PROPOSAL NAME: NFTCG Generation 2 “Going Bananas”
PROPOSAL CATEGORY: Ecosystem Fund Allocation
ABSTRACT
The proposal presents the idea that NFTCG Generation 2 will feature Bored Ape Yacht Club as the pilot collection that introduces PBTs (Physically Backed Tokens) under the EIP-5791 contract, in the form of a physical and digital collectable trading card game. Each physical trading card will contain an immutable private key that ties itself to a token on the Ethereum blockchain. This not only allows for immediate authentication of every physical trading card, but also allows for future on-chain interaction in order to play NFTCG within the Otherside. In doing so, BAYC is able to leverage the mainstream trading card market as the gateway into the BAYC community, while simultaneously pushing forward the first macro implementation of PBT technology within the Web 3.0 and IOT space.
Each booster pack in this pilot collection is exclusively purchasable in $APE, pushing forward further exposure and adoption of the token. 5% of revenue generated from NFTCG Generation 2 “Going Bananas” and ALL FUTURE Yuga Labs related collections will be donated towards endeavors that are to benefit the Ape DAO as a whole. These endeavors are to be decided based on Ape DAO participation and community thought. Suggestions include an agreement to redistribute the donation back to the ApeCoin DAO community directly, burn the $APE, or donate it to a charity of the community’s choice. This is in an effort to give back to the $APE DAO and thank the community for their efforts.
AUTHOR DESCRIPTION:
Cyrus, also known as “Lycaon”, is a corporate financial consultant in Los Angeles, partnered with Oracle. He studied finance in college, graduating with a Bachelors of Science in Business Administration in three years. He has over seven years of experience in design and illustration, as well as two years of experience running his own corporation alongside his consulting career. He will be the project lead and Chief of Design, specializing in some card illustration, gameplay mechanics, project timeline, and delivery.
TEAM DESCRIPTION:
Thomas, also known by the username “Drebin”, studied electrical engineering in Los Angeles and currently works as a sales engineer in industrial automation and the Industry 4.0 space. He will be Product Lead for backend tech implementation as we work on streamlining a manufacturing plan for PBT (Physically Backed Token) tech at scale.
Nate, also known as “NVNEIK” online, is a 3D illustrator and motion designer with over five years of experience in the industry. His experience in the NFT space is highlighted through the release of his own NFT collection, “Lunarbirds”. Nate is behind the artwork displayed on each NFTCG card. He will be responsible for any design and illustration needs throughout the project, including the illustration and production of the digital version of each card to be used within the Otherside.
MOTIVATION
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Bored Ape Yacht Club has consistently proved themselves to be the industry leaders of Web 3.0, introducing revolutionary ideas to the space and serving as a beacon for mainstream audiences to onboard into the ecosystem. Recently, the Azuki team released a CC0 PBT contract. The BAYC community should be the ones to take this bridge between physical and digital collectables to a never before seen macro scale, with the funding of a proposal that plans to manufacture 6000 PBTs for this trading card game collection.
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With $APE as the exclusive payment method for ALL FUTURE NFTCG collections, the APE community can ensure a greater adoption of the $APE token as one of the only transfers of value within the overarching mainstream TCG ecosystem. The implementation of NFTCG’s future generations (featuring other NFT collections) will allow for additional use of the token within the NFT space as well, as the exclusive purchase method for all booster packs will continue to be $APE.
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5% of revenue generated from this collection, and all future Yuga Labs related collections, will be allocated towards endeavors that are to benefit the DAO. To reiterate, these endeavors are to be decided based on Ape DAO participation and community thought. Suggestions include an agreement to redistribute the donation back to the ApeCoin DAO community directly, burn the $APE, or donate it to a charity of the community’s choice. This is in an effort to provide a diversified source of consistent income for the DAO, aside from after-market royalties.
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NFTCG can be implemented within Otherside as a mini-game for the Voyagers. This plan will further develop as the Otherside finalizes development, but the objective is to have tokenized versions of Generation 2 NFTCG cards implemented within the Otherside. Each player will have exclusive access to their physical cards as an NFT within the Otherside. When the physical cards are traded in the real world, so will the access to the NFT cards within the Otherside. The eventual introduction of other NFT collections to NFTCG will continually promote a larger player-base within the Otherside.
