Whether you are a newcomer to the NFT / Web3 space, or a battle-scarred veteran, the first thing you want to see when evaluating a project’s potential is its utility. This article will help compile the utility of our project in a simple and easily understandable format.
Perhaps the greatest utility for minters and holders of this project is the perpetual royalty incentives. If you minted your Mitama(s), your wallet will receive royalties for LIFE.
A Royalty Chain Incentive (The Holder Pass)
Secondary buyers may qualify for 6 rounds of incentives after selling their NFT(s) with the condition of selling in profit. This simply means that the first seven owners of each Mitama NFT will share 3.3% of the sales.
After the eighth transaction completes, the first secondary buyer will no longer receive royalties and will fall off of the royalty chain. If your sale fulfills the conditions, you will receive a “Holder Pass,” which will entitle you to receive your share of the 3.3% royalty for the next six transactions.
The “Holder Pass” is also an NFT and can be traded. The royalties will go to the wallets containing the “Holder Pass.” The original minter’s wallet will be baked in and their position in the Royalty Chain will never expire.
Physical Goods
Physical goods will be released, and like Mitama, you can expect them to be especially soft, cute and cuddly.
Evolution
This exciting feature also doubles as a reward if your NFT reaches a certain price range. Once your NFT reaches a certain price range, it will evolve, like a Pokémon, making it more rare and thus more valuable.
When your Mitama evolves, it will have one of 5 different auras that represent different price points. The different aura colors are blue, green, yellow, orange and purple.
When your NFT begins glowing with an aura, it means that it is marked for evolution. Evolutions will occur and eligible NFTs will begin transforming in time.
The Mitamaverse
The Mitamaverse development must have also caught your eye. So what does it mean for the holder? Mitama Mint has plans to create an open Metaverse. That means Mitama can be part of other Metaverses, and other communities can be part of the Mitamaverse.
Metaverse Pets
As this is an open Metaverse project, it is in our values to contribute to other Metaverses, as well as building our own. At some time next year, a snapshot will be taken and our holders will become Metaverse pet owners as the Mitama come alive in Decentraland. Expect to interact with your pet.
The DAO
The Mitama IP will be monetized to raise funds for the DAO. The community will decide how the funds will be deployed for real-world causes. Our aim is to create an entity for social good, operated by the community.
Voting Power
How do we determine the amount of influence that a single DAO member should hold? We look at how much they’re contributing to the project. More volume means more money that will be donated to charities. For this, we think volume should be highly rewarded, in addition to NFT ownership. Additionally, we want to incentivize community involvement and action.
Based on these factors, we are creating a negative rebase account bound token that assigns a “score” that changes based upon your activity and rates how much voting power your wallet possesses.
Our leaderboard will rank user wallets by factoring the total on-chain volume that directly relates to royalties paid out in donations. This factor is in addition to how many NFTs of each evolutionary level you currently possess
Our Metaverse concept will create Metaverse incentives for Mitama NFT ownership. Areas and people helped by the DAO in the real world will become points of interest and utility in the Mitamaverse.
When Will This Utility Be Available?
The phases give holders an idea of when certain utility will be active. Mitama Mint has 3 phases you will need to watch out for:
Phase 1, August 2022
Our Discord will become active for 3 activities:
Allow List (AL) wallets collection
Sharing blockchain proof of donation allocations for selected charities.
Bragging rights for higher auras that are dependent on the price list of the NFTs.
Phase 2, December 2022
Voting Power Tokens appear in wallets. DAO participation incentives go live.
Evolution auras will begin taking effect. Some Mitama will evolve faster than others. Once auras are activated, it means that the requirements of evolution have been met, and your Mitama has begun to evolve.
Phase 3, Q2 2023
Metaverse Pets
Other Metaverse integration initiatives