 10,000 Futurebots and 3,333 Deluxe Futurebots. The reason we wanted a large collection is because we wanted a massive amount of people to attend our private events. In hindsight, this wasn’t the best decision because our community size wasn’t quite at the level to accommodate the collection numbers. We also thought we could sell out in subsequent sales, but the instability of the market put us in an interesting situation where we had to figure out how to properly price the sales. We wanted to ensure the original buyers got the best deal, so we adjusted the price weighted by USD at the time. This ended up shooting up the ADA price of the NFTs. Also in hindsight, this ended up messing up subsequent sales because we couldn’t reduce the cost of the NFTs anymore without harming the previous buyers that bought in at a certain price.

Ultimately the large collection of unminted NFTs made it a hard sell for anyone trying to get in. This burn gives us a great opportunity to do a soft reset, as the community will know exactly how many bot NFTs will exist.

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Utility & Airdrops

Another topic we wanted to bring up is the event access and deluxe airdrops. Originally, we mentioned that our NFTs would grant access to 3 exclusive events. This may have also been a limiting factor when we initially sold these. We were always planning on over delivering on these NFTs, but wanted to be really specific to help with planning and for buyers to know exactly what the minimum was to expect. This approach may have led buyers to believe that these NFTs would have a finite shelf life in terms of benefits. We used “season pass” messaging as well which may have further added to this sentiment

In terms of benefits for holders, the fact that we have a smaller, more intimate collection allows us to try out some interesting ideas. We’ll be trying out different new utilities that will be applied for both Futurebots and Deluxe Futurebots. Deluxe NFTs will still receive their remaining two airdrops, but will continue to get additional benefits beyond those, including possibly more airdrops. We want to ensure each airdrop is meaningful, so there may be gaps between them as we close deals with high profile partners.

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Our Future

We’re building a metaverse. We started out this year being contrarian and saying that we weren’t a metaverse. The reason we did that is because we had a certain standard for what we considered a metaverse, and even though we had a product, it wasn't quite there yet. We were building towards a metaverse. The thing about virtual events is that it allows us to gather a large amount of people together at one time and see how engaged they are. It also allows us to make rapid iterations on our platform because we could just throw an event; measure how it’s doing; turn it off; make changes; turn it back on to do another. Once you have a persistent platform out there, there are expectations to keep it up 24/7 and it gets harder to make changes. For us, once we reach a metaverse ready level, we could just leave our events on and now we have a persistent world.

Even though we didn’t sell out our collection, it gave us enough of a jumpstart to flesh out our platform. We’ve built it from the ground up, so we have complete control of what it can become. Having our own platform has made it very easy to start conversations with potential partners. It may take a little while for those collaborations to be announced, but we are very excited for the near term future. The platform that we’ve created is also really flexible, so you guys may see different types of events as well. 

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Conclusion

We currently don’t have any plans for another large collection. We will have smaller drops that will have different in-game utilities and we will also explore non-NFT sales to see how reception is. We ultimately want to be a gateway for the mainstream audience, so in the near term, we will be mixing Web 2 and Web 3. Our big focus is trying to create events that are fun and worth going to. It isn’t enough just to create something. If we can accomplish that at a consistent level, it will open up a pathway to sustainability for the entire metaverse space

We’ve been doing all of this for years - to make events that people could get excited about and to try to evolve into a full-fledged metaverse. After all this time, we finally have a community. You guys have supported us from the very beginning. Even during downtrends, you guys are supporting us on different networks and giving us feedback whenever we create something. We will continue building and make this thing massive.