Q1 Roundup for 2022
Welcome to Non-Fungible Fungi Q1 Roundup for 2022.
WOW, how time has flown and 3 months (or 4 minutes in NFT time) have already jumped past in what feels like no time at all. I hope you have some coffee and your reading glasses at the ready as this is going to be a very big wall of text.
The aim of this roundup is to try and cover several different aspects of multiple different topics; we have so much going on right now and I will do my best to tackle each area in as much detail as possible but with a more ‘TL:DR’ format lets say.
Let’s get into it!
- TOKEN WHITEPAPER
- CONJURING WHITEPAPER (P2)
- PURGATORY (P3) / REANIMATION (P4)
- REBRAND AND WEBSITE
- LEGAL UPDATES / IP UPDATES
- HONORARY SHROOMS
- PROJECT P
TOKEN WHITEPAPER ($SPRE)
Total Circulation — 15,000,000
Company Treasury — 1,449,375
Total Mushroom Yield — 13,550,625
Genesis Total Supply: 100
10 x Magics (10x) — 10 tokens daily
9130 in total over 2.5 years
30 x Mire-ables (8x) — 8 tokens daily
7304 in total over 2.5 years
60 x Bogs (7x) — 7 tokens daily
6391 in total over 2.5 years
Generative Total Supply: 10,000
30x Magics (5x) — 5 tokens daily
4565 in total over 2.5 years
3970x Mire-ables (2x) — 2 tokens daily
1826 in total over 2.5 years
6000x Bogs (1x) — 1 token daily
913 in total over 2.5 years
Total: 5,420,250 tokens per year | 13,550,625 across 2.5 years
Token yield run time: 913 days
When we first started talking about $SPRE, the idea of token integration to projects was in its infancy, with all sorts of game theory, launches, rolling back, changing/porting contracts etc. We made sure to look, learn and listen to our contemporaries while developing our own take. This has taken time and we believe this was time well spent to make a mechanic that feels close to an equal to the art itself.
We also wanted to simultaneously write some story and lore to support the token, as the world of Non-Fungible Fungi hinted to by the art deserved that extra time to make it matter. Questions like ‘Where are the Fungi walking to’ ‘What would an enchanted Mushroom be inspired or motivated by’ ‘How can we connect this world to their owners and the process of collecting claiming so it feels in universe’ inspired the process just as much as the maths and computational balancing (of which there was/is a lot).
We’re not ready to reveal all quite yet, but what we can say is that each mushroom will be able to claim a ‘Foraging Bag’ (name TBC) once and once only. That bag (which is its own NFT) will contain the entire 2.5 year yield of that Mushroom’s Token and will drip feed over time and be claimable whenever the end user sees fit. This will all be supported by a story that weaves through all of phase 2, including the new web/conjuring experience right up to ‘Purgatory’. This NFT will be on ETH with game theory elements on POLY with the ability to swap back and forth as needed and will be tradable on OpenSea for those who do not wish to participate.
All this has come at a cost, and I’m afraid it’s time. We wanted to release in Q1 of 2022 but the accumulation of all of these factors plus the time needed to get the right consultations and legal advice means we are asking you all to wait just a little longer while we get this all into play and enshrined into the smart contracts. All teams are in place to deliver early in Q2.
CONJURING WHITEPAPER (Phase 2)
A Crown Shroom is required to initiate the Conjuring process.
Genesis Mushroom 100
Magic Mushrooms 30
Legendary Nightshades 100
A Nightshade is the result of Conjuring
Legendary Nightshades 100 (75 Available via Conjuring)
SOUL SHARDS (placeholder name).
Fungi Souls Shards 30750
Fungi Soul Stone 100
Conjuring is the centrepiece of Phase 2 of the Non Fungible Fungi project. It ties together the token, future collections (Nightshade and Purgatory) and allows the community to connect in an innovative and collaborative way. Each participant will enter their Fungi into a shared Mushroom circle via the website with 9 other Fungi. The circle is then made complete by a ‘Crown Shroom’ that initiates this magical process where a sacrifice is made, and a Nightshade is gained.
