BAS x NFT Launchpad Community AMA 5 May 2022

What is the NFT Launchpad? (3:24)

  • Outsourcing BAS expertise in NFT smart contract development, NFT product design, planning, and sale execution 

  • Similar to existing token launchpads, but instead with NFT collections 

  • Vetting procedures have already begun 

  • Looking for projects that are the "cream of the crop"  

  • Ultimately, BAS asks the question - "would we buy these NFTs?". If the answer is no, they would never be featured on the launchpad 

  • Will only feature projects that BAS believes in – including a combination of the product, product market fit, the team, and the founders. Character is very important.  

  • Will also feature projects that a further in development. Different projects are categorised based on this, containing various risk metrics depending on their level of establishment and vetted carefully and precisely.  

  • BAS wants to provide the launchpad to projects that provide real value to their customers, and stay away from projects that are presented as a cash grab. 

  • External resources will likely be used to help BAS initially vet projects, followed by BAS' business development team and lastly to the Dev team and smart contract developers to finalise technical aspects, or to other team members if the projects are looking for assistance with other areas.  

How will the NFT Launchpad benefit BAS/Gamester holders? (8:46)

  • Two different privilege mechanisms: 

    • BAS - Early Access – e.g. Sale starting at 6pm – BAS holders can access at 3pm (Not a whitelist).  

      • High likelihood of being able to secure NFT purchases 

      • BAS will have a vault contract where users can lock in their BAS tokens – more BAS locked – earlier access 

      • Leveraging new following from these projects into the BAS ecosystem with the idea of getting them interested in buying BAS for early access to these NFT's and keeping them as BAS holders. Overall gives utility to the BAS token. 

    • Gamester - Discounts on NFT purchases – Gamester holders will get a discount on projects on the launchpad.  

      • Will be tied to Gamester traits and Chainlink VRF – shows off this system 

      • Likely once a month (scaled depending on how many projects are coming through the launchpad) a gender, background and specific trait will be randomly chosen through Chainlink VRF 

        • Correct gender = 5% discount 

        • Correct background = 10% discount 

        • Correct specific trait = 25% discount 

        • All 3 correct = 50% discount 

      • Demand and value clear to the user 

      • Gamester's will also have a vault contract. Vault will be locked during sales to prevent cheating of the system with multiple wallets 

  • Security is a major factor for the avoidance of foul play - - locking BAS and Gamesters at relevant intervals prevents this 

  • These systems being developed bring value to ALL assets that ALL investor types – increased utility to both token holders and NFT holders 

  • Smart contracts are designed so that necessary changes can be made without affecting the user experience e.g. no need to withdraw tokens from the vault when changes are made  

  • Aim to have a single vault that can integrate discounts/benefits into the marketplace that is readable across other ecosystem elements - easy UI and UX 

What can BAS offer that other launchpads don't? (19:02)

  • Providing tailored smart contracts 

  • Most NFT smart contracts are not based on original code and are rather copy-paste, meaning they are clunky and have limited long-term or expansive utility. Many lazy developers that are not optimising their smart contracts 

  • Most top smart contract developers are working on DeFi 

  • BAS can offer extensive security auditing, increased efficiency 

  • BAS will design NFT sale and smart contracts to minimise gas costs e.g. Waves/Dutch Auctions 

  • BAS brings significant expertise from a business, modelling and planning perspective. 

  • If you know or have an idea of what you want to make in an NFT product, BAS will sit down with you to see what value can be added, get creative, what legalities to consider and discuss, gain an understanding of common sales pitfalls from a community and customer perspective. You need an NFT collection to sellout otherwise it could taint the success of the project. 

What specific types of projects are BAS looking for? (25:01)

 There are 3 types of projects BAS is targeting 

  1. Sole entrepreneurs at the start of their journey 

    • Projects that have low funds but a high level of talent and promising team 

    • BAS want's to prove its ability to recognise talent and cultivate it, making the most of the potential that is there 

    • Mainly crypto based 

  2. Existing start-ups  

    • Potentially have an MVP out that are legitimate/doxed and building a real product.  

