These are the unique non-fungible tokens of our ecosystem that serve many purposes from representation, to access, game assets, and more. NFTs add a dynamic layer of creativity and commerce to Totem.
Lifecycle of an NFT in the Totem Ecosystem
Step 1:NFTs are generated
NFTs can be generated in multiple ways: By AXIS, users, and the ecosystem.
Once generated, Every NFT has a unique ID. NFTs exist in groups of limited supply and have attributes that define rarity.
Step 2: NFTs are obtained
NFTs can be obtained in multiple ways:
Purchase: Citizens (and in some cases, non-citizens) can spend currency to acquire an NFT in the marketplace or minting through the Obtain tool.
Take action: Certain actions in different AXIS can lead to users obtaining NFTs. The supply of these will be limited, to guard against inflation.
Airdrop: Certain citizens who have NFTs already, may receive additional NFTs suddenly.
Step 3: NFTs are held, staked, or traded
Held: NFTs can be held in a wallet or owned forever. A held NFT can be displayed in various parts of Totem, such as cosmetic NFTs inside Totem XR. Some held NFTs can be used to grant access to an AXIS, gameplay features, or governance.
Staked: An NFT can be staked by itself or in combination with $CTZN for an agreed amount of time, to generate rewards or grant access.
Traded: Citizens can trade NFTs with each other as desired.
Rented: Lease your NFT to other Citizens, or rent an NFT for a short period of time to gain access to all of that tokens perks and features.
Step 4: NFTs are mutated or forged
In some cases NFTs can be altered to increase their value. For example, NFTs can be combined with $CTZN in certain cases to forge, or generate a physical artifact, of that NFT.
Step 5: NFTs (possibly) generate other NFTs
In some cases, potentially related to the last step, NFTs will be able to generate another NFT - such as breeding and fractionalizing.
How does this work in practice?
Citizens only need one of these to gain entry to the corresponding Axis. The first Axis will be XOiDs, so we will use them as an example here.
Generated: They can be infinite in supply, or limited depending on the design.
XOiDS are an AXIS token that is limited. These are generated by the Totem team. Each has unique gender and characteristics, which define its rarity.
Some AXIS tokens may offer an unlimited supply as to not limit the size of the community
Purchased: Citizens can purchase any AXIS token with $CTZN.
Infinite: Can purchase them at any time.
Limited: Citizens must fulfill certain conditions or purchase it from a specific marketplace.
XOiDs can be purchased from the Totem marketplace.
Held: If held, they can be displayed.
Staked: XOids can be staked for social missions in the XOiD AXIS.
Mutated: XOiDs can be mutated by acquiring resources in XOiD XR and then combining them with the XOiD.
Generate new: Citizens can breed new XOiDs by acquiring all 3 Genders and certain items.
NFTs of Totem’s Future
As more AXIS are created, their functionality will deepen. Community owners will be able to create their own NFTs with custom smart contracts. The Guide tool will allow coaches and teachers to offer monthly subscription NFTs to their community members in exchange for knowledge and guidance.
As we activate the AR side of our metaverse, NFTs can be forged from real world objects and transferred between marketplaces and the Metaverse - unlocking a whole new economy.