How Does It Work
Club 101 will have a fixed fund for buying NFT Projects.
Each month the community will vote on a short list of projects. Club 101 will then purchase a quantity of these NFTs by way of minting or by buying them from OpenSea.
Buying NFTs sits well within the ideology of Club 101. Think about group purchasing power over individual effort. We can take this a little further.
Buying large quantities of NFTs can provide rewards to our members in several ways. To illustrate this point lets consider 3 projects known to Club 101 (at time of writing at least).
Buying a ‘gold’ plot in this Metaverse (at time of writing) is 1 BNB. At 90% sold the sale price will increase to 7 BNB. The held asset has increased in value and therefore all members stand to benefit.
Alternatively, Club 101 may provide other rewards for its members by way of using metaverse land and play to earn (P2E) investing, as well as exploring farming, yielding, and staking opportunities.
Funky Monkey Frat House
Buying a Funky Monkey NFT has a defined utility which includes a solid reward mechanism. These rewards are too many to list here but include allowing Club 101 to distribute tokens, raffles, free NFTs, and the ability to stake NFTs (including in a manner to gain exposure to Blue Chip NFTs price action). Basically, the rewards of these NFTs can be shared with members.
Party Retirement Club
Buying equal quantities of Grandpas and Grandmas will allow us to mint a further NFT for free. This project has many traits within its collection which are entered into monthly raffles. It also pays a healthy royalty for holding the NFT. Any prizes won can be added to our monthly prize draws and the other rewards shared with our members.
Buying large quantities of NFTs can help move the floor of projects, and this would not take a great deal.
We have identified 5 initial projects which Club 101 will purchase into on selling all memberships. These costs are correct as of 22 January 2022 and are identified as follows;
|Project||Purchase value (ETH)||Qty of NFT‘s purchased||Free NFT‘s||Total owned|
|Funkey Monkey Frat House||4.406||40||40||80|
|Party Grandpa Retirement Club||4.5306||40||20||60|
Club 101 will use less than half of its allocated budget to secure 250 NFTs which will be held by Club 101 in a separate wallet. This will allow us to monitor rewards that have been received. We will then be able to communicate these rewards to all of our members in a completely transparent manner.
Floor is lava
The floor price of any particular project will affect our members individually and as a collective.
These purchases will, we believe, help positively affect the floor price of these projects. For those holding NFTs in these projects it will have an instant impact to the value of your projects as the floor price will rise on purchase.
As these projects become more successful we expect them to reward their own members, and Club 101 hopes that this has a positive trickle and/or multiplying effect for all members.
Club 101 will also look for opportunities that provide the very best options in respect to rewards, royalties, play to earn mechanics and the like. This is why we identified these first 4 projects. We already have a short list of other projects and have already begun researching them.
Selling of these nft
Generally, Club 101 will not look to flip any NFT purchased. This is because it would be contrary to our own principles of doing Due Diligence, picking projects we fundamentally agree with, and our intention to “hold for the long term”.
However, should any particular project suddenly explode and an opportunity exist to reduce our cost basis and risk exposure significantly then Club 101 would weigh the option of a partial sell. Our Dragon Council will play a key role in strategizing on buying and selling NFTs in a manner that fits with the ideology of Club 101. To be clear, ultimately that ideology is focused on creating value not pumping and dumping.
The whole membership community will be presented options and a channel in our discord will be available for those wishing to promote their own preferences. All voices will be heard and properly considered. That said, Club 101 Leadership will need to make decisions and we appreciate that while not all decisions may be popular they will be made in the interest of the whole rather than the few.