The Solana NFT market surged in the second half of 2021 from almost nothing to a peak of $1.2 billion market cap in October. Since then, it has suffered a severe drawdown. We believe four factors explain this drop:
· The price of SOL has declined significantly with the crypto market;
· The market is oversaturated with many poor quality NFT projects;
· Projects are underfunded as proceeds are taken for personal gain;
· Multiple scams in the space have eroded the collector’s confidence.
To succeed in this fast-paced environment, we had to go back to the drawing board and assemble a project that would tick all the boxes: high-quality art, good utility, and a top-notch team. In this litepaper, we cover the proof of concept of our plan.
World of Solana is an NFT project inspired by Solana, the fastest blockchain with great scalability, security, and composability. Our mission is to create a friendly community to advance the network and its ecosystem.
To do so, we are launching our original NFT collection of 2,222 unique Solana blockchain heroines fighting for freedom. We are looking forward to fulfilling our mission by pursuing three paths: premium artwork, art-related utilities, art-related projects.
BTG is World of Solana’s co-founder and art director. She is a famous female artist with more than 791K followers across her social media. This collection of 2,222 NFTs will represent Gen 1, have over 120 traits, and be split into three categories:
2,050 NFTs = 100% Whitelisted pre-mint
160 NFTS = Kept by World of Solana
12 NFTs = Legendary 1:1’s post-mint
BTG will also create these types of artwork post-mint:
1.1. Seasonal Traits
BTG will release seasonal mini-collections of traits mintable from our virtual store in exchange for $WOS tokens. These traits will be swappable on our Gen 1 NFTs.
BTG will create full illustrations for some of the World of Solana lore chapters. These illustrations may also be for sale in our virtual store in exchange for $WOS tokens.
2. Art-Related Utilities
This premium artwork project will be complemented with various art utilities. We have hired a talented blockchain developer with DeFi experience, to create the following utilities:
2.1. $WOS Token
The $WOS token will be made via the Solana Labs spl-token-cli. We may add a custom market for the $WOS token on Serum. We will consult a lawyer for regulatory compliance.
There will be 1,000,000 $WOS tokens at inception. We expect all these tokens to be distributed within 12–15 months of staking with an assumption of 75% NFTs staked.
Please find below the tokenomics for our $WOS token:
We are introducing the ability to stake and earn $WOS tokens for a simple reason: incentivize our collectors to hold their NFTs and reduce secondary listings.
We will offer only one staking scheme: No locking that earns 1.1 $WOS/Day. We are open to introduce new staking schemes that would consider the rarity.
2.3. Virtual Store
BTG will periodically create new seasonal traits for the collection and bundle them into loot boxes. Those seasonal loot boxes can be purchased exclusively with $WOS.
Collectors constantly staking will have enough $WOS needed to mint 4 times the seasonal mini collection after 91 days. (91 Days * 1.1 $WOS/Day = 100.1 $WOS).
They will exchange 25 $WOS for 1 NFT containing a random seasonal trait attribute. Each of those will have a rarity ranging from common to legendary.
The seasonal loot box contains 1 trait. If the buyers are unhappy with the trait received, they will have the option to burn it and be refunded half the amount spent.
Raffle tickets will also be sold in the store. The prize will be one of the legendary 1:1s. We plan to regulate the token economy with trait burning and raffle tickets.
2.4. NFT Customizer
The idea is simple, traits from loot boxes will be swappable with the existing traits of the Gen 1 NFTs. Doing so requires smart contract and back-end experience.
Ideally, we would like it if the old trait becomes its own tradable NFT. But this is still up to technical discussion with our developer as we get a working prototype.
2.5. Gallery & High-Resolution Downloader
The Gallery will showcase the collection. This feature will be accessible to everyone. It will allow the filtering of traits so collectors can identify their favorite.
The NFT images have been downsized to a 2000x2000 pixels resolution for Arweave. Collectors will be able to download a 12k high-resolution image hosted on AWS.
3. Art-Related Projects
3.1. New Blockchain Heroes
The World of Solana sci-fi/fantasy lore takes place between the real and the virtual world. In her adventures, Solana will interact with other blockchain heroes like Ethereum.
The plan is to eventually release a Gen 2 World of Ethereum, on Ethereum. To reward stakes of the Gen 1 collection, $WOS could be used to purchase the Gen 2 at a discount.
3.2. Metaverse Integration
World of Solana will be seeking to integrate into existing metaverses. We are currently in discussion with Sovana to design and add the character Solana into their pixilated metaverse.
We will also be seeking out other metaverses for integration with in the future. We want to build communal spaces for our members to hangout, network, socialize and have fun.
20% of secondary sales royalties, up to $25K, will go to the International Conservation Fund of Canada (ICFC), an NGO aiming to conserve natural ecosystems and biodiversity in the tropics and where wildlife diversity is at risk.
Why did we choose that specific NGO? Because:
· They have audited annual financial statements;
· They are graded “A” for their results achieved*;
· 93% is going to the cause for each dollar.
* The Charity Intelligence Canada gives this grade.
Make sure to follow our official accounts for updates:
· Website: https://worldofsolana.io
· Twitter: https://twitter.com/worldofsolana
· Discord: https://discord.gg/worldofsolana