The weirdest rule in @themutualfun isnât the chair.
Itâs that you donât pick your room.
You burn the pass, you pay the 0.01, and a couple blocks later a hash that didnât exist when you signed drops you into Argon, Bogle, Smaug, Midas, or Vladd. Permanent. Same rulebook at the start, five different personalities after that, and none of it was your call. Most NFT projects let you shop the trait. This one assigns you a table and tells you to argue with the people already sitting there.
The second rule is meaner, and I like it more.
Sell the seat and the briefcase goes with it. Unclaimed dividends travel. What doesnât travel is enrollment. The buyer gets the chair and whateverâs already in the bag. They do not get your vote, and they do not get the next payout until they pay the $TMF load again. Half of that fee burns. Half goes into the fund you just left.
So youâre not really selling a yield position. Youâre selling a used chair with some cash still in the pocket, and the new person has to buy their own membership. Thatâs closer to a club with a cover charge than a token that farms forever.
Merging makes the same point from the other side. Two enrolled seats in the same fund, same class, become one. The extra chair is gone for good. The survivor gets more weight than the two had added together. Supply only shrinks. Nobody is minting a fresher, cheaper vote later.
I keep coming back to those three together. Random room. Membership that dies on sale. Chairs that can disappear but never multiply. Itâs a fiddly design, and the prospectus still has blank pages where the fun parts should be. But itâs the first time in a while a âfund NFTâ has felt like it was written by someone who got tired of watching people flip the membership and keep the rights.
Mintâs the 22nd. Iâm mostly curious which room the hash sticks me in.
Ps:the image was created using @Kingpickle pfp while the is of the idea of @themutualfun
The weirdest rule in @themutualfun isnât the chair.
Itâs that you donât pick your room.
You burn the pass, you pay the 0.01, and a couple blocks later a hash that didnât exist when you signed drops you into Argon, Bogle, Smaug, Midas, or Vladd. Permanent. Same rulebook at the start, five different personalities after that, and none of it was your call. Most NFT projects let you shop the trait. This one assigns you a table and tells you to argue with the people already sitting there.
The second rule is meaner, and I like it more.
Sell the seat and the briefcase goes with it. Unclaimed dividends travel. What doesnât travel is enrollment. The buyer gets the chair and whateverâs already in the bag. They do not get your vote, and they do not get the next payout until they pay the $TMF load again. Half of that fee burns. Half goes into the fund you just left.
So youâre not really selling a yield position. Youâre selling a used chair with some cash still in the pocket, and the new person has to buy their own membership. Thatâs closer to a club with a cover charge than a token that farms forever.
Merging makes the same point from the other side. Two enrolled seats in the same fund, same class, become one. The extra chair is gone for good. The survivor gets more weight than the two had added together. Supply only shrinks. Nobody is minting a fresher, cheaper vote later.
I keep coming back to those three together. Random room. Membership that dies on sale. Chairs that can disappear but never multiply. Itâs a fiddly design, and the prospectus still has blank pages where the fun parts should be. But itâs the first time in a while a âfund NFTâ has felt like it was written by someone who got tired of watching people flip the membership and keep the rights.
Mintâs the 22nd. Iâm mostly curious which room the hash sticks me in.
Ps:the image was created using @Kingpickle pfp while the is of the idea of @themutualfun
When markets move FAST without rhyme or reason... A little research goes a long way.
Wild opportunities present themselves.
Last week: Base Set Blastoise in The Binders
This week: Crown Zenith Mew in The Alley
Congrats đ
What an absolutely incredible weekend and night. Literally nothing but nonstop, smiles and genuine fun from all my favorite people in the world. And an awesome venue (shoutout @beeple).
Thank you @BoredApeYC for reminding us every year what really matters.
The relationships.
The freshest cakes in Otherside are coming to ApeFest.
Our friends at @opensea want you to score a free blind box.
If youâre heading to ApeFest Charleston, enter this free mint for a chance to win: https://t.co/UZjlkuOb1W
More info & rules to enter below đ
I actually launched an interesting set of contracts on multiple EVM chains a few weeks back.
But 1 day before I could post, the massive LB payment processor exploit was uncovered.
Felt like not so great time to launch new core infra. But I think itâs cool & useful.
So, soon.