Tour Opening Ceremony and Shenanigan Challenges (MATTER NFTs)
Lap 1
Tour De Particle Opening Ceremony
Welcome racers, to the beginning of the great Tour De Particle. This tour will be a series of blogposts written by the Shenanigan core team detailing out the intricacies of Shenanigan Dathletes, Fan tokens, Fan Clubs, and other use cases. We intend to release these posts on a biweekly basis, so stay tuned every other week for more revelation about what SHE has planned for the future of athletes. This is a followup series to our post SHE Teaches You About Dathletes which goes over the Dathlete model in very broad terms. Check it out if you haven’t yet!
With that, let’s begin right away with the first lap, Challenges
Challenges are Goals
One thing all great athletes have in common is they are excellent goal setters. Whether it be Tony Hawk doing the first McTwist, or Micael Phelps winning 23 gold medals. Athletes set a bar, and reach it, no matter what. This paradigm is natively supported by the Shenanigan platform through Challenges. A challenge is any action with multiple possible outcomes e.g. doing a kickflip or climbing a rock wall. If the action can be broken down into success or failure, then it can be considered a challenge. Shenanigan allows athletes to create challenges for themselves and mint them directly to the blockchain.
Shenanigan requires physical proof that a challenge has been completed. Shenanigan offers a LivePeer Livestream to act as a proof for completed challenges. The livestream is saved to ipfs and Shenanigan users vote on whether or not the Challenge was a success or failure. Read more about how the vote works in this tweet.
Tokenize Action
So now that we have these amazing athletic feats on the blockchain, what can we do with them? We can collect them of course! Shenanigan takes the challenge information, athlete address, livestream, and results and wraps them into an ERC1155 token, called a MATTER.
MATTER act as a historical ledger of attempts for a challenge. If a skateboarder fails his trick 3 times then succeeds the 4th, all four attempts are tokenized and serialized on the blockchain. MATTER can be sold on any market that accept ERC1155 tokens, such as OpenSea or the Shenanigan in-app market.
Athlete Incentive and Challenge Escrow
Athletes don’t always succeed the first time. Anyone that’s watched a skateboarder hurl himself off a rail or a gymnast fall on their face knows that. Shenanigan has incentivizes for them to get back up and try again. We do that by escrowing earned funds. There are two ways athletes generate funds to support their challenges, Donations and Prediction Markets (Note: These funds do not include money generated from selling the MATTER itself). Since the Prediction Market is a Shenanigan v2 feature, we will only be focusing on Donations in this post.
Once an athlete sets a challenge, the Challenge smart contract is open to garner donations from fans. However, the only way for athletes to receive the donations is by accomplishing the challenge. If they fail, the donations are escrowed until the athlete makes another attempt. Top donators receive perks from the athlete, such as early access to MATTER, FAN tokens (outlined in the next post), and special privileges. Fans can remove their donations at any time, if the athlete has proven to be inconsistent or undesirable.
Collectibles
Shenanigan is inspired by the baseball cards of the 1980s. Cards are bought at astronomical prices even today, such as this rookie card for the Los Angeles Angels superstar Mike Trout, which sold for close to $4 million. Shenanigan wants to return ownership of the actions back to the athletes that did them. Athletes spend every waking minute training to improve. The content is there. The market is there. All that is left is for SHE to be there.
-Victor (YoungKidWarrior)