CONJURING IN DETAIL
- The 9 Mushrooms in the default Mushroom circle seats can be either Bog or Mire-able type from the Generative collection. They are subject to being traded in/burnt upon collecting a Nightshade.
- 1 Mushroom must be present in the ‘Crown’ seat and can be either Magic species from the Generative contract, any mushroom from the Genesis contract or a Legendary species from the Nightshade contract. The Crown Shrooms are not subject to being traded in or burnt upon collecting a Nightshade.
- Each mushroom must deposit X amount of $SPRE in order to participate (final number TBC).
- Once all Mushroom spots are filled and everyone has paid the $SPRE fee, the breeding procedure will automatically begin.
- All mushrooms are released back to users/wallets.
- A winner will have been randomly chosen from the default Mushroom circle seats and given the opportunity to trade in (burn) their mushroom for a Nightshade randomly assigned to them from the Nightshade contract.
- If the winning mushroom is in the Crown seat, the winner claims their prize and gets both of their mushrooms back to their wallet.
- If the winning mushroom is in a default seat, the winner can claim their prize but must therefore sacrifice their staked mushroom in order to receive the newly minted Nightshade.
- All 10 participants will receive a Soul Shard regardless of every conjuring circle they partake in (needed for P3).
- Once a Genesis Mushroom has completed 15 Conjuring circles with the community, we will air-drop them a Soul Stone, this is to encourage participation and acts as an incentive/reward for helping the community and working within the Discord.
- All assets will be on ETH with the gaming aspects and elements sitting on POLY (accessible via polygon bridge).
PURGATORY AND REANIMATION.
As you know, we never aim low here at NFF and thinking ahead is the absolute aim of the game. P3 (phase 3) will see Nightshades, Soul Shards, $SPRE and maybe even Generative Fungi (not final) all work together to try and bring mushrooms back from the purgatory state following the conjuring. Be aware, bringing something back from the dead is never a good thing and the unnatural reincarnation and dark magic wrought by the Nightshades will have taken its toll in ways we don’t yet know…
P4 (phase 4, Reanimation) We have told you that where there is light, there will always be dark. We, now bonded as scientists, researchers, conjurers and explorers come together to purge the corruption brought upon our Fungi world in 2023.
Phew… time for a breather, now we have the main head of this over with, let’s chat about some shorter topics but ones that are super important nonetheless.
REBRAND AND WEBSITE
The legend that is Paper Diamond has been hard at work with the team bringing the web and brand experience up to par with the Phase 2 plans and we are very excited to show you the results. For now though, I’ll simply show you the image below as a teaser. The website goes hand in hand with a rebrand/identity that brings NFF into the modern day world of NFTs, mixing fashion and art while retaining the finesse and fun of Elzie’s Magical Kingdom.
LEGAL UPDATES / IP UPDATES
We have been working with Sheridans to ensure we stay within all legal boundaries, as a fully incorporated and fully tax paying company. As you may or may not know, tokens and their use must be constructed carefully so as not to risk legal issues that would necessitate changes down the road. Assessments and adjustments have been made and I’m extremely grateful to the team here who are experts in not only crypto, but also advisors on gambling and NFTs.
Aside from this legal piece, we have also started the process of providing to you, as owners/holders, IP rights. Rather than pick either cc0 or commercial, we decided to try to meet in the middle. The aim of our IP rights is to allow the creation of derivatives under cc0 meaning anyone can replicate a Fungi and have fun with it BUT the re-sale of that derivative (no matter in what medium of form, clothing, cup, drawing etc) is not allowed without owners consent or payment. I will drop some feedback when this is ready to go for all holders to give any feedback, this will not be implemented without everyone’s oversight.
The Honorary Shroom project is in its planning phase right now, but will be a small collection to give us the chance to give visibility to artists and collaborators that have aided or inspired us on the Non Fungible Fungi journey and the space in general. More details to come soon!
Here’s to 2023 and thanks for joining up on this journey, Enjoy the trip!
The Non-Fungible Fungi collective is a Kingdom of 10,100 unique 3D animated (and enchanted) Mushroom NFTs strolling through the Ethereum blockchain. Each Mushroom falls into 1 of 3 species, Magic, Mire-able and Bog (standard) with Magic being the rarest and Bog being the most common.