Early birds bonus and more
ThetaTeeth never wanted to be another “just pictures” collection of NFTs, that’s why we consulted an economist to work with our financial model. Amongst many other important aspects of a successful NFT project, lies the value-building process for the collection holders.
Essentially, for any good or service, NFT included, a person would enjoy purchasing if and only if, this particular good would provide more satisfaction than holding the ‘money’ would. In simple terms, one would buy anything for $1 if they would expect it to be of a greater value than $1 to them, either from possessing and using it, or by re-selling at a later date. That is why NFT (and not only) projects enjoy so much to have various promotions and drops, as the expected payout of an asset for the holders increases, hence making people more inclined to buy them.
This idea brings us to the realization that some value should be generated by the project to the holders, the question is ‘when?’. To answer this, again, one must refer to economics.
Not to delve much into various economics models, we can simply say that everyone’s patience is different and while some are happy to wait for a year, others are looking to quickly flip their asset to make some profit. So, how does all that relate to ThetaTeeth?
As planned per the later phases of the project, as well as the next global steps (2 projects with exclusive terms of access to the ThetaTeeth holders, Sandbox etc.), the value of the original ThetaTeeth collection is expected to grow due to the long-term benefits that the holders would receive.
However, to give some additional immediate gratification to the holders, we have decided to introduce not one, but two additional mechanisms. The first is very straight forward — incremental increase in the minting price would push the floor price higher, thus making the owners of the earlier stages be at a greater advantage and earlier.
The second mechanism is somewhat unique, or at least not as widely spread in NFT communities. It is what we called the ‘Early bird bonus’, which essentially works as a cashback system. Effectively, those who enter at Tier 1 would be receiving a % of every single NFT from the collection sold from Tier 2 onwards. Tier 2 holders would be receiving a % of all sales from Tier 3 and so on. The bonuses will get distributed only when the consecutive stage is sold out.
In addition to the above, the entire collection, which represents a collection of ‘ancient tokens of membership’ is eligible to receive exclusive terms of entry to the next two (already in the works) projects, as well as some cashback from them too. All-in-all, these mechanisms aim to create direct financial value to the holders, both immediate and long-term and to show that our team, indeed, believes in Theta Network, as well as plans to build its own universe within crypto and NFT spaces.
And of course, we have not forgotten about airdrops and exciting prizes to commemorate our supporters! In fact, some of our airdrops would include some valuable and famous NFTs from other projects and even tangible prizes. Stay tuned to our social media to make sure you don’t miss out!
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