Since SNAFU creation the value of an NFT is 1000 $SNAFU/# editions.
So an NFT with 10 editions is 100 $SNAFU, one with 20 editions is 200 $SNAFU, and so on. This also means that the maximum amount of $SNAFU an artist can earn by selling an NFT is 1000 $SNAFU (that is worth around 90$ at the time of writing).
In order to be more appealing to old and new artists, we need to be able to pay them more, which is not possible at the moment since we have this wall.
The base value is a very cool and interesting feature allowing users to always be able to discard their NFTs if they don’t want them or if there is nobody willing to buy them, but it’s a bit tricky if that’s also the primary way of selling them (even if it has good sides too: for example allowing people to buy the nft at the base value and see their NFTs appreciate instantly after since there is higher demand).
We as a team are working on creating an internal marketplace where we can initially sell NFTs at different rates, but since we are working on a lot of stuff right now (you’ll see, I’m sure you’ll like and appreciate it) we can’t deliver it fast enough for now.
So we would like to propose to increase the NFTs base value to 3000 $SNAFU / # editions.
What this would mean is that for now we will be able to offer artists a higher pay (that could work as a temporary solution) and make the NFTs more valuable (which makes sense since the NFTs always go sold out). At the same time, this would mean that all the users who bought their NFTs will see their value x3 overnight, which could lead to a momentary sale-off.
We also thought about other ways, like making the price dynamic based on how many NFTs are in the pool and stuff like that but two major problems pop up:
- Dynamic prices are easy to game
- We would need to deploy a new smart contract which could lead to creating a new token and enabling a swap from $SNAFU to $SNAFU2, creating another pool on exchanges, etc. And we would like to avoid this kind of change
- Do you agree on increasing the base value of NFTs to 3000 $SNAFU?
- It should be higher
- It should be lower
- I don’t care