CRIPCO, the NFT Multiverse DAO. Discover the world’s first industry-led DAO NFT platform and a hub for IP 3.0.
CRIPCO presents the philosophy we call IP 3.0 as well as its two main products: an NFT marketplace and an NFT utility platform.
What is the Multiverse?
At its most fundamental level, the ‘multiverse’ is simply an NFT marketplace platform governed by a decentralized autonomous organization (DAO), with collections of individual NFTs known as the ‘pocket-universes’. To ensure a curated experience for customers, pocket-universe applications must be approved by the DAO before joining the multiverse. This process is handled by the curation smart contract, the details of which can be found under the governance section of this Whitepaper.
The multiverse and the DAO will use two distinct tokens to operate. The DAO token (IPD) is used for governance and offers other platform-related utility features such as reduced commission fees, access to exclusive events, early-access to NFT launches and other exclusive bonuses, and the utility token (IP3) is used to handle transactions.
CRIPCO, the first DAO NFT platform:
Whether for art, collectibles, gaming cosmetics or much more besides, it’s clear that NFTs represent the future of digital ownership. However, existing NFT marketplaces are plagued by a number of issues.
Open marketplaces represent the wild-west of the NFT world, rife with copycat NFTs, low-quality products and wild speculation, not to mention the legal issues surrounding copyright infringements. Curated marketplaces have improved the user experience, but their opaque decision-making offers little public accountability. CRIPCO aims to change all that.
As the world’s first industry-led DAO NFT platform, it brings together industry stakeholders, brands, artists, influencers, platforms (and others) in the governance of CRIPCO. That way, customers can be assured of the quality, exclusivity, value and utility of their NFTs.
By implementing a Solana-native DAO to handle the curation process and manage platform development, CRIPCO can guarantee transparency in its decision-making, provide public accountability, and ensure the alignment of user and platform interests and outcomes.
Why use a DAO?
At its core, the Multiverse DAO called CRIPCO is designed to guarantee transparency and accountability in all platform decision-making, whether that be platform curation, smart contract upgrades, or treasury fund usage.
All DAO proposals are public, therefore DAO members are incentivized to act in alignment with the interests of platform users, with ensuing reputational damages for dishonest or low-quality governance/voting.
DAO’s also offer a unique opportunity to coordinate skills, talent and information across the globe, enabling a dynamic organization which spans international borders. By integrating a wide pool of stakeholders and aligning their incentives, DAO’s can enable cooperation between parties and draw from a huge pool of expertise.
By integrating a diverse array of stakeholders into CRIPCO including creators, brands, influencers, programmers, platforms and more, the multiverse will become the world-leading NFT platform in the global metaverse.
As discussed previously, CRIPCO will have two distinct tokens.
A utility token to handle transactions between users within the marketplace, and a governance token used exclusively within the DAO.
The utility token is called IP3, and the governance token is called IPD. At genesis, only IP3 will be available. A user can lock up 10,000 IP3 to form an IPD. IP3 is designed for public use, whereas IPD is designed to ensure effective multiverse governance. IP3 IP3 is the utility token of the CRIPCO platform.
Its primary function is as the medium of exchange between transacting parties. All sales and transactions fees within the Multiverse will be settled in IP3. Beyond this, holding IP3 will grant users certain privileges, benefits etc. when using the platform. Here is a description of the proposed IP3 token utility cases and values:
- Transaction Currency
- Pocket Universe Application Fee
- Staking Fee
- Voting Incentive
- and much more
The IPD is the second token in this ecosystem, it is used for all governance decisions affecting the multiverse.
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