The vision for this project stems from many late night smoking sessions.. We wanted to create a project that turned one of natures greatest plants into digital art and digital assets!?
We wanted to create a project with some form of simple utility that would provide holders with passive income.
We wanted to create a project that could donate to NORML and help fund the fight to legalize marijuana.
AND
We wanted to create a project where the community is in control! Finally, yesterday on 2/22/22, it hit us like a 1 gram dab! LFG!! We bring to you 420 Budz!
420 Budz - Phase 1
Our first drop will build the foundation to the project. Appropriately named "The Founders Collection" will consist of only 420 nfts. Holders of the Founders Collection will vote and decide on the structure of the utilities.
The basic principle of the utilities is very simple but the variables in the details can go many ways!
The utilities of this first collection are simply payout of the royalties pool and mining op. We have set 10% royalties on secondary sales. 60% of the decided royalties will go to the royalties payout pool. 30% will go to the owner and 10% will go into a community wallet. From here on pretty much everything is up to The Founders! Just a few immediate thoughts..
- listing requirements
- min. floor requirements
- frequency of payouts (think gas x 420)
- inactive users qualify/disqualified
I'm sure you can see, there's a lot of decisions to make and we CAN'T WAIT to see what you all build!
Light one up, chill and think on this for a minute.. The Founders literally control the money in this project.. The structure, The floor, the royalties, the community..
Don't even get us started on Phase 2
20% - We mint (5) 420 Budz and airdrop them to random Budz holders.
40% - We airdrop .420 ETH to one random Budz holder.
50% - We create a donation wallet for NORML and fill it with 1 ETH.
60% - We mint (5) 420 Budz and airdrop them to random Budz holders.
80% - We airdrop .420 ETH to one random Budz holder.
100% - We add an additional 1 ETH to the NORML donation wallet and purchase our first ETH mining rig!
