Pink Paper
Introduction
We’re excited to present the first official Pink Paper! We’ve designed this article to give insight into the current state of our project and a look into the future. The topics we will be discussing will be:
1) General Overview
2) Bubblegum Puppies
3) Bubblegum Dao & High Council
4) Bubblegum Land
5) Future Plans
General Overview
The Bubblegum Kids were originally minted on September 30th 2021 and we are so proud of everything that has happened with this project in under 90 days. This is a testament to YOU, the community!
Before we dive into the fun new details of what we are building, we want to provide an overview of the current Roadmap and provide a status report as to where we stand on the commitments we’ve made to the community.
The initial Roadmap we released had seven different objectives and we are near the finish line!
1. Establish Community wallet:
The community wallet has been established and currently has 28 eth. We will work on new funding mechanisms to provide a steady flow of funds into the community wallet.
2. Charity:
We have used funds that we’ve raised from the community to donate to charity. Giving back is a big part of the reason we’ve built this project to begin with. We strongly believe in helping others if we can and there will be ongoing donations moving forward.
3. Buy Land In The Metaverse:
We have purchased a 3X3 piece of land in the Sandbox and we have already started building!
4. Custom Merchandise:
We have made custom merchandise that has sold out. More merchandise is in the works and we can’t wait to see you wear them IRL.
5. Establish Bubblegum Labs:
Bubblegum Labs has been established and we’re excited to work with the DAO moving forward!
6. Free Mint:
The free mint is the Bubblegum Puppies, which will be available to claim within the next few weeks. Specifics of the Puppies can be found below.
7. Bubblegum Kids Comics:
We have started working on the concept and design of the comics!
Bubblegum Puppies
Even before the Bubblegum Kids were minted we had a vision in mind to reward all of our holders with some type of free mint. We really wanted to think outside of the box with this and we didn’t want to just release something that held no value. The question every BGK holder should be asking is:
Why should you claim a puppy?
The first objective in creating the Puppies is we wanted to make it known that the Puppies are not just companions to the Bubblegum Kids. Puppies are a freestanding project within the Bubblegum Universe that will provide utility of their own that cannot be obtained by only holding a Bubblegum Kid. One of the main functions of owning a Puppy is it will give equal voting rights within the DAO. The more Puppies and Kids you own, the more votes you will get within the DAO.
In addition to the Puppies voting rights, the Puppies will also get their own special place in the Metaverse. We are dedicating a section of our Sandbox estate to Puppy holders so they can run around and be free in their very own Puppy Park! We are in the very early development of our Sandbox land so we don’t want to give away too much just yet but the Puppies will have their very own role within the Sandbox.
Puppies will also be getting exclusive access to their own merch drops that are in the early stages of developments. We know a lot of our holders are puppy owners IRL so there may even be something in there for your four legged friends.
Another important part of creating the Puppies is we wanted to make sure we put just as much effort into the design and aesthetics of the Puppies as we did with the Kids. This determination was lead by our very own Warhol-In-Training, KingO Dawg. He has been hand drawing each trait one by one to make sure everything fits nicely together and is visually pleasing. On top of that, we want to make sure the look of the Puppies matched with the spirit of the BGK’s and I think its safe to say we accomplished that. Similar to the BGK’s we also threw in some very special 1/1’s to reward some very lucky minters. These 1/1’s have unique traits that are not available to any other Puppies in the collection.
The artwork for the Puppies have officially been completed and we are just putting the finishing touches on the backend items to make sure everyone can get their Puppies smoothly and efficiently.
How does the Puppy claim work?
The Puppy drop will function as a free mint to current BGK holders and there are 4 different stages within the process.
Step 1- Hold a BGK
The first step in the Puppy mint will be the snapshot. For those not familiar, a snapshot is where we will record all current holders of BGK’s during a specified time. If you are a BGK holder while the snapshot is taken you will qualify to claim a free Puppy.
Since our community is built around fairness and inclusivity we are allowing BGK holders who have their Kids listed to qualify for the free mint. As long as your Kid is not sold by the time the snapshot is taken you will qualify. Although we are permitting listed Kids to qualify for the free mint, we strongly suggest de-listing during the snapshot period to make sure your Kid doesn’t get sold before the snapshot takes place. As long as you’re a holder from January 4th to January 7th you are GUARANTEED to qualify for a Puppy.
