Included in your Ape Fun Gaming All Access Pass
Holders of these passes get 2 things, vault-asset use from 2023 to 2024 for free, and a mint pass for 1 Battle Kong in the fall. The Guild will be lazy-minting a 600 kong supply to the vault, 150 from each region. All Access Pass holders get first choice of region from the pool of 600 during the Battle Kong's whitelist access sale (and yes there are enough from each region to cover all requests!). You'll also be able to choose which Battle Kong you want from the pool available. Choosing will be based on which access pass you hold. Access Pass mint #1 will have first choice, mint #20, last choice.
To get an all access pass, head here to mint one.
Entering into a bear market has major advantages for buyers and investors alike. Firstly, blockchain assets become relatively inexpensive. Secondly, the process of natural selection that a bear market brings about tends to kills off; subpar projects, short term cash-grab opportunists, and sadly, underfunded projects that may have amounted to something in a bull market.
In short, bear markets bring cream-of-the-crop projects and assets to the forefront, at exceptional prices.
The AFG Guild was planned in Q3 of 2021 but with the static of a raging bull market, and prices of assets sky high, we decided to postpone the launch. Opting to wait for the inevitable bear market the US Federal Reserve would create through its decision to raise interest rates. A bear market, which we believe will continue to play out and intensify over the summer. Giving our Guild a chance to go shopping, at a discount. This is not investment advice.
As it relates to us, and to the wider crypto world we’re in, a guild is typically a group of investors, who buy up blockchain game assets. They then lend these assets to players in developing nations, where the minimum wage is atrocious. The process of lending is called a Scholarship.
Players who receive a scholarship are appointed a manager who manually oversees the process and tracks a players progress. Players go on to use the assets to earn NFTs and Tokens, typically amounting to far more than minimum wage in their nation. The Guild takes 20-40%, reinvests in more assets, and perpetuates it’s own growth, under this model.
No, although we do like the humanitarian undertones. The reason for that is traditional guilds (mentioned above) put extreme amounts of downward pressure on a games assets. It isn’t the guilds fault, it’s typically the games fault as it was set up to heavily reward users holding low quality assets. This in turn puts downward pressure on that guilds assets. So it’s a win win for a bit, and then it all crashes. In short, the business models of traditional guilds, and the games they invest in, aren’t sustainable.
The AFG Guild’s focus is more about Quality assets that retain – and increase in – value, vs quantity of assets. We’re also more exclusive. Our Guildmaster membership only allows for 100 people. Our scholarship program, drafted by an MIT student will only allow for up-to 20 players, and our asset lending (2023-2024), only 200 people. This is because our end goal is to launch an asset rental app (the Ape Fun Arcade) for all of the assets in our vault. The reason for this is to automate the asset lending process leaving our Guild to operate much like a SaaS.
Instead of you buying a guild-access pass NFT and being paired with a scholarship manager who manually lends you an asset and tracks your progress, you’ll buy a monthly rental subscription NFT and the app will handle everything from there. An app with team reviews and user reviews, for each game.
Our market is slightly different also, they’re gamers who’d like to explore titles without having to dish out thousands of dollars on high-quality assets, just to see if they enjoy a title.
To join the governing body of the Guild, and enjoy the benefits that come with it, you'll need to own a Guildmaster NFT. There are only 100 of them, and 2 of them are permanently out of circulation. They belong to Caesar and Smash.
To join the larger guild, and get early access to the assets before the launch of the rental app, you'll need to purchase an Ape Fun Gaming All Access Pass.
The Vault, for all intents and purposes, is the Ape Fun Arcades vast storeroom of games. Or more specifically, it's a storeroom of blockchain game assets that will be rented in our rental app, the Ape Fun Arcade. Before we launch the Arcade, holders of the Ape Fun Gaming All Access Pass will receive early access to the Vaults assets free of charge, for a period or time that expires with the launch of the Arcade. The Vault, has been pre-seeded with assets from the Banana Kingdom (our title), Warsaken, Blankos, Bigtime and Ember Sword.
