8/1 — VaynerSports Pass Highlights of the Week: Black Card Exclusive
Just weeks away before the Black Card auction gets kicked off and since we have learned so much recently I thought it would be best to do a BLACK CARD EXCLUSIVE! This article will focus solely on the Black Card and will provide you everything that we know about it so far! Let’s dive into it.
What is Black Card?
Black Card is a new NFT collection entering the VaynerSports Pass ecosystem. It will be on a separate contract and have its own unique utility.
Who is Eligible?
All VaynerSports Pass holders are eligible to enter into the auction for the Black Card, but there will only ever be 70 Black Cards in circulation.
How do I get a Black Card?
The only way to acquire a Black Card is by burning your VSPs 🙀
Let me explain:
Each VSP will have a “point” value associated with it (see graphic below on Black Card Math). You will have the ability to bid on the Black Card using your VSPs. The holders that bid the most “points” will receive a Black Card, and all of the VSPs that they used to bid will leave their wallet and be burned! Therefore, the supply of the VSP collection will decrease. Keep reading to learn more about the auction style of the Black Card event and how the point system will work.
How Many VSPs do I have to Burn to win?
The exact number is unknown, as it will depend on how many other holders are willing to bid and burn! So the short answer — The market will decide. More details on this later in the article.
Tell Me More About Black Card
Black Cards will be released via a public drip auction, where the value of each bid will be measured using a point value system. For the first auction, only the top 10 individuals that bid the most “points’’ will be able to secure a Black Card. When the auction is live all bids will be publicly visible. Every Black Card will be assigned an ID number — the strength of the Black Card will be correlated to the lower the id number is (#1>#10 and #10>#23 etc..).
What is a Drip Auction?
A drip auction is an auction that releases an NFT collection in waves. The winners of each wave are determined by the 10 best scores which is calculated through the point value system. For the Black Card there will be 6 waves, each with 10 Black Cards that holders can bid on.
There will only be 6 waves as opposed to 7 due to the fact that 10 Black Cards (#61–#70) will be held in reserve by the VSP treasury.
More content explaining the auction style will be released before the auction goes live.
What is this Point Value System?
The point value system that will be used to determine the top 10 scores in the drip auction is depicted below and was created specifically for the Black Card. As you can see, each VSP has its own point value associated with it so be sure to reference this when making your VSP purchases.
NOTE THAT THE BLACK CARD POINT VALUE SYSTEM HAS NO CORRELATION TO OUR RAFFLE TECH MATH!
If you want an easy way to check out your total Black Card points check this tableau put together by timf (enter your wallet address on the right under ‘Card’ — the total will appear under the table)
How do I win a Black Card?
For each wave in the auction you are able to participate by choosing which VSPs you would like to burn. The top 10 scores (based on the point value system) at the end of the waves will have their VSPs burned and will receive their Black Card NFT. This won’t be instantaneous as the team will be doing manual auditing to ensure that no wallet tampering occurs.
You will have a chance to enter each of the 6 waves — therefore 6 chances to be in the top 10 scores however, the Black Card will be limited to one per wallet.
What Happens if I Enter the Auction but I lose?
At the end of the auction window for that wave, if you are not in one of the top 10 highest scores, then nothing will happen to your VSPs and they will not leave your wallet.
What Does it mean to Burn your VSPs?
NFTs that are burned are rendered unusable, which means that they cannot: enter raffles, mint partner mints, be bought/sold and cannot participate in any other actions. We’ll be releasing more content explaining how the burn will work for this event.
You can learn more information about burning here
The purpose of the Black Card event is to make the VSP collection deflationary. Meaning that when a VSP gets burned, the total supply of the collection will reduce from the current 15,555. This provides value to all VSP holders whether they enter they are participating in the Black Card event or not.
What is the Total Supply & Utility of the Black Card?
The total supply will be 70 Black Cards. The utility at this time is unknown but details will be disclosed, before the auction goes live!
When Does Wave 1 of the Auction Start and how Long will it Last?
The dates are yet to be finalized, but expect it to start the third week of August and span into September. The team will be posting announcements in their Discord and on Twitter once the dates are finalized.
Conclusion
The goal of the Black Card is to reduce the current 15,555 supply of VaynerSports Passes. The team is incentivizing this burn by including unique utility to the Black Card. More info regarding Black Card utility will be coming next week!
Yours truly,
NFTLoverBoy
