Pixel Inc: ‘artvertising’ NFT
Pixel Inc is an experiment in collaborative ‘artvertising’ and a tribute to web design of the past. Inspired by the Million Dollar Homepage, blocks of pixels on a 1000x1000 canvas will be sold with some funky tokenomics and Multi Level Marketing. After 2 weeks, the final canvas will be sold as NFT.
Phase 1: Creation
Starting with a blank canvas of 1000x1000, pixels will be sold in blocks of 10 by 10. Each block has a description and a URL. Multiple blocks can be bought to create/upload larger images.
All the pixel data, descriptions and urls are stored fully decentralized, on-chain on the Polygon blockchain. The Polygon (Matic) blockchain was chosen for it’s low gas costs.
The starting price for each pixel is 0.1 MATIC. So a 10x10 block is 10 MATIC, which is around $10 at the moment.
For every pixel purchased, your receive 1 PIXEL token.
Once a pixel is sold, it can be bought for double the last sale price. So after it was bought for 0.1 MATIC, it will cost 0.2 MATIC. Then 0.4 MATIC, etc.
When you own a pixel that gets bought, the amount of MATIC you paid for it gets refunded to you. But you get to keep your PIXEL token. ✔️
Phase 1B: More creation on Ethereum
After the success on Polygon Chain, we held a snapshot vote for token holders and they unanimously voted to redeploy on Ethereum mainnet. Unlike most NFTs, all the information (including the pixels) are stored on-chain. This meant that deploying to mainnet cost 28.7 ETH ($93k). The team used the profits made on Polygon to pay for this.
The canvas will be open for another 2 weeks until the 28th of August. Prices are converted 10 MATIC = 0.005 ETH.
PIXEL tokens can be traded on SushiSwap.
Multi Level Marketing?
Yup, Pixel will include a 3 tier MLM scheme. You can create your affiliate link and refer others to Pixel Inc. If they buy PIXEL tokens, you’ll get 20% bonus. If they refer someone who buys, you’ll get 10%. And the 3rd tier will net you 5%.
Let’s take shilling to a whole new level! 😛
Phase 2: Perpetual Sale
Once the creation phase is finished, the final canvas is turned into a single NFT. This NFT will be for sale for 10% of what was paid in total. So if every pixel was sold once, total amount paid would be 50 ETH and the starting price would be 5 ETH.
When the NFT sells, the proceeds go to the PIXEL holder pool.
The NFT will ALWAYS be for sale for 150% of the last paid price. Anyone can buy the canvas NFT at any time for 150% of the last sale price. When a resale happens, the original sale price + 10% gets refunded to the last owner and the rest goes to the PIXEL holder pool.
So if the NFT gets sold over and over, the funds in the PIXEL holder pool will grow. PIXEL tokens can be burnt anytime to redeem their share of the PIXEL holder pool. With those PIXEL tokens burned, future sale proceeds will go to remaining holders, increasing their share.
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Please ask them on Twitter or Discord…