1. The Ecosystem of Ocean's Club
How can one use the NFTs?
Depending on the case, there are different technologies, platforms and mechanisms that will give your NFT more features.
The main uses are:
Ticketing: NFTs may be used as a entry ticket for event, community initiatives or DeFi pools
Loyalty: NFTs can be used as loyalty rewards to incentivize a certain behavior.
Fan governance: NFTs can give voting rights to the community.
Enhanced utility in the metaverse: virtual worlds can leverage NFTs to enhance utility and rewards for users.
Each collection will have their own specific purpose and will provide varying benefits to the owner.
Additional revenue streams
Royalties: Smart contracts will allow programming of the NFT to pay future royalties to the NFT creators during the second sales.
Donation Program: With each NFT purchase, one can donate to benefit different associations situated all over the world. The Ocean's Club will focus on following each program affiliation and reporting the growth to the Community.
2. Selecting the Blockchain and NFT Standards
Ethereum is the blockchain with the most NFT activity, but other blockchains are gaining traction with NFTs. There is a trade-off between the different technologies available. Some variables to be considered in evaluating different blockchains are:
Scalability and cost: NFT-based transactions need cost-effective solutions because they could include many micro-transactions, involving in-game digital assets, digital collectibles, card games, and so on.
Smart contracts security: they must be subject to rigorous testing.
NFT standard: non fungible only (e.g. ERC-720) v.s. dual purpose (e.g. ERC-1155)
On our side, we have decided to join the most valuable Blockchain regarding our project : SOLANA
Year-to-date, The Solana's Blockchain allows us to minimize the cost and scalability of the project. We are aware that Gas Fuel is an important part of the process and we will be transparent regarding the cost to the Community. Other than that, Solana's software and utilities will allow us to diversify our activities which will allow us to propose a large panel of NFTs that will represent all the islands of The Ocean's Club.
3. Minting the NFTs
The minting process will be available only for our own collections. It is important to understand than the Ocean's Club is working on two categories of NFTs.
1. Fan Art Collections : The Ocean's Club will be highlighting a collection that we think has a vision similar to our project. These collections will be directly sold on Ocean's Club marketplace. The purpose is to create an ISO and give the opportunity to our community to participate deeply into our project. Only happening once, it will be a form of Decentralized Crowdfunding.
2. Ocean's Club Collection: These collections will be available directly on our website/store and one will have the possibility to mint it.
They will represent the beginning of a new feature or one more step completed.
Right now, The Ocean's Club is already thinking about the next step : Rewards.
More than just a VIP access or a utility in our future Metaverse, our vision is to create a Rewards program available everywhere on the Solana Blockchain. To do so, we are currently reviewing the possibilities and have planned to add features such as Stacking, Yielding and more.
Creating lasting partnership with other companies, or building our own, is one of our main focus at this moment.
Depending of how the first steps are completed, we will take the best direction and advise our community.
5. Distribution across Marketplaces
For the time being, our NFTs will be available on Solanart and our own store using Metaplex.
We are also contacting Raydium to see if any partnership is possible.
If the Multi-chain is available in the near future, we will ask our community if they want to join and will proceed based on the vote.
The Ocean's Club is well aware that there are many possibilities and are working diligently everyday to provide features to our collection. More than a simple financial investment, we want you to be a part of our world and actively able to participate to this huge project. Every decision will be submitted to our community for review.
This topic will be continually updated following the progress made over the year.