Space Knight Club NFT Project
NFTs have opened up a whole new dimension of the economy, with the unique tokens representing digital art and other media. But is this all that is to the tokens? And what about the true ownership of not only the tokens but what finances it brings to the table?
We found out Space Knight Club, an NFT platform that goes beyond just having digital art, but gives total control of 100% royalty funds to its owners, thanks to merging of NFTs with the concept of DAO (Decentralized Autonomous Organization). The Royalties generated from the sales of the platform’s NFTs go to a dedicated royalty fund, where the users can decide and control themselves on how to spend it.
What is Space Knight Club (SKC) NFT?
Space Knight Club is an NFT project where special NFT holders gain exclusive access and control over 100% of the royalty funds using a Gnosis multisig safe. It is the first NFT project that is fully DAO and is designed as a 2-layer NFT platform. The first layer is a “public” sector of the club that can be accessed by anyone having the Spacewalker NFT. The second layer is the private sector, where new members can only be selected by already existing private members.
What makes the SKC project unique is that the community is in total control of 100% of the royalty funds in a safe and secured manner. Therefore, the founding team cannot rug pull the project. Here, the community is in total control, and that’s the first of its kind in the NFT space. The idea of a DAO is to ensure the platform is decentralized without any central body controlling it. All the rules and governance are clear and available to all and are written in a smart contract.
2 Categories of Members
These are the members of the SKC community that own the project’s main NFT known as the Spacewalker NFT. The Spacewalkers submit proposals on how best to spend the royalty funds using arguably the safest and most used DAO platform called snapshot.org. Aside from submitting the proposals, Spacewalkers can also go through the proposals and upvote them.
They are members of the private club of SKC. The Knights decide the fate of any proposal that gets to the next stage. Once more than 50% of the Knights agree on a proposal, it is executed directly
How to Become A SKC Knight
To become a Knight, you have to hold the Spacewalker NFT longer than the holding period. Each Spacewalker NFT has a holding period that ranges from 30-300 days. Once you hold the NFT longer than its holding period, you become eligible to become a Knight.
Once you get accepted into the Knight membership, two things will happen:
- You become the owner of the Gnosis multisig safe that controls 100% of the royalty funds.
- You will receive a Proof-of-Knight (PoK) NFT that cannot be transferred, sold, or even bought. This means that the PoK is priceless.
With what the project already has in place, it is arguably on course to disrupt the NFT marketplace.
Decentralized Autonomous Organization
This is a true implementation of DAO as there is no single authority, not even the founders, that can take control. The community controls and decides on what to do.
Becoming a Knight isn’t easy, as we noticed. Only Spacewalkers who can prove to hold an NFT beyond a set time are only eligible – and only after the Knight members agree to admit the person. Successful admission grants an untransferable Proof of Knight NFT to the new member, unlocking special access to private channels, the ability to interact and meed Knights all over the world, and most importantly, the Knight voting and control system.
Space Knight Club shows that NFTs can be bundled with DAO to give that unique access that other projects lack. Control of the project in a democratic way, absolute ownership of the NFT (including the metadata), the art represented by the NFT, and most importantly, have a say in the future of the platform.
Space Knight ClubNFT Project