How NFT-backed editions can be a game changer in the 1-on-1 art space, and in giving back to the community: A case study of 0xMJ
Community is everything in Web3. And the most active communities are often the most incentivized.
But rewarding community members is often challenging for artists as they are unsure what to reward their holders with. This case study explains how we solved this challenge for 0xMJ with NFT-backed editions.
Who is 0xMJ
0xMJ got involved in Web3 in 2020 through a stroke of luck — someone reached out to her on Facebook and told her she could sell her artworks as jpegs.
0xMJ is an Indian artist who creates stories through her art. She is also a chess player who desires to explore human understanding and choices.
Her works are based on themes of mental health, chess, and dichotomies of life.
About Diwali Lights
Diwali is a festival of lights; for 0xMJ, it’s also a day of gratitude. It’s a day she says thank you to everyone who’s brought a shine to her life, and most of these people are her holders who supported her even when she was unknown.
In a spirit of gratitude and celebration, 0xMJ has been minting and giving away Diwali art pieces to some true holders since she got into web3 (2020).
On 24th October, Diwali day, 0xMJ minted a Diwali piece called ‘Diwali Lights’ to celebrate the victory of light over darkness and reward her community members. But this time, she did something different and even more memorable.
She partnered with us to editionize and distribute NFT-backed editions of Diwali Lights.
How Diwali Lights is different from other 1-on-1 art drops
The major difference between Diwali Lights NFT from other 1-on-1 art drops is that
Diwali Lights NFT has several different editions that lots of people can own collectively.
Unlike other 1-on-1 art drops that can only be owned by a single person.
Also, NFTs with several editions (for example, Diwali Lights) are much cheaper than traditional 1-on-1 art drops. This reduces the entry barrier for small time collectors, making it possible for them to own the art they love.
These are some of the reasons 0xMJ decided to partner with us on this campaign.
She knew we had the unique features to make her goals possible. So instead of making a 1-on-1 art, she decided to editionize an NFT and created editions that many individuals can collectively own.
How Diwali Lights work
After minting Diwali Lights, 0xMJ editionized it on our platform by locking it in a smart contract vault and producing ERC-20 IONs. Then we wrapped the IONs to produce ERC-1155 NFT-backed editions of the parent NFT.
After that, we airdropped the editions to all holders of 0xMJ’s previous NFTs. The editions have their own unique IDs and metadata.
How we distributed the NFT-backed Editions
The amount of IONs a community member got depended on the number of 0xMJ’s previous NFTs they held.
We prepared different editions for this. Here they are:
Edition one (1 0xMJ’s previous NFT)
This edition is for holders of just one of 0XMJ’s previous NFTs. We sent it to the wallets of people in this category.
Edition two (2 0xMJ’s previous NFT)
We sent this version of the NFT-backed edition to the wallets of everyone in this category.
Edition three (3 0xMJ’s previous NFT)
This edition is for people with three 0xMJ’s previous NFTs.
We sent it to the wallets of everyone in this category.
Edition four (4 0xMJ’s previous NFT)
This edition is for holders of four 0xMJ’s previous NFTs. We sent it to the wallets of everyone in this category.
Edition five (5 0xMJ’s previous NFT)
This is the highest type of editions created, and is very similar to the parent NFT. We reserved it for holders of five of 0xMJ’s previous NFTs. We sent it to the wallets of everyone in this category.
How to buy Diwali Lights
There are two ways to buy Diwali lights NFT
On Nibbl
To get Diwali Lights on our platform, you have to follow the following steps
Step one
Go to polygon.nibbl.xyz and connect your wallet.
Step two
Buy some Diwali Lights ERC-20 IONs with Matic.
Step three
After buying some IONs, the next step is to wrap them. To do this, first select ‘Editions,’ the edition you get depends on the amount of ERC-20 IONs you have.
If you have a single ION, then you’ll only be able to mint a Edition 1, and so on.
On OpenSea
You can also head over to OpenSea and place a bid for the Diwali Lights editions of your choice.
How is this partnership going?
Why don’t we let 0xMJ and her community members tell you how this partnership is going:
Conclusion
0xMJ, and we understand that community is the most important part of web3. Nothing grows without an active community. So, to show gratitude to her community members, 0xMJ decided to do something unique by partnering with us and giving them NFT-backed editions.
And in barely a month, we can see that this partnership has been fruitful.
Useful links
Learn more about Nibbl by visiting our website. You can also join our Discord and Telegram. Follow us on Twitter.
Check out the medium article with the details of our partnership with 0xMJ.
Follow 0xMJ on Twitter, Instagram, and Medium. Check out her creations on AsyncArt, OpenSea, Foundation, KnownOrigin, and Rarible.
