Announcing the Avastars Replicant Token ($ART)
$ART will be required to create Avastar Replicants. $ART is claimable by Avastar Prime holders.
TL;DR - Our flagship project, Avastars, has dropped an ERC-20 utility token that will be used to create Avastar Replicants. Creating a Replicant will be the only way to make a custom-designed Avastar.
$ART Contract on Etherscan:
As we approached and then launched Avastars in February, we never settled on our pricing for Replicants. At the time I was toying around with the idea of charging 0.1 ETH to create one. This is slightly more than a Common Prime (0.07 ETH) but not as much as the next tier, Uncommon Prime (0.14 ETH). My thinking was that a user has already purchased the Primes and will be spending the Traits from those Primes to create a Replicant, plus gas, so we should keep the fee reasonable. But I wasn’t sure exactly how to price the creation of Replicants and deferred any decisions for the future.
Over these last few months, I have become familiar with the concept of “Exit to the community” and have challenged myself to come up with a way to make this work for Avastar Replicants. With the introduction of $ART (Avastars Replicant Token), Avastars does not stand to gain a direct economic benefit from the creation of Avastar Replicants. The only way to get $ART token from us is to claim it, on a 1:1 basis, with your current or future Avastar collection.
I’m fairly certain the only reason we can get away with doing this is that we don’t have any investors to tell us we’re fucking nuts. But we’re exploring new ways of doing things as we build the avatars for the metaverse. The value of Avastars is in the brand that is building trust with our amazing community. We will succeed together.
A normal company would not give away a future revenue stream to its earliest supporters. We. Are. Not. Normal.
So here’s what we’ve come up with:
At the end of each Avastar Series, we will take a snapshot of Avastar Prime holders and make 1 $ART token available for each Avastar Prime from the previous Series. We have already snapshotted Series 1 & 2 at Avastar #10,199 (the end of Series 2).
Accordingly, there will be 1 $ART token for every Gen1 Avastar Prime. This coincides with the maximum amount of Gen1 Replicants that can ever be created (25,200).
The $ART token is deflationary — when an Avastar Replicant is minted, the token will be burned. To create a Replicant, you’ll need a few things:
Between 2 to 5 Avastar Primes with at least 12 unused Traits among them in the appropriate gene categories.
1 $ART token.
Some ETH to pay gas for the creation of the Replicant and the burning of the Prime Traits.
Our own account has to mint the Replicant, so that means you’ll need to give us these 3 things, and then we’ll give you a Replicant and burn the 12 used Traits and the 1 $ART token.
How to Claim the $ART Token:
You can check to see if you have any $ART tokens to claim by following these easy steps:
Connect your wallet by clicking the 'Connect to Web3' button
Scroll down to '3. claimART' and click on the Write button
Note: If you'd first like to check the amount available to your address, you can check by going to the 'Read Contract' tab and entering your address under “5. getAmountClaimable” and clicking the “Query” button.
Purchasing and holding onto Series 3 Avastars will make you eligible for the next snapshot at the end of Series 3. Same to follow for Series 4 & 5.
Disclosure: I personally own 887 Avastars from Series 1 & 2, and the Avastars official account owns 558. I have locked 800 $ART tokens, and the company has locked 500 $ART tokens from Series 1 & 2 until December 31, 2022 inside of the contract. The majority of any future $ART tokens gained by myself or the company will also be locked until that date. I will keep a small portion unlocked for use, promotions, and gifting, as will the company account.