Hello! Thanks for joining us and taking the time to become more educated on VIBE NFT’s. VIBE NFT’S are the most advanced NFT’s that exist on the market today. And because they are so advanced, it requires knowledge to understand all you can do with VIBE NFT’s. From having your VIBE NFT backed with collateral, to taking out a loan on your VIBE NFT’S collateral. VIBE NFT’s have many unique components that make them so special and unique. There is a lot to learn, so let’s get started!
Table of Contents:
1.1 ~ What are VIBE NFT’S?
2.1 ~ VIBENet
3.1 ~ Collateral
3.2 ~ Collateral Accumulation
3.3 ~ Collateral Commission
3.4 ~ Collateral Distribution Pool (CDP)
3.5 ~ Lending VIBE NFT’s
3.6 ~ Collateral Release Option
4.1 ~ Take out Loan on VIBE NFT’s
4.2 ~ Credit System
4.3 ~ Rates
4.4 ~ How to be a Lender?
5.1 ~ Pools & Multi-Ownership NFT’s
6.1 ~ VIBENet Marketplace & Auction
7.1 ~ VIBERVERSE
8.1 ~ VIBE NFT Governance
9.1 ~ Future of VIBE NFT’S
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1.1 ~ What are VIBE NFT’s?
VIBE NFT’S are rare and unique digital collectibles that are backed with VIBE as collateral. From in-game assets to photorealistic 3D models, there are many types of digital collectibles in the VIBE NFT Ecosystem. What makes VIBE NFT’S the most advanced ecosystem in the NFT market is the back-end infrastructure VIBE NFT’S are built on. VIBE NFT’S are backed with collateral and the collateral accumulates over time just from holding.
If a VIBE NFT owner wants to take out a loan on their NFT, no problem! VIBE NFT owners have the ability to take out a loan on their NFT from lenders. The VIBE NFT Ecosystem offers first-time owners a risk-free buying opportunity. 100% of their buying price at auction is backed with their NFT as collateral, VIBE NFT owners can exercise their Collateral Release Option (CRO) once per quarter and get their entire collateral back! VIBE NFT’s are truly the ultimate digital collectible.
VIBE NFT’s are built using the VRC-3301 standard. VRC-3301 is the VIBE Ecosystem’s NFT standard. When our team was developing VIBE NFT’s, we quickly noticed both ERC-721 & ERC-1155 are very limited standards for the future of NFT’s. In order to have a very sophisticated architecture for collateral, loans, and Multi-Ownership NFT’s . Our team needed to create our own NFT Standard to push the NFT industry to new heights. In the future our team will make an ERC Proposal to bring the ERC Standard of NFT’s to new heights.
2.1 VIBENet
VRC-3301 NFT’S are built on the VIBE Ecosystem layer 2 solution, ‘VIBENet’. VIBENet is a layer 2 solution that is built on top of Ethereum and has interoperability across any blockchain. VIBENet facilitates instant and atomic transactions with no gas fees for any currencies integrated on the network. VIBENet is built with the framework in mind to be a foundation for Gaming companies, NFT projects, and any company that seeks fast and secure transaction speeds with no gas fees.
So far VIBE, LINK, NEO, and ETH are integrated onto VIBENet. There has been over 100,000 transactions on VIBENet resulting in over $20,000 U.S.D in gas fees saved and hours worth of waiting time. Our team is continuing to develop VIBENet and we are excited for what the future holds! Current VIBENet initiatives are:
- Video demonstration of transactions per second VIBENet faciliates
- Integrating BTC and BUSD
- Release Public Nodes
At the end of 2020 on the VIBE teams roadmap is to release the VIBE SDK. The VIBE SDK will mark the first time developers can build on top of VIBENet and enjoy all it’s features. We’re happy to announce we are adding a new module to the VIBE SDK, NFT Management. NFT Management will allow game developers and NFT creators to easily build out their projects, enjoy fast and secure transactions, and have their NFT’s be apart of the VIBE NFT Ecosystem.
Developers and creators can have their NFT’s backed with collateral, able to lend NFT’s, earn income just from holding, take loans on NFT’s and earn income from collateral distribution pools. VIBE NFT’s gives the community, NFT enthusiasts, developers, and creators the foundation for DeFi meets NFT’s. The VIBE SDK will be completely free and open source for anyone to use and contribute.
3.1 ~ Collateral Ecosystem
Every VIBE NFT is backed with VIBE as collateral. Whenever an auction takes place to determine first ownership, the buying price for the VIBE NFT is locked up as collateral. This makes VIBE NFT’s 100% backed with collateral for first-time owners.
Example:
VIBE team has an auction for VIBE NFT.
