Creator โข Crypto & Web3 ๐ โข Football & FPL โฝ๏ธ I just tweet things tbh.
Earth ๐ฃ
Joined July 2020
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Bright ๐๐ retweeted
an nft project can have good technology, but what really matters is what holders get beyond the mint.
with @FungoLabs, the Genesis collection is also the starting point for a wider encrypted NFT ecosystem.
the roadmap includes a Launchpad where other projects can launch encrypted NFTs on Ethereum, followed by a game built around Genesis NFT traits.
Fungo has also outlined ways Genesis holders could benefit from this ecosystem.
according to its announcement, 20% of Launchpad revenue will go into a pool shared equally among all 3,232 Genesis NFTs.
holders can claim their share in ETH, ZAMA and tokens from collections launched on the platform.
each collection launched on the Launchpad will also allocate at least 5% of its token supply to Genesis holders, with the share potentially reaching 20%.
Fungo has further allocated 36% of its 10 billion FUNGO supply to Genesis holders, giving each NFT 1,113,861 $FUNGO at TGE.
holders will have seven days to claim, with unclaimed tokens burned. they can choose between regular FUNGO and cFUNGO.
these are announced plans, not guaranteed income.
the revenue share depends on the Launchpad attracting projects and generating revenue, and the token allocation doesnโt guarantee market value.
GM CT!
yesterday, we explored the core ideas behind FungoLabs. if you missed it, check the link in the comments.
now, letโs take a closer look at how the FungoLabs Genesis Mint works.
Most nft auctions allow participants to see what others are bidding, and that can influence how much someone decides to offer.
you might enter with a price in mind, but after seeing someone elseโs bid, you start wondering if you should go higher, wait or stick to your original offer.
@FungoLabs is taking a different approach with its Genesis sale through a sealed-bid auction.
bidders use cZAMA to choose how much theyโre willing to pay and how many NFTs they want.
however, both details remain encrypted while bidding is open, so you canโt see what others are offering or adjust your bid based on theirs.
๐ฏ๐๐ ๐ต๐ผ๐ ๐ฑ๐ผ๐ฒ๐ ๐๐ต๐ฒ ๐ฎ๐๐ฐ๐๐ถ๐ผ๐ป ๐ฑ๐ฒ๐ฐ๐ถ๐ฑ๐ฒ ๐๐ต๐ผ ๐ด๐ฒ๐๐ ๐ฎ๐ป ๐ก๐๐ง?
once bidding closes, the bids are revealed and ranked from highest to lowest.
the lowest winning bid that fills the available 2,500 NFTs determines the final price.
all successful bidders pay that same price, and any excess cZAMA is refunded.
Bright ๐๐ retweeted
As you continue making your posts
please donโt forget to link your wallet on the @FungoLabs website
How much are you planning to bid for the Genesis NFT tomorrow?
Iโll be bidding 80K ZAMA. ๐
Tomorrow is Mint Day
which means the token launch could happen anytime from tomorrow onward
We now have 8,500 registered accounts
The big question is
Do you think youโll be eligible?
Bright ๐๐ retweeted
NFTs have always been big on transparency, but I think privacy is one area that deserves more attention.
With most NFTs, anyone can view the artwork, traits and metadata once they are minted.
But what if owners had a choice about what others could see?
Thatโs the idea behind @FungoLabs
Fungo is bringing encrypted NFTs to Ethereum using Fully Homomorphic Encryption (FHE), powered by @zama.
This means holders can keep their NFT artwork hidden and decide when to reveal it, while its underlying data stays encrypted.
Itโs an interesting way to approach digital collectibles.
Privacy could bring a whole new set of possibilities to NFTs, and Fungo is definitely worth watching.