The Treasury is made up of assets we deem to be short or medium term holds, these assets haven't yet made it to the Vault, but we're not quite ready to trade them up either. Guildmasters will meet monthly to discuss and vote on whether or not an asset is moved to the Vault, or traded up for another asset. The Treasury is the bottleneck between a world of assets with potential, and the Vault.
All Vault assets that produce passive or semi-passive dividends are automatically reinvested into the underlying project that produced them. All Vault assets that produce active dividends, or, additional assets through scholarship gameplay remain in the Vault where they remain until phase two (see the roadmap).
As a Guildmaster, you have access to a full accounting of what's in the Vault as well as the treasury. If you're not a Guildmaster, you'll have to wait until the second half of Phase 1 begins. However, you can see which titles are in the Vault, by visiting our website at ape.fun.
You can get Early Access to use our assets free of charge, by purchasing an Ape Fun All Access Pass from our website when we hold the public sale.
The Vault is comprised of multiple wallets across different chains that are all secured through multi-signature cold storage Trezor and Ledger devices whose seed recovery phrases are stored on stainless steel devices at an undisclosed location. To boot, all Vault transactions occur on a private network with 1 connected device (a laptop) which is only used for Vault transactions. This extra security minimizes the risk of exposure to network, browser and phishing attacks. In short, it can't be hacked.
A 100 person strong micro DAO
Guildmasters control the Treasury, and are charged with two very important Guild tasks, one a month. Voting on proposals to add or remove blockchain game NFT & Token assets from the Treasury. And voting on whether to reinvest or distribute a portion of Treasury profits. Voting will take place on the 25th, 26th 27th, 28th, 29th and 30th days of every month. With the exception of February. Allowing a 6 day period for Guildmasters to make proposals, and cast votes, at their own leisure.
The Guild will make money every month through the treasury in phase one and through both the vault and the treasury in phase two. Guild profit is made by acquiring game assets and either selling them at a profit later, collecting token or NFT dividends produced by the assets, or renting the assets. Below is overview of how these profits are distributed.
30% of Treasury profits derived from asset sales and dividends produced by assets are distributed to Guildmasters on a monthly basis for the first 20 months.
Another 30% is reinvested into new assets that have passed our process of selection timeless test. The remaining 40% is reinvested (through a buyback pair) back into AFT liquidity, liquidity which the Treasury passively earns from through swap fees. Phase 1 officially begins when the first Guildmaster NFT is sold. Voting officially begins when all 100 Guildmaster NFTs are minted into circulation.
After 20 months have passed, phase two becomes active and the Vault will begin to produce rental income for the guild through the Ape Fun Arcade. Powered by the Ape Fun Token that we've been stabilizing through liquidity adds. At this point our monthly allocation of AFT has been exhausted and we will lock the liquidity pairs we do have. At this time the Banana Kingdom will be getting close to open access. Once Open Access is achieved, 2% of Banana Kingdom profits will be sent to the treasury every month. We'll also be adding liquidity to the games 6 base tokens. In short, phase two brings 3 additional passive income sources to the treasury; arcade rental income, banana kingdom income and swap/trading fee income (see below).
In phase two 20% of Treasury and Vault profits derived from asset sales, rentals, dividends and passive income sources are distributed to Guildmasters on a monthly basis. The remaining 80% is used to purchase additional assets (50%), fund development and maintenance of the Arcade (18%) and add liquidity to the games 6 base tokens (12%, across all 5 tokens) Banana, Wood, Ore, Bone, Hyde and Shard. Which will net us additional passive income, from trading and swap fees. As was the case with our AFT liquidity adds.
To become a Guildmaster you must hold one of the available 100 Guildmaster NFTs. Guildmaster NFTs will be available on Ethereum through a public sale that will take place at the end June 2022. Details/Dates TBA. Guildmaster NFTs have a max supply of 100, 4 of which are out of circulation as they're held by team members from the guild and game. No additional NFTs or positions will ever be made available in compliance with SEC laws and regulations.
Pay is issued the day after each active session closes. Distribution is executed in the Guild Hall and tied to your Discord account. You have 30 calendar days to claim it. Any unclaimed assets return to the Treasury.
