Stargate NFT Black Friday Announcement!
Happy Black Friday! We have some huge announcements to share with you guys and update you on the project’s progress. We want Stargate to be the strongest community so you should be kept in the loop. We hold transparency in the utmost importance, and we will continue to uphold that standard if we want to be a pioneer in the Web3 future. There’s a lot of reading here, so sit tight.
ABOUT US
Whether you came for the art or for the utility, let me quickly explain Stargate and why you want to be a long-term believer. Stargate is the NFT project of a broader Web3 company called Sidechain (https://sidechainme.com/), founded by the same members. Sidechain’s goal is to disrupt the live events industry by creating Solana blockchain powered NFT ticketing and rewards.
How does this compare to current solutions? If you have ever used Ticketmaster or StubHub, you will know the user experience sucks and they take a 35%-50% take rate on each transaction while not giving any loyalty or rewards points for using their platforms (compared to rewards you get for ordering UberEats, booking on Expedia, etc.). If you have ever bought or sold a ticket on Facebook marketplaces or on Reddit, you don’t know if your ticket is legitimate, if the person you’re buying from is real, and if you’ll get scammed right after you Venmo or PayPal. Sidechain solves this by utilizing the Solana blockchain and smart contracts to enable trustless peer-to-peer exchanges. This means once both conditions are met in a transaction (money and tickets), then the smart contract will execute the exchange of goods. Transaction fees will be significantly less than our Web2 competitors.
We are issuing rewards in the form of a token called Sidechain Clout. This can be earned through buying tickets, attending events, staking, and interacting on our platform. When we become a pure DAO, Sidechain Clout will be your token used to vote to make community changes. Early adopters will be rewarded with more Sidechain Clout and transactions made from people you refer will generate passive Sidechain Clout earning. You can also stake Sidechain Clout to influence festival lineups and promise to attend given the artists you stake for are included in the lineup. If you do not buy a ticket to that festival having staked your Clout on a particular artist, your Clout will be forfeited. Food and security vendors will stake their Clout to win festival contracts and to promise that they will deliver. Event organizers will stake their Clout to promise tragedies (like Astroworld), will not happen on their watch. Your NFT tickets, that you purchase through Sidechain. Organizers and artists can see who is most loyal to them and can airdrop personal rewards and exclusive NFTs.
More community governance decisions will be added as we draw closer to full decentralization. You can see examples of this like how ENS rewarded its domain holders and users with tokens once they found the right time to decentralize.
This is where Stargate comes in. Not only will Stargate holders be given access to our member-only bars and lounges & exclusive discounts and rewards to our partnered venues and events, but you will also be able to stake your NFTs to generate Sidechain Clout. So in proportion to someone without a Stargate NFT, your token allocation and ownership in the decentralized Sidechain future will be much greater.
We are creating this community-owned marketplace that solves the user experience and high take rate problem, while empowering users to participate in the upside of being an early adopter. Imagine if the first people to become Uber Drivers were given equity for being early adopters, Sidechain is rewarding this in Web3 through becoming a DAO. We are solving the artist, organizer, and venue problem of being able to sell out shows and effectively market their events.
You can start earning Sidechain Clout by creating a Sidechain account, interacting in the content we’ve built, and by logging in each 24 hours and spinning the Daily Spin wheel. You can see your leaderboard standings and how many tokens you will receive once we fully launch.
The team has been working hard to make this vision and product a reality. We were founded in May 2021 and have made significant strides in product development, having launched our MVP in late October.
STARGATE MINT
Internally, we had targeted a January mint. However, the best time to mint is if these two conditions are met: 1) art and mint infrastructure is ready, 2) enough demand to sell out. We will have the art and infrastructure ready, but the Solana NFT fatigue seems to be hitting projects extremely hard right now. We also don’t want to have an underwhelming mint because we need to raise enough proceeds to fund our promised roadmap and to give early holders a healthy secondary market.
We think the best timing to achieve a successful launch will come when Coinbase releases their marketplace to their 73M+ users. We need new eyes in the Solana ecosystem and these past couple months have shown that 1) people have grown skeptical to new mints due to rugs / derivatives, and 2) people don’t have the spending power that they did few months ago.
We pride ourselves in creating our own original concept and utility. We have essentially created 7 different NFT projects with our 7 starships, but combined into 1 collection. We’re not here to take your money and give a mediocre product — the money that is raised will equal to the quality of the product.
Our thesis is that live events and ticketing will be the greatest introduction of NFTs / blockchain to the world. Our Stargates, because they will only be accessible if you own our NFT, will be the catalyst for your average person to understand the purpose of tokenized ownership. It explains why you cannot just copy paste a JPEG and expect to receive the same real world utility. The biggest problem, compared to Metaverse projects or NFT video games is that we require significantly more capital to build rather than raising money to pay devs/ artists. The good thing is that because we have Sidechain, we don’t need to use mint proceeds to pay ourselves and it can all be reinvested into the project.
BLACK FRIDAY DEAL
We also wanted to show traction and announce our first music festival partner, Dreamworld Fest, to give future rewards and discounts to our community. They’re hosting a charity music festival in San Francisco, next Friday so even if you cannot attend, ticket proceeds will be donated to a good cause.
To get our flywheel started and show the incentivization power of Web3, Stargate is having a Black Friday deal! If you sign up for Sidechain (https://sidechainme.com/) and purchase a ticket to Dreamworld Fest after clicking the “Purchase on Tixr” link, fill out this form (https://forms.gle/HwA4FRyiUvzVeWiS9) and we will airdrop you 3x the number of Stargate NFTs you mint, issue you a stakable Dreamworld NFT collectible, reward your account with 1,000 Sidechain Clout. We want to reward our early members, allow you guys to be our biggest advocates, and give a head start on collecting all of our Starships!
