LegacyLabs, is set to debut the launch of their latest NFT blockchain project, the Sweepers Club. With community and rewards in mind, Sweepers Club will lower entry barriers and “sweep the floor” of blue-chip NFT projects for Sweeper NFT holders.
The “Sweeper” NFT is a generative 32×32 non-fungible token project physically and figuratively inspired by brooms on the Ethereum (ERC-721) blockchain.
Every 10 minutes, one Sweeper NFT is perpetually born and sent to auction. Sweepers auction proceeds are then trustlessly sent to the Sweepers Governance Protocol for the benefit of Sweepers Members.
Every holder of at least one Sweepers NFT is considered a member of Sweepers and therefore has voting rights based on the number of Sweepers NFTs the member owns (1 Sweeper NFT = 1 Vote). If members hold five or more Sweeper NFTs, they can make proposals in Discourse on which NFT project the club should “sweep” next.
All Sweepers Auctions (non-founder) proceeds are sent trustlessly to the following:
- 95% of auction proceeds (ETH) are automatically deposited in the Sweepers Treasury, where Sweepers owners govern them. Sweeper NFT holders will have the opportunity to propose which NFT project floor the collective membership of Sweepers will sweep next and the number of funds requested for the sweep.
- 5% will go to the Legacy Builders Program, which Sweepers Club is its first initiative, and be used further to develop Sweepers and other community-driven projects.
Sweepers Club disrupts the normality around centralized and decentralized business models where a specific few control allocation of funds and what direction the organization takes. The power is in our community, all shares of funds are entirely transparent, and Sweeper NFT holders decide the course of action.
Sweepers will seek to become the most utility-driven and democratized system in the NFT space.
In its entirety, the Sweepers Club of the following:
- $DUST Token: The $DUST Token is the reward token earned daily by all Sweepers Members who stake their Sweeper NFT in the GARAGE. The $DUST Token will never have a liquidity pool added to it or be tradeable on an exchange. $DUST Token is to be used inside of the Sweepers Project only.
- The GARAGE: The GARAGE will be a platform on the Sweepers website, allowing members to stake their Sweeper NFT to earn $DUST Tokens.
- The VAULT: THE VAULT is an online auction marketplace where swept NFT assets are sent to be offered off at auction starting at one $DUST Token.
- The $DUST Exchange: The $DUST Exchange is a place that allows Sweepers Members the ability to buy or sell their $DUST Tokens amongst members of Sweepers. Some members will be waiting for the grail NFT they always wanted, and some will be just short of being able to win a bid and in need of a top-off of more $DUST Tokens.
Although the broader NFT market is still a multibillion-dollar industry, most NFT projects lack actual utility, meaning buyers can not further leverage their NFTs after purchasing them.
The market is eager to see a shift in the current NFT market, which is still primarily driven by hype, pure speculation, and a group of niche collectors or short-term profit-taking investors.
This lack of utility-driven NFT projects and community involvement in project matters is why Sweepers Club was established. We will be the shift in the standard utility-lacking NFT organization model we see today.
Please visit their website SweepersClub.com or Twitter for more information on the Sweepers Club.
Written by: Tyler Hollis
Location: US/Phoenix, AZ