RATIONALE
This proposal aligns with the APE community’s mission and guiding values, broken down into three parts:
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Market Penetration: The TCG industry is currently valued at $25 billion (projected to hit $98 billion by 2027). NFTCG serves as the platform that will incorporate the BAYC brand to disrupt the TCG market with industry-first PBT technology.
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Mass Inclusion: With the upcoming release of the Otherside, the goal is to gain and maintain a large active player base. While BAYC is the proposed pilot collection that introduces mass adoption of PBTs in Web 3.0 technology, it is only the first of many planned collections that will continue to feature this technology. The consistent introduction of new collections to NFTCG will introduce a wider player base to the Otherside.
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Proof of Concept: NFTCG has a foundation established for manufacturing, market interest, and supply chain management; a fitting incorporation to the $APE DAO. NFTCG’s first collection for Moonbirds serves as a testament to sustainable manufacturing and supply chain capabilities.
NFTCG KEY PERFORMANCE INDICATORS
NFTCG Generation 1 “New Hatch’', was released on November 19th. This limited collection represented the Moonbirds NFT project. The launch was a success, selling over 400 packs in just 72 hours. Three KPIs are highlighted below:
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Average Order Value: The average order value was $46.19, or 4.619 packs per order. This data point suggests that customers tend to buy multiple packs, and that there is a pool of repeat buyers, given that customers have an opportunity to purchase another limited collection.
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Conversion Rate: NFTCG’s first drop had a conversion rate of 10.25%, denoting that 10.25% of potential customers that viewed the website, followed through with a purchase. Average industry conversion rates range from 2-5%. NFTCG had no marketing budget, all outreach was conducted via personal Twitter account.
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Visitors By Country: Customers’ geographic locations were recorded to provide insight regarding our global market. 57.9% of customers were located in the United States, resulting in 42.1% of customers being located abroad. These regions include Australia, Canada, Germany, Italy, Japan, Hong Kong, and the United Kingdom.
KEY TERMS
PBT
- A Physically Backed Token is a standard used to showcase physical assets as NFTs with verified authenticity and ownership.
- The concept of PBTs are unique, as most current implementations have an NFT and physical item functionally being two decoupled distinct assets after the NFT mint. With PBTs, the NFT cannot be freely traded independently from the physical item.
- Conceptually, a PBT features:
- NFT transfers to a different owner only when a signature from the physical chip is supplied to the contract.
- A token cannot be transferred without consent from the owner of the physical item.
EIP-5791 (Ethereum Improvement Proposal 5791)
- This standard is an extension of EIP-721. It proposes a minimal interface for a EIP-721 NFT to be “physically backed”, and owned by whoever holds the NFT’s physical counterpart.
- A chip contained within the EIP-5791 protocol fulfills the following requirements:
- The chip can sign messages using the private key of the previously-generated asymmetric key pair.
- The chip exposes the public key; and
- The private key cannot be extracted
- The chip can sign messages using the private key of the previously-generated asymmetric key pair.
NFTC Chip
- NFTCG’s custom-encrypted type-4 NFC chips are capable of securely generating and storing an ECDSA secp256k1 asymmetric key pair. Has the ability to redirect users to a predetermined web page, which in this case will be the OpenSea page of each ape featured as a card design.
- A common analogy with this sort of tech is to imagine the fusion of a hardware wallet and your typical NFC chip. Each NFTC chip has the security of a hardware wallet and allows for transfer of ownership in a similar way.
- Just as a ledger needs to be present physically to sign off on the transfer of funds, so does an embedded NFTC chip need to be present in order to claim ownership of that corresponding NFTCG trading card.
TCG
- Stands for: Trading Card Game
- Examples of TCGs: Pokemon Trading Card Game, “Yu Gi Oh!”
- Typical Trading Card Games exemplify periodic releases of unique collections that introduce new characters and card designs.
- For NFTCG, periodic releases are denoted by collection title, containing a unique slogan following a generation number.
