When you invest your monies into an NFT, there is an inherent need to search for what value the NFT offers. Though, most NFTs are not suited to satisfy the investment needs and liquidity needs of all holders based on their risk and taste, some of them are uniquely designed to offer a wide range of value propositions. ICPics collection is certainly one of them. In this post, we will detail all the sources from where ICPics genesis NFT derives its value.

The value of your ICPics art is given by the following equation: V=f(N,p(d),p(c),m,D,S) where V is the total value of your ICPics art, N is the low initial supply of the collection, p(d) is the chance to receive an initial NFT drop that accompany your art, p(c) is the chance to receive the secondary sales commission (typically, about 1% to 2.5%) on all future trades of the art, m is the membership NFT, D is the merchandise discounts in our web shop, and S is the long-term store value of your art.

Value and the initial supply N

Scarcity is the mother of things value! That is true for NFTs as well. Our first collection — the genesis collection — is a collection of only 1,000 NFTs. Read this article by Adam Kantrowitz on why scarcity matters when it comes to collecting NFTs. In a nutshell, the price discovery is more direct and less volatile in a market that is driven by the high demand and the low supply. Our collection has both — high demand and low initial supply! By packing our NFTs with incentives to hold in addition to the high social value of owning a ethnically diverse product, we anticipate a further lowering of the circulating supply in the secondary marketplace.

Value and the chance of NFT drop p(d)

3.5% (35 out of 1,000) of our NFTs carry the all-recognizable classic ICP logo as a micro imprint, the placement of which varies from artwork to artwork. We took special care to conceal these micro imprints as much as possible by analyzing the color map of the entire artwork before deciding on a placement location. In this regard, we differ from other layered NFTs that just affixes attributes in one recognizable place using a code. In fact, most of our holders are only aware that they are in possession of a prized micro imprint artwork when they verify the metadata and use a magnifying glass on their artwork subsequently.

Figure 1. Micro imprinted ICPics NFT

Each of these 35 NFTs would additionally receive a random ICP project’s NFT on mint date. Each minter has a 3.5% probability of receiving this drop.

Value and the chance of receiving commissions p(c)

🙋︱requests-and-ideas channel of our Discord server surveyed our followers to share their art concepts to us. 1% (10 out of 1,000) of our NFTs were dedicated to these fan-driven artworks. And, we received an overwhelming response of innovative ideas — ranging from Traditional forest wedding to Shamanic healing rituals to Ahwahneechee tribes of Yosemite.

Figure 2. Special mentions ICPics NFT

Each of these 10 NFTs also have the classic ICP logo, making them eligible for a free NFT drop during mint. Plus, all commissions from secondary sales of these 10 NFTs go to the followers that shilled the ideas for its creation!

Value and the membership m

All ICPics NFTs, including the genesis collection, will receive a membership NFT. This NFT will either be on the ICP blockchain or on the Polygon ETH blockchain. The membership NFTs are generation-specific. That is, membership NFTs that you receive for participating in the genesis mint will earn you the option to participate in presale of the next release — Female PFP, which is set to release in Q3 2022. However, you may forego that option and sell your membership (i.e., the NFT) to someone else for any price you deem appropriate, in which case you won’t be able to participate in the subsequent release’s presale. At Female PFP mint, all these membership NFTs will loose its value and must be returned to the our developers wallet, where it will be burned. Returning to our developers’ wallet will earn you a presale spot for Female PFP mint.

Figure 3. Membership NFT

Value and the discounts D

We are planning to our own ICPics art merchandise and also partner with ethnic-diverse merchants from all around the world to sell limited quantity one-of-a-kind physical items directly from our online webstore. This webstore is planned for 2023. All sales will be in Internet Computer ICP tokens only. If you buy merchandise from a wallet that holds an ICPics NFT, you will receive discounted price on all webstore items.

Value and the store value of ICPics S

Our tokenomics is simple and straightforward.

    1. a portion of the initial proceeds from the sale will be directly locked in DFINITY’s eight-year nodal staking platform,
    1. a portion will go for charity,
    1. a portion will be used to buy other ICP project’s NFTs to be used as drops for our future launches, and
    1. the remainder will be used for research, development, and maintenance of our project.

For our genesis release, the net-after-tax allocation of our sale proceeds will be as follows: {A, B, C, D}={60, 0, 10, 30}. That is, 60% of the sale proceeds would be held in ICP blockchain and an additional 10% would be held in ICP assets outside the purview of our developers. Which means that our inherent success is strictly tied to success of the ICP ecosystem and ICP NFT projects.

Ending thoughts

Finally, we are planning to conduct contests, drop goodies, and provide some free merchandise to our Discord, Twitter, and Instagram followers.

  • PS: If you have any questions about your NFT, let us know in the ticket channel in our Discord server.

Join our Discord, Twitter, and Instagram

We have spoken.