Planet and Moon NFTs
Planets and moons will be used to build virtual societies in CollectiVerse (we will refer to both planets and moons as "planets"). Every planet will automatically be a project on our Layer 3 no-code protocol. This is how the collective metaverse intertwines into Layer 3: each planet gains the benefits of custody, NFTs and marketplace, staking, tokens, fractionaization, ability to implement DeFi functionality such as lending, etc.
In this manner planets will have the ability to create vibrant economies for their virtual societies without needing any code or technical expertise. Plus it enables each planet to become an independent and sustainable project while showcasing our Layer 3 capabilities (and helping us make improvements). All planets in CollectiVerse are projects, although not all projects built on Layer 3 need to be planets (as it's optional if they want to participate in our collective metaverse).
Another way we intertwine our metaverse and Layer 3 is that we provide benefits to early adopters of CollectiVerse. Planets will be sold as a function of space unit radius from earth (i.e., the planets closest to earth). Holders of closer planets will have lower costs in our Layer 3 protocol (bridging, transactions, etc) to drive value of our early metaverse adopters. In other words virtual real estate closer to earth will have more inherent value and benefits, replicating scarcity in the physical world.
There are 3 ways to purchase/own a planet or moon NFT:
Existing communities (DAOs, NFT/DeFi projects, etc) will have the option to purchase a whole Planet NFT.
Individuals will have the option to purchase fractionalized planets. The reason for requiring fractionalization is to ensure that a single person doesn't control a planet (we will limit amount of a planet that can be purchased by a wallet).
New projects building in CollectiVerse can use the DeFi Native SPAC implementation option to participate in our collective metaverse.
CollectiVerse itself will take some holding of each planet to maintain a voice in each society. The stake will be 1% for each whole planet NFT sale and 5% for each fractionalized planet NFT sale. Our 1% stake for whole planets will be allocated whenever it is fractionalized, which will be necessary at some point for purposes of virtual terraforming and creating land NFTs.
The total cost of a Planet/Moon NFT will be $250,000, of which 50% will immediately be placed into a treasury for each planet, and can be used in any way as the planet's community / DAO chooses.
Proceeds for whole planet sales will be $247,500 (99% * $250,000) where $123,750 will be automatically placed in the planet's treasury.
Proceeds for fractional planet sales will be $237,500 (95% * $250,000) where $118,750 will be automatically placed in the planet's treasury.
This approach is to bootstrap planet treasuries with a sizable treasury from the start. These funds can be used to pay rewards or yield to holders (which can be defined in our no-code platform) or used to build.
The planets will require implementing several components of our Layer 3 protocol:
Decentralized custody
Project token contracts
NFT fractionalizer
Staking contracts
Stablecoin ($ROCKET)
Rewards contract
User vaults (enables multiple simulataneous utilities for a project's token)
Centralized no-code front end (project dApp runs as a subdomain on Collectiverse.com)
Most of these components have already started development and will be completed in Phases 2 and 3.
Last updated