Nil ambitions to become the operating system of the Creator Economy.
Driven by this vision, Nil V1 offered a community-curated launchpad for NFT creators. A core aspect of the proposition value being the implementation of an artist liquidity mining program, giving back ownership to the selected creators.
So far 4 creators have dropped on the primary market, generating ~600,000$ in trading volume. We are proud and excited that the hard work and trust of the DAO and our wider community of collaborators has opened up a broader future for Nil.
V1 Bilan
Strengths:
- Growing collectors base
- Generative artists enthusiasm
- Launchpad implementation
Challenges:
- Increase user base and activity recurrence
- Scale performances
- Improve volumes
V2 pivot
NFT businesses are mostly split between content creation and tooling development.
In its current state, Nil is closer to a content creator than a technical stack. A large amount of time has been put behind each drop personalization, creating inefficient development resources. As much as this strengthens the launchpad stack, this has created inactivity between drops while drastically increasing the technical risk associated with each release.
This system - closer to a studio - is neither scalable nor close to the vision of becoming an operating system. Using these early learnings as a starting point, Nil V2 will serve as a scalable fully autonomous structure.
Development philosophy
Decades of success come from quick-wins repetition. This ideology is guiding the V2 development process.
Legionaries, aka part and full time contributors, have chosen to focus on a very narrow scope to maximize development efficiency. We expect Nil V2 to be released during Q1 2022.
Not boiling an ocean
Inspired by the vision to offer Metaverse tribes an operating system on which to perform transactional and social interactions, contributors are conscious that short term focus leads to long term victory.
As much as Amazon started by selling books, we’re choosing to focus the V2 release on generative-art support.
In fact, we identified 3 opportunities to leverage:
(1) clear interest from generative artists
(2) tight N community
(3) desire for a gen-art focused marketplace on the Ethereum ecosystem.
Product
Launchpad
Nil DAO has developed distribution mechanisms offering creators freedom over their launch design. The V2 will be the automated version of this.
The artist will have the option to configure the most essential settings to start with:
- collection number of items
- mint price
- drop date
To increase users number and recurrence, the launchpad will be permissionless, welcoming all enthusiast generative artists.
Contracts can be used by anyone, all collections minted being by default featured on the front. Even so, a reporting feature will allow users to signal if a drop does not respect the Nil chart. This should prevent fraudulent creations and protect collectors.
Note that the artists using the Nil launchpad will not generate $vNil as originally designed for Nil Cohort creators in V1, which was a curation sequence powered by $NIL, - $vNIL and- N-project holders.
Instead, artists launching via the Nil Launchpad will benefit from permissionless granular distribution options, collectors reach and smart-contract security, which will ensure growth on an individual level as well as scale the ecosystem and our community as a whole.
Once the V2 is deployed, our focus will widen to include development of the Nil Cohort creators curation sequence feature in addition to improving the launchpad. The future Cohort members will then access the $vNIL minting, as implemented in the V1.
Marketplace
We conceive Nil as an ecosystem offering services from mint to NFT trading.
Developing the launchpad and the marketplace in adequation will unlock product synergies as much as a greater experience for collectors and creators.
The marketplace will initially be minimalist, offering the essential features associated with NFT trading. The focus is being put on UX convenience, notably by collecting community feedbacks.
At V2 release, solely the arts dropped on Nil will be supported on the marketplace, making the product a laboratory on which the DAO can innovate before scaling activities to broader collections.
$NIL Tokenomics revision
The NIP 08 voted for earlier plans to make NIL the reference currency of the ecosystem. At V2 launch, the token will become the base currency to perform mint activities, ETH trades being financially less appealing.
Making NIL the ecosystem standard:
- 0% fee for the mint using NIL
- TBD fee for the mint using ETH
- TBD fee on the secondary market
- Secondary listing available in NIL or ETH
- Fee captured controlled by token holders
The fees generated by the DAO will be placed in the DAO-sig, governed by $NIL and $vNIL holders.
The Nilistador $vNIL tantric distribution will keep running on a regular basis to welcome new participants and reward past contributors.
Increasing liquidity
$NIL has so far suffered from lack of liquidity. Increased secondary liquidity will be a priority. Most of solutions will be structured around 2 beliefs:
- Liquidity gamification
- Liquidity as a currency
Among others, liquidity providers can later on expect early access and/or free-mint for specific collections, in addition to other advantages. We will make sure everyone is rewarded.
Liquidity provision should become an abstraction among the Nil ecosystem.
Chain scalability
Along with the wider NFT industry, we are painfully aware of the issue of L1 gas costs. Gas fees restrict creativity and accessibility by holding an intrinsic cost to each form of on-chain creation - and this is something that simply does not align to our beliefs. We can not expect to raise a blooming ecosystem on such a basis. More information will be announced in due time, but you can for sure expect the V2 to tackle gas problems at its core.
Closing thoughts
Our primary goal will always be to strengthen the Creator Economy.
Nil's vision with V2 is to give builders, artists, hackers, and everyone else involved in the community the tools they need to succeed.
We are focusing on the short term to deliver while maintaining the long term vision as a cap. Not only to disrupt how the ecosystem works, but to change creators' lives.