An NFT Project With Serious UpsideNov 17, 2021
Let us start off by saying that this is an extremely speculative investment.
We realize that this is not for every investor but this does come with significant upside and is a major NFT project gaining serious traction.
So with that disclaimer lets get into it:
With the decriminalization of psychedelics, just like marijuana, the stigmas associated with psychedelics are slowly dissipating. More and more people will show off their support & fandom for ‘shrooms.
That “hippie” in Cali, a Marine Veteran who suffered from PTSD, or the growing male & female users (ages 18-30) are all developing positive relationships with ‘shrooms and others within the community.
But why is Moby posting about this in Crypto? This seems like a stock play?
How about we use today’s growing NFT market, and see if we can capture more value in the short and long term instead of the traditional stock route.
Therefore we're introducing the NFT project: Non-Fungible Fungi
This NFT project, the "Non-Fungible Fungi" are a Kingdom of 10,100 unique 3D animated Mushroom NFTs strolling through the Ethereum blockchain.
Before you close the page, hear us out.
Each Mushroom falls into 1 of 3 species:
- Bog Standard – Common – 67.9% of population (Bog)
- Mire-Able – Older, Less Common - 31.7% of population (Mire-Able)
- Magic – RAREST – 0.4% of pop. (Magic)
With Magic being the rarest and Bog being the most common.
If you were wondering where we are in the cycle of this project, so far the first 100 ‘shrooms (NFT's) were already minted - leaving 10,000 left to be minted.
But what is really interesting is that the next phase of the roadmap is selling not the minted NFT's themselves but rather the remaining 10,000 passes to the mint. What this means is that as a holder of the mint pass, you get access to a randomly assigned NFT on the day of the mint!
So the way this is actually "illustrated" is through Jars. These jars contain an unknown NFT (in this case some mushroom) that will reveal itself on the day of the Generative Drop (aka the actual mint).
This drop is rumored to be happening on November 19th!
If we lost you through that NFT & Mushroom madness here's the summary:
- There are 10,100 mushroom NFT's
- 100 have been minted (aka created and sold)
- The other 10,000 are being sold as jars (what we referred to as Mint Passes)
- The contents of the jars (aka the mushrooms themselves) are unknown to the user buying them and are essentially are lottery ticket for the holder of the jar.
- On the day of the Generative Drop (aka the large mint), the owners of these jars will finally see what mushroom they have.
- Some will be very happy and others will be pissed but either way we're projecting the floor of this project to be high!
We hope that helps explain it! And now onto the details of the NFT itself.
The Roadmap So Far:
The roadmap for the project is broken up into several steps. The steps are shown below:
- Genesis Drop: 100 ‘shrooms minted (complete)
- Charity Drop: Every single collection will feature a 1/1 very special charity magic mushroom. All proceeds of these sales will be donated to a partner charity of the Non-Fungible Fungi. The Genesis collection saw $175,000 donated to the fantastic Beckley foundation for important psychedelic research and drug policy reform. (complete)
- Mint Pass: Minted - They will put out 9,999 Mint passes through a combination of a Public Dutch Auction (3,000), a Whitelisted private sale for community members (6,699) and hand out 300 directly to Genesis holders. 1 Mint pass is held in reserve for a charity event. (complete but you can still purchase mint passes on OpenSea)
- Generative Drop: Mint pass holders can mint their ‘shrooms (Current state of the roadmap and this is what is expected to happen on November 19th!)
- Spoke Token: ‘shrooms will generate tokens for in-game / in-app currency
- Breeding: Not in original road map, but the community has requested
- More to come
Price of NFT:
These NFTs are selling for 6.5 ETH for the most basic “bog” ‘shroom - which is a relatively high floor. However, the mint passes started at ~0.18 ETH on Nov. 1st and are now going for 0.28ETH.
With approximately $150 in added gas fee's, the price of entry here isn't very cheap, but the upside does actually look to be large!