The NFT market has shown flaming potential in recent times with individual pieces hiking immensely in price. This market, however, has taken a turn towards utility. Utility drives value and the new projects entering the space are giving value to the community members through creative ways. Apart from this, another issue with this unregulated market is the concept of rug pulls where the development team of a project shows a promising roadmap to the community members and runs off with their money. Space Knight Club caters all discussed above to make an overall well-rounded NFT project.
Community Vault and Governance:
Space Knight Club, as the name suggests, is a club exclusive to the holders of SKC NFTs. The main focus of the project is the community members due to which they have implemented a DAO (decentralized autonomous organization) that helps users control the royalty funds of the project. This royalty fund is called the community vault. Each transaction related to the project on Opensea gets charged 5% as royalty for the team which will be given back to the community by accumulating it in a vault address. This money would only be accessible to the community and they would decide on what to do with it.
The club is divided into two sets of members depending on their roles:
Spacewalkers – Anyone holding the NFT is eligible to become a Spacewalker. Spacewalkers can submit proposals regarding how to spend the money in the community vault. They can also upvote on proposals that they agree with. If a proposal gets more than 30 Spacewalker votes, it goes to the next stage.
Knights – They are distinguished members of the club. The Knights decide the fate of any proposal sent by Spacewalkers. Upon discussion, if more than 50% of the Knights agree on a proposal, it is executed directly thanks to the Gnosis multisig safe.
How to Become A SKC Knight
To become a Knight, you have to hold the Spacewalker NFT longer than the holding period, between 30-300 days. Once you hold the NFT longer, you become eligible to become a Knight. Then, you will have to stand trial in front of the Knights or be examined by the already existing Knight members. Once you get accepted into the Knight membership, there are two things that will happen:
- You become the owner of the Gnosis multisig safe that controls 100% of the royalty funds.
- You will receive a Proof-of-Knight (PoK) NFT that cannot be sold, transferred, traded, or bought. Having PoK grants you access to the exclusive benefits of the club.
The funds are to be fully controlled by the community. This gives a certain amount of security to the project as it eliminates the threat of rug pulls and other manipulations related to the development team.
The style of the artwork is fun and in line with all the trendy NFTs. A spacewalker NFT is an animal dressed as a “Spacewalker” or an astronaut. There are over 200 unique attributes that can be assigned to these animals to make a total of 1969 (in reference to the date Armstrong first set foot on the moon) unique NFTs. The art style is modern-cartoonish yet it has a lot of details and colors.
As stated above, utility drives value and the community aspect of SKC gives just that to the members. Since the project aims to deliver immense value to the community members one way or another, the project shows a lot of potential as an investment as well as a collectible. The team also contains specialist marketing people, great artists, as well as developers with lots of experience under their belt which gives a certain edge to the project. For now, the NFTs are available to mint at 0.08 ETH on the official website.