Simple Summary
Introducing Better WL, a system designed to reward Diamond Hands users with presale access, early access, and whitelist spots for prestigious NFT drops, enhancing the quality and reliability of participant engagement in Mint.chain drops.
Better WL addresses the growing frustration within the NFT community regarding the superficial and opportunistic behaviors rampant in current whitelist practices. This includes the widespread dissatisfaction over unmotivated retweets just to grab a whitelist spot, the use of AI-generated fan art for presale advantages, and other fast-track speculative tactics.
Abstract
Better WL proposes a revolutionary approach to NFT drops by establishing a merit-based system that prioritizes users with a proven track record of long-term holdings and positive trading practices. This system aims to shift the focus from quantity to quality, ensuring participants in NFT drops contribute positively to the project’s longevity and success.
Motivation
The motivation behind Better WL is to address the frequent issue of NFT projects facing rapid decline post-drop due to holders influenced by panic selling or quick-speculation tactics. By implementing a ranking system based on user behavior, Better WL aims to cultivate a more stable and committed user base for NFT drops.
Rationale
Better WL introduces a set of criteria to evaluate users for whitelist eligibility:
- Wallet Age: To discourage speculative short-term wallet creations. Older wallets receive higher rankings.
- NFT Holding Duration: Analysis of users’ NFT holding history. Longer holding periods result in higher rankings.
- Profitable Sales: Evaluation of user sales over purchase price, encouraging positive value generation.
These criteria aim to foster a community of users who are genuinely interested in the growth and success of NFT projects.
Specification
- Data Analysis: Utilize blockchain data to analyze user behavior according to the set criteria.
- Ranking Algorithm: Develop an algorithm to assign scores and rank users.
- Integration: Ensure seamless integration with Mint.chain’s existing infrastructure.
MintID Holder: Naturally, access will be restricted to holders of specific NFTs minted by Mint.Chain, as proof of not being mere speculators but believers in Better WL and Mint.Chain itself.
Open-source Commitment
“I commit to open-sourcing the NIP and grant permission for developers within the Mint blockchain ecosystem to build protocols and applications based on Better WL.”
Additional Observations
Users can designate a primary wallet for evaluation and link additional wallets to their profile. This flexibility enhances user experience while maintaining the integrity of the evaluation system. Implementing Better WL not only improves the quality of users on Mint.Chain but also positions it as a leading, reliable, and innovative platform in the NFT space.
This NIP aligns with the vision of Mint.Chain to advance the NFT ecosystem by prioritizing quality, commitment, and long-term value creation. Better WL is poised to redefine the standards of NFT drops, benefiting both creators and collectors in the Web3 space.
Furthermore, this system will undoubtedly increase the value of the newly minted MintID.
About Me
I’m Leodromo, a professional Italian illustrator, passionate about Digital Art and NFTs. Too often, I’ve seen good projects fail due to senseless communities. That’s why I proposed Better WL. You can find me on X by searching @Leodromo.