@FaceLikeTheSun I’ve been watching you for years. Luckily, we both know Jesus Christ is the one true messiah.
We’re lucky.
“For false Christs and false prophets will arise and perform great signs and wonders, so as to lead astray, if possible, even the elect.”
Matthew 24:24
To my friends, the art community, fellow artists, and everyone who loves art,
Could you support me by reposting this tweet? Your repost might be what helps me reach 100 minted
I truly believe that once we cross that milestone, we will start moving forward much faster.
Every repost makes a difference. Thank you for standing with me.
a design challenge with ApeBall was figuring out how to have high-value nfts into a pool while keeping the cost of each draw accessible
FWA community pools use inverse value weighting to determine the odds of each item being drawn and draw price is based on the weighted value of the pool items
this creates an interesting design problem
one way to lower the draw price is to fill the pool with lots of nearly worthless nfts alongside a few expensive ones
the cheap items dominate the odds, bringing down the cost of a draw, but you end up with an experience where most people receive almost nothing unless they hit the big prize
i wanted to see how close we could get to the opposite: an affordable draw with high-value items, where all draws return real value and the expected return to players is as high as the economics can sustainably support
enter: shapes
shapes is an onchain artwork collection where each nft is backed by an exact amount of eth, where can be minted in different eth denominations, and each nft can be redeemed for its backing eth at any time
so instead of filling the pool with worthless nfts to offset the expensive ones, the apeball system can fill it with a variety of items that have real value
and the bonus of using shapes to solve this is that players don't need to worry about selling their nft on the secondary, they can just redeem for eth directly whenever they want
the current apeball pool has 48 items:
- 47 shapes backed by 0.01 to 0.5 eth each
- 1 bored ape
draws cost around 0.02 eth, and every draw gives you an nft
the smaller shapes have the highest odds, but even the cheapest one can be redeemed for 0.01 eth, with the highest at 0.5 eth
larger shapes can return several times the cost of a draw, and there's always the possibility of pulling the ape
the other interesting design problem was making the pool autonomous
with a typical FWA standard community pool, when an nft is drawn, the owner has to supply and list another one to replenish the inventory
but shapes can be minted programmatically, on demand, with whatever eth backing we specify
this means apeball can use proceeds from draws to mint and list replacement shapes automatically, at the same denominations as the ones that were won
the common prize inventory effectively maintains itself, preserving the shape tiers and their relative weights without requiring someone to continually source and list new nfts
the apes listings work differently
$apeball trading fees fund the acquisition of more apes, which enter the pool as additional prizes. their assigned listing values gradually decrease, increasing their odds of being drawn
profits from the game help fund further ape acquisitions and buybacks and burns of $apeball
so we end up with a system where the smaller prizes can continuously replenish themselves, the larger pool items are acquired through trading activity, and participation generates revenue that feeds back into the system
these are my favorite types of problems to design for, where a few existing onchain primitives can be combined to make something that operates independently and according to its own rules
the game is open at https://t.co/kB2QTLzWsC
new collection is called @0xObservers
it will explore many aspects of the UFO/UAP phenomenon, including many of the proposed types of beings and craft they pilot
minting next week. retweet and comment your ETH wallet to be considered for WL 🛸👽