User pays X amount to win auction and ownership of NFT
X amount is locked up in collateral with VIBE NFT
3.2 ~ Collateral Accumulation
After first ownership is determined by auction, all trading of VIBE NFT’s will take place on the VIBENet marketplace. Users will place buy and sell orders at any price they wish like a traditional digital assets exchange. For every transfer of ownership (trade) there is a collateral accumulation for each trade. In total there are 3 ways VIBE NFT’s accumulate collateral.
3.3 Collateral Commission
All exchanges of VIBE NFT’s will happen on the VIBENet Marketplace. Whenever users exchange VIBE NFT’s, 2.5 percent is added to the collateral.
3.4 ~ Collateral Distribution Pool (CDP)
For every transfer of ownership on a VIBE NFT, 2.5% of the sale price is contributed to the Collateral Distribution Pool (CDP). The CDP gets liquated to all VIBE NFT holders Monthly. The percentage that gets distributed to owners is determined by the collateral on their NFT. The higher the collateral locked into your NFT, the larger percentage of the CDP you receive.
Example:
User A has 1,000 VIBE locked up as collateral
Total Collateral Distribution Pool is 10,000 VIBE
User A receives 10% of Collateral Distribution Pool
Formula: Owners collateral / Total Collateral Distribution Pool = Amount of CDP received
Collateral Commission and CDP Example:
User A sells VIBE NFT for 100 VIBE with 50 VIBE as Collateral
User B buys VIBE NFT for 100 VIBE
2.5% of sale price goes to the Collateral Commission and 2.5% goes to CDP
User A receives 95 VIBE
User B receives VIBE NFT backed with 52.5 VIBE as Collateral and receives their percentage of the Collateral Distribution Pool with 52.5 VIBE apart of the pool
3.5 ~ Lending VIBE NFT’s
Owners can loan their VIBE NFT’s to users in the VIBE Ecosystem. Revenue generated from loaning their VIBE NFT is added to the collateral.
Example:
User A places their VIBE NFT which is a 3D model on loan for 24 Hours time periods at any price they wish.
User B pays asking price and gets to use the 3D Model within the VIBE Ecosystem.
All revenue generated through loaning your VIBE NFT is added to your NFT’s collateral. Increasing it’s value.
3.6 ~ Collateral Release Option (CRO)
After every 90 days from receiving ownership of VIBE NFT for a period of 48 hours. Owners can exercise their Collateral Release Option (CRO). Owners who exercise their CRO receive the collateral that their VIBE NFT is backed with. The VIBE foundation then receives the VIBE NFT and places it in a secondary auction.
Example #1:
User A buys VIBE NFT at auction for 100 VIBE
The auction date has ended on January 1st
From April 1st-April 3rd User A has the option to exercise their CRO.
User A decides to use their CRO and receives the 100 VIBE collateral
Example #2:
User A buys VIBE NFT at auction on March 1st
User A sells VIBE NFT to User B on October 1st
All collateral is transferred to User B and now User B can exercise their CRO every 90 days from that day.
4.1 ~ Take out loans on VIBE NFT’s
Take out a loan against your VIBE NFT Collateral
VIBE NFT owners can take out loans against their collateral. Owners can take loans from lenders for 50% of their collateral amount.
Example:
- User A buys VIBE NFT at Auction for 100 VIBE
- User A applies for loan of 50 VIBE
- Lender loans User A 50 VIBE
- User A now is the owner of VIBE NFT with 100 VIBE as collateral and 50 VIBE loan
What happens if owners don’t pay back loan?
If owners don’t pay back loan, owners lose their NFT and entire collateral. The lender who loaned owner VIBE is funded with VIBE NFT and it’s collateral
Example:
- User A owns VIBE NFT with 100 VIBE as collateral
- User A takes out a loan on VIBE NFT for 50 VIBE
- User A does not pay back the loan to the lender
- The lender is now the owner of VIBE NFT with 100 VIBE as collateral
4.2 ~ Credit System
The VIBE NFT Loan Ecosystem has a credit system for VIBE NFT Owners. All owners start with the ability to take a loan of 50% their VIBE NFT Collateral. For every successful loan VIBE NFT owners complete, their loan amount increases by 5%. A perfect credit score in the VIBE NFT ecosystem is the ability to take loans amounting to 80% of their VIBE NFT’s collateral.
Example:
- User A owns VIBE NFT with 100 VIBE as collateral
- User A takes out the first loan on VIBE NFT for 50 VIBE
- User A pays back the loan to the lender in the required timeframe
On User A next loan, they are able to take a loan for 55% their VIBE NFT Collateral. For each successful loan, their loan amount increases by 5%. Maximum 80%.
Credit System Classes
50% — Class F
55% — Class E
60%- Class D
65%- Class C
70%- Class B
75%- Class A
80%- Class AAA
4.3 ~ Rates
On VIBE NFT loans there is a 3% adjustable monthly rate. 2% is paid to Lender and a 1% commission fee to VIBENet.
