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Meeting LGH NFT Snuffles Sunday 31-10-2021

Transcript Meeting NFT Snuffles

 

On today's meeting we'll try to explain briefly about Snuffles NFT
what are they why is it good to have them and how to get them
NFT stands for non fungible token
this means its one of the kind and there can't be more than 1
like for example Snuffle texture (the skin) - few you can behind me on that big white wall
Each Snuffle Skin has unique ID
btw ... nice to see you all joining in such a big numbers ^^
success - we're finally running out of seats \O .. O

NFTs are a very big thing currently all over the world and is driving crypto forward
you can imagine NFT being like a rare ART painting

Lets say a painting from Picasso, the rare art are sold on auctions and they fetch a very big price... only rich collectors can afford to buy the rare paintings
why are they so expensive ?

Because they're non fungible... they can't be copied (the original) and the artists who painted them is usually dead
so they can't make more of original art...
we are now living in a digital world...
and the art that is created is also often digial ...
digital
we treat each Snuffle SKIN as a piece of digital art
like Picasso's paintings...

For each skin that we sell as NFT there can be only 1 owner who buys it 1st. This owner can sell the NFT skin later at bigger price
Now imagine that you could buy Picasso painting as NFT
and the museum would ask you to put on display there and they will give you 15% commission from all the museum/art gallery tickets they sell
then your Picasso NFT would be making you money
This is how we designed Snuffles NFTs

When you BUY Snuffle NFT - specific skin ID you get right to receive 50% from the sales commission when players in Snuffles Breedables game trade the snuffle with that same skin id
When you set your snuffle burrow for sell so that other player buys that snuffle in SL..

When you own a Snuffle NFT and if you want for example print that SKIN / picture of snuffle on a coffee mug and sell the mugs to people You can

There is a company that can do that for you. I saw that even LL is using it... to sell T-shirts and mugs with their logo. But I think cute snuffles skins would look better ;)
The Snuffles game in Second Life is booming ....
lots of breeders
and new ones joining and we're tweaking the breeding chance so that breeding snuffles is enjoyable
so yes this is the reason why its worthy to bid and try to win at Snuffles NFT auctions
we currently have 3 Snuffles skins on NFT auctions
[11:24:36] Wili Clip: Snuffle #2
https://algogems.io/nft/384873412

Snuffle #3
https://algogems.io/nft/386185862

Snuffle #4
https://algogems.io/nft/386291693
the numbers represent the SKIN ID
lets for example check the skin ID 4 Snuffle #4
http://www.snufflesbreedables.net/tools/snuffle.php?id=4
brown skin snuffle with green eyes
btw the snuffle game is designed in a way so that green eyes are the rarest in all skin colors snuffles

Snuffle NFTs are sold for cryptocurrency ALGO
ALGO = Algorand
currently 1 algo is trading on crypto exchanges at $1.83
yes the lowest possible bid is 35 algo

We're not selling Snuffles NFT for L$ due to possible complications with LL
Snuffle Skin NFTs are outside of SL
and they grant you our private license to receive a split commission on snuffles trades in the Snuffles Breedables game in Second Life.
This way my lawyer said should be ok
As content creators in SL are allowed to set split commission on sl product sales - even SL Marketplace functionality enables that .

Snuffle skin graphic is not a virtual product in Second Life.
Just the snuffles 3D prims when the graphics are applied on them in the Snuffles Breedables game.

This is why we can sell Snuffles Skins as NFT outside of SL
and this is why you can only buy Snuffle NFT with crypto urrency ALGO
We are doing the auctions on algogems.io platform
Buying ALGO on Coinbase exchange is as easy as buying L$ or even easier actually..
So anyone that is interested in Snuffles NFT you can create yourself an account on Coinbase exchange where you'll be able to by ALGO.
then once you have ALGO
next step is to transfer it to your ALGO wallet
There are 3 different algo wallets that can be used with algogem.io
- MyAlgo (online website wallet)
- Algosigner (Chrome extension)
- The Official Algorand (mobile application)

you can choose to use any of these above (they all let you sign into algogems)
you'll need to send your ALGO that you bought on Coinbase from Coinbase to your ALGO wallet
and here is the reason why we chose ALGO crypto instead for example ETH to do our auctions in
the transaction cost when transferring ALGO from exchange to your wallet is just 0.001 * ALGO price which is aprox 0,00183 usd
its cents
while for ETH the transaction cost can be around 40 USD...

yes it would be impossible to sell snuffle NFTs if people had to pay transaction cost that is similar to the initial price of snuffle NFT ^^ it would be absurd
this is why we choose ALGO
ok so once you manage to win on auction
and you get yourself a Snuffle NFT
we add you to our database as the owner of that skin ID
then you can collect L$ commission whenever players in Snuffle game trade that snuffle between each other
commission on snuffle trades is 30% and the 50% of this commission is what is shared with NFT owner
the ATM for withdrawing Snuffles commissions
is behind us across the road next to the stone head ^^
the 1st Snuffle skin NFT owners are already using it and cashing out their earnings
not only you make monies with owning Snuffle NFT you can also set it for sale and let someone else buy it from you. You can use algogem.io platform to set an auction - we allow advertising your Snuffle NFT auctions in our groups.

and in future we will also create NFT market on our website where you'll be able to trade it for CC Tokens... This will make CC Tokens grow in value - their price will be higher
Thats it.. thats all that I wanted to say today about Snuffles NFTs ^^
thank you for your attention
we can have a short Q & A
does anyone have any questions ?

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Snufflemania HAS STARTED! LAB IS BACK
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  •  · Wili Clip
Sat, Jan 30 2021 7:35:54 PM PST With great great pleasure I am announcing that The Snuffles LAB IS BACK! Snuffles LAB is a bit like POKEMON LAB! Snuffles Lab You can check and find all the possible snuffles skins to breed and as you click on them you can also see if any are for sale. THE SNUFFLEMANIA HAS OFFICIALLY STARTED I fell in ♥ with Snuffles again. They are just so cute!