    • Projects that want to fundraise or explore how NFT products fit into their ecosystem 

    • Cross pollination of ecosystems:  Mutually beneficial integrations with manpower and expertise from BAS. Collaborations! 

    • Also mainly crypto based projects – may have seen the NFT hype and want to integrate NFT's into their ecosystem but don't have the resources to do so  

  3. Brands and Businesses outside Web3 

    • Already have a business product and brand image 

    • Lower risk for BAS to work with 

    • People outside of crypto that what to get into crypto through NFTs 

    • Biggest opportunity in terms of exposure and community growth 

    • BAS will look to present these businesses with our expertise and ability to analyse their business and clientele, working with them on an NFT product which brings real value 

    • Their clientele who uses their products will move towards BAS thus creating a secondary market for the assets 

    • e.g. a brand could release an NFT that provides a lifetime subscription – clientele may be initially confused but once crypto evolves, they will understand that there is heavy value purchasing the NFT instead of spending money on a yearly fee. Secondary market creation and secondary value for their clientele as they become more familiar with web3, as more move from web2 to web3 

  • Currently not looking to provide art to projects, possibly connections to artists but right now the objective is to offer assistance on business modelling, technical side and marketing. 

Comments from Matt  (33:55)

  • First NFT project to be on the launchpad is in progress 

  • Wants to make the NFT launchpad the best thing ever, directing a lot of time to make sure it is polished 

  • Believes there is a high demand for the NFT launchpad due to projects having the art but not the other necessaries to gain a position in the market 

  • Projects need a guide to walk them through the Web3 experience, the metaverse and create a market strategy 

  • BAS has the skills, experience and the manpower to scale and make a huge impact in this space 

  • The launchpad will feed directly into the BAS ecosystem, allowing community diversity and leveraging of collaborative assets – benefits everyone 

  • Integrations of these projects with the BAS game/ecosystem need significant planning - needs to have a viable value case in order to proceed. Very important that there is scope to the value that can be provided by adding to the ecosystem. Tactical and strategic planning is immense and what the community sees currently is like an iceberg – so much going on below the water 

NFT Launch Timeframes (39:55)

  • Based on observations and experience - At least a month, to a max of months between the announcement of an NFT project to the sale of the NFT. Extensive planning needing depending on the complexity of the project 

  • Sell out is important and secondary demand is crucial for 1 to 2 months before it is solidified in the mind of the community, "this NFT is here to stay".  

  • BAS will analyse on-chain analytics of these projects, understanding how many whitelisters buy and how long they hold to determine how long is needed from announcement to execution of sale. 

  • Planning/Tech variable before announcement – needs to be an understandable and well ideated product. 1 month to a year depending on scope. Tech consultation 2 weeks to 2 months.  

    • Projects must be able to answer : Why would someone buy your NFTs?  

    • Long term: 2 month timeframe between approval of a project and announcement. Depends on complexity of integrations. MUST be able to sell out. No announcement unless it is clear that the projects know how they are approaching their sale in order to ensure sell out. Longer timeframes may mean the project won't work out like it should 

    • Projects should have their own ideas and not expect every little thing to come from BAS 

    • More challenging to get an NFT collection to sell out now due to an influx of terrible collections over the last 6 months 

  • Matt has confidence that BAS will be able to pick the right projects 

How many businesses/projects has BAS been in contact with so far? (48:26)

  • 10-20 projects have been vetted so far 

  • Inclined to be discerning. First one is key, build from there. Managing risk to protect our reputation. Obligation to ensure high chance of success. 

  • Massive amount of boxes need to be ticked just to get past the first stage of vetting. 80% of projects will likely be an automatic no due to projects just wanting a place to launce their NFT's without further considerations 

  • Not a vanity project but a collaboration between quality products. 