Guildmasters have the larger part of any given month to pitch proposals and participate in open discussion about anything they'd like via the Guild Hall, one of 3 private Discord groups that can only be accessed by owning a Guildmaster NFT.
On the 25th and 26th days of every month, each member with a proposal for a Treasury action is allowed a 48 hour period to submit that proposal to Smash, the Guild Hall Clerk. All proposals submitted, will be added to the Pre-Session Channel - the second private Discord channel - as they are received and Guildmasters will then be able to vote on which proposals will make it to the Active Session. Only the Guild Hall Clerk can post in this Channel.
Not every Guildmaster is required to vote in pre-session but a supermajority is needed for a proposal to make it to our Active Session. A pre-session supermajority is ⌈(G+1) / 2⌉ where G is equal to the total amount of member votes cast in favor or not in favor at the close of pre-session voting. In short, a minimum of 51% of the members who voted, needed to have voted in favor for a pre-session proposal to make it to an active session.
Proposals that are approved in pre-session then go to the Active Session Channel - the third private Discord channel - for a final vote. All 100 Guildmasters are required to vote one of three ways; in favor of, not in favor of, or to abstain, from voting on the listed proposals.
For a proposal in Active Session to pass, a supermajority must vote in favor of passing the proposal. An Active Session supermajority is ⌈(G+1) / 2⌉ where G is equal to the totality of Guildmasters who did not vote to abstain. In short, 51% in-favor vs 49% not in-favor, will be needed for a vote to pass.
If an Active Session proposal is not voted on by all Guildmasters, the Active Session channel remains locked to new Guildmasters and the session remains active for existing Guildmasters until the the next Session, or until the 100th vote is casted, whichever comes first. If a vote has not been recorded by the beginning of the next Active Session, the Guild Hall Clerk will record a vote of abstinence and the proposal will then either pass or fail. Keep in mind that not voting can hold proposed Treasury actions up, for up to 30 days, which can hold up sales and ultimately hold up Guildmaster pay.
Proposals are your submissions for a Treasury action. The treasury can take 4 actions as follows:
The Treasury can sell, or list for sale any Treasury asset.
The Treasury can acquire any blockchain game asset that passes our Process of Selection's timeless test, using available funds. Available funds are any tokens (fungible tokens) that the treasury holds on the 1st of every month, that are not earmarked for Guildmaster pay. Guildmasters will have a private dashboard for this.
The Treasury can vote to move an asset to the vault for future use in the Ape Fun Arcade. Vault assets may produce dividends. Those dividends are automatically reinvested in more of the underlying game's assets which subsequently grows the vaults assets passively.
The Treasury can also put in place a bylaw. See Bylaws
All proposals that don't recommend the taking of one of these 4 actions are thrown out by the Guild Hall Clerk and don't make it to the Pre-Session.
A Guildmasters job is to keep a keen eye on budding game projects in the space and on what assets we can earn from, and what assets can be easily rented in the Arcade down the line. Assets that we add have to meet, at a bare minimum: The timeless test, have MMO elements, and a have doxxed team. Doxxed means that the projects team members are not anonymous.
Timeless game assets do two things, and they do it well:
Firstly, they allow a player holding a high-value asset, the ability to earn a compelling amount of valuable NFTs or Tokens through either active gameplay or passive/active staking. Compelling can be viewed as recouping the initial investment in a maximum of 120 days. We say "high-value asset" because if a free to play game allowed all its users to earn a good amount of valuable NFTs and Tokens with low-value assets, that game and its assets won't retain their value. We wrote about this here in the what we're about section. With that said, the ability to earn value we deem compelling, will keep a game, and its assets, timeless. Meaning the value will not erode over time.
Secondly, the game itself must have a compelling and robust progression system. Coupled with what we call an 'infinite ceiling'. An infinite ceiling is just what it sounds like, it allows for continued upward mobility in a game. A game with an infinite ceiling, coupled with a robust progression system, remains timeless. It can accommodate big spenders and high skilled players who, despite the amount of time or money spent playing the MMO, can never quite reach the top. Another version of 'infinite ceiling' can be found in our title, the Banana Kingdom. This type of infinite ceiling has a defined top that can be challenged monthly for a large reward. A robust progression system is one with a pinnacle at every level of progression. Allowing low spending and low skilled players to still achieve a version of "the top" crafted and tailored to their spending and skill class.