Example:
- User A owns VIBE NFT with 100 VIBE as Collateral
- User A has a class B Credit Rating and takes a loan for 70 VIBE
- User A pays back the loan to Lender for 70 VIBE plus additional 1.4 VIBE to Lender and 0.7 VIBE Commission Fee
Total Cost to pay back loan 72.1 VIBE
4.4 ~ How to be a Lender?
Anyone in the VIBE Ecosystem can be a Lender. VIBE NFT owners post their loans in the VIBENet marketplace and any can take on the loan as long as if they have the required VIBE in their VIBENet Virtual Wallet. VIBE NFT Loans offer lenders risk-free and guaranteed revenue. If Owners don’t pay back loans, Lender makes 20% to 50% above the lending amount depending on Owners Credit Rating. If owners pay back the loan to the lender, the lender makes a guaranteed 2% Monthly revenue on the loan amount.
Example 1:
- Lender loans 50 VIBE to User A with 100 VIBE locked up on VIBE NFT as Collateral
- User A does not pay back the loan to Lender
- Lender Receives VIBE NFT with 100 VIBE as collateral
Because the Owner did not pay back the loan, lending goes from loaning 50 VIBE, to now owning 100 VIBE
Example 2:
- The lender loans 50 VIBE to User A
- User A pays back 51 VIBE to the lender
- The lender receives the original loan amount back plus a 2% interest rate of the loan amount.
2% of 50 VIBE is 1 VIBE
5.1 ~ Pools & Multi-Ownership NFT’S
When buying a VIBE NFT at auction. Users can pool their VIBE together to acquire a VIBE NFT. The amount you contribute to the pool is the percentage of the NFT you will own. Any revenue the VIBE NFT generates while you’re an owner, you will receive a percentage amount based on how much of the VIBE NFT you own. If any owner decides to sell their VIBE NFT, the new owner becomes apart of the pool and they now receive the percentage of revenue the VIBE NFT generates. For in-game assets, all contributors of the pool will be able to use the VIBE NFT within VIBEVERSE and other future games & applications.
Example:
- User A contributes 25 VIBE to the Pool
- User B contributes 50 VIBE to the Pool
- User C contributes 25 VIBE to the Pool
Total Amount to acquire VIBE NFT is 100 VIBE
- User A owns 25% of VIBE NFT
- User B owns 50% of VIBE NFT
- User C owns 25% of VIBE NFT
6.1 ~ VIBENet Marketplace & Auction
The auction is where VIBE NFT owners buy VIBE NFT’s for the first time. Users participate in an open ascending price auction where the highest bidders win the VIBE NFT. VIBE NFT’s auctions last for 7 days and there is no limit to how many bids each user can make. VIBE is the only currency used to make bids in the VIBE NFT Ecosystem currently. To showcase the interoperability of VIBENet or work with other projects. We may uses other various tokens and currencies in the future!
The VIBENet marketplace is where VIBE NFT Owners and potential buyers go after the auction has ended to exchange the VIBE NFT on the secondary market. Owners can sell their VIBE NFT on the VIBENet marketplace to new buyers. In addition to exchanging their VIBE NFT, VIBE NFT owners can lend their NFT and take out loans on their NFT on the VIBENet marketplace. All transactions made on the VIBENet marketplace are instant with no gas fees. A great benefit of the VRC-3301 standard. Thus far $20,000 U.S.D has been saved in 100K transactions.
7.1 ~ VIBEVERSE
The VIBEVERSE is a browser based game available on PC, MAC, and Linux! Any user with an internet connection can play! The VIBEVERSE is where VIBE NFT’S can be used and showcased. Users can travel throughout the VIBEVERSE to various solar systems and planets to take in all the VIBE NFT’S that the VIBEVERSE has to offer! In the future VIBE NFT’S will open up to game developers, artists, and creators to publish their own NFT’S in the VIBEVERSE. An open universe with games, NFT’S, and entertainment on various planets is what the VIBEVERSE delivers.
Join an army of VIBEIANS to become the most powerful planet in VIBEVERSE. Using advanced space aircraft with speeds faster than the speed of light. VIBEIANS travel through the VIBEVERSE to form alliances with other planets or raid them of their resources. The most powerful planets in the VIBEVERSE are those with the largest army of VIBEIANS to build out it’s resources and defend their planet from being raided. Use your planets resources to earn all the treasures you will find within your planet. But be aware, the more powerful your planet, the bigger army you’re going to need to defend it.
VIBEVERSE is made of precious minerals, elements, and metals. The most important and the element that drives the advancement of VIBEVERSE is named ‘VIBEREUM’. VIBEREUM is used to power planets, provide water, fuel
spacecraft, and mine for sacred treasures. The only problem for citizens of the VIBEVERSE is VIBEREUM can’t be found anywhere in the galaxy. Citizens must collect various minerals and elements to fuel their Refinery to produce VIBEREUM and use it to power their planet, aircraft, and mining operations.
