Dehidden from the very beginning has been working on changing the NFT space, from just digital art to complex utility assets. To achieve our goal, we’ve been tinkering and building multiple modules and products in the NFT space, that brings more purpose and use-cases to current NFTs.
In came RNA, giving us our first major project to work on, the Adidas-Prada Project.
The launch consisted of a collection of 3K community-sourced NFTs designed as tiles and 1 individual NFT, which was a patchwork of all the 3K tiles designed by renowned creative coder and digital artist, Zach Lieberman.
The project aimed to bring together participants, across design, fashion, and web3 to co-create the final large-scale artwork, while also making sure to reward the creators what they deserve. It was almost entirely community-sourced, with 3K contributors randomly selected from over 500K entries before being compiled under one mass image by Zach Lieberman.
The majority of the proceedings from the final auction were directed to Slow Factory, a non-profit institute working on creating meaningful solutions in the education sector with a heavy focus on sustainability.
Dehidden is proud of being involved in a socially impactful project of this level.
The Adidas Prada project was anything but simple. There were 2 main requirements
Stage 1: For airdropping 3000 tiles NFTs, we had to accept and choose from over 500000 entries. Not only that, there were different conditions at play, the whitelisting had to take into consideration the Adidas: Into the Metaverse NFT holders, other conditions, and just normal free entries without any conditions.
Stage 2: Two separate contracts to redistribute revenue among multiple wallet holders. One for the distribution from the primary sale/auction, and another for the distribution from the secondary sale onwards.
Stage 1: Tiles as NFTs
For the first stage, we had to airdrop 3000 tiles as NFTs to 3000 unique addresses.
The 3000 unique addresses were selected from over 500000 entries, with many conditions at play, the most notable one is the preference given to the previous Adidas Into the Metaverse NFT holders. We made the entire process fair, and smooth through our Dehidden Raffles Module.
Then we had to Airdrop the 3000 tiles NFTs to the 3000 unique addresses, without any misplaced drops or problems. We launched the airdrops using the Dehidden Airdrop modules.
What is an airdrop?
Airdrop is a distribution method for tokens/coins/NFTs for free, to numerous wallet addresses.
For the Adidas Prada project, the 3000 community-sourced tiles NFTs were airdropped to a set of whitelisted addresses.
The entire process was done through the use of the Dehidden Raffles Module:
The Raffles Module
Before the airdrop, we had to make sure that everyone gets a fair chance at competing for the 3000 community-sourced NFTs. This becomes a challenge there are over 500K entries for the 3K NFTs.
In addition, we had to include conditions that changed the preferences of some entries over others. Most notably, the previous Adidas Originals: Into the Metaverse NFT holders held the higher ground in terms of preference, and we needed to make sure this condition was applied perfectly.
The Dehidden Raffles Module gave a fair chance to all 500K entries in its randomized selection, without a speck of doubt in the fairness of the raffle.
We went through multiple approaches for making the airdrops a success, after some trials, attempts and failures, we decided that the airdrop module was the most appropriate for this project.
Once the raffle was done, we collated the addresses and NFT images. We then developed the smart contract and with the full support of the RNA team, we were able to successfully launch the airdrops.
Stage 2: The Auction
The auction of the final canvas was sold for 30 Ethereum. With 80% of the revenue allocated to Slow Factory, in addition, the Slow Factory will receive a 2.5% in perpetuity of all secondary market revenue. Since the launch, a volume of 399 Ethereum has been traded for the NFT tiles, giving them an additional 10 Ethereum, with ever more to come.
The revenue-split was the most important factor in the entire project, it made sure that all the creators of the tiles and NFTs received their due rewards, while also maintaining the specified transfer of the proceeds to the charity, The Slow Factory.
The final canvas in the picture (a patchwork of 3000 individual tile NFTS) by Zach Lieberman
The Revenue Split Module
We were tasked with making two separate revenue-split modules, one for the primary market and one for the secondary market, with different revenue-splits for each market.
There were two smart contracts in play here:
The 3000 individual tiles NFTs that were community-sourced.
The single canvas NFT that was a patchwork of the 3000 individual tiles by Zach Lieberman
The Tiles Split:
The initial airdrop to the user was through Polygon, and completely free; no gas fees for the user.
For every sale that happened after the airdrop, this was how the split looked like:
94% to the seller (the current holder)
3% to the original creator
3% to charity
The Canvas Split:
The network used for the canvas was the ETH mainnet. It was sold via auction to the highest bidder.
The revenue split happened in two modes for this, first the split of the auction price, and then the split of every sale after.
Here’s how the split looked:
The Primary split (the auction):
80% went to charity
5% went to Zach Lieberman
15% went to the individual tile creators that made up the canvas, the 3000 different wallets.
The secondary and onwards split (reselling):
90% to the seller
2.5% to charity
7.5% to the individual tile creators that made up the canvas, the 3000 different wallets.
The revenue split shows the project’s mission to facilitate better education while also giving the creators the rewards they deserve.
Building the first of its kind revenue split module was a big take for Dehidden, with a successful ending.
The Adidas-Prada project proves that NFTs are more than just digital art. They brought together people from across the world, in various backgrounds, contributing to a single cause, that will forever provide value and funding to building a better world for all of us.
The funding received will be used in providing free and accessible education programs focused on sustainability, equity, climate justice, human rights, and more.
With Slow Factory receiving 2.5% in perpetuity for each NFT sale, this project will forever contribute to the betterment of the world through SLow Factory’s programs.
We started Dehidden with a goal to prove that NFTs are much more complex than just digital art. The utilities, functions, communities that they bring together provide infinite possibilities to their usage, and we aim to make those possibilities accessible to all creators.
After all that, at the end of the day, we’re glad to be at the heart of a project with a permanent and perpetual social impact like never before.
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Till next time,