The value of Ible City
Ible City represents our community — those who build and support all things Ible. Our city is covered in smog from years of air pollution. Iblers must combine NFTs to merge plots of land to level up and remove smog from the city. Each higher level exposes a bit more of the expansive beauty that is Ible City. A portion of sales, and all royalties, go towards air pollution initiatives. Iblers not only clean the air in Ible City, but also the world around them.
Helping to bring awareness and clean up air pollution is worthwhile itself, but there is so much more to the Ible City collection. Let’s take a few minutes to dive into how we have constructed these utility NFTs to maintain strong value over time.
xNFT Concept
Ible City’s ultimate goal is to build community strength across multiple blockchains to promote our sovereign private key recovery product Trustible. Trustible is a cross-chain product that ensures your private keys, those keys that control your on-chain assets, are safe from loss. It secures these keys using a novel system of zero-knowledge circuits and proofs, advanced encryption, and a decentralized identity data vault.
Vendible requires a large, committed body of users to enter into a season of testing so that we can ensure that our user experience is simple and our processes are secure. We will also open-source our solutions during the testing phase so it is critical that we have a dedicated tribe of web3 innovators who have chosen to come around the project and support the vision and mission. Without this support, we are open to competition replicating what has taken years of careful construction and challenging us before we can own the space.
We define Ible City as an xNFT or Cross-Network Fungible Token. Ible City is one collection minted across multiple blockchains. Each NFT provides the same utility in Trustible and the Vendible network regardless of the network it resides. In addition, we are able to prove our xNFTs are fungible (individual units are interchangeable and possess the same value) due to the cross-chain merge function (you can merge NFTs from different chains). Merging plots of land will allow members to combine xNFTs from the same series, or different series on separate chains, to create a higher a larger property, increasing their level in the DAO, which opens them to higher rewards.
Value
Both the release schedule and mechanisms of the Ible City collection are designed so that each asset maintains a self-evident value over time. Vendible intends to be an enterprise-grade solution for years to come, so all of our designs must ensure long-term sustainability. Below is an outline of how Ible City, much like the VEND token, is the asset you will never want to sell.
Currently, Vendible is in the run-up to the start of testnet for Trustible. There are incentives for members to hold their assets both during and after testnet completes.
- Members primarily purchase the xNFT(s) in order to receive a multiplier bonus of the VEND token for their participation in testnet. This greatly increases the amount of VEND received compared to a general testnet signup from the website or other source. For each Ible City xNFT held by the tester, they will receive 1200 VEND (holding 5 xNFTs during testnet = 6,000 VEND tokens for participation). VEND will release to mainnet before the release of Trustible to mainnet.
- Members are issued a PFP for each Ible City NFT they hold — we call this collection Iblers. Iblers are the citizens of Ible City. We understand the popularity of having a profile image connected to a collection and few would want their profile to be a city, especially one hidden by smog clouds, so Iblers are a way to show pride in the community. Waiting for your Ibler is also another reason to retain your asset(s).
- Members with multiple xNFTs are incentivized to hold their assets until we near the completion of testnet. We will open the merge function in Trustible so that everyone has a chance to level up their xNFTs buy first claiming plots of land, moving them together, and then combining them to make larger properties to unlock greater discounts and rewards. Each time xNFTs are merged to a higher level, new rarer Iblers are created for the member as well.
- A large, committed community participating in testnet will lead to a strong launch on mainnet and healthy revenues. A referral program will help drive B2C growth while Vendible will begin open-source tools for wallet and dApp developers to offer private key protection services in their applications, further accelerating growth. Vendible shares a portion of its revenue with all Members with active Trustible accounts as part of our cooperative network. Ible City Members get a portion of this revenue share returned to them as VEND.
We know there are a lot of options out there in DeFi. It is our hope that this outline helps everyone in their decision making process. We invite you to explore, learn, and join our community.
Purchase your Ible City xNFTs on Algorand
