Logically just buying an NFT should be a sign of investment and I don’t argue that at all. However, with Web3, to show ownership into something you should go beyond NFTs.
Here’s an example.
Let’s say you minted a Boopie. You were one of the first people in the virtual line and you got one.
One was all you could afford and that’s fine. You’re amazing for just having a Boopie.
Since then you’ve been in the community participating. You’ve been on Twitter actively talking about Boopie.
You’ve done things to try and help grow the brand.
Does your one Boopie represent those efforts?
Anyone can buy a single Boopie off of the market and technically they now have the same status as you.
NFTs require monetary investment which just brings about the inequality already experienced in the current world.
If Crypto/Web3 is about ownership and equality then people deserve chances to earn something that gives them a chance of ownership.
This is where $BOOP comes into play.
If you do work that helps to build the Boopie brand you should earn $BOOP. If you hold Boopies (or any NFTs in the Boopieverse) you should earn $BOOP.
But on the surface, $BOOP is nothing more than a valueless token. It needs to be backed by some value that encourages people to WANT to use it.
Creating a token where the only value is that you get to buy more NFTs essentially means you’ve created Monopoly money.
(Being able to upgrade NFTs with coins is great for in-game mechanics, but that novelty wears off if the NFT is just a PFP. Maybe one day when a Boopie card game comes out $BOOP can play a role in that.)
While I love the idea of using $BOOP to buy things within the Boopieverse it also needs to translate into real-world value that is easy to understand for anyone.
Before we jump into that, let’s talk about Tokenomics and distribution.
At the time of writing this Q1 plan, there are no tokenomics established for $BOOP. While the token has been created, plans for distribution and allocation have not yet been set and neither is the ability to trade it on an exchange (so you get to brag to everyone how you’re earning $67 a day passively).
This of course will happen at some point in the future, but for now the idea is to distribute $BOOP to holders for specific uses like minting or fashion (we’ll talk about that next) and also for doing amazing things in helping to grow the Boopie brand.
Eventually, there will be staking where you can passively earn $BOOP just by holding Boopie NFTs. You can expect that in Q1.
But most importantly you should be able to earn $BOOP by showing up.
For example, if you do something awesome that is Boopie related (maybe create a comic strip or help a member with something), why shouldn’t you get some $BOOP?
It’s easy to only think about the people that own Boopies, but what about those sitting on the sidelines that don’t have the financial means to own a Boopie yet?
Should they wait until they can buy one before contributing or should they have an incentive to contribute whether they have a Boopie or not?
It’s possible to create an NFT collection that can only be purchased with $BOOP.
This means that you could start from scratch, contribute to Boopieverse in some way, earn $BOOP, and then purchase an NFT with it which then grants you access to MORE opportunities.
(We will also open up a Bounty Program where people can find specific things that we would love help with in growing The Boopieverse.)
This is how you open up the space for everyone and remove most barriers.
$BOOP opens up an opportunity for people to get skin in the game no matter what their financial situation is.
It’s also possible to use $BOOP to buy your way into the brand even more.