It’s been almost 5 months since the genesis of CryptoCubes, and everyday our community has been expanding with beautiful people.
I would like to share the latest news on CryptoCube developments with our community.
Secondary sales have increased to an astounding 370 ETH in volume, and we have had CryptoCubes #0, #32, #46, #158, #219 featured in the ETHDenver Crypto Art Exhibit, with even an AR-projection over the Eiffel Tower.
We have also garnered the interest of many, not limited to those just in the NFT art/collectible space, but also in the DeFi space, with purchases coming from the famous 0x_b1. And with this, our next step is to allow CryptoCubes to become more accessible to everyone who wants to take part.
NFTX-CryptoCubes
- Our next step towards proliferation will be to integrate with NFTX.
NFTX is a project that allows NFT collectible projects to create index funds of similar rarity types, which can then be used to trade as a token, provide liquidity, allow more efficient price discovery, among other benefits with constant innovation from Gaus, 0xChopChop, and their active DAO. You can read more about how NFTX works here: (NFTX website/docs)
With this integration, we hope to make CryptoCubes a project that people in the DeFi space, NFT space, and the general crypto space can easily partake in as it will be as simple as buying an ERC-20 token and will not be limited to any investment size.
We will begin with a base index fund, CUBES, where any CryptoCube can be added and is meant to serve as a proxy for the floor price of a CryptoCube. Then, we will gradually work our way up to funds with even higher rarity tiers in the future.
- We believe our project is unique and we have an inherent use case of being able to use CryptoCubes in the metaverse, which will be very apparent in our coming CryptoCubes Gallery opening in Decentraland.
Rarity
Our index funds on NFTX are solely based on the rarity traits that have been public since inception. The 3 traits are: Volume, Shape, Color.
Below is a graphic of how the rarities are distributed as well as a link to the aggregate sheet with the specific rarities of each CryptoCube. We will also have the rarity information readily available on our CryptoCubes website in the future.
You can view the rarity sheet here Rarity Chart
We believe the beauty and artistic aspects of CryptoCubes are also essential to the value of the CryptoCubes. However, the value of beauty and artistic aspects will differ based on individual perception, and for creating funds on NFTX, we need a firm, objective basis of determining which cube belongs where, hence the rarities.
Regardless of which CryptoCube you hold, the aim of our NFTX integration is to benefit you, the holder.
While we do encourage, holders of any CryptoCube are not required to partake in supplying their cube to any NFTX fund if they believe their CryptoCube is worth more than its affiliated rarity fund’s average price. For example, if there is a CryptoCube fund targeting the lowest 25% of rarities, a holder of a cube fitting that rarity class can decide to keep their cube as they believe its value is higher due to aspects such as color, beauty, or otherwise. This holder still benefits from that fund’s average CUBES token price rising and can later use that fact as a basis for valuing their CryptoCube.
In NFTX, you will randomly receive one of the CryptoCubes from the pool when you want to withdraw a CryptoCube. Therefore, we recommend that you carefully choose the cubes you will add to the pool.
CryptoCube numbers and token ids will differ until we migrate to on-chain, so when adding your cubes, you should check your CryptoCube’s token id on OpenSea.
What’s next?
We have so many exciting ideas in the works that we can’t wait to share with the community.
- CryptoCubes files for Decentraland (.gbl) 20th February
- On-chain migration (nft42)
- New Website (nft42)
- CC Gallery Opening (Decentraland)
- Exhibition(Paris- French Paper Art Gallery)-Physical Prints
- Fan-Art Drop
Following weeks will be exciting for us!
Related Resources for NFTX-CUBES
*NOTE: ANY OTHER TOKEN ADDRESS OR LIQUIDITY POOL FOR CUBES IS NOT ENDORSED BY THE CRYPTOCUBES PROJECT AND IS LIKELY A SCAM.
CUBES token address: https://etherscan.io/token/0x1aa1778eb261ee3aa111efbfd544b4050c1df428
CUBES-ETH Uniswap page: https://info.uniswap.org/pair/0x584d368ab300f5f6a0666aef2b1d2d8e3cc7c0f2
CUBES-ETH Add Liquidity page: https://app.uniswap.org/#/add/0x1aa1778eb261ee3aa111efbfd544b4050c1df428/ETH
NFTX CUBES fund page: https://nftx.org/#/fund/21
Guide on supplying your CryptoCube to the CUBES fund: https://tinyurl.com/9tiyb5sv
NFTX tutorial on how to mint a fund token: https://docs.nftx.org/tutorials/minting-fund-tokens
NFTX tutorial on how to redeem using a fund token: https://docs.nftx.org/tutorials/redeeming-nfts
Thank you for reading!
Big thanks to Matt (y_kymin) for his great and meaningful effort in the article and in the implementation of NFTX ❤
Feel free to give suggestions from twitter @hanrgb @cubescrypto and from our discord channel : https://discord.gg/a5X3H8Ffe7
