WTF is CRIPCO
CRIPCO is aiming to become the world’s first industry-led DAO NFT platform, bringing together visionaries and industry stakeholders, artists, influencers, brands, and others, all inside the governance of CRIPCO.
CRIPCO implements a Solana-native DAO that handles the curation process and manages platform development. This allows CRIPCO to achieve maximum efficiency in decision-making, align user and platform interests and outcomes, and do it all while providing public accountability. CRIPCO has announced that it will list its native IP3 token on leading global cryptocurrency exchange FTX, as part of an Initial Exchange Offering (IEO) starting on July 8, 2022.
CRIPCO is an IP 3.0 Hub that aims to build an open NFT ecosystem. An ecosystem where everyone can create merchandise and secondary contents through NFT utilities. An ecosystem where individuals and companies can provide their NFTs with real utilities. And they plan to build it by making buying and selling NFTs virtually effortless.
When Is the IEO?
One of our favorite launch sites FTX is supporting this unique NFT platform. These have been some of our favorite launches in the past. FTX does an amazing job.
In order to bid during the IEO, make sure you read the rules below and do the following beforehand:
- Register your FTX account and submit KYC level 2. Due to a large inflow of new sign ups, it’s not guaranteed that your KYC will be approved before the IEO. Please be advised to submit KYC as soon as possible and get approved to be eligible for the IEO.
- Note that you must have at least 150 FTT staked on FTX to participate in the IEO, and that you get more tickets if you stake more.
- Set an alarm in advance: the IEO starts at 7/8/2022, 7:00:00 AM
- Prepare funds to bid: at least 250 USD(T), and at most 300 USD(T) and 5 FTT per ticket
- Stake FTT to lock in your ticket allotment 24 hours before the IEO
Visit https://ftx.com/cripco-ieo to find out more details and to ready your account for July the 8th!
Who are the Backers?
In the world of venture, the important part of each of these players is not just capital. The success of a company relies on its network and connections to build out a successful idea.
You can see some of our favorites like FTX ventures, the new venture arm of Alamadea Research. Solana Ventures, Creditcoin Playdapp and a few others. These strong supporters have what it takes to help build this company to its explosive potential.
What makes CRIPCO unique?
CRIPCO has features that make it a true standout project in the world of NFTs. The CRIPCO marketplace not only features lower fees than existing marketplaces, but it has also been designed with Web 3.0 in mind, maximizing users’ rewards.
CRIPCO’s uniqueness results from three key factors: user-friendly marketplace, variety of NFT utilities, and DAO members that support CRIPCO. CRIPCO marketplace not only has transaction fees lower than the existing marketplaces and unprecedented features, but also has been designed for Web 3.0, maximizing users’ rewards.
By leveraging CRIPCO’s NFT utilities, companies and individuals can not only create their own NFT collections, but also add secondary contents to it, such as motion captured videos, stickers, emojis and webcomics, all with NFTs they hold.
Finally, the DAO composed of IP companies, IP creators, online shopping malls, auction houses and global celebrities, will further scale the ecosystem by actively participating in CRIPCO.
CRIPCO’s products are divided into two major categories: the marketplace and the NFT utilities.
The CRIPCO marketplace has a transaction fee of 1% when traded in ETH.
Through referrals, referrers can earn half of the transaction fee. In the future, CRIPCO plans to add new innovative features to the marketplace such as collection bidding, bulk buying and selling, statistics dashboards that include listing ratios, blue chip NFT holder ratios, whale holder ratios, and even charts that visualize NFT prices and trade volume.
In terms of providing NFTs with utility, CRIPCO plans to add features such as:
NFT solutions (ERC-721, ERC-1155) where individuals and companies can easily create their own NFT collections.
- A variety of engines such as motion capture engine, web-comic engine, POD engine, sticker production engine, and background image engine, where NFT holders can create secondary products with their NFTs.
- SSO functionality that gives holders the ability to login into multiple metaverse platforms with their NFTs.
- CRIPCO will add other under-mentioned utilities and features to enrich the user experience.
Why a DAO?
The Multiverse DAO called CRIPCO is designed to guarantee public accountability and transparency in all aspects of the platform’s decision-making, regardless of whether this has to do with curation, smart contract upgrades, or treasury fund usage. All of the DAO’s proposals are public. This means all participants are incentivized to act in alignment with the platform’s vision and interests.
DAOs can help coordinate the interests of stakeholders and members across the world and do it in a revolutionary way. With transparency positioned at the center of the DAO, all of the on-chain governance, apps, and proposals will be fully public.
DAOs can also allow us to coordinate skills, talent, and information to enable a dynamic organization which spans international borders. By aligning the incentives of a wide pool of stakeholders, DAOs enable cooperation between parties and also naturally concentrate expertise. By trusting the DAO structure to manage the curation process, it guarantees that the quality of the platform will be maintained and improved by the participants themselves. Creators, brands, influencers, programmers, or even other platforms can become a part of the diverse array of stakeholders in CRIPCO.
An overview of the DAO
By leveraging the transparency features of DAO, CRIPCO aims to create the accountability requires to align the incentives of users and participants.
The DAO will operate on Solana due to Solana’s long track-record of stability, as well as being one of the most widely recognized L1s for smart contract development.
All of the DAO’s decisions are strictly executable on-chain. It has three primary governance functions – the curation contract, the protocol upgrades, and the treasury decisions.
Each DAO token (IPD) holds a voting power of 1. All of the DAO’s voting functions can be easily delegated to other addresses that hold IPD. This allows token holders to delegate votes to other parties all within the DAO, such as community artists, trusted programmers, or recognized brands and companies.
Besides the public accountability, the DAO will be designed to ensure that all of the NFT pocket-universes that are on the platform meet the required standards of quality and authenticity. This is achieved through what CRIPCO call the “Curation Contract.” By essentially pooling governance across artists, creators, brands, and more, CRIPCO assures a very wide variety of expertise when assessing core qualities.
In Q3 of 2022, we can expect to see the CRIPCO marketplace launch, as well as the implementation of B2C NFT Mint services.
This is listed in the official roadmap of CRIPCO. In Q4 of 2022, new features will be added to the marketplace, such as referrals, collection bidding, and detailed statistics and visual charts that will enhance the user experience and make it easier for users to manage their collections.
In these three months, the CRIPCO team also plans to add NFT utilities including Motion Capture Contents and POD Service. In 2023 and beyond, even more new features will be added to the marketplace that improve the user experience.
Aiming to build an NFT ecosystem where everyone can create secondary content and merchandise through NFT utilities, CRIPCO is bringing many innovative ideas to the NFT space. And by making it effortless and convenient to buy and sell NFTs on CRIPCO, the platform is guaranteed to attract attention and grow a loyal community of followers, creators, and contributors who all work together to revolutionize the world of NFTs.
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