Whale develops from users, artists, and assets in three dimensions to improve community recognition and brand communication. In the not-too-distant future, Whale “treasury” may not only become the vane of the development of crypto art, WHALE is more likely to become the basic currency of crypto art transactions.
Written by: Leo Young
In September, Chain News published an article entitled ” New Trends in NFT: Community Token WHALE Launches Liquidity Mining “, this article is a supplement to the above.
The rise of the concept of NFT has made the crypto world a vast sky where imaginations can fly freely. As a way to build personal brands and develop communities, social tokens have gradually appeared in various explorations. And Whale, a social token created by anonymous NFT collector WhaleShark in May of this year, is one of the newcomers.
For most people, art collection is out of reach, and high prices and thresholds for identification will discourage many people and become activities that a few people can participate in. What Whale wants to do is to allow ordinary people to participate in art investment and enjoy the benefits of art appreciation.
Guaranteed social token
Since the establishment of the Bretton Woods system, modern currencies have abandoned the gold standard. The legal currency of government credit guarantees discards value anchoring and issuance restrictions. Since the Covid-19 pandemic this year, the world’s major economies have even used their money printing machines. The United States has launched a six trillion US dollar economic stimulus plan, and the European Central Bank has also launched a two trillion euro economic rescue plan. “Out of thin air” poured into the market.
As a social token, WHALE solves the problem of lack of actual asset support for funds. WHALE uses tangible NFT with both scarcity as collateral to ensure its value stability.
All WhaleShark’s NFT art collections are stored in an account called “the vault” , and this account is the key to supporting the value of WHALE. “Vault” is also one of the most valuable accounts in the NFT collection field at present. All Whaleshark personal purchases will be deposited in the “Vault”.
“Treasury” will look for NFT projects with the most potential and long-term value in the industry, acquire the most valuable and scarce NFT works of these projects, hold them for a long time, and continue to purchase them. The “Vault” collection has covered almost all the works of well-known digital artists, such as Pak, Hackatao, and Coldie. Recently, Pak’s work “Terminus I” was purchased for 40 ETH, and the work ” BioNet Baby ” by Chinese artist Zheng Xiuli was purchased for 50 ETH.
Zheng Xiuli “BioNet Baby”
With the rapid growth of the NFT market, the collections of the “treasury” have become more abundant, and this has further reduced the possibility of Whale project failure or token depreciation, and the potential for value-added has become more and more worth looking forward to.
According to the audit report released by Nonfungible in September, the total value of the “treasury” currently reaches 3957 ETH, or approximately US$1.24 million, an increase of 49.3% from the previous month.
In total, the top three collections are from The Sandbox with 49%, SuperRare with 15%, and MakersPlace and God Unchained with 7%. In terms of value, the top three are from SuperRare with 37%, God Unchained with 15%, and CryptoVoxels with 13%.
The value of the investment portfolio has grown, with an increase of nearly 165% between August and September.
Economic model
The total amount of WHALE issuance is 10 million, of which 4 million are reserved for community rewards, and 50,000 are released every month for a total of 80 months. Another 1 million pieces are used to reward project founding partners. The remaining 5 million pieces are temporarily hosted by WhaleShark, and will be used by the Whale DAO community as the community matures.
Among them, 50,000 WHALEs per month are used for Treasury NFT acquisitions, bonuses, compensation for team members, and community activities. The latest distribution plan cancels the WHALE repurchase plan, of which 15,000 WHALE will be used for bonuses, 10,000 will be used for operations, 5,000 will be used for events and airdrops, and 20,000 will be used for liquid mining/HODL to Play (H2P).
WhaleShark has no plans to sell tokens. All WHALE tokens are distributed to community users, liquidity providers, partners, and contributors in the form of airdrops. The purpose of token distribution is to distribute tokens to the most suitable people who continue to pay attention to the project and contribute to the community. Let tokens become the best binder for the community.
