Non Fungible Tokens.

A unique digital token that contains data stored in code through the blockchain. The data stored could include pictures, videos, music, etc. The blockchain, in simple terms, is a chain of blocks that contain every single transaction ever made.

A polarizing concept that has made headwinds in the art and finance sectors. Some see them as an opportunity, while others see them as meme-worthy JPEG pictures. Whatever the case may be, people have their skepticisms. Since the boom of the NFT sector, there have been bad business practices that have stained the industry.

The Dilemma:

Rugpulls

One of these practices is called “rugpulls.” Individuals and groups would create a NFT collection, sell their project’s vision or “roadmap” by generating hype, build up a community, and finally run off with the profits made leaving no trace behind. This leaves the community holding “bags”, or assets that have no value or utility. It has happened time and time again. There are even crypto sleuths dedicated to ousting those who rugpull their communities.

Distrust in NFT influencers

Another one of these practices is to field NFT influencers within the space. Projects would take advantage of the influencer’s clout and communities through incentivized means. These could include free “mints”, exclusive “whitelist” opportunities, or paid promotion through cryptocurrencies. After successfully building the community and gathering enough hype around the project, projects would then “rugpull” their community leaving the influencer as a scapegoat. You now have an influencer with a bad reputation, and a community that has been scammed - both left with a dissatisfaction towards NFTs. Because this situation occurs so often, there is a negative stigma attached to NFTs endorsed by influencers. This should NOT be the case. There are several aspects of influencer culture that NFTs can enhance, as well as help to connect their communities in unique and innovative ways.

Greater Fool Theory

If you have not heard of the Greater Fool Theory, then we suggest you learn about it. In short, it is the promise of future gain. This is a MAJOR red flag because you are basing the value of the product in the hopes that one day, someone else will purchase it for more than you bought it for. Due to this, many NFT collections double as hot potatoes - meaning they are passed around as the value increases, until finally their respective price bubble pops and someone is left holding the bag. A major disservice to the potential of NFTs.

NFTs and web3 have the potential to change the way communities interact, and give creators more freedom over their IPs. While these practices exist, it does not take away from the possibilities NFTs as a technology can offer.

The Solution:

Build NFTs that mean something.

• With NFTs and the technology being developed behind it, there are so many ways they could be integrated into society. Immutable data stored on the blockchain that cannot be replicated opens an entirely new realm of possibilities that we have yet to even scratch the surface of. Think digital IDs, digital tickets for events, and even marketplaces!

Give people the power to use the metaverse, their way.

• Let people create their own instance, or their own metaverse, catered towards their community.

• Connect with other igloos to create relationships and collaborate with other IPs.

• Meet-up in the metaverse with your community using the assets from your IP.

• Hold concerts, art pop-ups, watch parties, and more!

Perks of NFTs:

• Fractionalization

  Objects, NFTs, and even physical things can be put into a vault and broken up into multiple pieces, making it more accessible and decentralized.

• Gating Access

  You can gate services locked behind certain NFTs creating exclusive content, events, communities, etc.

• Licensing

  Giving holders permission to use certain artforms like music or art for their personal content creation needs on platforms like Youtube, Twitch, Tiktok, etc.

• Verifying Attendance

  Ability to reward holders with attendance through POAPs (Proof-of-Attendance-Protocol), enabling the ability to interact with the NFTs retroactively. Like this.

• Showing Identity Exclusive PFP, or Profile Picture, NFT collections that mean more to the communities they serve. Opportunities to build metaverse avatars with clothing & accessories that align with the brands they care about.

• Interoperability

  Metadata stored in the blockchain can be called upon by Igloo Protocol. This creates a situation where 1 NFT can be used for many experiences, past, present and future. As long as the NFT exists, it can be used to create an experience.

• Continuity

  Due to the immutable nature of NFTs, you can build on your community and create a consistent stream of content/experiences, building a sense of continuity.

Each Igloo hosts its own unique collection of experiences.

• Websites

• Storefronts

• Virtual Reality Instances

• Perks

• Private Game Servers

• Discords

• Audio

• Exclusive Games

• Video Content

• Movies

• Art

• Exclusive Mints

• & more

Modularity is the name of the game.

Each community can create specific parameters that can be easily implemented and modified if needed. This way, you can have everything you want, and nothing you don’t.

We can innovate, and create communities that cater to the passions of the community members, while making it intuitive and simple.

We can build upon each community as time goes on, connecting them and reaching levels of connectivity that just aren’t possible in web2.

We are giving creators the chance to harness the metaverse, and use it to connect with their audiences in meaningful ways.

How it works:

Igloo works by creating a lock that requires NFTs as keys for entry. We can put locks on websites, discords, game servers, metaverses, and more.

As stated before, every Igloo is an individual community. NFT holders will have access to these igloos based on the type of NFT you hold. Certain keycards (Genesis Key, Founders Edition) have access to multiple communities.

Once you approach an Igloo, it will check the whitelist to see if you have an approved NFT, and then it will let you in.

Mission:

Igloo’s mission is to give creatives every tool they could ever desire when creating their own web3 community, as well as giving them the ability to use the metaverse, their way. Giving every type of creator (musicians, artists, influencers, content creators, etc.) a platform that allows them to curate new experiences for their nft holders is the main objective.

Igloo wants to reset the narrative on NFTs, and bring the largest use-case for NFTs to life - an immutable ledger of data that can be used to do things that were impossible in web2.

Igloo wants to help creators find new and unique ways to build compelling use cases for the metaverse.

We want our protocol to change the status quo, and to overcome the stigma of the market.

We have to highlight the immeasurable amount of use cases in NFTs, while giving our communities the ability to find the use case that’s perfect for them.

Through the use of the 3 pillars, anything is possible.

Keep your eyes peeled. For the few, there is already an opportunity if you’re a true explorer. For the many, there will be more information regarding the upcoming mirror sale. Stay tuned.