For the last few months, our two teams have been in close collaboration to bring the Elrond Community an amazing NFT collection. Maiar Punks brings fresh energy and an Elrond Blockchain-specific take on the classic pioneer of the NFT space: Crypto Punks.
In addition to being our first collaborative effort, Maiar Punks will also be the inaugural NFT collection to join the newly formed GNOGEN DAO LAUNCHPAD. “DAO” stands for a decentralized autonomous organization that is governed by its members via smart contract rules and regulations. There is no CEO or single point of failure in a carefully constructed DAO, with voting and decision making instead being governed by actions performed on the Elrond Network Blockchain.
As a member of this DAO, the Maiar Punks team will receive support on all levels — from artistic collaboration to the development of branding, marketing, and technical aspects. The Gnogen team will assist in creating the smart contracts necessary for the Maiar Punks’ 10,000 Generative NFT Project. Creating a custom solution within our very own smart contracts, Gnogen and Maiar Punks will ensure that every NFT in this collection (minus the initial 1,000 that have already been presold) will be a result of a “Verified Random Function”, also known as VRF. The ability for a 10K PFP project to launch using VRF Smart Contracts will be a crucial element in building trust within the NFT community. These SCs will ensure that no one has access or knowledge of which Maiar Punks will be minted, prior to collectors being able to purchase their NFTs. This means that those hoping to start collecting Maiar Punks have a “Blockchain Verified Record” that their Punk has proven randomness in rarity.
In exchange for the support offered by Gnogen, Maiar Punks will send 1,000 Punks (selected at random) into a multi-sig wallet. 100 of these 1,000 can be sold at any time, to fund the development of the DAO, but the remaining 900 Punks cannot be sold for a 3 Year Lock-Up Period. While this increases the scarcity of circulating Maiar Punks, it will also increase the value of these 900 by the time the 3 Year Probationary Period is over. Starting at the beginning of the 4th year, the Gnogen DAO members can collectively vote on all aspects of selling these NFTs — with all proceeds being distributed back to the DAO members via smart contracts. (Maiar Punks will always retain the rights to 100% of secondary royalties and full control over their project.)
Question: Who can join the GNOGEN DAO to take part in the governance as well as the distribution of rewards?
The Gnogen DAO will have a maximum of 1,500 seats. Any NFT team that agrees to partner with our Launchpad Program will obtain a lifelong seat in this DAO. In addition to the creators, a limited number of Gnogenverse members will be selected via Verified Lottery every year, to join the DAO as well (until all 1,500 seats are filled). These lottery seats will be awarded in the form of a transferrable NFT, meaning one can potentially sell/gift their membership into the Gnogen DAO. Further details on how to be eligible for a DAO seat will be revealed in the coming months.
For artists and NFT brands hoping to become a Gnogen DAO Partner, please send an email to email@example.com. The Launchpad Program will be accepting 12 to 20 carefully curated NFT brands every year. We are looking for talented, motivated teams who can bring high-quality NFT art & collectibles to the Elrond Ecosystem. Every project launched by the Gnogen DAO will always be built exclusively on the Elrond Blockchain.