Unleash The Plague (Part 2)
“Man who says it cannot be done should not interrupt the frog doing it.”
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If this is the first of our articles you have seen, you should start from the beginning.
Link below.
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First There Was A Genesis
On April 8th, we minted our Genesis Collection of 1,300 frogs
https://opensea.io/collection/the-plague
Now Comes The Army
On April 22nd, 2022 we mint our 10,000 Army Frogs.
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Our Mission
Read more about our mission and some of the projects we are already working on in the link below.
https://the-plague.medium.com/time-to-unleash-the-plague-part-1-969db319e018
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Wen Token?
Many projects create a token, just to say they have a token. They ask you to stake for a coin that can be redeemed for things you don’t want.
- ”Exchange your token for merch” — but you don’t want to wear it
- “Exchange your token for another NFT” — and it has no value
- “Exchange token to breed” — but then what happens?
In fact, this was a debate we had internally. Do we even need a token?
The answer is yes.
Our utility token will be key to our ecosystem and getting it launched will be a top priority.
Some things to know:
- Token symbol — To be announced shortly
- We intend for the supply to be capped. Supply amount TBD
Why do we use the word “intend”. Because it is not 100% yet, but
that is our preference. However we will do what the tokenomics
experts tell us to do - 1 Frog = 1 Frog → Every Frog earns the same passive amount of tokens. Some projects increase allocation based on rarity of the NFT. Not The Plague
- Active token accumulation opportunities yield more tokens than passive opportunities.
- Certain actions will burn some of the tokens used during that action
- Oh. And there is something else. But we won’t list it here… You will have to wait and see
So wen token?
Soooooooonn!
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Reward The Good Guys — AKA the Frogs
So you want to be a scammer? Good luck 👇
One of the core principles of The Plague is to “Fight Corruption.” One way we will do that is to help clean up the NFT Community.
Here is how:
- Mass report obvious scammers (i.e. fake support accounts, imitation accounts, etc.)
- Raid accounts that do fake giveaways to gain followers
- 3-step process to identify potential rug pulls
Gather Info → Present Info to Frogs → Frogs Vote on info
What is this 👀
These activities and others will create opportunities to accumulate more tokens.
Brand Builders = Token Accumulatoooors
The Plague of Frogs “brand” will be built through multiple streams. However, in the short term, the most important stream is the brand building that will be done by our holders.
How can the frogs help build our brand?
- Represent the Frogs on social media through proper branding (i.e. PFP) and by living up to The Frog Code of Conduct (to be published soon)
- Engaging other communities
- Supporting the official Plague social media accounts by interacting with posts
All of the actions above and other potential future branding actions (to be announced), can lead to more token accumulation.
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Once a Frog, Always A Frog?
Why do people from the outside (normies) believe that NFT’s are a Ponzi scheme?
The NFT space has a problem.
“The Problem” explained:
NFT Project “WAGMI” sells 10,000 NFT’s for $500 USD each.
They now have $5,000,000 in revenue.
Now what? They have thousands of people that they sold on their vision. “WAGMI” they said!
But their vision costs money.
$5,000,000 is a lot right? Depends.
The 17 year old that started The WAGMI project wants to say he is a millionaire. So now he has $4,000,000 left for the project.
But his buddies… he promised they would be rich too! That is two more members of the “team” that need about $500k each.
Now they have $3,000,000
Wait. You mean they owe taxes on that money they paid themselves? 37%!!
Now the founder is not a millionaire anymore.
It is going to cost how much to build that game?
They need more revenue!
But in order to gain revenue, they need these current holders to sell.
But if they sell then a new set of customers will replace them. And those new customers want a return on their investment. In fact, they expect a 200% ROI by next week or this project is “ded”
Then a new set of customers arrive.
And then a new set….
Eventually the sole focus of the project becomes figuring out how to pump their speculative price to keep the churn going to generate revenue.
See the problem? When you are building a community, but your revenue is solely dependent on cycling through your community, you don’t really have a community.
Our Solution
We will use our initial revenues to create a revenue generating system that does not rely the secondary market. We want to be here 10 years from now.
Also, while we plan on building a game, this project is not about a game.
How many games do you know still being played 10 years later?
There are some, but not many.
And most of these projects won’t even build that promised game.
What about the ones that do build a game? Will the game be good? Will people play it? Will they play it 2 years later?
With our Frog Tank process, we will continually add revenue streams while furthering our mission to decentralize opportunity and further the Web3 cause.
What if someone needs to sell their frog, but still wants to be a part of The Plague?
We have a plan for this. The tech part is not finalized, and we don’t want to say something incorrectly.
So, let us frame it this way…
What if there was a mechanism where we could identify you as a Frog, and that mechanism was separated from your NFT? So if you sold your NFT, you would still be a Frog. Not a DAO member, but a member of the The Plague with a diminished utility.
Or what if the speculative secondary market price of the Frogs became a barrier to entry for many? Could we use this same mechanism above to let other people join the Frogs (but not the DAO) with a much lower cost?
We think we have the answer. We had hoped to have been able to give details on it here, but we are not ready.
But it will happen!
“AyE! tHe pLAguE iS LEctUriNG aBOuT sEcONdARy SaLeS aND tHey aRE CHarGiNG a 10% rOYaLTy!!!”
True. But for how long? 👀👀👀
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Wen DAO?
What is more Web3 than decentralizing governance?
Our goal is to transition to a true DAO by the first quarter of 2023
Why so long?
- It brings a LOT of questions around tax and regulatory requirements amongst multiple countries. We need to get the answers to those questions.
- Additionally, we want to structure the DAO with representative voting. For example, maybe 1 Frog is voted on by 100 other frogs to represent them and to vote on their behalf.
Once we get all of our questions answered, we can structure this properly and formalize the DAO.
More information to come.
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We Have Come A Long Way Since Frogger
If you say the words “frog” and “game”, people will likely think of the game “Frogger.”
That’s tough.
That frog got run over by turtles…
Web3 is the frog’s chance for a redo.
Yes, we will be in Ghost Town Showdown.
Yes, we will be in MegaWeapon.
Both will be great games. And the frogs will likely dominate in both.
And yes, our plan is to build our own game.
But what about all the games out there that won’t have our frogs in them?
Do you have to go buy one of their NFTs to play?
Maybe not 👀
More details to come
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Charitable Frogs
Many projects do charitable things. But few (if any) focus on individuals. The Plague will use $150,000 from its Army Mint to help human beings around the world in need.
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The Plague is Unleashed
Next week the real work starts. If you are here to help us accomplish our mission, then don’t let the background noise that usually occurs around NFT projects distract you.
This is a long term project that will provide you with a great community, plenty of opportunity, and of course utility.
And ultimately, if we accomplish our goals, we hope to improve the lives of our holders OUTSIDE of the Metaverse…..where it matters.