The snapshot window will be January 4th- January 7th. The snapshot will take place at a random time between those two dates. The reason we are not giving an exact date and time for the snapshot is because we want to prevent people from buying up the floor a few minutes before the snapshot and dumping on the marketplace immediately after the snapshot. We feel that doing it as a snapshot window will be the healthiest method for our ecosystem without sacrificing the integrity of our project.
Step 2- Claim you Puppy
The next stage of our Puppy mint process will be the free claim period. This will take place between January 7th at 4PM EST and will go until January 14th at 4PM EST. Everyone who was a holder during the snapshot window will go to our website and will be able to mint a Puppy for free. The only cost to holders will be the gas price at the time. Most of you are NFT veterans by now but for those who don’t know, these fees don’t go to us, they go to the miners of the blockchain to process and validate the transactions. Gas fees fluctuate with traffic on the blockchain, so it’s good to check in to make sure you’re claiming your free mint with the lowest possible fees.
Step 3- Public Sale for unclaimed puppies
After the free claim period has ended there will be a two-day window where we will have a public sale for all remaining Puppies that were not claimed. Since claiming a Puppy is optional we understand that there will be some Puppies without rightful owners. There will be no qualifications to participate in the public sale and each of the remaining Puppies that DO NOT get claimed will be sold for 0.06 eth in the public sale. The 0.06 eth price is the exact same mint price as the BGK’s. We feel like this price both encourages new members to join to grow our community while also still providing value to our BGK members who were able to claim for free. To reiterate once more the 0.06 eth price only applies to Puppies that are not claimed. Puppies that do not get claimed and do not sell during the public sale will be lost in the Metaverse.
Step 4- Reveal Jan 18th
After the two-day public sale is open, we will be doing our big reveal where everyone who claimed or purchased a Puppy will be able to see which Puppy they got.
DAO and The High Council
The Bubblegum DAO is one of the most important announcements we have made to date and we are extremely excited to bring it to life in 2022. The reason we are creating a DAO is to empower our community to build and create value for our ecosystem. Together, we have built one of the strongest communities in this space and the team at Bubblegum Labs believes that giving our community complete control of our community wallet will help take the Bubblegum ecosystem to new heights.
What role will the DAO play?
Before we get into the details of the DAO we want to make it crystal clear that we will not be handing over the project to the DAO. We believe that our project is still very early and we have a vision and plan for the future. The Bubblegum DAO is a way for the community to help us build together and will independently run the community wallet. The DAO will vote on proposals that directly impact how to implement the funds in the community wallet. The Bubblegum DAO is the first step to turning a community driven project into a reality. We are invested in the longevity of this project and want to grow together.
How will the DAO work?
The Bubblegum DAO will allow any Kid or Puppy to be apart of it. We are aiming to set up the DAO for Q1 2022. We are looking at all avenues to do this, one likely option will be to issue governance tokens to each Kid/Puppy. Every Kid or Puppy you own entitles you to one governance token. Remember one Kid = 1 vote and 1 Puppy = 1 vote. The more you own the more tokens you get. These tokens will allow you to place votes ON CHAIN!
What is the Bubblegum High Council?
The Bubblegum High Councils primary role will be to create proposals to be voted on by the Bubblegum DAO. The High Council will be made up of 7 Kid/Puppy holders and will serve as your elected officials who will formulate ideas and create proposals that will be voted on.
How to become a member of the Bubblegum High Council?
BEFORE the DAO is formally created we will have the Bubblegum High Council elections, which will take place after the Puppy reveals. The goal of the elections is to make this process as democratic as possible. Your peers will be the ones electing the High Council, not Bubblegum Labs.
The elections will be a 3 stage process:
Phase 1: The Nomination Phase
The first stage in the process will be selecting who will be running for Bubblegum High Council. We will call this the Nomination Phase. We will set up a separate discord channel within our discord specifically for the High Council Election and we will notify the community of a window for when the nominations will take place. During this window members will nominate and declare their intentions to run for the High Council. All members who declare will submit their name into the discord channel. The other members will react to the nominees’ messages. The top 20 names with the most reactions will be nominated to run for High Council.
