Bi Monthly update: January + February 2023

BearX
5 min readMar 3, 2023

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Hey all. As we enter March, we would like to keep our community updated bi monthly through longer posts like this one. That said, we have information mentioned in smaller announcements across social channels besides this.

So, where are we at? Well, the core focus of the opening part of the year was to re-focus on what matters within our roadmap, alongside re-building foundations to grow the project as planned.

Notes of a Bear final mint, Snapshot and consolidation

We completed the Notes of a Bear claim process, giving those who owned previous Notes, the opportunity to claim the final book in the series through a free claim, open for just over a week. Crucially, we now move onto the phase to begin the snapshots for Notes of a Bear holders, so what does that entail and what is the significance?

Although there is various articles on this, the short story is we @ BearX Labs wanted to innovate. Beyond merch, and beyond (just) a gaming experience blah, we wanted to bring holders unparaelled utility. So, by owning a full set of Notes of a Bear, holders will be put into a raffle. 1 set = 1 raffle place. If you own 3 sets = 3 raffle places. The raffle will be drawn based on multiple snapshots randomly taking place over March. The winners will be announced and those winners will gain the opportunity for one of their bears to be put into a mini series, aired to an aggregated networked of over 100,000,000 devices worldwide through Script Network. Simply, this is a pivotal moment because the show ‘generates’ revenue from the adverts that are shown during the airing. That ad revenue will be paid out to the wallets who own the bears that are part of that show. Whilst we never will promise any particular amount of payment, nor will we say what we are doing isn’t challenging, we will openly say this is a breakthrough in NFT utility, and the first of its kind. We would love to break down example values of how much can be earned, but we will continue to collect data and give a more accurate breakdown for this in due course.

ROOTx / SROOTx burn

Long in waiting, we are pleased to also announce that we will be beginning our burn process for ROOTx over the coming month. The burn eventsintends to significantly cut down the supply of ROOTx but up to 30–40% at least. This will include (but not limited to) the following.

Golden Bookmark: The Golden Bookmark acts as the only way to guarantee one of your bears is written into the show long term. This will be a significant burn and (to be blunt) is to value those who have held and/or staked their ROOTx over the last year. The amount to be burned is TBA, but expect that to be confirmed before the middle of March, before the burn, shortly after

Running a node: Script Network (a open source video protocol), is the umbrella of BearX Labs, and thus comes with various benefits through holding or owning assets across BearX. Since Script Network has its own blockchain, there is a direct opportunity for everyone to earn daily through running a node from their home. This will cost everyone a fee (payable in the Script Network native token), but BearX holders who own enough SROOTx, can burn tokens to run nodes on the network

NFT drops*: We have started to formulate some cool partnerships that will either bring utility value (like being able to take part in events or games of that project / or free allocation to mint) from a few projects. Alongside this, we will be working with some teams on collaborative mints across multiple chains (Script Network, Bitcoin, Ethereum, Arbritrum etc). Any of these drops will come with value for holders.

Sandbox: They are due to go live on their final alpha season before public Beta around May, so hopefully we can (at least), be in a demo phase by then. In the meantime we’ll continue to elevate our current experience as much as possible alongside strengthening our partnerships with our good friends over at Wicked Bone Club. Further to this, our VX mint will certainly be a joint collection alongside WBC and co, largely to coincide with our vision of building sustainable models together, alongside sharing land in Sandbox.

Airdrops+Rewards: This month Script Network will be announcing the allocation of tokens across the ecosystem. BearX holders are guaranteed a drop by taking part in Crew3 tasks, but larger holders (+5 Bears) will have the chance to claim significantly more. Exact numbers is TBC strictly until its announced, so please do not listen to speculation and hearsay on this. That said, this will not be a direct airdrop and will require you to claim, so please be active to ensure you do not miss out on the free tokens.

Partnerships: We recently have announced a partnership with Olandbox — a marketing and development studio house based in China. This will allow BearX Labs to be supported across an entire region, with future access to their metaverse products for holders later this year too. We have two other partnerships due to be announced over the next few weeks that is a further step to our long term vision and focus in that region and beyond.

Community + Marketing: Lastly, we understand it was a rocky end to 2022 across crypto, NFTs, and not least our own community. We are excited to be slowly rebuilding to a new future @ BearX. We will continue to focus on growth in product development and innovation at the forefront, but marketing is something we will consistently push on. In the first 2 months of the year we have grown by over 16%, and feel this is just the beginning based on the attention and noise that will come alongside BearX Labs due to pending news.

About BearX Labs

BearX Labs is a community-first NFT brand, focused on delivering innovation within the NFT space, alongside resources and experience from web2 into a web3, sustainable, scalable ecosystem. Products within the ecosystem include a limited 3700 Genesis Bear collection, a two-token economy, and a partnership that gives every holder the ability to own and run a node.

Website: https://bearxlabs.com/

Opensea: https://opensea.io/collection/bearxlabs

Twitter: https://twitter.com/bearX_NFT

Medium: https://bearxnft.medium.com

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BearX

In a post apocalyptic world, BearX have survived, regrouped, and readied themselves for domination in the metaverse. !chomp