White Paper

NFT Mineable Graphic Card Project on ChiaNetwork

Certainly, I will update the white paper based on the information you provided. Here’s the revised version:

White Paper
NFT Mineable Graphic Card Project on ChiaNetwork

Introduction

This white paper introduces an innovative project utilizing Non-Fungible Token (NFT) technology on the ChiaNetwork blockchain. The central concept of the project revolves around an initial collection of 300 NFT graphics cards, which enable their holders to mine tokens daily on the ChiaNetwork blockchain.

ChiaNetwork Blockchain

The ChiaNetwork blockchain stands out as an innovative platform, especially due to its heightened energy efficiency in comparison to traditional blockchains. With the consensus protocol termed Proof of Space and Time, the platform ensures that mining is less energy-intensive and, therefore, more eco-friendly.

Project Description

Each NFT graphics card is equipped to mine tokens on the ChiaNetwork blockchain. The project will commence with a limited set of 300 units, providing a sense of exclusivity for the holders of these cards. Over approximately three years, a cumulative total of 120,000,000 tokens will be mined.

The NFTs are uniformly distributed using MintGarden Studio. There are three distinct types of NFTs, differentiated by their background color: 270 blue, 20 purple, and 10 gold. The gold NFTs are designed to mine 20% more, while the purple NFTs mine 10% more than the blue variants.

Financing and Fees

All collected XCH (Chia Cryptocurrency) will be channeled to maintain and bolster the project’s infrastructure. If significant profits are achieved, a donation will be made to the Marmot Recovery Foundation.

A service fee of 1.5% is levied on every token mined using the NFTs. This fee ensures the sustainability and ongoing development of the project.

Mining Earnings Calculation

Based on the provided data, here are the approximate calculations for each type of NFT:

Blue:

  • First year: 649 tokens/day
  • Second year: 324.5 tokens/day
  • Third year: 216.35 tokens/day

Purple:

  • First year: 713.9 tokens/day
  • Second year: 356.95 tokens/day
  • Third year: 237.975 tokens/day

Gold:

  • First year: 778.8 tokens/day
  • Second year: 389.4 tokens/day
  • Third year: 259.6 tokens/day

These figures are based on the provided data. Actual yields may vary due to market dynamics and other influential factors.

Conclusion

This project presents a unique opportunity for participants to delve into a new form of token mining on the ChiaNetwork blockchain while capitalizing on the intrinsic value and rarity of NFTs. With the finite number of NFTs and the planned token distribution, this project aims to ensure a balanced token distribution and potential appreciation in value.