Amid the rise of the crypto writer in the book world, The Quest of Evolution offers a unique “Write to Earn” method where anyone can participate without the need for voting or DAO participation.
Literary NFT projects like The Quest of Evolution are revolutionizing and rewriting the Web3 publishing narrative. The platform is targeted towards true artists and provides them with a means to earn income from their creative works.
When NFTs or non-fungible tokens flooded the internet, there was no place for writers to experiment with form, publish and earn money directly and instantly without any traditional publishing gatekeepers.
Literary NFTs allow writers the ability of limitless exploring their creation without worrying about publishers’ opinions. Also, it’s not hard to make sense of what the NFT creative space might mean for otherwise underpaid writers.
With NFTs, there are loads of new ways for writers to get their work out into the wider world. Let’s take a look at The Quest of Evolution!
What Is The Quest of Evolution?
The Quest of Evolution is a decentralized collaborative framework where artists can create value together and reap the benefits, while perpetually donating to social causes.
It induces and collects artistic collaborations to create masterpieces that have monetization value to third-party licenses in large industries like film, merchandise, and gaming.
The platform is a revolutionary reinvention of the creative process that breaks away from conventional methods.
The Quest of Evolution seeks to empower all struggling artists by providing them with a means to create moving IP vessels that gain value through collaboration and hold greater licensing value across other major industries such as film, merchandise, publishing, gaming, and the metaverse.
The profits and gains generated will benefit the entire community of creatives, as opposed to a small group of executives and investors as is often the case in traditional industries.
Many concerns about technology negatively affecting younger generations and bringing them away from traditionally valuable experiences, such as reading a book.
However, walking through some of the last century’s technological leaps with computers, video games, and social media, you can see that they have also catapulted innovation and collaboration between people across the globe.
By combining advanced blockchain NFT technology with the simple beauty of writing a story, The Quest of Evolution makes a new launchpad for writers and artists.
Crypto-Novels
The MVP, a framework called “Crypto-Novels,” is the first of their collaborative frameworks, which is a collection of Write-2-Earn multimedia NFTs that allows users to add text to ongoing storylines in exchange for royalties and tokens.
Each Crypto-Novel is composed of a scarce collection of NFTs designed, scored, and written by a distinctive combination of artists, known as ‘Architects’.
The collection of unique multimedia NFTs that are composed of visual art, a soundtrack, and an initial paragraph, all known as “sparks.” There’s a particular social cause and charity is assigned to each novel before launching.
Not only that, the opening paragraph to every NFT, known as ‘Spark Verses’ written by an ‘Architect’, is also created to plant an underlying theme that inspires and creates coherence to collaborations.
Then, the Crypto-Novel will become a vessel of Intellectual Property Rights that packages contributions from people around the world.
Four variable writing parameters structure contributions within Crypto-Novels which can be used individually in combinations.
Here they are:
Infinite: Entry to an NFT and create a never-ending story.
Finite: A limited number of entries per NFT rounding off the story.
Chain: Not being able to an NFT chapter until the previous finite story is completed.
Editions: Several, but limited, copies of each NFT.
How The Quest of Evolution Works
When you purchase these NFTs, you can log into the website using their MetaMask wallet and add a set amount of words to the ongoing text of that specific NFT. This creates a living NFT that is constantly evolving and rewarding contributors of the user.
When you contribute to the text of an NFT to become a contributor, you will have access to a share of a global royalty pool that collects 10% from every NFT sale in the ecosystem.
You also earn access to a bonus royalty pool that will pay them directly if the rights to that novel are licensed to third parties.
In addition, you are also rewarded with 200 $QEV tokens, which offer DAO membership, rewards from the profitability of licensing IPRs, and other perks in The Quest of Evolution ecosystem.
A contributor is also granted access to gated Discord channels with every stakeholder of that novel, including the architects. This is a unique value proposition to get closer to your fans.
Then, you can resell the NFT for the next user to add to the ongoing text.
The Quest of Evolution deploys its Smart Contracts on the Moonbeam Network, a Polkadot smart contract parachain. Therefore, royalties will be paid out in GLMR (Glimmer), Moonbeam’s native utility token.
To redeem your Royalties $GLMR as well as your $QEV tokens, you’ll need to log in to your crypto wallet, then the asset will be delivered directly to your wallet address.
The royalties will be paid immediately after contribution to an NFT while the $QEV tokens will take 72h before becoming redeemable.
The NFTs within each Crypto-Novel will be auctioned exclusively on MyNFT.com, a new marketplace on the Polkadot network that allows for fixed-price sales through an innovative auction process, known as The GMB Auction system.
This is an intuitive system that rewards bidders when they are outbid.
Tokenomics
$QEV Token, pronounced Kev, is The Quest of Evolution native token. It represents ownership in the DAO and in the IP rights produced by the community as a whole.
The $QEV token is a hybrid utility and rewards token that represents the IP.
The total 10,000,000 $QEV of the token supply is distributed as follows:
Ecosystem 25%
Platform Treasury 15%
Architects 10%
DAO Treasury 15%
Join Incentives (Airdrops) 2.5%
Community Sale 5%
Founder and Team 12.5%
Seed Round (Private Investment) 10%
Advisors 2.5%
Market Liquidity 2.5%
What Makes The Quest of Evolution Works Outstanding
Writing as a profession is a long, long game as authors not only give the investment in writing a book but finding a publisher. As it can be extremely long, painful, and more often than not ends in failure, it is very discouraging.
We also may lose out on many great works that were simply never made because the author had to get a “day job” before they were discovered. In other words, they lost the chance to write an amazing book.
By purchasing and contributing to the Crypto-Novels, people will earn rewards from all future sales of the NFT in perpetuity, ownership in the DAO, and IP rights.
Also, the platform incurs huge licensing value in sectors like film, the Metaverse, game design, and many more by collecting and organizing the Intellectual Property Rights commodities in the form of the storylines, music, and visual arts contained in the Crypto-Novels.
To date, the team has raised $400k in investments from firms such as Zee Prime Capital and Peer Venture Partners.
Quest of Evolution Could Change Writing Forever
The Quest of Evolution model gives writers freedom of expression and a “Write to Earn” method from creative works. It is a new tool to help great writers get noticed and find ways for writers to start earning money faster.
The post The Quest of Evolution: Write-2-Earn Multimedia NFTs appeared first on Blockonomi.