Create a sufficiently sticky community
HODL to Play (H2P) is an incentive game that encourages holding coins and focuses on long-term value. According to the amount of holdings, three community identities are obtained: “Dolphin”, “Shark” and “Whale”. Each status has exclusive rights. For example, Dolphin can regularly participate in WHALE Poker poker games. “Shark” or above can participate in Bermuda social games. There are exclusive groups for different identities, and different amounts of tokens can be distributed and exclusive information.
To obtain the above three identities, users need to hold a certain amount of money. The current required currency holdings are 12 (“Dolphin”), 300 (“Shark”), 600 (“Whale”) WHALE, and the currency holding requirement is monthly Increment.
Whale also collaborates with other communities. For example, if you cooperate with Hackatao, you can enter the #Hackatao channel with the identity of “Shark” or 1000 MORK of Hackatao tokens to enjoy airdrops, artwork tasting, artist cooperation, discounts and other rights. Also cooperate with ALEX for community interaction.
In addition, the project will also issue rewards to users who provide liquidity for the fund pool. The total bonus amount for participating in liquidity mining each month is 8000 WHALE. Users can choose different fund pools to provide liquidity to participate in mining according to the amount of funds and transaction pairs.
Furthermore, artists can also mortgage their NFT works to “Treasury” and sell them at WHALE price. The project will give out a total of 2000 WHALE awards to ten artists every month.
“Nakamoto Consensus” in the NFT industry
If the proof-of-work POW is the basis of the “Satoshi Nakamoto Consensus”, then WHALE may become the “Satoshi Nakamoto Consensus” of the NFT community.
The value of WHALE is based on four points:
- The value of “treasury”;
- Community recognition;
- Brand awareness;
- Token function.
Whale develops from users, artists, and assets in three dimensions to improve community recognition and brand communication. The continuous innovation of the team and abundant resources will be the source of the continuous development of the community.
With the rich collection of “Vaults” and the increase in the proportion of high-quality collections in the field of digital art, Whale “Vaults” will not only become the vane of the development of encrypted art, WHALE is more likely to become the basic currency for encrypted art transactions.
In the long run, the value of WHALE tokens will increase as the value of the “treasury” and income increase. There is a reasonable valuation target, the degree of token dispersion is high, and the community viscosity is strong, the token market volatility will decrease. It can be used as a stored value (SoV) or as a medium of exchange (MoE). It is also natural as a unit of account (UoA). The goal of WHALE is to become a token for transferring value among NFT collectors, creators and enthusiasts. It may even become an anchor asset for personalized social tokens.
In the future, the value of the “treasury” will not only come from the value of the collection. As the derivatives market continues to iterate, the art derivatives on the chain will bring more value than expected. Artists will bring more value to the community.
The security of the Vault and the identity of WhaleShark
“Treasury” will be handed over to the open and transparent community DAO in the future, but it is currently hosted by the Whale team. Multi-layer security measures are adopted, and managers located in multiple countries are responsible. In order to prevent malicious attacks and acquisitions, participants in the specific process are unknown and kept confidential. If any accident happens to the custodian, senior members of the community will restore the “treasury” together.
The identity of WhaleShark is verified by ten members of the community. Personal disclosure began to get involved in the field of encrypted assets in 2012, and has 17 years of experience in the fields of artificial intelligence, retail, traditional finance and brand management.
The community mentioned in the article ” Why Created WHALE ” that the purpose of creating WHALE is to share value, explore curiosity about NFT and create value. Sharing and creating value is also Satoshi Nakamoto’s original intention to create Bitcoin.
Future opportunities and challenges
With the rapid development of blockchain, the combination of NFT and digital art is most likely to introduce new users first and cross-border into other fields. The addition of more artists will attract artists’ fans to pay attention to the field of NFT and crypto assets. Encryption art is also the most compliant area with the least regulatory pressure. With complete infrastructure, increasing number of individual artists, rich content, and community development, we look forward to WHALE’s continuous surprises.
At the same time, it will also face market tests. For example, “Vault” collections are mainly priced in ETH, and the value will fluctuate with the price of ETH. How to accurately capture actual value and how to manage assets through DAO are all challenges to be faced in the future.
