TheBillBored is an NFT spotlight competition & meta-collection.
Creators compete to be featured on Asset 1,000,000,000.
Art on TheBillBored will be featured as an ad on Algorand related properties.
Users vote for their favorite creators through the Vottery system.
TheBillBored seasons last 4 weeks, after which new art is chosen.
Creators are invited to submit special edition artwork to the competition.
The artwork must be new - not part of an existing minted collection.
All creations are subject to a user vote, as outlined in the next section.
The Vottery system determines the season's art, as well as the art's owner.
Users vote for their favorite art with $ALGO. The art with the most votes wins.
Users who vote for the winning art get a chance to win it:
More ALGO spent voting for the art = more chances at winning the art.
The lottery will be executed transparently and fairly with on-chain VRF.
Users who win the season's Vottery get the 1B NFT for the duration of the season.
After the season is over, the 1B is clawed back and users get the art permanently on one of the 1B+01..1B+32 NFTs.
The 1B NFT can not be placed in custody of a smart contract escrow account.
As such, it can be transferred between users but not put up for sale or auction.
80% of Vottery profits go towards the winning creators.
Revenue raised through each season's Vottery will first cover ad costs ($300/mo.)
After that, profits will be distributed between the winning creator and our treasury at a 80/20 split.
If the treasury overflows, a rewards distribution to NINE NINE token holders will be automatically initiated.
TheBillBored will operate a rewards programme using Nine Nine tokens.
Users who participate in the Vottery will receive Nine Nine tokens proportionate to their $ALGO spend.
The treasury ceiling will be capped at a 3 month cost runway, currently projected to be around $900.
When the treasury balance exceeds the ceiling by a certain percentage value (ex: 11% / $1,000) a rewards distribution will be automatically initiated. Nine nines holders will be airdropped their portion of the treasury overflow.
Significant changes to TheBillBored mechanics may also be put to governance vote using Nine Nines.
TheBillBored 1B: Asset ID 1,000,000,000 (one billion). Clawback enabled; temporary ownership. Can't be listed for sale, auction or swap.
Nine Nines Tokens: Asset ID 999,999,999 is a rewards & governance token for the project.