Weekly update #2
This week enter is introducing governance, launching a new paid advertisement campaign and having a vote about accepting additional currencies on the platforms.
Dear Enter community
We recently started a new announcement cycle. First a bit of information around the structure. To get more (important) stuff done faster, we’ve moved from a fixed date roadmap to a more iterative approach. To still give you some feeling of when things will happen we’ll be using the following terms:
Super Short Term - Days, Weeks < 1 month
Short Term - 1 to 2 months
Mid Term - 3 to 6 months
Long Term - 6 months +
These announcements are not a detail of everything we have planned in all the different terms - just the ones we are actually working on and ready to announce.
The last week, we have seen unified efforts of the community taking part in spreading the word about enter. During this time, the page view count on the enter and NFTART webpages saw a whopping 350% increase.
Our token was on the top gainers list of CoinMarketCap and large movers on CoinGecko.
This resulted in that over the course of this weekend, we got almost 100 applications from artists all over the world wanting to join enter.
In addition to this, it’s a pleasure to announce that we have reached 10 000 collectors on enter!
SUPER SHORT TERM
Be on the lookout for targeted paid ad campaigns in social media and the World Wide Web starting this week.
Go - Go - Governance
Since day one governance has been on the roadmap, but it’s been sacrificed, or put on hold, in order to move faster. Today we’re proud to introduce our first ever governance vote. And it’s a big one with a lot of significance for Enters future growth.
Governance will happen on https://vote.enter.art/ - right now we’re using snapshot.org, like Sushi, Uniswap, Aave, Pancakeswap and others are using, but in the future we will be integrating governance, staking and more into the fabric of enter.
Our first governance proposal, if passed, is something we will implement SHORT TERM
Our first governance proposal has the main goal of making the enter ecosystem attractive to a wider range of artists and collectors, increase buy pressure and reducing volatility of the NFTART token, as well as speeding up the long awaited payment gateway.
We’re proposing to introduce 2 new cryptocurrencies to enter. BNB as the native coin of the Binance smart chain, and a Stablecoin, to be voted on in a separate proposal. If we do this, it will be done in a way where it benefits the NFTART token even more than having it as the only payment currency on the enter platforms.
Why are we proposing this:
It’s no secret that buying NFTART (or any other token) can be a difficult to understand process for the non-initiated crypto muggles. While we’ve made tutorials, put up links, and helped a lot of people 1 to 1 on Enter.help, it for sure makes it harder than it has to be for some people to take part in our platform.
Also, as we’re talking to brands and names with larger fanbases that will bring more volume to Enter platforms, the concern over price volatility if they need to cash out large amount of tokens from NFTart might keep them from using Enter for their drops. It would also risk negatively impacting the token price for holders.
Lastly: it turns out developing a fiat payment gateway for our token was a longer process than expected for our payment partner, while launching one for a major coin is more out of the box. Letting people buy more art with more payment methods will speed up the adoption of Enter - and NFTs in general. We will still work to get an NFTart payment gateway as soon as possible.
How will this affect the token:
In our proposal we are suggesting taxing BNB and Stablecoin transactions with a 14% fee, where 10% goes to buying back NFTart tokens, pairing it with BNB and adding it to the liquidity pool. This will ensure that every sale on an enter platform leads to a net purchase, buy pressure and increased liquidity. Compare this with a sale for NFTART tokens, where whenever an artist cashes out on a sale, it leads to sell pressure on the token, almost equal to the buy pressure applied by new buyers.The remaining 4% will go to a transparent treasury used to fund Enter initiatives and long term development of the company.
This means that while NFTART sales will lead to a slightly higher burn + redistribution, BNB and Stablecoin sales will still burn and redistribute tokens, attract higher value sales, add a net buy pressure on every sale AND decrease volatility by adding permanent liquidity for NFTART.
NFTART sales will stay competitive as they will always be exempt of any transaction fee. We will keep adding use-cases in the future to grow the utility of the NFTART token on all enter platforms, such as staking, governance, loot-boxes and much more.
If passed the timeline for this feature is SHORT TERM (as in about a month).
Payment gateway - were hoping this is Short Term, but mid term guaranteed as it needs to be ready for our main MID TERM project: Enter.x.
Regarding X, We are finalising talks with the first Enter.x candidates, hopefully this week. Enter.x is a program where artists with a large following can get their own branded drop sites where they can invite all of their fans to buy their NFTs as part of branded experience. While the development takes a bit of time, once we’ve got Enter.x up and running we’ll be able to launch dozens or even more of these sites every year.
This will also end up benefitting the whole Enter community, including artists and collectors, since the default secondary marketplaces for Enter.x platforms will be enter.art, enter.audio and future enters. This will introduce new fans, users and community members to the entire enterverse.
Please go vote in the first historical Enter governance vote. And feel free to tell us what you think about these updates. They’re meant as a way to tell you what we’re working on, AND get your feedback in the process.
The best place to ensure that your feedback reaches us is trough https://enter.help
Thank you to everyone for your continued support!
News from the enterverse
Wondering what the state of the enterverse is? Here you can stay up to date on the latest developments and news from enter.