Published by TRHX in collaboration with TSnark, Archethect, Zhark, Pilot, Maximonee, Nicocombre, Michael and 0xnaranja.
Ignition Overview
Deployed six weeks ago, the Nil community-curated NFT marketplace has gained impressive traction.
Based on the mirror.xyz model, Nil offers creators a powerful launchpad to distribute their work while earning back ownership over their production means.
We set out to rethink the primary distribution of NFTs. Starting from scratch, we designed a completely new experience for the user. Initial contributors want more for Nil, and constant effort will be put into improving the launch pad and curation design.
In this paper, we introduce a long-term vision that will make Nil the leading NFT marketplace in the ecosystem. All of the elements provided in this paper are open for discussion. Take the time to structure and share your feedback. Nil is a collective effort.
Why Nil?
The biggest company of Web3 will be a NFT Marketplace.
NFTs are unlocking the expansion of the free market to all forms of goods and services that can be put into words. We are dedicated to supporting this economical transformation to its core, by offering the most powerful suite for NFT creators and collectors.
Into the Metaverse, Nil will be the central end-point on which you perform financial activities with your NFTs.
Our beliefs
- The value of an NFT relies solely on the community behind it.
- There will be as many marketplaces as communities.
- The separation between transactional and social interactions will fade.
Market Context
The NFT detonation is absolutely just starting. Gaming, fashion, Metaverse lands, collectibles, financial; we expect a mind-blowing explosion of use cases associated with NFTs in the coming months.
Recently valued at 10B, Opensea is eating the whole pie, with 95% of all NFT trading volume being processed by the platform.
So far most of the competitors have failed to rival with it.
In parallel, NFT aggregators have emerged as Opensea batch-transaction operators.
The competitors' inability to rival OS mostly derives from their misunderstanding of what OS, as a whole, is.
The next Opensea will not be Opensea.
What will Nil offer?
We identified 3 core products necessary to the development of a powerful marketplace. Innovating on each of those segments while offering a fluid experience under a single brand will allow Nil to take the lead of the NFT trading market.
NFT Curation
- Improving the curation 1st sequence inspired by Mirror
- Implementing a signalling curation inspired by the Graph
Veblen Trading
- Built-in messaging service to facilitate negotiation
- Marketplace as a service, a marketplace builder to personalise communities HQ
- Metaverse/Gallery visualisation
High-Frequency Trading
- Bot friendly bidding
- Floor trading
Community Expansion
As much as a qualitative product is an inexhaustible vector of growth, Nil DAO needs to do better to engage and grow the community.
Deploying $ 70m in the most ambitious hiring process
To date, approximately 3.5m $vNIL from the airdrop has not been claimed, valued at ± $70,000,000. Letting sleep that $vNIL is inefficient and drastically limits the expansion of the DAO.
Those funds should rather be deployed to expand the active community members.We propose to distribute a decent amount to a large audience handmade selected for their past and future participation in the DAO.
Most of the airdrop will go to people who have shown being active in other DAO, via compensation packs of $10,000 in $vNIL distributed to 2,000 people
A subset of the airdrop is reserved as a sign-in bonus for a large number of professional positions we will need in the DAO.
Contributors will set up forms to collect applications and process them individually, while scaling up our processing throughput with new recruits
This sequence will be remembered as the most outrageous essay to scale the operations of a DAO. This is at the level of Nil’s ambitions, and when surgically executed will allow the cooperative to keep shipping cutting edge innovations.
Gaming and NFTs
We also expect Nil DAO to finance a PFP and/or gaming project on top of the ecosystem.
Gamifying interactions is a powerful way to onboard and activate community members, as illustrated by the remarkable success of Smol Brain and Treasure.
We are actively working with potential partners to develop a financial game with premium access to the N and Nil participants. Join the dedicated channel in the Verso Server to contribute to it.
De-risking Nil
Talents are rare and their retention depends on the DAO’s capacity to provide a fulfilling ambitious mission, in addition to competitive remuneration. To ensure the long-term longevity of the project, the cooperative needs to de-risk its treasury, protecting Nil from the volatility of the crypto market.
Two solutions will make Nil a sustainable organization.
Private sale
Initial contributors are in contact with the ecosystem’s most renowned VCs to realize a diversification round. This sequence will have the advantage to diversify the treasury while offering an entry point to essential supporters with strong expertise and network.
Copper Token Launch Auction (TLA)
A TLA is the most efficient way for a DAO to sell tokens to the public.
With respect to the Nil DAO ethos and the low $NIL circulating supply, this solution seems to be a natural way for new members to invest in a transparent and equitable way into the project.
This mechanism has already been used by successful DAOs such as Merit Circle, APWine, and more.
There is one certainty: Nil DAO needs to welcome new partners and diversify its treasury.
Conclusion
This paper introduces the initial contributors’ vision for the future of Nil.
There is a tremendous market which we believe Nil is capable of conquering.**
This will only be possible with the contribution of the entire community.**