Bright ๐๐ retweeted
the @FungoLabs genesis NFT mint goes live on november 5
500 NFTs will be free for WL holders, while the remaining 2,500 will be sold through a sealed-bid auction powered by @Zama's tech
here's what you need to know:
ยซ bids are placed in cZAMA, with both the bid price and quantity kept encrypted throughout the auctionยป
ยซ the lowest successful bid sets the final price
ยซ bidders who bid above the final price receive their requested allocation, while those at the clearing price share the remaining NFTsยป
ยซ bids below the final price are fully refundedยป
note: bids cannot be withdrawn, so think carefully before placing yours
the @FungoLabs genesis nft mint goes live on November 5 and there are 3,000 nfts up for grabs
โ 500 are reserved for whitelist holders
โ the remaining 2,500 will be sold through a sealed-bid auction
you'll submit how much you're willing to pay and how many NFTs you want using cZAMA. your bid stays hidden until the auction ends
once bidding closes, the bids are ranked and the 2,500th winning bid sets the final price. everyone who wins pays the same price and any excess cZAMA is refunded
one thing to keep in mind: bids are binding, so you can't cancel once submitted. there's also a small non-refundable encryption fee per bid.
Bright ๐๐ retweeted
From the streets to the markets, from the Cyclists' Park to the heart of Uyo!
We took GAMDOM beyond the screen and straight to the people of Akwa Ibom! The energy, the love, the smiles, and the excitement were on another level! โค๏ธ
Flyers in the air, smiles everywhere, and one name echoing through the streetsโฆ GAMDOM!
This is more than just a crypto casino platform. GAMDOM IS A MOVEMENT!
And trust me, this journey is only getting started.
More cities, more faces, and more unforgettable moments!
GAMDOM is the platform. STEVE is the code! ๐
Uyo showed up, and the love was REAL! โค๏ธ
We love @gamdom
we love @stevewilldoit
#Gamdom100kRound2
Bright ๐๐ retweeted
the @FungoLabs genesis nft mint goes live tomorrow and itโs going to be a bidding process.
hereโs how it works ๐
there are 3,000 nfts up for grabs:
- 500 free mints for whitelist holders
- 2,500 through a sealed-bid auction
so, what is a sealed-bid auction?
think of it as putting your offer in a closed envelope. nobody gets to see what others are bidding.
youโll bid in cZAMA (zamaโs encrypted token) and choose two things:
- how much youโre willing to pay per nft
- how many nfts you want
others can only see that you placed a bid, when you placed it, and the number of bids. your actual offer stays hidden.
how is the final price decided?
once the auction ends, all bids are revealed and ranked from highest to lowest.
the bid that fills the 2,500th nft sets the final price.
everyone who wins pays the same price, and any extra cZAMA is refunded.
what happens to your bid?
- bid above the final price: you get all the nfts you requested.
- bid at the final price: you share the remaining nfts based on how much everyone requested.
- bid below the final price: you get nothing, and your cZAMA is returned.
a few things to know before bidding:
- bids are binding. you canโt cancel them.
- each bid comes with a small, non-refundable encryption fee.
- if demand is below 2,500 nfts, everyone pays the lowest bid price.
- nfts are minted sealed, and you decide who gets to see whatโs inside.
- each nft holders get 1,113,861 $FUNGO token at TGE.
thatโs pretty much everything you need to know before the mint.
goodluck boys !
Bright ๐๐ retweeted
have you tried @getparagonapp yet?
whatโs your experience as a user so farโฆ..
from referrals earnings to competitive rates, lesser transactional fees, earning vouchers for hitting trading milestones and lots more to explore
If you are a user, what feature do you think the team should improve or add nextโฆ.Kindly share in CS
those ready to explore today
download app ๐ onelink.to/qnzrub
use my code: YVNGJAY
itโs a new month and i needed to sort some bills today
used @getparagonapp to convert my crypto to naira, app was fast and seamless
iโve been using paragon app to convert my crypto to Naira, and the experience has been really smooth.
The process is pretty straightforward:
โ download the Paragon app ๐ onelink.to/qnzrub
โ use my code: YVNGJAY
โ fund your wallet with crypto
โ your funds are automatically converted to Naira.
you can download the app, set up your account, and give it a try whenever youโre ready.
