NFTs Ecosystem

This is a hypothesis of the NFT ecosystem published by Ryukyu Bingata.
Japanese page

Ryukyu Bottle Gata NFT Ecosystem

The following is a hypothetical ecosystem for increasing the value of Ryukyu Bottle Gata by selling Ryukyu Bottle Gata NFTs.
Two types of NFT to be sold in this project
  1. Original dyed NFT
  1. paper pattern NFT

Original dyed NFT

The NFTs are dyed by dropping colors onto Ryukyu Bingata stencils. It is also used for kimono and product package designs. 5.
■ Role of Honzome NFT
Honzome NFTs are rarer than katagami NFTs, which are issued in limited numbers. It is mainly sold at Foundations.
We believe that the more the NFTs are priced and distributed in the market, the more the examples of traditional crafts being converted into NFTs and sold will be exposed, and the more people will recognize and support this project.
■ Growth cycle of NFT
  1. [Pump] : Price hike becomes news, and the amount of exposure to the market increases.
  1. 【Interest】 : Users who are interested in the news will research about the project.
  1. 【notice]: The level of understanding of the project deepens, and the development of UGC products begins to be considered.
  1. 【Fan】 : NFTs and UGC goods are purchased, leading to fans and an expanding community.

Paper pattern NFT

■ The role of katagami NFT
This is the main collection to be sold in the Ryukyu Bingata NFT project. It is mainly sold at Opensea. The katagami is the design before the colors are removed and dyed, and by removing the colors from the katagami, the Ryukyu Bingata will be dyed.

Growth cycle of Ryukyu Bingata NFT

■ Value enhancement cycle as a collectible NFT.
  1. Ryukyu Bingata converts katagami into NFT and sells it as katagami NFT
  1. make NFT bin-gata stencils available to UGC (available to non-NFT holders)
  1. The value of NFT stencils will be enhanced by the creation of UGC goods using the binagata designs.
  1. incentives to purchase NFT stencils will be created as the value of NFT increases.
Expansion of the Ryukyu Bin-gata community 1.
  1. Form a Ryukyu Bingata community
  1. Consider UGC projects using traditional Japanese crafts in the community.
  1. Part of the proceeds from the sales of the stencil NFT will be used for UGC production costs, and UGC goods will be developed.
  1. produce and sell UGC goods
  1. Give back to the owners of the stencil NFTs as a token of appreciation from the sales of UGC goods.
Please refer to the related links for more information about the UGC goods and the hopes for the NFT of traditional crafts.
We envision a system in which NFT revenue is returned to the artisans via JPY through the management company.