What's more decentralized than an NFT collection for which each minter is selected at random? This project is an experiment in creating an "NFT Camera" which changes hands at random each day. We create a low barrier to entry to participate, so that anyone can join the game (we'll eventually have a front end that integrates with Circle's API so that anyone with a bank account can join). Each day, 1 participant is randomly selected; this lottery winner has 24 hours to snap a single photo which is minted as an NFT. Over time, as more people become aware of this project, we imagine that pieces might become more valuable (part of the impressiveness of Beeple's work is the consistency with which he has created his pieces, so we're taking a page from his book. Yes, we expect to be 2 of the top 5 wealthiest living artists). If this happens, we are curious to see what gives one snapshot value over another – the photographer? the location the photo was taken? the subject of the photo? the id/serial number? Similarly, what will people photograph? We're very excited to watch this project grow and hopefully provide some answers to these questions.
How It's Made
This project uses (will use) the Circle API so that anyone with a bank account can join. Currently, users can stake some amount of Eth directly from their accounts to participate. As a staker, the user is entered in a daily lottery from which 1 user per day is selected to take a photo and mint it as an NFT. We use Chainlink's Verified Random Function to create a random number from which the lottery winner is determined (random number mod # stakers). The staked funds are converted to $LINK as necessary to generate random numbers. However, as these pieces are put up for auction and sold, 7% of sales will be redistributed to the current stakers as a reward for participating. 3% of the sale is distributed to the contract's pool to maintain $LINK funds. 80% goes to the owner, and 10% goes to the original creator. As a staker, you can withdraw your stake – it may be less than you entered initially if there were no sales and LINK was required. But it might be significantly more, especially if the project catches on and there are tokens changing hands.