Definitely worth checking out. ๐ค
Bright ๐๐ retweeted
nfts, but this time with privacy built in.
until now, nfts have largely been transparent by default.
anyone can inspect their traits, rarity and underlying info, which isnโt ideal for games and apps where certain details should remain private.
@FungoLabs is doing something different with encrypted nfts.
built using zamaโs fhe tech, fungo allows nfts to function onchain while keeping their hidden info encrypted.
holders can own, transfer and interact with their nfts without exposing everything to the public.
i like the direction here bcos privacy shouldnโt have to come at the expense of functionality.
and fungo isnโt stopping at its genesis collection.
the bigger plan is to build a launchpad where other projects can create & launch their own encrypted nft collections.
if it succeeds, fungo could become an important piece of infra for the privacy-focused nft ecosystem.
their genesis nft mint goes live tomorrow, will you be there?
Bright ๐๐ retweeted
if you read through the details about @FungoLabs sealed bid auction and still didnโt understand anythingโฆ itโs okay
i didnโt get it at first either lol, let me break it down properly
imagine youโre willing to spend up to 15,000 cZAMA to get one genesis nft
you place your bid, but you have no idea what everyone else is offering
when the auction ends, fungolabs compares all the bids to figure out the final price
letโs say you bid 15,000 cZAMA and someone else bids 10,000 cZAMA, and 10,000 ends up being the lowest winning price
you get the nft, but only pay 10,000 cZAMAโฆ the extra 5,000 goes back to you
but if you had bid 8,000 cZAMA, you wouldnโt get the nft because your offer was below the final price, your bid amount would be refunded
so basically, you set the maximum amount youโre willing to pay, but you could end up spending less
just remember, you canโt cancel your bid once itโs placed, and thereโs a small fee you wonโt get back
good luck if youโre participating
btw @FungoLabs genesis mint is happening on the 5th of november, but iโm sure you know that already
those who got a genesis wl will be able to mint for free, only paying a small gas fee
there will be 500 free mint spots for wl holders, followed by a public sale of 2,500 NFTs through an auction
for the auction, you choose how much youโre willing to pay per nft and how many you want, but other bidders canโt see your price or quantity while bidding is open
once bidding ends, the highest bids get the NFTs, and the lowest successful bid determines the price everyone pays
so even if you bid higher, you only pay the final price and get the extra refunded
just keep in mind, bids canโt be cancelled once placed so choose your price carefully
are you ready to max bid? ๐
Bright ๐๐ retweeted
i really love how @FungoLabs is handling their upcoming genesis nft sale
the interesting thing about the auction is that the highest bidder doesnt have to pay the highest price
let's say 6 nfts are available and 7 people place bids
the 6 highest bidders win, but every winner pays the exact same final price-: the lowest winning bid
for example, someone who bids 5,000 cZAMA could end up paying only 1,500 cZAMA if that's where the lowest winning bid lands
the 7th person who missed out gets a full refund on their bid
the key takeaway-: bid what you are comfortable with....all winning bidders pay the exact same clearing price regardless of how high their initial bid was
the @Fungolabs genesis nft mint is on november 5, with 500 free nfts for wl holders, followed by 2500 nfts through a sealed-bid auction powered by zamas tek
things you need to know:
> bids are placed in czama, while the price and quantity remain encrypted during the auction
> the lowest winning bid determines the final price
> higher bids receive their requested allocation, while bids at clearing price share the remaining nfts
> bids below the final price will be fully refunded
note: bids cannot be withdrawn, so think carefully before bidding
the @FungoLabs genesis nft mint goes live tomorrow and itโs going to be a bidding process.
hereโs how it works ๐
there are 3,000 nfts up for grabs:
- 500 free mints for whitelist holders
- 2,500 through a sealed-bid auction
so, what is a sealed-bid auction?
think of it as putting your offer in a closed envelope. nobody gets to see what others are bidding.
youโll bid in cZAMA (zamaโs encrypted token) and choose two things:
- how much youโre willing to pay per nft
- how many nfts you want
others can only see that you placed a bid, when you placed it, and the number of bids. your actual offer stays hidden.
how is the final price decided?
once the auction ends, all bids are revealed and ranked from highest to lowest.
the bid that fills the 2,500th nft sets the final price.
everyone who wins pays the same price, and any extra cZAMA is refunded.
what happens to your bid?
