Clarification of Snapshots, plans in 2024, and when and what to expect in terms of rewards

Snapshots made 30/31 DEC 2023:

- Number of Bears held per wallet

- Number of wallets holding 10+ bears

- Golden bookmarks held per wallet

This is the first set of 3 snapshots made, although rewards will be distributed before the next snapshot. It’s advised to keep your bears / bookmarks in the same wallet to ensure you don’t miss out on maximum rewards.

There is a lot to get through, so to begin, we’d like to thank everyone for being part of the BearX journey, it’s been a rocky one, and although a few years has passed, make no mistake that we are JUST getting started. Today we will break down a reminder of our core focus, our aim for the future and how value will be generated for BearX overall.

Core mission:

First, the past…(from Launch til Dec 23)

We want to reiterate that BearX Is NOT a gaming collection. We initially did not have a game planned , then about 4 months after launch we officially added development, then it stopped, then we began to build out Sandbox maps, (based on the ownership of the land that we have alongside our partners). Development was stifled 3 times, first because of Minecraft closing web3 development, second by delayed on our internal team builds, then thirdly by Sandbox delays to going public. We still, intend to have a game coming out in some capacity — at the very least, a full experience in Sandbox — with VX bears. For what it’s worth, we do believe not that 2021, 2022 and 2023 was ‘too early’ for expansive gaming in web3 anyway, as the facts show (simply, hardly any game in web3 has any reasonable traction).

The Present (Now)

We are now working alongside WBC / Diverge to do the following

• create a new lore for BearX and BearWotlf
• create a short comic book (drawing, storyline, design)
• create a unified approach for short form content (planning, writing, development, production)

The (Not So) Distant Future

We intend to deliver on the following in the near term (in no particular order)

• Airdrops for those who have held bears and golden bookmarks
• Recalibrate the tokenomics and plan of ROOTx and SROOTx, starting with a governance vote for if ROOTx trading value be defunct and used for swapping to SROOTx, with SROOTx being the core and only token for BearX. (This is subject to a governance vote). Alongside this, further review into capping of tokens, and buy back burn programs.
• Potential discussion about migration of Bears to another chain (as discussed before), or a new collection on another chain
• Finalise a burn plan for SROOTx for Script Nodes, on and off chain rewards
• Finalise product plans (comic etc) on collective growth alongside the wider ecosystem with Diverge
• Begin development on short series, with golden bookmark holders earning rewards based on streaming
• The next Notes of a Bear raffle to give a golden bookmark to two more lucky winners. Golden bookmark gets you a guaranteed reward drop once the content is live on Script TV and aggregated networks.
• Additions to the team, and/or a restructuring of the team to streamline growth
• Cool partnerships to bring more stablecoin, token, and off chain rewards to holders
• Beyond all the above, a further airdrop is expected for holders of BearX of who had completed Zealy tasks via Script Network

Lots to come. Unfortunately all aspects regarding rewards from Script Network can only be announced once the tokens have been trading for a few weeks at least, (which is of benefit to holders of course).

The first step in the meantime is the governance vote on ROOTx and SROOTx structure, and if this will change going forward.

Thanks for the support and we can’t wait to roll out all of the above fixes to get BearX on the road again!

!chomp 🐻

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