This article is designed to explain the benefits for NFT collectors of PSYDAO TOKENS and profit distribution. The NFTs produced and sold by the PSYFAM are divided into (1) TOKENS and (2) Premium Extra Trippy 1/1 NFTs.
The PSYFAM are the artists, and collectors. The PSYDAO is the decentralized autonomous organization. Both PSYFAM Artists and Collectors can take part in the PSYDAO. There is more than one type of token, All tokens have the same benefits, but hold different value.
PSYDAO TOKENS EXPLAINED
PSYDAO TOKENS; BENEFITS
& PROFIT DISTRIBUTION
GENESIS 420 SERIES TOKENS – Overview
The 420 series PSYDAO tokens are listed on Opensea for a fixed amount of 0.1 ETH
Each of the tokens represents an artist from the PSYFAM.
The 420 series is limited to 420 tabs, each token is strictly 1/1.
Each PSYFAM artist will be limited to 1 token design in this series.
The first 100 tokens; artists will be chosen by PSYDAO founders.
The next 300 tokens; artists are chosen by existing Token holders.
20 Special tokens are reserved for special stars of the Psychedelic culture. These will be selected by the PSYFAM founders. (To be announced who)
GENESIS 420 SERIES TOKENS - FOR NFT COLLECTORS
Collecting PSYFAM 420 series tokens on Opensea grants the owner special benefits.
We use transaction verification for some of the benefits (for example voting privileges), if the token is re-sold the benefits are transferred to the current owner of the token.
BENEFITS FOR GENESIS 420 SERIES TOKEN HOLDER
TOKEN HOLDER ELIGIBLE FOR 5% ROYALTY RAFFLE EVERY TIME PREMIUM PSYFAM NFT SOLD
Whenever PSYFAM sells a premium NFT on another platform (eg. Foundation, Superrare etc) all token holders are automatically enlisted into a raffle to win 5% royalty from the primary sale of that NFT!
DECISION MAKING FOR PSYDAO
This will includes voting for which artists tokenized in the 420 series tokens and which charities and psychedelic research organizations we donate to.
PSYFAM METAVERSE SPECIAL MENTIONS WALL OF FAME
Besides getting honorary shout out through our social platforms, NFT collectors of the PSYDAO tokens will have their names carved into the wall of supporters in our metaverse(currently viewable on our homepage)
PRIVATE VIP DISCORD CHANNEL
News before its news. Discord channel only for token holders
We have some very desirable NFT artists in our fam, usually their NFTs sell before you can say MINT. For this reason we will inform token holders about NFTs before they are to be minted. This information will be shown in the private discord channel
PRIVATE NFT SALES
We will also hold private sales on Opensea, NFTs not available to purchase in the public domain. Details will only be accessible to token holders in our VIP discord channel.
There are many exciting aspects that we can’t reveal at this stage, but we will make an announcement early to mid 2022 about other exciting benefits token holders can expect!
GENESIS 420 SERIES TOKENS - FOR ARTISTS
Revenue generated by the tokens are split 50% to the artist and 50% to the PSYDAO
Revenue generated by secondary sales will go to the PSYDAO.
When your token design is sold you (the artist of that token) will receive a free multiple edition (Polygon) PSYFAM-ARTIST-DAO token.
The artist tokens are gifted to artists as a reward for selling their 420 series PSYFAM tokens, these gifted tokens are not part of the 420 series, but have the same benefits as the 1/1 tokens which are purchased by collectors.
Artists can purchase the 420 series tokens!
The PSYFAM 1/1 NFTs by artist in the fam will be minted PSYFAM Foundation Account.
These artworks will be dropped in series of 12 different artists per time.
The collector will receive of these 1/1 NFTs will receive a free PSYFAM collector token on matic (polygon) – This token unlike the 420 series is a multiple editon, but has the same properties and benefits.
The revenue generated from the Foundation NFTs will be split 50% to the artist 45% to the PSYDAO and 5% to the PSYDAO Raffle (for anyone holding ANY of the tokens). The revenues generated by the secondary market will go to the PSYDAO.
Every time an artwork of the PSYDAO is sold on Foundation or other channels (KO, SR etc) 5% of the revenue will be gifted to a token holder via a raffle.
PSYDAO Profit distribution will be divided as follows:
25% will be donated to fund scientific research in psychedelics.
Each donation cycle a vote by PSYDAO members (token holders) will happen to determine which organization will benefit. Some charities we support include, MAPS and Berkeley Centre for the Science of Psychedelics, Token holders will be able to nominate their preferred research facilities.
25% will be donated to charity associations for helping people suffering of mental disorders and people in poverty all around the world.
25% will be used to sustain the PSYDAO costs (mint costs, discord boost, advertising, developers etc.)
15% will be invested in Metaverse infrastructures (Decentraland, Somnium, other platforms)
10% will be saved in a fund until it gets 1 Million dollars in value, that will be used to host a mega exhibition/PSYFAM event and pay the travel + hotel for all the members of the PSYDAO.
After the 420 1/1 tokens are sold the PSYDAO will get completely autonomous and the members can choose to mint other token collections in the name of the PSYDAO. At this point the PSYDAO will have already some activities set up. At this stage all initiatives must be taken by a group of not less than 10 PSYDAO members and voted by majority of the PSYDAO 50%+1 of the voting members.
All token members will be featured in our metaverse and part of the PSYFAM forever, even in case they sell the token losing the PSYDAO privileges.
Peace and Love.