The CloutBling NFTee White Paper.
V1.0 Updated July 9, 2021
This is the first ever attempt to sell collectible t-shirts on a "bonding curve". It's a highly dangerous and experimental study in "fomo" and scarcity. We like to refer to it as "Scarci-tee". This whitepaper is a work in progress and is never to be construed as "investment advice". If you purchase an "NFTee" from us we can only guarantee you'll be mildly protected from harmful UV sunlight, and you'll look super cool as hell.
We'll be adding more to this as we refine our "bonding curve" idea. In fact this isn't even a bonding curve in the "classic sense". We prefer to call it a "progressively increasing curve" with an emphasis on "increasing". If this were a classic "Bancor" style bonding curve we would need to become "Automated Market Makers" by providing enough liquidity for buyers to sell their NFTee (or NFT) back to us at anytime resulting in a progressively lower price and value for other "NFTee / NFT" holders. Essentially, that is how the BitClout bonding curve works. We're not about that because we're only about making money selling t-shirts and stuff. Our NFT concept is totally about experimenting and having fun with game theory (mixed with a bit of gimmickry). However, we're taking a big chance that early clouters want to flex their cloutness and will want to FOMO into an NFTee combined with an NFT. (More on the NFT thing later in Forward Looking Statements)
How our NFTee concept works: NFTee items are priced in progressively higher tiers based on units sold. Typically the price will move up to the next tier after 50 units have been sold but someday could be less. The supply of each NFTee release begins at 555 as printed on the NFTee.
Tier 1 - $22.22
Tier 2 - $24.69 (= $22.22 + 11.11%)
Tier 3 - $30.17 (= $24.69 + 22.22% - note that 11.11% gets added to the previous tier's percentage increase)
Tier 4 - $40.23 (= 30.17 + 33.33%)
Tier 5 - $58.11 (= 40.23 + 44.44%)
Tier 6 - $90.39 (= 58.11 + 55.55%)
...and so on and so on until Tier 11 is reached resulting in an embarrassingly high price of $2,135. Do we think anyone will buy a t-shirt for that much? Not really, but who know considering the amount of money being spent on NFT's without even getting a T-shirt. Our plan is for you to get both, again more to come on NFT's.
SUPPLY CAP : As is printed on the actually NFTee ("1 of 555 Max"), the maximum amount of NFTees for a given collection will start at 555 on the "mint date". The mint date is the date of the 1st completed and delivered order so that scammers don't place orders to start the "burn" clock. Everyday after Mint Day and for 150 days we'll burn 2.22 shirts to reduce the amount of NFTee's in circulation. How do we burn .22 of a shirt? That's proprietary at this point but we may open source the code at a later date. Suffice it to say we'll employ rounding and approximations to arrive at a final supply cap of 222 NFTees if more than 222 haven't been sold after 150 days. If more than 222 NFTees have been sold, the the final total supply will be fixed at that amount after 150 days. You don't expect us to track people down to burn their shirts, do you? Additionally, NFT's associated with each collection will be subject to the same burn rate. To steal and paraphrase from the early days of BitClout, it's all just monopoly money at this point. This is just a game utilizing game theory, so have fun playing.
So, to sum up:
555 Max Supply
$22.22 Mint Day Price (Tier 1 Price)
11.11% "Tier Progression Increase" for each subsequent Tier Level
2.22 units of the supply "burned" daily for 150 days following Mint Date.
333 potentially burned "NFTees"
222 potential final supply cap after 150 days.
We think any numerologist would love those numbers. Right? Plus, since our average price for a non (Non NFTee) T-shirt is $32.99, the 1st 150 NFTee's go for under retail. Additionally, we'll be offering discount codes for reclouts and diamonds on BitClout.
Forward Looking Statement about our NFT plans -We plan to provide 1 FREE and verifiably certified NFT for each shirt minted on a real blockchain beginning August 2021. This way you'll have a blockchain based certificate of ownership of your NFTee. We'll email each buyer their respective NFT (1 of MANY) as soon as the tech is built. We're currently working with Shopify and a reputable developer on this and it's gonna be super cool and easy. So at that point, ownership of your NFTee will be verifiable on a blockchain. We make NO claims or guarantees that your NFT or NFTee will increase in value, have any collectible value, or will even make you look better. We may even release some NFTee collections displaying the beautiful art created by other talented artists and perhaps influencers and whales. Each artist, influencer, or whale who may agree to partner with CloutBling on a limited release NFT will be granted the ability to buy 1 and only 1 NFTee from the Tier 1 supply. We guarantee that if ANY artist, whale, or influencer agrees to partner with us, they will be prohibited from buying their own NFTee until after the 1st Tier 2 NFT is ordered. As part of the deal, they will be This same prohibition is
Do your own research and NEVER spend more on T-shirts nor digital representations of T-shirts nor kitties (aka NFT's) than you can afford to lose. This is all for entertainment purposes and for flexing your "early adopter cloutness" to your friends and strangers you pass on the street or try to seduce at cocktail parties. In the spirit of Bitclout, we hope you have as much fun with this as we do.
This is a very fluid and imprecise experiment (and whitepaper) and we reserve the right to change it at any time. However, we guarantee to stand behind the terms and conditions of any and all NFTee collection releases disclosed at the time of minting the 1st NFTee of that given release. Additionally, please understand that our use of a "bonding curve" may not align with the views mathematicians, physicists, or other people insistent on "following the science". This is way more artistic than that. At least we're trying.