TL:DR
- Notes of a Bear has 3 in its series, Notes of a Bear volume 1 was the first of the 3 drops.
- All full set holders will be raffled throughout the year, with a group of wallets selected. These holders will have bear(s) they own as part of a television mini series.
- The more Notes of a Bear full sets you own = the higher chance you will be selected in the raffle (this is the benefit of having 10 Notes of a Bear instead of 1). Those with 10 sets have a 10x greater chance of being selected.
- By owning a full set and being selected, you will earn money (stablecoins) through your bears being part of a mini tv series — which will be distributed on Script Television.
- All drops will be free claims.
- You need to own the entire set to gain potential rewards and be part of the raffle.
- The first and ONLY NFT collection where for absolutely no work, effort or cost, you can earn stablecoins / fiat for your holdings.
- BearX (Script Network) is the ONLY project in the industry that has IP, code and development of a platform, blockchain, animators, and ad revenue to date.
- TBA on the first snapshot, but all expected for raffle winners to begin to earn from their bears by Q1 2023.
- You can burn ROOTx (amount TBC) to gain a ‘golden bookmark’— this ensures one of your bears are in the long term writing for the television show, earning 5% of the ad revenue for all shows on the BearX channel. (Open to the first 5 burners only)
- In short, you do not need to do anything besides ensure you do not miss the free claim windows of Notes or if you ensure you buy the full set before the snapshots.
- Further ROOTx burnable events will take place as the network grows.
- None of the above affects the plans of what we are building in the Sandbox, this is added utility.
Hey bears! First and foremost we want to say congratulations to all that minted a Notes of a Bear NFT. This is an entirely new concept never seen before in NFTs — and much like some of the firsts we have achieved in this space, we are excited to lead the way in a new concept that will bring long term value within our collector base and beyond.
So, for those who are not up to speed (firstly with Notes of a Bear volume 1), it was a free claim to Genesis holders only (for everyone 1 Genesis you have, you can mint 1 Notes), and this was entirely optional, and timed to a 7 day minting window. We specifically done this with a timed window and NOT an airdrop so it only benefits engaged holders.
Now to get up to speed in the industry: Most projects has spent much of this year trying to drive value and added utility to holders. The majority has gone down the following routes to drive utility- Merch, IRL events and more collection drops. You could say about 99% of projects has tried to go down this route even. But lately, there has been notable attempts and launches to either give power to holders through IP (Yuga giving rights to owners to give holders the ability to license their NFT for merch, film, tv shows, books etc) or Pudgy Penguins- (who recently this week has given the opportunity to holders to have their NFT in a book series). This is all with the idea that holders can earn more money, notoriety, fame and/or rewards from their NFT long term.
So whats the issue?
To be blunt, the problem is simply the fact that you have 2–3k holders per project, all trying to get book, tv shows and film deals. There are only a handful of studios that are even interested in this time of licensing deal and even fewer that would create content AND be able to distribute it in the next 3–5 years for the holder to make any money at all. To be realistic, the average NFT owner will simply not earn a single cent with the IP that they have been given with a bottleneck process like this. You’ll likely only get the large whales, or those who are attached to friends in the respective industries, that will achieve this (in its current state). So — we fix this issue completely.
How we fix it
To begin with, we have a mini animation team that will be building short, scripted shows potentially featuring Bears who hold a full set of Notes of a Bear. These shows will then be distributed on a network within our ecosystem (Script Network). This means there is no need to wait or hope for it to be distributed, and no leg work needed for the BearX holders to ‘sell’ their concept or their NFT character to big studios. We also will purposely will look to make short, simple shows to allow the process to take weeks / months rather than years (some tv shows, films and books literally take 2–3 years to complete production).
Tech / Codebase wise — we have, for the last year (with our extended team) built an ecosystem that fulfils — for the first time ever — the entire life cycle of owning an NFT > licensing it > distributing it > getting paid. This is because through Script Network — we have a full working TV platform — with a growing animation studio over @ Script TV. All shows aired after full launch will earn ad revenue from the channel showing the show. This ad revenue is not tokens, they are fiat dollars which Bears will get payout in a stablecoin monthly (USDT, DAI, USDC).
Whilst we wanted to have fun in this process, we also waned to give those the opportunity to those that has stacked bears, and ROOTx (or initial token) long term to benefit. So, for the first 5 who wish to burn 100,000 ROOTx — they can earn a ‘golden bookmark’ which gives you a long term payout in revenue of all ad dollars that is earned through the BearX channel. Thats 1% per holder. If only 2 holders burn by the deadline — then it will be 2.5% per holder (since 5% is the total available). In due course on the opening and closing of this opportunity will be announced.
We are always wary of overloading information so we will leave it there for now. There will be documentation and further announcements to cover the above. But in short — hold onto your bears, your Notes, and look out for the next major announcement in regards to this — which will be the release of Notes of a Bear volume 2.
So whats next?
A confirmation on the process of what you can expect from now (approx process and dates). All of the below is subject to change*
- Notes of a Bear volume 2 and 3 free claim drop (Q4/Start of Q1 2023)
2. Full set first snapshot and raffle commencement (Q1 2023)
3. First slate of shorts written, created and brought to life (Q2 2023)
4. First shorts aired, with ad revenue being generated* (Q3 2023)
5. First payout for raffle winners + Golden bookmark holders (Q3/Q4 2023)
Since this is a new concept this is something we want to ensure we get right and thus, may have to delay or postpone should we feel its best for the project. However, we have tested these outcomes and do believe we can achieve exactly this in and around this timeframe.
A final message
We are so excited to bring this to holders and feel this process is truly rewarding to those long term. Our team of 20+ has built all of this IP, code and development off the back of 1 payable collection mint — that minus repayment costs from a hack — was a 0.01ETH mint. We have since given away over $200,000 worth of value, NFTs and ETH this year, alongside free tokens, partner benefits from holding bears, and a Mini Bear drop. Beyond this, all Minibear holders are getting a free claim for BearVX. We feel proud that we have taken the minimal amount of funds to maximise the experience, and we are pleased that we can bring this experience and process — something that would take any other project 6 months+ to build and cost over $500,000 in costs.
Lets do this bears!
Website: https://bearxlabs.com/
Opensea BearX Labs: https://opensea.io/collection/bearxlabs
Opensea Notes of a Bear: https://opensea.io/assets/ethereum/0xc5f9ab5d6238fb9ca580d902c3122436032f0064/1
Twitter: https://twitter.com/bearX_NFT
Medium: https://bearxnft.medium.com
