Conclusion: One of the strongest NFT projects in the Solana ecosystem. The founders are innovative, feedback is taken from the community in spades, and the collective devs are building like wildfire 🧵 Why I’ve joined FFF.
Overview of the Project: FFF
The Famous Fox Federation (FFF) is a collection of 7,777 randomly generated NFTs built on the Solana Blockchain. Foxes spend their days hanging around their Dens, going on adventures/missions, or heading to the market and spending their hard-earned $FOXY.
Sub-Collections include: Transdimensional Foxs, Famous Fox Dens, and FFF Friends/Foes.
Each collection was begot through airdrop(s) to provide value for existing holders FFF holders or via 1/1 auction (typically in $FOXY).
Crazy Builders:
The most distinct aspect of the FFF is their ability to build & deliver tangible product’s (combined with a dogmatic focus on execution of the FFF roadmap). Think of https://famousfoxes.com/ as an incubation center for the tooling we’ve always wished were publicly available on @solana.
Utility Projects/Tokens: Most Popular
*Famous Token Market: Trade any SOL or WL token
- Likely the most notable of the FFF products, the marketplace allows individuals to list and/or purchase virtually any tokens in the Solana ecosystem.
- FTM typically enables the ecosystem to get early (first access) liquidity for tokens that are not on DEXs or Exchanges (or preferred/customized pricing outside of “DEXland”) Example being: $YAKU token was listed on FTM near the time of staking (before the token had a public value or listing on @Raydium). Allowing early backers to have some sense of public marks for the token, and early adopters of the project to purchase the token pre-raydium listing.
*Rafffle: Create NFT raffles
- Perpetual raffle/auction ecosystem that allows individuals to list their NFTs into a lottery. As the owner you have the ability to select the: 1. Price 2. Token Denomination 3. Ticket Supply 4. Verify your account for greater visibility - this enables transparency and an element of fun to a traditional NFT project offering.
- Rafffle Rules: After creating a raffle it goes into escrow, a small “rent” fee is taken (but will be returned), the raffle begins when one ticket is sold (if no tickets are sold, it is returned) there is no editing/canceling post ticket sale.
- Rewarding FFF Holders: FFF/TFF holders get a 50% fee waiver (if staking) + they are featured on the front page (big incentive for sales).
- Economic flywheel: FFF takes a 5% commission fee on the ticket sales. However, most the underrated but important factor is that below the raffle purchase button there is a prompt “Need X token, buy it on FTM” this allows users who need to “top off” / purchase (the auctions specific token) can go to the market place & buy the specific token from fellow foxes / the broader public. $FOXY used in the Rafffle platform is burnt while other tokens will be liquidated to fund the community treasury.
Staking: Earn $FOXY passively - Foxes are staked for a minimum of 3 days, with no maximum duration. Each staked Fox accumulates $FOXY over time. Once claimed, one will be able to use these tokens throughout the entire ecosystem i.e Rafffle’s, upcoming mints, new generations of Foxes, upgrades, and other features.
- FFFs earn 100 $FOXY / TFFs earn 25 $FOXY.
Missions: Send your Foxes on new adventures
- Here is where the “Fame” in the FFF comes in. Foxes have the ability to periodically venture out on missions. Each mission is typically thematically driven i.e “if you have a green or red sweater (Mario and Luigi Mission), you can go try to save princess peach”. Each mission locks up your FF or TF for several days, during which time the fox are battling monsters, and inturn earning 1. Treasury Chests 2. Fame (fame is one of the more interesting components of the ecosystem for the 2.0 roadmap and will require an additional 🧵).
***More to come in another thread for:
*FoxySwap: Peer-to-peer swap
*Ding: Send NFT messages
FoxyMint: Mint NFTs
FoxySend: Bulk send NFTs and token
FoxySweep: Sweep NFT floors
FoxyList: Bulk list NFTs
FoxyBid: Bid on multiple NFTs
FoxyShare: Token distributor
Revoker: Revoke token permissions
TMI - Manage any tokens (burn)
Rarity Chart - What's hot, and what's hotter
High Definition - Foxes in 4K Ultra HD
My Profile - Your wallets and socials
My Foxes - Your foxes and their stats
Dens:
Directory: Browse all Dens
Dens Leaderboard: See the highest scoring Dens
Search Dens: Search through Dens
My Dens: Real estate empire
Marketplace: Expand the Foxy abodes
Trading Post: Mark a fox NFTs for trade
Fun:
GIF Maker: Show off FFs!
Banner Builder: Add Foxes to socials
Wallpaper Maker: Show off a Fox via phone wallpaper
This rapid high quality building has multi-pronged benefit(s) for the FFF community and @solana ecosystem.
- The FFF community continues to gain value as the platform grows its flywheel: high quality tools = more usage / visibility = onboarding more users = more transactions = more community feedback / $FOXY burn = ability to build more (restart)
- The FFF community tools allow it to collect fees across multiple products (giving preferred economics to FFF NFT holders) juxtapose this to a majority of SOL projects that offer either staking, broad utility, or one core product that drives fees to the core platform.
$FOXY Tokenomics:
The FFF team has taken a thematically different approach from other projects, encouraging the community to view 1 $FOXY as 1 $FOXY as opposed to a SOL or USDC dominated asset.
The $FOXY token acts more of a utility token within the fox-verse.
Risks: The current risks to the project are:
- Oversupply of the $FOXY token and/or slow down in usage of the tooling built by the devs (usage which drives a healthy level of $FOXY burn for the ecosystem).
- Failure to execute in the implementation of Roadmap 2.0 https://medium.com/@famousfoxfederation/famous-fox-federation-roadmap-2-0-3266b14ee856 (which I view as a minor risk, as the team to date have been dogmatic on execution).
🧵Concluded🧵