SatoshiFaces - Overview

Artwork Distribution

All artworks throughout the sale period will be sold unseen. Similar to any collectible, this ensures an unbiased distribution of rare pieces. To maintain fairness throughout the distribution process , all artworks are randomised and then sequenced from 0-4998. This sequence is used by the provenance records and final proofs then immutably embedded into the SF smart-contract. A 7 day distribution period beginning on the 5th of April 2021 at 12:00 GMT will be utilized. Participants in this initial period will receive their Face NFT immediately after purchase but the artwork assigned to each NFT will not be assigned yet. At the end of the 7 days, on the 12th of April at 12:00 GMT, an on-chain mechanism is executed to randomly assign a starting index to the collection. This index is applied to the sequence and all artworks are then distributed to their holders. Any artworks purchased after the 12th of April 2021 will become immediately available and part viewable to the owner to begin the unlocking process.

Artwork Unlocking

Artwork unlocking, one of our piéce uniques. An additional feature that will enhance the experience of revealing your next collectible artwork. When you first purchase your Face NFT the artwork will initially be covered up by 9 equally-sized segments. The first segment will be removed immediately allowing you to view a small portion of your artwork. The remaining segments will be automatically removed at a rate of 1 segment every 2 days from the time you purchased, meaning after 16 days all the segments will be removed and your artwork will be revealed in its entirety. To keep the process interesting, after 5 segments are unlocked the naming feature becomes available giving you the chance to name your artwork.

Artwork Staking

What will intrinsically differentiate this iteration of digital collectible artworks from any other are the SatoshiFinanceToken (SFT) rewards generated from holding them. These tokens won’t just serve as a tool to allow the changing of artwork names but rather form the functional basis of our developing ecosystem. An ecosystem that will include the first NFT x DeFi combined platform of its type.

There will be no token sale, private or public and importantly no pre-minted team or advisor tokens with aggressive vesting schedules. The only way new tokens will ever be generated and brought to market is through the holding of Faces. Thus truly embodying Satoshi’s vision of decentralisation.

Artworks held by an owner in their wallet will accumulate 5 SFTs a day for the first year, reducing by 25% a year for a total of 10 years at which point the final SFT token will be minted. To claim your accumulated SFTs please click the claim all button on the wallet section of the site. Once claimed, the tokens will be transferred to your wallet to either utilize on the platform, hold, or sell.

Explicit Rarity

To provide general guidance on the hierarchy for the digital collectible art pieces, the creators have provided a set of explicit characteristics with differing degrees of rarity. For example, male characters are much more common than their Ape counterparts. The explicit characteristics will be defined within the categories section on the gallery. Individual rarity statistics can be viewed by clicking the icon on the artwork. This function will be available as soon as the piece has been fully unlocked. Rare traits can, therefore, be established before all artworks are sold out. The image below illustrates the various explicit rarities that can be found within a collectible. Beyond the initial bounds of explicit rarity, there is a second layer of scarcity imposed via implicit traits and the naming process.

Implicit Rarity

When it comes to art, especially those created by hand, no two artworks are the same. The enigmatic differences within the pieces seek to establish additional bounds of implicit rarity. These rarities take many forms, from colours of the clothing to subtle variations within items.

The final and most substantial form of implicit rarity is the “Name” chosen by you, the owner. A name that once etched on-chain cannot be duplicated. In the year 1500 Da Vinci named his most prized piece the Salvator Mundi and as we move through time every great piece since has had an equally synonymous name associated with it. We might not have created the next Mundi but an owner's interpretation of their art and subsequent naming of it still holds a certain gravitas.

The images below illustrate two identical artworks with differing items. Whilst the 8 Ball is a vastly more common item compared to the Bitcoin Book, the wording within it, whilst subtle, appears less often, making the item implicitly rarer. The implicit rarity traits and variations will not be categorised or calculated, they are left as an enigma for the community to decipher.