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FTX's new IE0 CRIPCO: Everyone builds an NFT ecosystem for IP brands

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Take a peek at the latest IE0 issue of FTX after more than 3 months of silence——CRIPCO

In the NFT field, the continuous emergence of various infrastructures such as trading markets, issuance platforms, lending applications, and cross-chain protocols has improved the smoothness of NFT project startup and enhanced the liquidity of NFT assets , thus promoting the rapid development of the NFT market. However, many "consumers" who have purchased NFT still lack an infrastructure that can help them transform "passively waiting for appreciation" into "actively creating value-added".

NFT still has great potential in IP branding waiting to be tapped. CRIPCO builds an ecosystem around this track, It aims to create an ecosystem where NFT issuers and their holders can collaborate to build IP brands, thereby helping "consumers" complete the transition to "creators", changing the way NFT IP brands develop, and promoting innovation in the "creator economy" . The good financing situation also reflects the expectations of institutions for this emerging new track. Its participants include FTX Ventures, Solana Ventures, Musinsa, NEOWIZ Games, VESTIGIUM (Klay) and PlayDapp.

BlockBeats will introduce the project in this article.

Ecological composition

CRIPCO’s ecosystem consists of "introduction", "distribution", " "Creation" consists of three parts, providing full chain support for NFT IP brand building.

"Introduction" - CRIPCO DAO

In order to ensure the quality of projects within the CRIPCO ecosystem, each new project must be introduced into CRIPCO through the review of CRIPCO DAO. The members of CRIPCO DAO come from various fields such as entertainment, fashion, art, and even metaverse, and they all have made great achievements and influences in their respective fields, such as Hiroshi Fujiwara and Edison Chen. DAO members will not only ensure the quality of the introduced project with their strong professional ability, but also pave the way for the early launch of the project by virtue of their influence.

CRIPCO DAO Membership Overview

"Distribution" - NFT trading market

Compared with the existing NFT trading market, CRIPCO's NFT trading market transactions The rates are extremely low. For transactions settled in ETH, only a transaction fee of 1% of the transaction amount is charged. Half of the transaction fees collected will be returned to the treasury, and the other half will be used to motivate individuals who continue to develop new users for the platform.

In terms of user use, CRIPCO's NFT trading market will provide batch quotation and trading functions to make user operations more convenient. More detailed market statistics will be displayed intuitively to users, such as the listing rate of projects, the proportion of project blue-chip holders and the proportion of project whale holders, etc., as well as a visualized NFT price and trading volume trend chart. This will make CRIPCO's NFT trading market not only limited to buying and selling, but also add more "portal" colors that can enhance user stickiness.

The market will also provide B2C solutions for NFT projects to help users such as artists and investors Launch NFT projects more easily.

"Creation"-Deep Creation Tool

For many "consumers who have purchased NFT "For the NFT IP, it is not easy to create content for the held NFT IP. One of the difficulties is that the use of creative tools has a high threshold.

CRIPCO has integrated a series of deep authoring tools to solve this problem. These tools will be able to solve the creative needs of users in motion capture, physical product creation, comic production, and sticker production, and lower the threshold for IP content creation.

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There are not only "IP creation" tools, but even " Create IP" tool. In addition to the above tools for in-depth creation of IP content of issued NFTs, CRIPCO will also provide NFT image creation and generation tools to help you have your own NFT series.

Ecological Economy

CRIPCO’s token economics consists of IP3/IPD dual tokens . In this dual-token economic system, both "creators" and "consumers" will be rewarded appropriately.

"Application Token" - IP3

Function" "Application Token", the main application of IP3 is for transaction settlement in the CRIPCO NFT trading market, all sales, purchases and other transactions support settlement through IP3.

IP3 is required for new projects wishing to apply to CRIPCO. Regardless of whether the application is approved or not, a certain amount of IP3 must be pledged when submitting the application, and the specific amount depends on the expected sales revenue of the project. If the application is finally approved, the pledged IP3 will be destroyed, otherwise, it will be returned to the applicant. After the application is approved, the project needs to get enough support votes in the community vote before it can finally be listed on the CRIPCO NFT trading market. Projects can choose to offer IP3 "bounties" to attract more voters. Regardless of whether the project finally passes the community vote to be listed, the voters will share the "bounty".

Holding IP3 will also get some additional benefits, such as the right of first refusal for new items on the shelves, which can be obtained up to 48 hours in advance Exclusive purchase channel. With the continuous development of internal and external cooperation, IP3 holders will also receive exclusive purchase discounts or other consumption bonuses.

Of course, if you want to have the "governance right" to participate in voting on the shelves, then you must Pledge your "application token" IP3 to get the "governance token" IPD.

"Governance Token" - IPD

Every 10,000 IP3 tokens pledged will get 1 IPD token. IPD tokens will be allowed to be converted back to IP3 tokens when staked for more than 2 weeks.

Holding an IPD means having "governance rights". As mentioned earlier, IPD holders can vote on the listing of new projects and share the IP3 "bounty" provided by the project party. In addition, IPD holders also have the right to vote on proposals related to smart contract upgrades and the use of treasury funds. The more IPDs held, the greater the weight of governance rights, 1 IPD = 1 vote.

As a "pledge certificate", IPD can bring more benefits to its holders The first is "stake mining" - pledge IP3 to get IPD, and hold IPD to get more IP3. The APY in the first year is 17%. Second, IPD holders can also get transaction fee reductions when using the CRIPCO NFT trading market. Finally, exclusive whitelist distribution or NFT airdrops are of course indispensable.

Token distribution

The initial supply of IP3 is 300 million pieces, the specific distribution is as follows :

1. Seed round sales: 3,000,000 pieces, accounting for 1% of the initial supply. After one year of listing, 9.5% will be unlocked every month, and the unlocking will be completed in 10 months.

2. Private placement A round: 15,000,000 pieces, accounting for 5% of the initial supply. After one year of listing, 9% will be unlocked every month, and the unlocking will be completed in 10 months.

3. Private placement B round: 15,000,000 pieces, accounting for 5% of the initial supply. After one year of listing, 9% will be unlocked every month, and the unlocking will be completed in 10 months.

4. Public offering: 3,000,000 pieces, 1% of the initial supply. No lock-up period.

5. Team compensation: 15,000,000 pieces, 5% of the initial supply. After 18 months of listing, 10% will be unlocked every 2.4 months, and the unlocking will be completed in 24 months.

6. Consultant remuneration: 15,000,000 pieces, 5% of the initial supply. After 18 months of listing, 10% will be unlocked every 2.4 months, and the unlocking will be completed in 24 months.

7. Marketing and PR expenses: 30,000,000 pieces, 10% of the initial supply. No lock-up period, save for marketing and PR activities.

8. Treasury: 54,000,000 pieces, 18% of the initial supply. No lock-up period, save and distribute interest to IPD holders.

9. Liquidity incentive: 150,000,000 pieces, accounting for 50% of the initial supply. No lock-up period.

FTX official Twitter has announced CRIPCO as the new IE0 pre-sale on June 25th. According to the FTX purchase page, the IE0 auction will start at 9:00 p.m. Beijing time on July 8. Users who want to participate in the auction must pledge 150 FTT and pass KYC level 2 24 hours before the start. The more pledged FTT, the more shares that can be subscribed. The detailed rules are as follows (the minimum subscription share for each subscription coupon is 250 USDT, and the maximum subscription share is 300 USDT + 5 FTT):

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