I am putting out a call for clear info from projects on several aspects that will clarify some key points about CAT/NFT projects and hopefully help stave off the first bad actor for as long as possible. The points I am going to be asking projects to address fall into 2 CATegories. For Profit CATS and non-profit CATS. As you can expect a non-profit CAT doesn’t really have much they would need to be transparent about.
I will also be supporting publicly accessible and clear listing criteria from OfferBin and Hash (and any other DEX/offer tech that will be coming into the sphere). The following criteria I feel are important to address in a for-profit along the following points.
Who are the people behind a project and or who will be responsible for the delivery of the project’s deliverables? While I doubt most CAT projects will be disclosing names, the more transparent a project is the clearer it will be to the public. AKA some form of business/individual/team/responsibilities description.
What exactly will be the deliverable from a CAT? Not just sample art from a say NFT project, but if you are a for profit CAT a clear description of what the offering entails. That would include objects that present a perception of scarcity/rarity as a unique value proposition. In the case of NFT, I will be calling for projects to up front state the ownership/commercialization restrictions of IP related to the NFT that will be produced. The exact wording of any presale token that will at redemption time opt someone into an agreement for a minting of that asset. A clear path in the instance this wording does not/did not exist at the time of initial offering for those who seek to opt out and regain their initial funds.
Even if you do not know when, providing a clear “here is the place” that can/will be updated with project progression information. I feel that estimations on deliverables are certainly hard to anticipate given the nature of some of the things projects are already producing but giving information even if it is “we are working on XX part of the puzzle” would be a nice thing to update at times to keep the public interested.
I actually will not be asking for a WHY. Why, you might ask? It is not really easy to nail that down, especially for an artistic venture, in my opinion. The motivations of a project could be like, “I want to produce a bunch of dancing aliens, spartans, felines, insert-other-thing” and that’s fairly obvious. If a why is applicable, like for the AstroCAT project I know and understand outreach is a very important topic, maybe you include that information.
Where actually does not (yet) seem relevant either as it’s the internet and such. Not to say it’s not important, it could be very important and if it is, it obviously should be included in the project’s points of interest.
While I think discord is a great venue, I might also suggest a simplistic website is probably a great way to present information to people as well. A clear linking to the socials surrounding a project can only help grow a brand as well.
I rolled out a video about these topics, make sure to give it a check and stay safe out there.