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Cryptoodles Loot $BAG
This documentation includes information about the Cryptoodles Loot $BAG NFT.
Introduction
Cryptoodles Loot $BAG is a Non-Fungible Token (NFT) in the Ethereum blockchain. There are a total of 10,000 Toodle $BAGs, with $BAG number 1-8,999 can be minted for free. A Toodle $BAG NFT is a unique authentication token that is designed to give the token holder elevated access to the evolving Cryptoodles Metaverse.
Examples of having elevated access in the Metaverse includes:
- Opportunity to mint the first Toodles
- Owning a piece of Land for free in the Cryptoodles Metaverse
- Ability to vote on how the Cryptoodles Metaverse should expand
Everyone can participate in the Cryptoodles Metaverse, but not everyone will own a Toodle $BAG NFT. Once the original Toodle $BAGs have all been minted, those 10,000 token holders own the only Toodle $BAGs that will ever be created in the project.
Does Toodle $BAG Have any Value?
The value behind Toodle $BAG is its ability to act as an authentication token for the Cryptoodles Metaverse. An authentication token is "something" that allows a computer system to grant specific rights and access to the holder of the authentication token.
Because only 10,000 of these authentication tokens that will ever be created, the value of holding one is being a part of a group that receives extra perks and access for the lifetime of the Cryptoodle Metaverse.
Once all 10,000 tokens have been minted, the only way for a person to own an authentication token is through buying it on secondary markets.
Cryptoodles has successfully designed an NFT called $BAG that spawns additional NFTs for a user’s wallet.
These NFTs generated from $BAG comes from different blockchain projects that $BAG integrates with. These projects include Cryptoodle developed projects, as well as project collaborations with existing blockchain projects.
Projects in the Ethereum blockchain are built independently, with different project owners, goals, roadmaps, and purposes. $BAG is the first project to focus on creating an infrastructure for blockchain projects to interact with each other.
$BAG in one picture
At the simplest idea, $BAG is a railroad, while existing/new blockchain projects are the trains that utilize this railroad. This article goes in-depth about the different ways $BAG is positioned to bridge blockchain projects through an interconnected space.
$BAG Architecture
$BAG currently has 4 layers that sit on top of each other: Foundation, Project Integration, Services Enabled, and $BAG Holders. These layers are positioned this way to be able to scale vertically, as well as horizontally with ease.
As more projects and ideas come to fruition, the layers expand horizontally. As the $BAG architecture and its framework grow, the layers expand vertically. This allows $BAG to test innovative ideas without the fear of failure bringing the project down.
Foundation
This is the most important layer in the $BAG Architecture. The vision for $BAG is that it is “a simple $BAG that spawns ideas”. A $BAG can be thought of as a generational key that enables blockchain projects to connect.
Without $BAG, each project in the blockchain will have to set time apart in their roadmap to enable working with projects. $BAG gives projects access to a multiverse where they can interact with different projects through a similar language.
The Foundation layer extends vertically on the right side, to touch current and future layers of $BAG. This shows that through $BAG, projects and their ecosystems can interoperate in a shared space.
This allows for independent NFTs to be used together as if they were minted from the same project.
Project Integration
This layer contains projects that have integrated with $BAG. It contains a mix of Cryptoodle owned projects, as well as collaborations with deployed blockchain projects.
Thousands of blockchain projects are released daily which makes it challenging for projects to instantly onboard into a multiverse. There are technical challenges that need to be solved to make one project’s NFT compatible with another.
From a technical perspective, $BAG solves those challenges by giving developers a framework to quickly design, build, and onboard projects into the shared multiverse. Through this framework, services such as digital collectibles and gaming will be able to be built for each project.
From a $BAG owner’s perspective, this just means the more projects that $BAG integrates with, the more unique NFTs that can be spawned from the $BAG.
Services Enabled
This layer represents the things that you can do with $BAG and the NFTs it generates. Whether it be using the NFTs for gaming, social networking, or even trading as digital collectibles, this layer is dependent on what the community wants to do with their NFTs and the developers that create those services.
Creating services such as a game or even a marketplace sound straightforward when you’re brainstorming. In practice, this takes significant work and effort from a development perspective. Because of that, this layer may lag compared to the other layers.
However, once you’re able to interact with the NFTs you’ve accumulated over time, this layer will be the most rewarding experience for $BAG owners.
$BAG Holders
Over time, new Cryptoodle led projects, as well as collaborations with existing blockchain projects, may be developed. $BAG allows for these new NFTs to be sent to $BAG holders.
$BAG holders may also be white-listed automatically to be the first ones to gain access to new projects. This mechanism of giving higher priority for newly developed NFTs and ideas to $BAG holders decreases the need for public gas wars and puts the $BAG community first.
An example idea that could be explored is enabling PFPs (profile pictures) to be redeemed for each $BAG holder. These profile pictures can only be generated from a $BAG. If someone who does not own a $BAG wants a profile picture, they will need to get one from a $BAG holder who has listed theirs in a secondary market.
Conclusion
A simple $BAG that spawns ideas.
That's a powerful statement. At its core, $BAG is a hammer and a nail. At a more technical level, it’s a framework that allows blockchain projects to collaborate through a shared ecosystem with one another. Imagine if all blockchain projects that were created were able to work with each other instantly.
That is the $BAG vision.
Cryptoodles packaged that vision into an NFT with SciFi words on it. SciFi words were used to represent the technological advantage that this framework will create for projects within the blockchain industry. $BAG owners are at the core of this vision.
They hold the generative seeds to allow for current and future blockchain projects to connect. That is why this project started as a free mint. We want as many holders with $BAG NFTs.
Once all of the $BAG NFTs have been distributed, a community will form around this vision. The Cryptoodle team is focused on slow, organic growth with the goal of the project to advance blockchain technology. The community will focus on being the knowledge pioneers, and they will share this vision with other blockchain projects.
Behind the scenes, collaborative efforts with projects will be created, design and development of $BAG integration will continue into a proof of concept, and new ideas will be packaged into NFTs for $BAG owners.
Last modified 1mo ago