You’re at a fork in the road-Cheers to YOU either way
Happy Weekend, Brainiacs!
It’s been a while since we’ve posted one of these updates on Medium. Don’t let that fool you. Our team has still been hard at work on our business plan, whitepaper, tokenomics, artwork and more! Our developers are back to work on multiple new items that we will be sharing further on in this post!
First, let’s talk about the future of Cerebral Entertainment. We recently changed our branding to be more in line with our vision as a company. That vision consists of being the best marketing and management firm for content creators of all types and origins. We believed that limiting ourselves to JUST gaming/esports was a disservice to ourselves and to content creators as a whole. Moving forward, we will be building out a platform that is for both viewers and creators alike. Building a productive business that not only grows our treasury but also grows our community and the brands of others is our end goal.
When we initially launch our MVP (minimum viable product), our goal is to create a platform for newer creators to pay for viewer retention on both Twitch and YouTube. We will be creating embedded systems on our site that will link user Metamask wallets with their accounts on Twitch and YouTube. This will allow us to track watch time data to reward those who watch the longest. Creators will pay our company to use these reward services, to garner views, which will ultimately allow them to get monetized.
Moving forward, we will be scrapping any idea of creating a token of our own. After countless hours spent trying to figure out a game plan for our tokenomics, we determined that our platform really didn’t need a token. Instead, we will use native coins of chains we choose to build on to reward our viewers. Additionally, we will be using a unique NFT system for those that choose to back our company financially.
This is where current NFT holders on Harmony must make a decision: You may choose to sell us back your current NFT’s on Harmony or turn 100 of your old NFT’s into whitelist spots for our new platform. Those that choose to sell us back your NFT’s, please list them in bulk on NFTKEY for 10 ONE a piece***. There is no shame or resentment towards anyone that decides to go down this path. We understand that it’s been a rocky road and we want to do what’s best for everyone. That’s why we’re offering a choice.
For those of you that decide to stick around and turn your old NFT’s into whitelist spots, here is our future game plan. We will be creating a tiered NFT system that rewards a certain percentage of our earnings each month as a company, based on the NFT tier that you possess. In our beta system, we will start with a 3-tier system, for a total of 3,000 NFT’s. That’s 1,000 of each tier. These NFT’s will be very rare to hold. Here is the breakdown:
As you can see, different tiers will receive different percentages of company profits. Rightfully so, different tiers will have different minting costs. We will not be releasing all three tiers at once. More info will come out about this at a later time.
In order to receive rewards for revenue on our platform, users will have to stake and lock their NFT’s for a certain period of time. This timeframe is still being evaluated. By doing this, it creates an artificial demand, which inevitably should raise the value of the NFT’s, already having a very limited supply. Each time a user sells their NFT’s, holders get 2% of the resale fee. The other 8% goes into the company treasury. This will help us with our monthly operating costs. (Dev fees, servers, website hosting, business accounts, validator, etc.)
There have been a multitude of reasons for our team to just give up and close shop. However, we are determined that what we’re building is a viable solution that content creators and viewers do not have access to currently. We believe strongly in our team and our community. That is why we’re still here, still building. Thank you to everyone that has stuck around and continues to support us! We’re constantly trying to come up with ways to show our gratitude. More information will be coming out soon. Stay tuned!
Cheers,
-Cerebral Team
***Old Harmony NFT holders will have until November 7th, 2022 to sell us back their old NFT’s. That gives users an entire month to do so. After such time, Cerebral Entertainment will no longer be offering any buybacks.