Note: We don't need the game to be cutting edge. Like for example; promising an augmented reality setting or console launches. We just need it to do the first 2 things. In doing these 2 things, the game is setting itself up to remain timeless, like say, League of Legends. *Tech in and of itself isn't timeless.
If the title has passed our timeless test, we've arrived at the point where we can browse the assets, looking for 2 addition distinct things. 1. Which of their high-value assets won't succumb to degradation through the raising of the ceiling. In short, what assets will always remain at the absolute ceiling in a long chain of new asset releases. Yes, this is important too. We don't want to own a level 5 legendary sword to find out later that there's a level 10 god-level sword. 2. Is it a rentable asset. And we're not looking for assets that have a built in rental feature, although that's a plus. We're looking for assets someone would enjoy renting. If a title passed our timeless test it typically means that they would. However we look at other aspects like story, immersion potential, world building and so on, and we look at this on a case by case basis, putting certain assets into rental classes. Short term rental potential (1 hour to 1 week) medium term rental potential (2-4 weeks) and long term rental potential (1-6 months).
But let's push forward. If a title fits these first 2 sets of criteria, and sub-criteria, we'll move on to the last set of criteria.
Finally, we look for games that have a budget to do all of the above over a five year timespan, with a business model that'll allow them to continue to offer an infinite ceiling. Is the game attracting potential buyers to it's future sale of high value assets? Or is it funded and incubated by a blockchain native arm of a traditional venture capital organization? If not, is the team funded by other means?
The AFG Guild Treasury - governed by AFG Guild founders and Guildmasters - is similar to our Vault in that it holds NFT and Token assets in various projects. The main difference being the treasury holds short to medium term assets and the Vault holds long term assets that will be used in the Ape Fun Arcade. Guildmasters can vote a treasury asset into the vault during any monthly session.
The treasury is funded by different means split into 2 phases. During the first phase, the treasury is funded by a 1 quadrillion token supply of Ape Fun Tokens that release monthly over 20 months. It will be made available after the Guildmaster NFT sale. The Treasury will also be supplied with a 10% supply of the 6 Banana Kingdom tokens when they launch. More on that and the vesting schedule can be found at the bottom of this page here. During this phase the treasury will also fund itself through treasury actions proposed and passed by vote in the Guild Hall.
During the second phase the treasury will be funded by both treasury actions, and by revenue generated passively through the vault, the Ape Fun Arcade, and the Banana Kingdom. Details of which can be found in the Benefits of Being a Guildmaster section.
Treasure Bylaws, governed by AFG Guild founders and Guildmasters, stipulate a set guidelines that assist Guildmasters in governing the Treasury. Guildmasters will vote quarterly on bylaws. Genesis bylaws, drafted by AFG Guild founders cannot be changed by Guildmasters.
1. An asset can only be traded up or sold if the initial investment can be recouped. A founding member can allow for the bypassing of this bylaw under extenuating circumstances. Examples of extenuating circumstances would be if a project was seemingly abandoned, adapted (leading to dilution), or in the very rare case rugpulled. Also see #8 in this list.
2. Access to the Active Session channel must remain locked during each months voting period. This is to prevent duplicate voting.
3. Guildmaster voting schedules are conducted in EST (Eastern Standard Time).
4. The monthly vesting schedule of AFT, BANANA, WOOD, ORE, BONE, HYDE, and SHARD released to the Treasury for asset acquisition cannot be changed.
5. Once an asset is moved to the Vault, it is locked until phase 2, unless an AFG Guild founding member moves it back to the Treasury.
7. Projects and titles we invest in must have a doxxed team, have MMO elements, and pass our timeless test.
8. Founding members will act as a backstop if an emergent situation should arise within any project/title we hold assets in. What that means is an AFG Guild founding member can and may liquidate an asset from either the Treasury or Vault if an emergent situation should arise in a project we hold assets in. An emergent situation could be but isn't limited to a rugpull. All proceeds from a fire-sale like this would be moved to the Treasury.