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@dice-xyz
ERC404: what is it, and why are we using it for Creature Cubes? TL;DR: When you mint, you'll receive both artwork (1 Creature Cube NFT) and tokens (1000 $CUBE). These items move onchain in tandem. This standard also unlocks some interesting dynamics for collectors. 🧵👇🏼 (1/8)
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@dice-xyz
This is best explained through an example. If you mint 1 Creature Cube, you'll see both the NFT and 1000 $CUBE in your wallet. Transfer the NFT, and 1000 $CUBE will go with it. Send 1000 $CUBE, and the NFT will go with it. (2/8)
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@dice-xyz
But what happens when you transfer out 500 $CUBE? Or any amount less than 1000? Doing this will BURN your Creature Cube NFT. However - it will be instantly re-minted once you restore your balance back to 1000 $CUBE. (3/8)
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@dice-xyz
Let's say you send away 100 $CUBE, bringing your balance to 900. This action burns your Creature Cube. If you re-acquire 100 $CUBE, a new Creature Cube NFT will be randomly re-minted to your wallet. (4/8)
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@dice-xyz
Here’s where it gets interesting: if you have 10 Creature Cube NFTs, you’ll have 10000 $CUBE. If you transfer out 100 $CUBE (reducing your balance to 9900 $CUBE), one of your 10 Creature Cubes will be randomly burned. So, be careful with your favorites. (5/8)
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@dice-xyz
If you purchase the $CUBE token as an ERC20, you’ll find your wallet full of randomly minted Creature Cube NFTs. For instance, if you buy 5500 $CUBE tokens, five random Creature Cube NFTs will also appear in your wallet. (6/8)
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@dice-xyz
When a cube is re-minted, it comes from the pool of burned cubes, ensuring that the particular rarity of any given type of Cube in the collection will never change substantially. (7/8)
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@dice-xyz
We made this decision because it enables some novel, fun collector mechanics. Want to switch up your Cubes collection entirely? Now you can in a whole new way. Let us know if you can think of more interesting mechanics this creates. See you Thursday 🧊 (8/8)
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