VIBEVERSE is made up of 25 different planets and rapidly expanding. Planet owners are the most powerful citizens in the VIBEVERSE and ultimately choose the direction they want their planet to take in its evolution. Planet owners get a share of all profit the planet produces. Whether it’s from mining operations or entertainment on their planet, VIBE planet owners are the highest of hierarchies within VIBEVERSE.
Civilians of VIBEVERSE choose how they want to take part in its evolution. Citizens pick their role in the heiarchy and it’s up to them to move up the hierarchy within the VIBEVERSE. Science and Exploration, Military, and Industrial Builders are the 3 roles within the VIBEVERSE.
Science and Exploration
VIBEIANS collect precious metals and minerals to produce VIBEREUM. In order to expand the VIBEVERSE and your planets resources, travel the VIBEVERSE and collect all it’s hidden treasures.
Military
VIBEIANS defend their planet from invaders and explore the VIBEVERSE for planet invasions. Set up bases and defensive weapons around your planet to defend potential invasions or attacks.
Industrial Builders
Build mining operations, refineries, and cities to become the most powerful planet in VIBEVERSE. Industrial builders also build military bases & defensive artillery.
Civilians within the VIBEVERSE choose a planet to call their home with the approval of the planet owner. Civilians earn a share of the profits on the planet by how much value they bring to their planet. Like with life before VIBEVERSE, you can’t do everything by yourself in building a planet.
Planet owners need citizens to earn maximum profit and drive the expansion of their planet in the VIBEVERSE.
As beautiful as VIBEVERSE is, there is bound to be darkness. Planets can decide raid other planets with weak defense to steal the precious VIBEREUM, treasures, industrial buildings, mining equipment, and the sacred currency of the VIBEVERSE, VIBE. While some planets will have a truce and form alliances with other planets, ultimately the VIBEVERSE is not entirely peaceful for its civilians. Invading other planets is for the ambitious with a well equipped military in place.
But make sure your raid is planned and well-executed, retaliation is inevitable. Communicate with your planets civilians, arm your military with the most advanced weapons & artillery and set out to raid a planet to steal their resources to rapidly expand your planet’s power within the VIBEVERSE.
Parts of the VIBEVERSE is neutral territory to enjoy entertainment in the galaxy. Citizens of the VIBEVERSE travel to different planets to enjoy the entertainment the VIBEVERSE has to offer. Crypto FPS planets, Casino planets, Beautiful Cities, museums, and galleries. The VIBEVERSE is always expanding and can provide entertainment for any citizen within the galaxy.
8.1 ~ VIBE NFT Governance
Loans
VIBE NFT holders vote once per month to determine the increase/decrease of VIBE NFT Loan Interest Rates. The more VIBE NFT collateral owners have, the more votes they have in VIBE NFT Governance.
Example:
Current Interest Rate on VIBE NFT Loans is 2%. VIBE NFT owners vote to determine 3 possible outcomes:
1) Increase VIBE NFT Interest Rates from 2% to 2.5%
2) Stay neutral
3) Decrease Interest rates to 1.5%
Collateral
All VIBE NFT owners can vote once per quarter to determine the collateral accumulation percentages and time period for the Collateral Release Option.
1)Increase/Decrease amount that goes to CDP
VIBE NFT Owners can vote to increase/decrease the 2.5% of the sale price that goes to the CDP.
2)Increase/Decrease amount of sale price that goes to Collateral Commision.
Owners can vote to increase/decrease the 2.5% of the sale price that goes to collateral.
3)Longer/shorter times between CRO periods
Owners vote to determine length of time between Collateral Release periods.
1 VIBE counts as 1 Vote. There is no maximum amount of Votes per user. Users are not deducted VIBE for submitting Vote, all votes are free to submit.
9.1 ~ Future of VIBE NFT’s
The VIBE NFT Ecosystem is only going to get more advanced over time. The first module for the upcoming VIBE SDK is ‘NFT Management’. The NFT Management module will allow game developers, artists, and creators to easily build on the VIBE NFT Ecosystem and enjoy all its components. It will also be equipped with the VIBE WEBGL Editor. Now developers, creators, and artists can easily build assets and artwork directly in the VIBE Ecosystem using the VIBE WEB GL Editor. Finally, our team will release a Mobile AR app where VIBE NFT owners can view and play with their VIBE NFT’S in augmented reality on their mobile devices! Mobile AR Apps are going to become the future of Mobile Apps. The NFT markets need to be apart of that and the VIBE team is happy to be one of the pioneers in the space!
Thank You all for your continued support. If you have a comments or questions for the VIBE team. Join our Telegram channel below!
