Checks
The finest game theoretic setup to date
At this point you've probably heard of #ChecksVV, @jackbutcher (@visualizevalue)'s homage collection to @elonmusk's $8 @twittercheckmark initiative.
Read along and enjoy this quick review on why I think it achieved PMF & and a synthesis of the best tweets and derivatives to date.
It all started with this tweet. The announcement phrase itself has already been heavily memefied.
For starters, the art has a nice aesthetic, not surprising coming from Jack. Turns out there's something special about the 80 check layout that has caused it to take fire as a meme. Just some examples of the art that has come out. Even @squiggleDAO & @nounsdao derivatives.
As my friend @JackieMoooon said, it emits Warhol tomato soup vibes a bit.
The collection was launched as a timed open edition, mintable for 24 hours. @jackbutcher himself was surprised by how well it was received; over 16,000 editions were minted at $8 a pop.
Jack has hinted that at launch he had cloudy extension mechanics in mind, but at first, minters thought that they were simply minting identical artwork. Popular mint seems to have jolted jack quickly into an idea and tweet storm. He's been designing and building heavily since.
The superb token dynamics bring an unmatched game theoretic setup that has his old and new audience on the edge of their seats. Here's how it will (roughly) work: Every edition minted can be burned for an 80-check unique original. Then burn 2 originals for a 40-check piece...
Then 2 40-checks for a 20-check...
2 20-checks for a 10-check...
2 10-checks for a 5-check...
2 5-checks for a 4-check...
2 4-checks for a 1-check.
80 > 80 > 40 > 20 > 10 > 5 > 4 > 1
All in all, you need 64 editions to burn all the way down to a 1-check unique piece. Since there are only a bit over 16,000 editions, the cap on 1-checks that could ever exist is only 250 NFTs.
Here's a sneak peak at what the different N-checks will look like.
Here's where it gets more interesting. There will be the possibility to burn 64 1-checks to mint a black God 1-check. If you do the math, it comes out to 4,096 editions needed to get all the way down to a black check. Which means that the cap on supply of black checks is only 3.
I already know some are watering at the possibility of rocking a black check pfp on twitter, bringing this whole concept full circle Thing is, the more editions are burned, overall supply goes down, which make it more and more expensive to get your hands on enough to get there.
IF a black check is ever born, it'll likely be born within a DAO of 1-check holders. There's also the concept of a semiperfect set of Checks, born from the fact that 80 is a semiperfect number, meaning it is the sum of a subset of its divisors (40, 20, 10, 5, 4, 1).
To complete a semiperfect set you need 128 editions to burn down to a:
1-check
4-check
5-check
10-check
20-check
40-check
80-check original
80-check edition
Dynamic when you burn two parents for a child: Interesting thing is u choose which token id you wish to inherit. This is why I've made some bets on not only securing some sets but also a low token id. I wouldn't want my 1-check to have a non-dope id.
Here's where we're at now. Visit my full twitter thread for some of the best tweets and literature on Checks, or join the fresh discord that's already been cooking up some DAO concepts.
