Trait Swap App by Fancy Bears
The time has come. Fancy Bears are going to change the NFT world forever. We called it “the NFT 2.0” and told you many times that this is something groundbreaking, avant-garde, radical, innovative… Let’s get straight to the point. The change that we intend to bring to the NFT world has been brewing for some time now. Our idea to make our exciting space even more revolutionary and dynamic was born just after the initial public sale, more than two months ago. We needed many clean whiteboards, passionate discussions, calls, diagrams, steps back, iterations, and sleepless nights until we were 100% sure that the concept was just what NFT communities needed. But—firstly, we want to start with the Bears.
$HONEY is the key. As we already told you in the original $HONEY article:
“$HONEY is a tradable, deflationary, utility, Fancy Bears Metaverse native, Ethereum Mainnet ERC20 token. It will be used and distributed among the Fancy Bears community, but it will thrive inside the whole NFT world. Fancy Bears community is the first to get access to it.”
Instead of trying to merge Web2.0 and Web3.0 solutions, we decided to go all-in and introduce a full on-chain model for modifying the way your Bear looks. So far, the Trait Swap was supposed to be a Web2 + Web3 application, where $HONEY is necessary to do the swap, but all the traits are stored off the blockchain. After long consideration, we decided to take one step further ahead.
We call it the NFT 2.0 — or GamFi — and it combines ERC721 and ERC20, Gaming, and DeFi.
Every single trait, both the original collection and the new traits, will be an ERC1155 token, the same standard that was used for BAYC Serum or Adidas Originals pass. And every trait swap would mean that the ERC1155 token is being staked in the contract (as long as the trait remains in use). For that particular reason, we created a separate trait staking contract.
Your Bears will be even more amazing and unique than they used to! We work super hard to make the new, custom traits better and cooler than V1s.
The ERC1155 traits won’t change the original metadata. Present traits will remain the same and unaltered. Whenever a Bear holder wants to use a new ERC1155 trait and change the look of the Bear, it will be displayed in properties on OpenSea as V2, that is, V2 Hats, V2 Clothes, V2 Ears, and so on.
We want people to see both the V1 and V2 traits because, first of all, the modified Bears will still remain tradable. Buyers need to know what the original Bear looked like, and if a Bear is wearing an ERC1155 trait during the trade, this particular trait will also become part of that trade.
We want to keep the originality hodlers won’t lose anything in terms of their Bears value. All the original Fancy Bears would remain the same, but we’ll be topping up their looks with the new traits. The key to unstake the ERC1155 — take off the trait — will always be that particular Bear wearing the trait. If you sell the Bear with staked traits, they will also change the owner!
Every single trait will have a total supply similar to the current supply. Once the supply is minted, no one is allowed to mint more. Also, the price will be different between the common and the rare features. V2 Original Traits and the new traits will all be placed in the same contract, so they are going to be displayed as a part of the same collection on OpenSea. They will only have different names, like Space Suit V2 (the original collection) or SWAT Vest V2 (the new collection).
Every hodler will be able to spend $HONEY from his Bear only on the Bear that carries it. At the same time, $HONEY from Honey Jars will remain universal.
That’s not everything. We mentioned many times that we want to promote hodlers investing in their Bears. We will be introducing two properties called the “Bear Level” and “Eaten Honey”. We want to connect the Bear Level with the new V2 Traits. We are going to set up a level below which a particular trait won’t be wearable by a certain Bear. For instance, if I own a Golden Crown with Rubies available for lvl 4+ and my Bear is currently sitting level 3, then he won’t be allowed to wear that crown.
Bear Levels will be strongly connected to the $HONEY farming system. They will be related to the farming speed and capacity to carry harvested $HONEY. This is also where Honey Jars will play an important role. But that’s not everything, more benefits related to the Bear levels will be announced in the future.
The revolution starts with the Fancy Bears, but will soon cover the rest of the NFT world. Everyone will know where it started — in the coolest and the fanciest community (that is: you guys!). The Trait Swap Dapp will be deployed next week, the week after we’re going to list the $HONEY token, and a couple of days later… Well, amazing times ahead!