A Nil Overview
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October 24th, 2021

Nil is a community-curated marketplace looking to harmonize the relationship between the creator economy participants.

Context

NFTs are a revolutionary concept which allows novel form of value creation and distribution, liberating creators from traditional constraints.

Even though, the so-called creator economy establishment is constrained by self-referencing centralized platforms obstructing creators and collectors’ experience.

By appropriating the means of artistic production’, centralized protocols limit the Cambrian Explosion intrinsic to permissionless technologies while arbitrarily deciding who will benefit from their recommendations. In addition to favoring insider deals, this situation reduces the emergence of rising artists.

Nonetheless, curation mechanisms are necessary as they positively extract signals from noise while offering a built-in audience for promising artists. Both creators and collectors benefit from noiseless on-chain marketplaces where they can safely nourish fertile links.

General Overview

Driven by the burning desire to offer NFT enthusiasts the decentralized experience they deserve, Nil’s initial contributors introduce the Nil DAO, a decentralized cooperative leveraging the Nil Protocol V1.

This article will serve as an overview of the mechanism implied in the Nil V1. The journey is just beginning, and contributors are confident the Nil fair launch will ignite a powerful federating movement serving creators all around the world.

Essential Concepts

At the core of Nil resides the concepts of creator’s ownership over their platform in addition to permissionless curation.

Operating simultaneously on Nil, those parties unlock powerful leverage for participants,  among which curating activities serve the artists while offering them a considerable network of passionate collectors.

Artists

  • Creators apply to join the Nil cohort. To be labeled, their request needs to be supported by the curator’s community.
  • Once part of the Nil cohort, creators enjoy the most creator-friendly launchpad. Abstracting technical complexity, Nil offers them extensive distribution options: community granularity, pricing flexibility, time sequencing modularity, and more.
  • Exploiting the_N_projects community, Nil represents a built-in amplification network of collectors looking to collect and support creators in their journey.
  • Initially, Nil DAO will not charge any primary fees.
  • In addition to their sales revenues, creators generate $NIL proportionally to the support demonstrated by the N stakeholders. Creators gain ownership over the ecosystem they contribute to, the greater their input, the greater their holdings.
  • There is a premium for joining the Nil ecosystem early on. The earlier a creator releases on the platform, the greater the $NIL proportion they generate.
  • $ETH is the standard currency used to sell on Nil. Even tho, creators can choose to accept $NIL as a payment method, giving them control over the $NIL supply as well as the $NIL demand.
  • Nil Labeled creators finally enjoy a lifelong brand moat additionally to exclusive access to the Nil cohort and anechoic chambers for creators to prosper with their peers.

Curators

  • Stake your N and $NIL to become a curator.
  • When staking tokens, curators generate Curating Power (CP).
  • Curators spend their CP to support applying creators. By carrying them early on, curators serve as their mécène, a contribution for which they will ad Vitam perceive up to 20% of the $NIL generated by those supported creators. This mechanism will be introduced in a post-launch release.

Curators should rather start accumulating CP which will very soon fuel the Nil ecosystem. Start staking your n and $NIL.

  • Curators constantly arbitrage between allocating their CP to popular creators massively supported or spreading it over the next talents for which they will perceive a great part of their generated $NIL.

Referral Program

  • Additionally, the Nil Referral Program incentives peer-to-peer collaboration.
  • Referrers perceives forever 6.66% of the $NIL generated by the creators they introduce to Nil. This design incentive individuals to let the Nil flow among the world.

Collectors

  • Save cash. There are no fees on Nil.
  • Benefit from community-curated drops,  increasing their time efficiency. This curation relies on game theory, maximizing the efficiency of the process.
  • Purchase and mint from talented artists in a secured way.
  • N Holders will generally benefit from gas war free drops, making their collector journey fairer and less expensive.

Cruise with us

This is the first article of a series dedicated to digging into the Nil Protocol mechanisms. Watch out, this is just the beginning.

  • Join the Nil community on Discord
  • Follow Nil on Twitter
  • Start onboarding artists and be proactive. Nil DAO will always favor hackers&painters.
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