- bid above the final price: you get all the nfts you requested.
- bid at the final price: you share the remaining nfts based on how much everyone requested.
- bid below the final price: you get nothing, and your cZAMA is returned.
a few things to know before bidding:
- bids are binding. you canโt cancel them.
- each bid comes with a small, non-refundable encryption fee.
- if demand is below 2,500 nfts, everyone pays the lowest bid price.
- nfts are minted sealed, and you decide who gets to see whatโs inside.
- each nft holders get 1,113,861 $FUNGO token at TGE.
thatโs pretty much everything you need to know before the mint.
goodluck boys !
for more information, check out this tweet from @FungoLabs
! teapaw.org/fungolabs/status/21176โฆ
How the Genesis sealed-bid auction works, explained with an example ๐
Imagine only 3 NFTs for sale. Minimum price: 500 cZAMA (example only).
4 people bid 1 NFT each:
โ A: 3,000
โ B: 1,500
โ C: 1,000
โ D: 500 (the minimum)
The top 3 bids win: A, B and C.
All winners pay the same final price, the lowest winning bid: 1,000.
โ A pays 1,000, gets 2,000 back.
โ B pays 1,000, gets 500 back.
โ C pays 1,000.
โ D bid the minimum, gets no NFT, gets 500 back.
Lesson: bidding the minimum doesn't mean you buy at the minimum. Bid what it's worth to you, you'll only pay the final price.
Bright ๐๐ retweeted
Light dinner money
Drop naira acct in the comment let me share the tithe to 5 people
Bright ๐๐ retweeted
FungoLabs Genesis NFTs mint on Nov 5
Here's exactly how the bidding works๐ป
There are 3,000 NFTs:
โ 500 free mint for whitelist
โ 2,500 sold through a sealed-bid auction
What's a sealed-bid auction?
This is the same like dropping your offer in a closed envelope
You bid in cZAMA (the encrypted version of Zama's token) and choose 2 things:
โ your price per NFT
โ how many NFTs you want
People can only see that you bid, when you bid, and how many bids exist. Not how much.
How the price is set:
When the sale ends, all bids are revealed and ranked from highest to lowest
The bid that fills the 2500th NFT becomes the final price.
EVERYONE who wins pays that same price
Extra cZAMA gets refunded.
How The Bid Is?
โ Bid above the final price = you get all the NFTs you asked for
โ Bid exactly the final price = you share the remaining NFTs pro rata (split fairly by how many you asked for)
โ Bid below = no NFT, your cZAMA comes back
Example (final price = 10,000 cZAMA):
โ A bids 15,000 for 3 NFTs: gets 3, pays 30,000, gets 15,000 back
โ B bids 10,000 for 2: gets a share of what's left
โ C bids 8,000 for 1: gets nothing, 8,000 refunded
Know this before you bid:
โ Bids are binding. No cancelling
โ Each bid has a small non-refundable fee for the encryption
โ If demand is below 2500 NFTs, everyone pays the lowest bid price
โ NFTs mint sealed. You decide who gets to see inside
Goodluck
Bright ๐๐ retweeted
the @FungoLabs genesis nft mint goes live on November 5 and there are 3,000 nfts up for grabs
โ 500 are reserved for whitelist holders
โ the remaining 2,500 will be sold through a sealed-bid auction
you'll submit how much you're willing to pay and how many NFTs you want using cZAMA. your bid stays hidden until the auction ends
once bidding closes, the bids are ranked and the 2,500th winning bid sets the final price. everyone who wins pays the same price and any excess cZAMA is refunded
one thing to keep in mind: bids are binding, so you can't cancel once submitted. there's also a small non-refundable encryption fee per bid.
