⌛The Corrupt Riches Whitepaper
An overview of our project and our goals...
Welcome to the Corrupt Riches Whitepaper, a simplified documentation detailing our upcoming mint and goals afterwards. If you have any enquiries, or want to be part of this passionate project, come join us over at discord using the following link: https://discord.gg/PvRXVSfUwy.
We begin our journey with our Corrupt Riches collection. With restraining budget and time constraints, we managed to create this beautiful collection that's been in works since May 2022. We wanted to focus on appealing aesthetics and recognizability; hence how we came up with the praying pose. Below are some generation examples of our CRiches collection.
As huge art enthusiasts, we want to create nft's that become the pinnacle of art on the Cardano network. As satisfied as we are, due to financial restraints, we were unable to reach our full imaginative potential. Therefore, our main mission for the Corrupt Riches mint is to provide a catalyst for our creativity to flourish; making support for the project achievable and less financially squeezing on holders.
So with this, after our Corrupt Riches mint, we will commence work on our greatest objective; the art overhaul, or what we codenamed, “Upgrade Theta” (Just a cool sounding nickname, and will be replaced by an official label).
Upgrade Theta will be a new collection, remaining within similar aesthetic boundaries of the Corrupt Riches theme (Wicked rich people in fancy clothing). We will work with professional artists to create a collection we as perfectionists are satisfied with and that will become the pinnacle of art on the Cardano NFT space. This collection will be funded via the Corrupt Riches, which will mint for $10 USD (give or take depending on market conditions for the day), raising a total of $33,330. We have calculated the price of commissioning upgrade Theta to take 75% ($25,000) of the mint budget. 10% ($3,333) of the remaining funds will go to the team and the other remaining 15% ($5,000) will go to a treasury, which can then later be used for future purposes such as marketing/website revamp.
So how will minting CRiches benefit holders. Our team has 2 objectives, to provide the Cardano community with beautiful art and to inflate everyone's wallets. Instead of releasing a second collection separate to the CRiches, we have formulated a model that ensures demand greatly benefiting to OG CRiches holders; in contrast to those who buy first time into Upgrade Theta (Figure 1.0).
CRiches holders will receive access to Upgrade Theta; either through airdrop or WL at a huge discount (Minimum amount: reimbursement of their original mint). The quality of Upgrade Theta's art alone will be enough to raise the holder's portfolio's value; however it doesn't end there. Any holders who have 3 Corrupt Riches nfts can combine and burn them (↓Supply, ↑Demand) into an upgrade token. This token can be used to prestige their Upgrade Theta nft (Similar mechanism to mutant apes). This will make upgrade tokens rare (↓Supply, ↑Demand; additionally with no royalties on the upgrade tokens, so go nuts) and also make CRiches supply smaller. It's a model that creates supply demand whether you hold and/or burn.
As a final discussion, we would like to introduce you to the CRiches team. Both Zeto and Oliver have been part of the Cardano NFT space for over a year now and have the determination and passion to expand this community even further. Feel free to get in touch with us at any point during this experience, whether by text or in call, we are available on all platforms.
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