FAQ
Where can I learn more about UNDRGRND?
The road to this point has been a long one. It started here, had some setbacks, but #tezpole lit a fire in me that resonated with a lot of you. So now we’re here, and I’ve been doing interviews, explaining this token I had made, and what I wanted to try to do differently distributing it. I took the UNDRGRND Twitter account private so I could share the vision with people who support this and it was a lot.
And now, you can be a part of it, too.
What does UNDRGRND do?
Primarily UNDRGRND functions as a publication and media company focusing on the smaller and yet-to-be-discovered artists in web3. We purchase art from those artists we feature in UNDRGRND DIGS and then offer to feature them in the exclusive drops that we distribute to our community members.
Am I UNDRGRND?
I used to stress about this when I was a teenager, whether I was part of the underground scene. It wasn’t until i came here that people much wiser than me made me realize that being underground isn’t anything more than not fitting in to the mainstream. So if you’re here, yea you are.
What is $GRND?
Pronounced like “ground” (but acceptable to pronounce as “grind” since that’s what we all do) is the utility token of the UNDRGRND ecosystem. It is used as a reward to incentivize engagement with UNDRGRND content but will primarily be used with Dig It.
What is Dig It?
Dig It is a gamified curation tool that rewards users the more they engage with the marketplace. On the future UNDRGRND Marketplace, any users holding $GRND can bid for spots on the front page to feature any creation. This gives the power to curate and influence to the community members that work tirelessly to uplift those still waiting to be seen.
What do you mean by “incentivized engagement”?
Maybe engagement rewards would make more sense. Everyone in this space helps build it. Any time you like an artist’s post, comment something thoughtful and engaging, that builds community; you should be rewarded as such. UNDRGRND uses $GRND to reward community members for sharing posts, engaging with content and other tasks to give community members rewards for their efforts.
What dApp will you use for the DAO?
The end goal is a partnership months in the making with Network State Protocol. Network State Protocol provides the necessary tools to provide transparency and manage the UNDRGRND DAO. It allows DAOs to interact and engage in mutually beneficial support. The first DAOs currently onboarding to Network State Protocol are focused on live music entertainment. Other DAO toolkits will be considered based on needs and timelines (e.g. Hypha Earth)
Can I buy multiple cards?
There is no limit to how many cards any individual may buy.
How do I claim my 5,000,000 $GRND?
We will run a report and airdrop the tokens to the wallets holding the membership cards. This will be completed prior to the public sale on February 19th and then on rolling basis as needed.
Do I get more revenue share if I buy more cards? Drops?
Any perks offered to an individual card are multiplied when holding more than 1 card. If you have 3 UNDRGRND Membership Cards, you will be able to claim 15,000,000 $GRND (3 x 5,000,000 = 15,000,000). It will increase your chance for receiving exclusive drops and any future perks that the DAO decides to afford its holders.
What about more DAO votes?
One of the benefits of Network State Protocol is verifying identity. UNDRGRND will work on a 1 person = 1 vote system.
How much is $GRND worth?
Nothing. It’s completely worthless. It’s why I have worked so hard to create use cases for it. That is where the value lies. The number attached to it will be whatever the market decides. Some people will be concerned about the price action, but UNDRGRND will not rely on it to become successful.
How will you help other communities?
There are a variety of ways we can work with existing communities (and already are). Helping create awareness, featuring artists from other communities, collective events, token liquidity pools, sharing artist information. If there is a community that has an idea to work with UNDRGRND, we are open to discuss. This works better when we work together.
What chain will the marketplace be built on?
The UNDRGRND marketplace has always been intended to be multi-chain. It will be developed with this in mind. Many factors will determine where it launches first but the goal is for UNDRGRND to be built for EOS, Polygon, Ethereum, Avalanche & Solona.
Why not Tezos?
There is a thriving community on Tezos but many people do not know. Rather than take anything away from our friends doing similarly amazing things, we would rather continue to support them and allow them to shine while UNDRGRND begins to lay the foundation for others to become multi-chain along with us.
Are you done on Tezos?
Never. There are so many friends and communities that we will continue to work with in the Tezos ecosystem. The DAO will continue to support the Tezos ecosystem through featuring artists, events and purchasing work.
Who are you competing with? Teia? OBJKT?
D. None of the above. We have very strong friendships with these marketplaces (and others). What they are trying to accomplish, along with the more premiere marketplaces, is not where UNDRGRND intends to go. If anything, they are our allies and future partners that we can hand our artists off to with a proper support system and audience.
What about the Tezos UNDRGRND Membership card? Other chains?
There is a plan for these cards being refined to ensure they are not devalued or discontinued. Holders of chain specific membership cards from the past (Tezos, EOS, Wax) will receive an allotment of $GRND.
Are you going to take all our money?
Yes.
You’re lining your own pockets and rugging!
Honsetly, money makes me uncomfortable. Which is why I’m much happier giving it away to others. I never wanted to crowd fund the marketplace or UNDRGRND in general. I wanted to take money from the large foundations and venture capital firms and pump into the ecosystem at the bottom. None of them understood what I’m trying to do (or wanted to). Which is why I’m offering all of this to everyone. I intend to work myself out of a job and then hand it off to those more qualified but as passionate as me. This is bigger than just one person.
How will revenue be distributed to cardholders?
I imagine it as either a quarterly gated site where holders can claim their distributed amount, or donate it to the DAO.
Isn’t this a security because of the revenue sharing?
It’s not because I’m not offering it. Nothing is agreed upon. It may not happen. We have to have faith in other people that if the DAO is established and if I make a convincing argument, that everyone will agree it is a feasible idea. It’s a chance I’m willing take.
Why would you even offer it as an option?
It’s crazy, I know. But how many stories do we hear of artists supporting artists after they make a sale? If I gave all the money in my pocket to someone like you, who’s taken the time to read this, what would you do with it? Spend it on yourself or help others survive? At the very least both? I’m counting on the goodness in others to do the same. I know this can work.
Is this a scam?
If it is, it’s the absolute worse scam of all time where I stand to make absolutely no money.
Is the marketplace ready to go?
We have received quotes from experienced, professional developers DLTx. As soon as I am able to pay them, we will begin development of the beta and begin onboarding users. As we progress I will use other developers like the team at Facings to develop other aspects of the UNDRGRND ecosystem as well as continue to work with Nalikes Studio who helped launch the mint site and $GRND.
Will this sell out?
I don’t know. If it does, it’s because all of your helped.
What happens if it doesn’t sell out?
I have to go back to work and get a real job. Then I continue to work on UNDRGRND on the weekends and during the summer (I’m a teacher). UNDRGRND continues to exist even if this doesn’t sell out. Just at a smaller scale.
Why will the sale be paused at 2500?
A few reasons. The first, I will do an airdrop to anyone who filled our the distribution form by February 15th of 250,000 $GRND. I will also allow the current cardholders at this point to determine what to do with the remaining amount of cards. A 50% sale, whether fast or slow, gets everything I’ve listed above or in any of the information I’ve provided. It’s that other 50% that gets us the things I’m really excited about: music and film.