SPECIFICATIONS
Collection Breakdown:
- Collection Title
- NFTCG Generation 2 “Going Bananas”
- Booster Packs
- Limited collection of 1000 booster packs.
- 6 cards per pack
- 3 Common cards (50.00% Rarity)
- 2 Uncommon cards (33.33% Rarity)
- 1 Rare (11.66% Rarity); or
- 1 Holographic card (5.00% Rarity)
- Each pack will be enclosed in a custom foil packaging
- Card Content
- Card Specs:
- Size: 88mm x 63 mm
- Print: CMYK dual sided
- Design:
- 55 unique Bored Ape Yacht Club card designs on the frontside of the cards
- Scanning the NFTC chip inside of a card will link the user to the individual NFTs OpenSea page. This is an effort to support OpenSea creator royalty fees, while simultaneously fostering further attention and recognition for each ape featured the collection.
- Game Mechanics:
- The front side of each card will display a BAYC character name, unique ability, attack points, health points, card rarity (1-3 stars), and card number.
- Full set of game rules: NFTCG Rules
- Card Specs:
Technology Breakdown:
Each physical trading card will contain a unique encrypted NFTC chip, housing the EIP-5791 protocol tied to the Ethereum blockchain. Specific hardware and platforms used:
- Hardware: (NFTC Chips)
- Unique type 4 NFC chips that are capable of securely generating and storing an ECDSA secp256k1 asymmetric key pair.
- These are the minimum hardware specs of the embedded verification chips required to carry out all necessary functions of PBTs.
- Allows for the physical trading card to be infinitely attached to its digital asset, legitimizing the purchase of cards through a physical secondary market system.
- Unique type 4 NFC chips that are capable of securely generating and storing an ECDSA secp256k1 asymmetric key pair.
- EIP-5791
- The EIP-5791 contract proposes a minimal interface for a EIP-721 NFT to be “physically backed” and owned by the holder of the NFT’s physical counterpart.
- Full breakdown on the current EIP-5791 protocol: ERC-5791: Physical Backed Tokens
- The EIP-5791 contract proposes a minimal interface for a EIP-721 NFT to be “physically backed” and owned by the holder of the NFT’s physical counterpart.
Payment & Delivery Breakdown:
- Payment Method
- The booster packs will be exclusively purchasable in $APE
- Price: $15 USD per booster pack (Paid in $APE)
- $APE Discount
- As a means to encourage the staking of $APE beyond its use as a purchase method and APR, customers holding $APE in their metamask wallet will receive the following discounts:
- 100 $APE will result in a 2.5% site wide discount
- 1000 $APE will result in a 5% site wide discount
- 5000 $APE will result in a 10% site wide discount.
- As a means to encourage the staking of $APE beyond its use as a purchase method and APR, customers holding $APE in their metamask wallet will receive the following discounts:
- Delivery Method
- Available globally; Shipping costs are dependent on geographic location.
STEPS TO IMPLEMENT
Phase 1: Card Selection and Final Advisory Board
- BAYC NFTs will be selected in order to make up the 55 designs within the collection. The selection process will be conducted in two parts:
- 15 designs in the collection will be allocated to prominent members of the BAYC community by our team. This is a testament to those individuals who have helped build the project and community thus far.
- Community leaders we plan to include in the collection will be contacted and asked to sign a simple contract which allows us to use their their specific Bored Ape IP rights for this Generation 2 drop only. If some selected community members prefer not to include their Ape in the collection, we will reach out to alternative community leaders as backups.
- The remaining 40 designs within the collection will be raffled in a randomized fashion, in order to be inclusive of all apes within the space. The raffle
- Upon entering the raffle, there will be an included statement highlighting that by entering the raffle, a holder is allowing their entered BAYC’s IP rights to be included in NFTCG Generation 2. Winners of the raffle will be contacted if their ape is selected.
- 15 designs in the collection will be allocated to prominent members of the BAYC community by our team. This is a testament to those individuals who have helped build the project and community thus far.
- During the card selection process, NFTCG will finalize the selection of delegates from the Yuga Labs community.
- Selected community members will act as delegates within the BAYC community to communicate regular internal updates as the project progresses. These community members will be ready to relay feedback to the core team as new ideas or points of growth are cited.
