First things first, Happy Lunar New Year to all from Non-Fungible Fungi! Did you know that it is officially the year of the Fung…*checks notes*…Tiger! Year of the Tiger. Yes.
We wanted to put out a longer form update after our Phase 2 reveal in Discord earlier on signalling the start of info sharing on everything we’ve been working on, since the mint of the Generative collection just two months ago. There’s a lot to unpack here and in addition to this blog we’ll also be supporting with a new series of twitter spaces and discord AMAs to make sure everythiiiiing is covered and all questions are answered.
We’re really excited to get things going!
Number one on the Phase 2 agenda is to deliver on a promise we made before the Generative collection even launched; to continue the support of psychedelic research and charities as part of our ongoing project. We’re not content with raising and donating a little over $200K, so for 2022 we’re also donating 1% of the royalties from Mint Jars (currently doing very well and at a .75 floor at time of writing) to The Beckley Foundation. To be clear, aside from feeling that this is the right thing to do as a project, we want all holders to feel a contributing part of something amazing and understand that while buying a Mint Pass. they’re directly supporting the amazing research that Beckley do. Second to this, 2022 will continue to see special 1/1 themed auctions with once again, all proceeds going directly towards Psychedelic reform and research.
Second part is a biggie! Tokenomics. I won’t lie here, this has taken up a large portion of our time. Going back and forth with various advisors, legal teams and collating/implementing feedback for the Genesis meetings has been intensive. Trust us when we say there are a lot of variables and terminology that needs to be ironclad, especially for a team that wants to build something that evolves, lasts and legally operates on UK soil (thanks HMRC).
To pause here for a just second, lets talk about the challenges faced as a doxxed UK team. Not only are we focused on making a utility that is useful and compelling, we also needed to make sure it was legal and constructed properly, double checked by experts as well as a UK based legal team and set of advisors. We literally have nothing to hide behind here, everything is out in the open and as part of it we’ve simultaneously incorporated a company to allow for the creation and establishment of the token (Hello from Myco Laboratories!) and we honestly see this as the first building blocks of the project that will support all of the amazing ideas we’re cooking up…
So lets get into it with the current plan, every day your fungi will produce a token (for now we are using the word token because there is a token named SPORE already in circulation). How much each mushroom yields is determined by your species and generation, this is split out like so:
Generative Magic (currently fridges — but not for long!)
Exact numbers and balancing are in their absolute final stages now and I hope to share this with you this week, but what I will say for now is — it’s very important to keep this figure low and extremely close together to stop over production and people been priced out down the line, it is so easy to get over excited and rush this out — potentially leading to exploits or issues that could limit usage or ‘manipulation’ by those that have large numbers of fungi. We want to try and make this as broad an experience and as inclusive as possible and it’s absolutely no small task.
For example, working out the mathematical possibilities of daily possible yield and balancing this with the length of time we want the token experience to last, add in staking alongside Phase 3 into the situation and it has taken some rather galaxy brain thinking… both Henry and Simms delved into their extensive little black books and brought in some heavyweights in the field of gamified tokenomics which has allowed us to create a system that is not only engaging for NFT enthusiasts but for a community as a whole; providing real and rather unique utility to your mushrooms!
The last step in this was to bring the legendary 0xInuarashi into the mix to make sure everything was possible from a smart contract perspective, while we don’t want to blow our own trumpets here too much — we’re confident that the system is going to be a standard bearer in the space, both from a legal and utility perspective. More on this to come really soon but put simply — Smart Contracts are getting even smarter…
Key to delivery of the token experience will be a web experience that’s under development and will launch alongside the token, I am pleased to announced that we have just come to an agreement with Paper Diamond who will now be leading both the website design/creation and NFF rebrand! We shouldn’t give away too much here but this will be a version 1 of live developing hub that will grow and expand with various experiences and interactions and all that starts with the token. It’s also an opportunity to expand on the lore hinted at in Elzie’s launch and enchanted spore jar videos. If you like the peeks into the Mushroom Kingdom, get ready to spend even more time there…
The next step for tokenomics and main initial use will be to participate in Phase 2, The Conjuring. The next Elzie video to accompany this launch is at its storyboard phase but we will be explaining and showing this next collection off over the coming months.
The process currently for conjuring will be as such:
- Ten (number still WIP) fungi will use accumulated tokens to enter a Mushroom Circle.
- The Circle needs to be initiated by a Genesis, Generative Magic or Legendary Nightshade fungi (more on this final type at a later date) or more better known as, ‘The Crown Shroom’.
- Once the Circle is formed, each participant (including the Crown shroom) will deposit a set amount of token and after a set period of staking time is completed, will have a chance to conjure a Nightshade (If the Crown mushroom gets the Nightshade, no fungi is sacrificed).
- If any other Shroom but the Crown shroom summons the Nightshade, that shroom will have to be sadly sacrificed (traded-in) against the Nightshade.
- The summoning of the Nightshades is a hard task, with how much effort they put in, ‘Soul Shards’ will be created and distributed out amongst the Mushroom Circle.
- Soul Shards and The Nightshades will play a part in Phase 3: Purgatory.
Elzie’s vision for the Nightshade collection is really fresh and innovative and each behind-the-scenes peek we get of his design process has become a bit of an event for the planning team. We’re planning a load of info and creative support for this collection but would love to hear any input or feedback the community has so far! While Conjuring is still somewhere between 3 and 4 months away, the time for feedback is now — we have always stated community first and this is a prime example where we need you to critique the system we have in place and how we make it better, we want community participation, we want this mycelium network we have created to band together and work together. The conjuring is all about this and working together so hit us with your thoughts and lets really make this special.
We know without doubt you all are going to love the plans and art for both Phase 2 and 3.
Lastly, while we can’t say too much regarding the infamous mushy companions known as the Truffle Travellers just yet, we can confirm that they’re happening and they’re real. Soon some mushrooms will have adorable friends to join them on their journey. We’re still on track to release these in Q3 2022 but also want to acknowledge we have not forgotten about the Opened jars and the Concept art, these have fallen victim to everything else we have going on right now but these and the 10 Random drops across the year are still there and still happening!
UPDATE: The !drop programme.
Yes, it’s still happening! As mentioned above, certain bigger things have just taken precedence but we will make sure 10 Air Drops randomly distributed go out this year. As to how these drops will go out, we received a lot of feedback on this one and in the interest of both fairness and our holders, this will now be done via Fungi number rather than wallets. We don’t want people to split them up and we don’t want higher holders to feel down about this. An RNG will now simply pick random numbers from the 10K collections and those Fungi (the wallets they reside in) will be sent the NFT’s. Thanks for the feedback here, it was well noted.
The fridges are making noises, release from cryo stasis is imminent! Look out for them to be released and in the world on or just before the Town Hall on the 17th of Feb.
We know that you’re all dying to hear the specifics on all of the above and we’ve got you covered! The first NFF Town hall is coming up fast on the 17th of Feb and will be the epicentre of all knowledge regarding the future of your Fungi. This will be a deep-dive into the wonderful world of the Enchanted Forest and a general look at the future of every mechanic and update mentioned in the sneak-peek graphic you see today.
That’s all for now!
I hope you’re as excited as the team are. The Year of the Fungi is upon us!
Mush Love, Enjoy the trip!
The NFF Team
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.