Smol Brains, Big Brain Alpha
Of all my years in crypto, the NFT space is by far the most fun I have ever had. For such complex technology it’s interesting to watch how it’s used and the communities that pop up around the underlying technology. Out of all the communities I’ve been fortunate to be a part of I don’t think any come close to how much fun I’ve had with Smol Brains.
To fully understand Smol Brains we must first go back to the beginning. For many of us who have been around the space for a while, many of you will remember Loot. Loot was the 1st text-based gaming NFT’s on the market. It basically gave the tools for developers to incorporate the text listed as in game items.
Drawing his inspiration from Loot, John Patton set out and created Treasure. Treasure gained its inspiration from Loot, but built out an entire ecosystem around text based NFT and incorporated the token $MAGIC to fuel it. Users were able to stake their Treasures (along with a few other text-based projects) to earn $MAGIC. There was one fatal flaw in the design however: the gas fees of the Ethereum network.
Sensing this major issue, the Treasure team decided to build out the ecosystem on Arbitrum. Arbitrum is a layer 2 for the Main Ethereum Network. Simply put, Arbtrium has the same security as the Ethereum MainNet for a fraction of the fees. The team then built the 1st ever NFT bridge to Arbitrum.
Users can send their MainNet NFT’s over and claim the in-game items, but they weren’t finished there. The team also built a full NFT marketplace for all Treasure Projects where Everything is paid for in $MAGIC. This sets the stage for the 1st project launched in the marketplace: Smol Brains.
Smol Brains is a project that thrives on community involvement. From the start of the project very little details were given out. From the official twitter account users were asked to enter the discord and submit a hand drawn picture of a smart ape to be entered into the whitelist. The entire project was given away for free to all users that did this step.
Users received 1 Male, 1 female and a plot of land. Land is needed to stake your monkeys to earn IQ (IQ is not a tradable token but more of a measure of how smart your monkey is). For every 50 points of IQ your smols head grows 1 size. Not only are the monkeys dynamic, the land is a well. The average IQ is taken from all smols staked. Your land will gain technological advancements if your smol is at or above the average IQ for the monkey society.
Every 10-point increase for the average results in an advancement. Smols gain IQ until max IQ is reached at 300. Monkeys can start breeding and start space exploration once max IQ is reached. Babies will be able to be sent into space to be able to gather coconuts that contain $MAGIC. But space travel is very dangerous and if you choose to go after coconuts, you may be sending your babies to an untimely demise.
One of my favorite aspects of the project is how much thought was put into the game theory. If you were to place your Smol for sale, then they would not gain IQ. So, if you let it set for too long (or bought one with a low IQ) then you may be left behind as everyone else is ready to go explore space. On top of this you may be left on the beginning plot of land whereas others have possibly discovered something new.
Since there hasn’t been much released on breeding just yet, deciding to send your monkeys out blindly may be too large of a risk for the reward. These kinds of situations make users have to make tough calls and grow attached to their smol as to not send them off into the abyss or throw caution to the wind to get some of those sweet sweet coconuts.
The team hasn’t stopped there. Smol cars along with a few other announced items are set to be given to all smol holders for free. The ethos of the project has been the same since day one. By providing value to its users, the community has grown astronomically as a result in a very short time. This community building this fast is almost unmatched. There is only a short list of projects that were able to gain this pure of a community. Some talented users are making derivatives of smols (one ended up on CNBC) as well as rugs of everyone’s favorite smiling monkey.
Since the release of the Smol Brains the price of $MAGIC has skyrocketed and the Treasure DAO has been established. The team takes no profits from smols but have chosen to push their earnings years down the road. The Treasure Dao governs the marketplace as 5% of all sales go back to the DAO. The marketplace has been extremely successful earning around 25 million in revenue when the market cap of MAGIC was around 50 million as of only a few short weeks ago.
The potential for smol brains is massive and the ecosystem around $MAGIC. Smol Bodies, legions, Seed of Life, treasures, the growth of the project along with the community has gotten the attention of one Gary Vee. Gary has talked openly about the project twice to his millions of followers. This in my opinion was a very big catalyst for the legitimacy of Smol Brains. Gray is very calculated and values his reputation more than anything else. He would not put his stamp of approval on something that would result in a scam for his followers.
For a layer 2 project to garner such interest and a community is no small feat and should be commended. The smols and surrounding projects of the ecosystem is something that I am keeping a very close eye on. Not to mention that they are planning to build an Open Sea competitor on Arbitrum as well. It truly is magical to see how hard the team is working to deliver fun to its community.
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