Incentivized Building…And NT Updates
Citizens…*pumps shotgun*….Let’s begin.
A lot of the work that we laid out a few weeks ago is coming to fruition. So I wanted to take a moment to make a quick blog post going over all of it. Bytes 2.0. The new site. Incentivized building. Etc.
Incentivized Building Application Process Is LIVE
If you are not in know about IB (incentivized building)… I’d suggest that you go and check out the blog post on it here.
However, with Firestorm leading the process we are now able to push this live. I want to take a second to talk about it, the goals and it’s importance to NT.
The Goal Of IB
I want to make one thing very clear.
NT is not some WeWork or membership work camp. The goal is always to attract the best minds in crypto gaming and set up an environment for powerful networking. By far the biggest opportunity and value of NT is 6,500 people all sharing/building/working together in gaming crypto the next 5+ years AND THEN being positioned to catch the giant wave that is coming.
I still strongly predict the market cap of metaverse/crypto gaming will easily surpass 1 trillion in market cap in the not to distant future. With the current market cap being 20 billion there is an almost endless amount of 50 to 200x investments we can discover, use our reach to access or (the main focus) build for ourselves.
My vision has always been founders and participants in crypto gaming all working on their OWN projects and using NT for the power of it’s network.
So what is the point of IB then?
Almost every NFT project on the market is wrapped up with the sake of building things just for the sake of building. Hell most are actually more wrapped up with the “promise” of building things and kicking the can down the road with promise after promise.
Let’s just cut the shit…this 100% has to do with maintaining or pumping the floor price with promise of more incentives or wealth to be had. There isn’t much actual utility being made. Just interesting ways to prevent people from selling. This is not going to be sustainable long term.
This is not the point of IB. The point is to incentivize building byte ran projects that THEN incentivize the BEHAVIORS that NEO Tokyo is founded upon…NOT artificially mess with the projects supply or trigger mass speculation.
For example one thing myself and Elliot would like to see built is an internal alpha reddit board where the sharers of alpha are tipped/upvoted in bytes. Essentially this deeply rewards participating in the purpose of the community. Then to incentivize the building, the developers can then get a % of all bytes generated. Finally a % of bytes is then sent back into the IB fund to fund more incentivized building.
In short, we are not trying to build bullshit utility to PAMP our nft price. We are trying to build utility to PAMP the behavior the community is built around and encourage everyone to double down on it WHILE ALSO making sure that people who do choose to build for NT have a financial incentive.
The Big Vision
Most my experience is in the actual business world. It’s been my vast experience that when you are able to inspire a community to crowdsource problem solving and building it becomes unstoppable.
Most NFT projects at the moment are a small team of people trying to create enough value (or speculation to be honest) to get holders to hold the NFT in order to PAMP the price. I know this will be VERY difficult to sustain and likely cause an extremely vicious NFT bear market.
On the flip side… I think a community of 6,500 people all building at once can achieve 100 times or even 1000 times more than just a small team. The issue is that people need proper incentives to share and proper incentives to build. It can’t just be “community, community and DROPS DROPS DROPS”.
This is the big vision behind IB. With the new bytes update and structured building, we can build faster and create more than any other community over the next few years. With proper incentives we can discover more, invest better and gain access to the most lucrative gaming investments over the span of the next few years (and likely bear market).
How To Get Involved (and How It Works)
IB is fairly simple. Our new Project Manager, Firestorm, has created an application process here. Teams may then submit projects for our leadership to vote on and discuss. Elliot has also moved a significant amount of funds into our DAO. Despite it being named a DAO, I have strongly pushed that our leadership will vote on allocation of the DAO INSTEAD OF all 6,500 citizens voting.
While some might find this disappointing, we very much need to pick and choose the RIGHT teams and projects that will move the needle for NT. This could get very convoluted and messy with 6,500 people with various motives/involvement in NT voting.
That said we are looking for projects with these characterisitics
-They must run on bytes
-They upgrade our community
-The incentivize building, sharing and creation for the community
We then will help well designed projects get what they need to be built. We will also allow the projects to receive %s of the bytes spent in their projects as long term payment. For example if we make a citizen ran merch store, the dev team could receive 5% of all sales in bytes.
I feel the explanation with my previous blog post makes this quite clear, so I will simply leave the description above as is. If you are interested in proposing a project I will post all relevant links in the announcement section in discord. Again here is a link to the application.
Projects We Very Much Want To See
White List Market Place : This is already pretty much built and going live next week.
Citizen Upgrade Market Place : Because of how NT NFTs are designed, it could very much be possible to layer on items, pets, graphics, etc that are DESIGNED by the community. A marketplace where people could design ,sell, buy and trade these in bytes would be awesome.
NEO Tokyo Merch shop : Tons of people have asked about merch. IMO instead of having one team making merch, we approve quality merch. Then teams can sell the merch in bytes.
NEO Tokyo Alpha Board : Myself and Elliot would love to see a board similar to reddit where people can post their alpha research. Good posts are tipped and upvoted in bytes. I feel there’s a better economy to this and with a bit of creativity we could find something VERY clever.
NEO Tokyo Job/Skill/Hiring Board : There is an extreme abundance of talent in NT. I personally have hired or contracted multiple jobs from members. A job board where people can hire or pay for jobs in bytes would be incredible.
This is just some general ideas WE personally really want to see. We are very open to creative ideas from our brightest members. After all, the entire Bytes 2.0 proposal was done by our very own members. I am very excited to see what we come up with here.
Keep In Mind We Still Want You To Build For YOU
The point of joining NT is to build, work, invest in OTHER projects while working as a tight community. 6,500 heads all focused on one industry is POWERFUL. We don’t want the point of NT to be to join and “get a job” building for NT.
So please keep that in mind. The point of EVERY IB project we help get started is to reinforce our community and the purpose stated above. It is not to create some new type of career path.
What Else Is Going On?
Hopefully its apparent that the point of this post was to focus on IB and the applications opening. That said, here’s a few other noteworthy things happening
New Website Almost Complete
Now that the “mystery” phase of NT is over we have shifted to creating a professional site that reflects our values, mission and everything NT is about to make it easier for new builders to join.
On top of full minting/current utility we also plan to constantly be adding to the citizen tools under the “trade” area. This give news, NFT building and all sorts of other functionality to the project.
You can play with the interactive mock up of the site here : https://www.figma.com/proto/PtIMtK1LTuykEpYil0nCfE/NeoTokyo-%E2%80%94-Redesign?page-id=1706%3A3091&node-id=1706%3A3294&viewport=346%2C48%2C0.2&scaling=scale-down&starting-point-node-id=1706%3A3294
Bytes 2.0 Development Progress
There isn’t a ton to add other then we are about 1.5 weeks out from BETA. About 3.5 weeks from deployment.
If you are not aware of the huge changes coming, check out our last post covering the full update.
Chips Have Dropped To The Top 20 Teams
What does this mean and how is it relevant to you? Well the mystery is half the fun. That said…they are in the winners wallets now. I’d expect top teams and guilds to continue to be prioritized when it comes to perks.
Female S1s and Skin Swaps Are Coming
As promised s1s will be able to swap to females for a small amount of bytes here soon. We are also allowing skin color swaps on all HUMANS for free the first month it is out.
We want everyone to have a human NT they feel represents them. Its not any fun if you’re a girl and have to have some burly dude as your PFP. Also since I am deeply aware a good percentage of our members are waifu chasing creeps…we couldn’t NOT deliver on this.
That’s All For Now
A ton has been built at NT the past month. This is again just the start of a very long grind to the true gaming bull market.
I encourage everyone to stay up to date in the announcement section of discord.
-The Game Master