Phase 2: The Lobbying Phase
The second phase in the process will be the lobbying phase where the nominees will campaign to be voted into the High Council. We will provide a one-week window where the Nominees will lobby their fellow community and canvas for votes. We suggest they take to Twitter and Discord and let their intentions be known as to why they believe they should be elected to the High Council and what they plan on doing for the community. The role of High Council is very important because they will be the eyes and ears of the community and they will advocate on behalf of the DAO. Although the High Council cannot pass any proposals on their own, they will be responsible for listening to the DAO and putting forth important proposals that will shape the future of the project.
Phase 3: The Final Vote
After the one week window is up we will post the names of each of the top 20 Nominees in the Election Channel and each member of the community will get one vote (a reaction) per Nominee. The top 7 Nominees with the most votes (reactions) will be officially elected to the Bubblegum High Council. The High Council term will be active for 365 days. After the first term there will be a new election and this process will start all over again.
To summarize the voting system for the DAO is 1 Kid = 1 vote and 1 Puppy = 1 vote
BUT
The voting system for the Bubblegum High Council is 1 holder gets 1 vote per nominee.
*** Special note: Every member of the Bubblegum High Council will receive an Honorary Bubblegum Kid ***
The Bubblegum High Council proposals:
The Bubblegum High Council will be able to put forth proposals to be voted on by the community. In order for a proposal to be presented to the community it must have majority approval of at least 4 high council votes. The proposal then will be presented to the community and if it reaches the minimum vote threshold then it will move forward. The High Council will listen to the community to organize the proposals and put forward ideas that they believe will be beneficial for the community. But with any democratic process, if the proposal doesn’t meet the minimum threshold of votes, the proposal will not move forward.
More info on the logistics of the DAO will be released after the Puppies are minted but we are extremely excited to put these next steps in place to grow the community!
BUBBLEGUM LAND
The next big tangible initiative that we’re working on right now is creating Bubblegum Land in the Sandbox. We have fulfilled our Roadmap promise and went ahead and purchased an estate in the Sandbox. We have purchased a 3X3 piece of land in the Sandbox and have been assured by the Sandbox team that we will be considered a premium partner based on our geographical location within the Sandbox. This is great news because it means more exposure.
We also have contracted a great team of designers who specialize in building in the Sandbox. We’ve had a number of meetings with them and they have already started working on bringing our concepts to life. The land we purchased is fairly large so we will have a number of different areas within our land for holders to have fun and participate in different ways. Some concepts we’re developing for Bubblegum Land that are currently being built are a Castle, Candy Forest, Puppy Park, Gingerbread Village and more! Each area will allow our community to do different things and collaborate together.
The Sandbox is very new right now and we believe there will be a lot of changes to the capabilities within the Sandbox so we will reserve some space in our land to build future activities that might not be achievable now.
The Sandbox development team hopes to have our land completed within the next 3 months. We can’t promise since there could be hiccups along the way with such a new platform but we have faith in the Sandbox builders we contracted with. We are prioritizing quality over speed to make sure it’s created properly. We know 2022 is going to be a huge year for the Metaverse which is why we wanted to have a big head start in building a piece of the Metaverse. We see owning land in the Metaverse like owning an apartment building in Manhattan. The world is going virtual and we own a piece of coveted land in the Metaverse.
Future Plans
As we near the end of 2021 we also near the end of Roadmap 1.0! Roadmap 1.0 was centered on building our community and providing a foundation for our project. Roadmap 2.0 is going to center around building out the Bubblegum Universe. This project is not just an NFT project, we are building a global brand. Roadmap 2.0 will heavily focus on the lore of the Bubblegum universe. This includes a Bubblegum Comic and the much-anticipated portal.
We just want to reiterate how excited we are to build into 2022. We know this project was minted less than 90 days ago but we are growing so fast and picking up steam every day! We can’t thank our community enough for believing in us and allowing us to achieve so many of our goals so early. It truly wouldn’t be possible without the community. If you re-read this Pink Paper the word community was probably our most used word and that is because that is what we are truly here for. NFTs have given so many different things to so many people in the last year but for us its given us a group of like minded people that we consider family. We appreciate each and every one of you and we can’t wait to build with you all going forward.
#BGKTAKEOVER