How can projects/brands get in touch to be on the NFT launchpad? (52:35)

  • Form and contacts will be up on the site 

  • Partners are positioning the launchpad for BAS. Many channels funnelling into the Launchpad. 

  • The launchpad itself will have a dedicated section to get in touch - Email based for the Business Development team to go through. Will be very easy and direct.

Extra Community Questions

What is the status of the Series A Funding? (55:03)

  • A number of potential partners knocking on the door 

  • BAS could get all the money needed by tomorrow but it's not about the money, it's about working with the right venture capitalists and partners that can promote and endorse in the right areas 

  • Elevate above simple fast money like other projects 

  • Looking for 7-10 lifelong partners where the partnership is mutually beneficial, to build an amazing future for both to leverage over decades. Not about the money but providing bandwidth to expand into the right areas over time and take advantage of opportunities as they arise. 

  • Matt has a potential list of 45 VC/Partners 

  • Timing is key, many opportunities continue to arise that pushes back funding 

  • Funding should be coming soon, may be a while before it is publicized 

Tournament Mode/Future Betas (1:02:21)

  • Tournament Mode 

    • BAS wants to have a compelling PVP game for BAS that is fun and engaging, that people will ultimately play without a secondary earning mechanism 

    • When that happens Tournament mode will be built out. No time frame currently. 

    • On a multiplayer level it needs to be entertaining and this comes from a game that is desirable to play at its core. 

  • Future Betas 

    • Future Betas with a reward mechanism will continue within the ecosystem 

    • These will come and go with new game modes that come up that are ready for beta testing – not a continuous, fixed timeframe 

    • Will be for testing certain mechanics that need testing before full release 

    • Should be viewed as incentivised feedback and bug fixing  

Will there be a banana farming cap? (1:07:46)

  • There will be no cap on earning bananas  

  • Earn bananas when you win, tied to the account you play. 

  • There are security caps and mechanics for stabilising the economy and preventing exploits but no cap for player earning 

While a Gamester is locked for the NFT launchpad, does this effect playing within the BAS ecosystem? (1:09:57)

  • The vaults will scale beyond the launchpad, although there will be some scenarios where the gamester will need to be locked e.g. if it is locked for the launchpad, you won't be able to use the gamester for beta rewards 

  • Dan is looking at a system where Gamesters locked in different smart contracts will still have utility within the game 

  • Ultimately by locking the gamester into one smart contract, you won't be able to lock it into another smart contract 

  • Matt – Gamesters will act like a special agent, the smart contract will act as a destination – The agent can't be in 2 places at once. May be instances where your gamester still has an impact in some areas but not everywhere 

Will we be able to lease out apes in order to earn bananas? (1:13:48)

  • No definitive answer currently  

  • BAS is looking at different ways where this can be incentivised, ultimately the focus has to first be on the game itself being fun and driving players into the economy, from there different earning mechanisms can be strategized 

  • Action and demand is key 

  • BAS doesn't want this area to be overused – not favorable long-term currently 

  • Intention is to provide an ecosystem that has no barrier for entry, but this can[t be led with as it would flood the ecosystem and cause less tangibility of use-case and less intrinsic value 

  • Idea is to create a critical mass of users that will move their apes through the ecosystem for different purposes and strategies, once this occurs then there is traction and incentivisation to build this kind of system 

  • Long-term future of the project and community is the most important factor 

  • Currently monetary value won't be assigned to these tokens due to legal factors, though this will be monitored continuously 

  • If there is demand for high level apes, bananas will equate to monetary earnings due to the demand – whether or not you can immediately sell those bananas. Avoidance of early oversaturation is key 

  • By introducing banana earning at a lower level entry point, this equates to management issues due to it opening the floodgates 

  • Anything introduced here needs to benefit the sustainability of the ecosystem. Balance is critical