- The @CryptoLycaon Twitter page will be the source of general updates within the NFTCG community.
Phase 2: Illustration & Designs
- Each of the 55 Bored Ape Yacht Club NFTs chosen for this collection will be assigned a unique hero name, attack points, health points, ability, rarity (stars), and cost to play. These characteristics are displayed on the frontside of the card, and game tested before finalization to ensure NFTCG gameplay remains balanced.
Phase 3: NFTC Chip, Manufacturing, Calibrating, and EIP-5791 Contract Creation
- Uniquely encoded NFTC chips are to be inserted into each of the 6,000 cards. Before this, it is necessary to ensure that each chip is properly calibrated and programmed in order to be coupled with a unique token under the EIP-5791 contract.
- The EIP-5791 contract will first be created and relayed to chip manufacturers, so that each NFTC chip is encoded for final token allocation.
- Each Generation 2 card will be programmed to direct users to the OpenSea page of the Bored Ape featured on the corresponding card design when scanned.
Phase 4: Booster Pack Manufacturing and Packing
- 6,000 cards are to be manufactured, each with an encoded NFTC chip contained inside. Custom booster pack foils will also be manufactured simultaneously.
- After each trading card is printed, quality checked, programmed and tied to an on-chain token, they will be organized by rarity and randomly packaged into 1,000 foil booster packs.
Phase 5: Website Developments and Launch
- The NFTCG website will be updated with all card designs featured in NFTCG Generation 2 “Going Bananas”.
- Example: NFTCG Card Database
- The website will integrate a Metamask payment system that permits users to purchase their packs exclusively using $APE, as well as to identify how much $APE a customer has available in their wallet to provide the respective discount if applicable.
- Website images, artwork, and widgets will be customized to highlight the upcoming release.
- Upon release:
- Booster packs will receive a final quality inspection. The collection will then go live on our website.
DESTINATION (NFTCG IN THE OTHERSIDE)
While some Voyagers come together to buy, sell, barter, and trade for what they need in the Otherside, others may instead try their luck going head-to-head in battle. NFTCG presents a reality where Voyagers in the Otherside can use their on-chain public keys of their physical trading cards to duel for in-game items. In this Otherside mini-game, voyagers duel with their chosen in-game items at stake.
𝕿𝖔 𝖙𝖍𝖊 𝖛𝖎𝖈𝖙𝖔𝖗 𝖌𝖔𝖊𝖘 𝖙𝖍𝖊 𝖘𝖕𝖔𝖎𝖑𝖘…
TIMELINE
This timeline’s starting date is subject to when the AIP proposal has been officially accepted by the DAO.
- Phase 1: [2 Weeks]
- Phase 2: [3 Weeks]
- Phase 3: [4 Weeks]
- Phase 4: [4 Weeks]
- Phase 5: [2 Weeks]
OVERALL COST: $55,885 in $APE
Total Cost: $55,885 in $APE
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Phase 1: Card Selection and Final Advisory Board [$0.00]
- Raffle for selected cards in collection and advisory board: $0
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Phase 2: Illustration & Designs [$4,630]
- Card illustrations and designs for each selected ape: $4,130
- Test prints and balanced gameplay testing: $500
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Phase 3: NFTC Chip Manufacturing, Calibrating, and EIP-5791 Creation [$42,230]
- Cost of encoded NFTC chips with OpenSea page integration: $5.95 * 6000 cards = $35,700
- Backend contract implementation for each of the 6000 encoded NFTC chips: $6,530
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Phase 4: Booster Pack Manufacturing and Packing [$6,645]
- Trading card manufacturing and holographic foil effects: $5,345
- Booster pack manufacturing and manual card organization and packaging: $1,300
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Phase 5: Website Developments and Launch [$2,380]
- Metamask integration and staked $APE wallet detector: $2,380
- Updated website features such as product images, rules and a collection breakdown: $0
PITCH DECK
Eighteen-slide pitch deck outlining our proposal:
NFTCG AIP Pitch Deck.pdf (1.3 MB)
PROPOSAL PRESENTATION
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