WELCOME TO THE BETA

posted by
fancraze
on
January 13, 2022

WHAT TO EXPECT 

FanCraze is opening up the beta to fans and we want you to know what to expect. The roll-out is designed to gain valuable insight from early participation, and gain momentum into launching to the world. New packs will be released along the way and early packs will sell out, so make sure to keep an eye out for new drops. 


WHAT IS FANCRAZE

Towering sixes. Toe-crushing yorkers. Heart-breaking run-outs. Flying catches. The level of drama in ICC events is simply unmatched in the sports world. Now you can own a piece of that action. FanCraze and the ICC have teamed up to create ICC Crictos, a new collection in which legendary moments and unforgettable plays become digital collectibles on Flow Blockchain that you can own forever.


WHY IS THIS SPECIAL

Crictos are the first of their kind ICC digital collectibles. For the first time, cricket fans can participate in the digital economy of cricket, owning, trading, and using NFTs, while showcasing their fandom. Here is what you fans can do:


Build a Collection: Putting together a complete collection is an amazing achievement. A collection is a curated themed group of NFTs or stills that share some common characteristics (Sixes, Fours, Catches, Batters, Bowlers, T20 WC etc.)

Trade with your Friends: Trade NFTs with your friends from around the world within minutes. Thanks to Flow blockchain, you can securely transfer ownership of a NFT to anyone else at any time.

In-Game Value: In addition to the underlying collectible appeal and intrinsic value, these NFTs can be used in various applications and play-to-earn games which will be developed over time in the FanCraze Metaverse.

Real-World Utilities: Through ownership of NFTs, fans can win once-in-a-lifetime experiences. Think about getting to view that much-awaited ICC World Cup Final match from a VIP spot in the hospitality box, or interacting with your favourite cricketer one-on-one!


WHAT’S IN THE PACKS

Before the marketplace goes live, the only way for you to purchase the NFTs will be through packs. Each pack will have several NFTs, as clearly outlined in the pack page. NFTs are tiered, so some Common NFTs will live in every type of pack, but Rare, Epic, and Legendary NFTs could be limited to higher tier packs. For the first drop, we will have 2 tiers of packs priced at $9 and $49. We may add another pack priced at $199 or higher.


RARITY OF MOMENTS

There are four active tiers of FanCraze NFTs that will be a part of the packs, based on rarity, ranging from the collectible Common tier to the ultra-scarce Legendary tier.


Common Tier: Highly Accessible. (1000+ copies per NFT)

Rare Tier: Smaller Edition Sizes. (500-999 copies per NFT)

Epic Tier: Limited Edition. (150-499 copies per NFT)

Legendary Tier: Elite Collector Level. (25-100 copies per NFT)


MOMENTS IN THE FIRST DROP

We will have 60 moments from the 2015 ICC Men’s Cricket World Cup and the 2019 ICC Men’s Cricket World Cup as a part of the packs that will be dropped. A list of the 60 moments will be made available when the website goes live on Tuesday, 25th January at 12 noon UTC.


The first set of 60 moments will represent 60 cricketers including Virat Kohli, MS Dhoni, Babar Azam, Kane Williamson, AB DeVilliers, Chris Gayle, Ben Stokes, Mitchell Starc, Rashid Khan, Kumar Sangakkara, and many more. Moments representing each of the top 10 cricket-playing nations will feature in the first pack drops.


TIMELINE

Milestone 1: Tuesday, 25th January at 12 noon UTC

  • Website goes live
  • Pack reservation window opens up for 48 hours and users can start reserving packs
  • Users can start adding funds to their FanCraze wallets using either fiat or crypto 
  • A list of the 60 moments in the first packs will be revealed

Milestone 2: Thursday, 27th January at 12 noon UTC

  • Pack reservation window closes
  • All users are randomly assigned a place in the queue
  • First packs are dropped
  • Users who were able to purchase a pack can open their packs and view their moments starting at 6 pm UTC on Thursday, 27th January

Milestone 3: Sunday, 30th January at 12 noon UTC

  • Marketplace goes live
  • Users who were able to purchase a pack can list their NFTs for sale
  • Users can buy NFTs listed by other users using their FanCraze Balance 

EXPLAINING THE QUEUE

Pack Reservation Window

Leading up to a pack drop, we’ll announce that it's happening via email and will try to provide you with a reminder. Users will typically get 24-48 hours to reserve a pack. Please visit fancraze.com where you’ll be able to access the pack by selecting the thumbnail of the soon-to-be-dropped pack on the site's homepage. Once you are on the pack page, click the button to “Reserve Pack''.


Join The Drop

Once the pack reservation window closes, you need to visit fancraze.com and access the pack that you reserved. On this page, you need to click the button to “Join The Drop.”


The Queue

The system randomly assigns each user who has reserved a pack a place in the queue. Your place in the queue will largely determine whether you’ll be able to purchase a pack or not.


HOW DOES THE FANCRAZE WALLET WORK?

The goal of FanCraze wallet was to make it easy for mainstream consumers to participate in the blockchain economy. The FanCraze wallet is a custodial wallet with the ability to allow purchases with fiat currency via credit cards, online banking, and other localized on-ramps, as well as crypto assets that you may already hold in your existing wallets. 


Credit card, online banking, and mobile wallet purchases are extremely simple and self-explanatory. Crypto purchases require a few extra steps to access your existing wallets (Coinbase, Binance, Metamask, Argent, etc.) and use the crypto assets you already own to purchase FanCraze NFTs and packs.


Crypto purchases can be made using stable coins on Layer-1 blockchains such as Ethereum Mainnet, Flow Network and Solana Network as well as Layer-2 blockchains such as Arbitrum and Polygon. We will add more options from various blockchains. The vision is for FanCraze to support purchases using whatever kind of currency you want - from fiat to crypto. 


The FanCraze wallet does not need to connect to Ethereum. FanCraze will automatically create a wallet when a FanCraze pack or NFT purchase is made by the user.


WHAT CAN YOU DO WITH YOUR FANCRAZE WALLET?

Custody your on-chain assets: The FanCraze wallet holds your ICC Crictos and future FanCraze NFTs that will be minted on Flow Blockchain.

Maintain an off-chain balance: Users need to add funds to their FanCraze Balance. This balance can be used to purchase NFTs or packs in the marketplace. The FanCraze Balance is what you earn from sales in the Marketplace or from the Affiliate program. 


Add funds to your wallet: Users can add funds to their FanCraze Balance using either fiat or crypto. 

Fiat

  • Credit Cards (Global coverage)
  • UPI, Netbanking, Cards, Mobile Wallets (India only)

Crypto assets on Layer-1 networks

  • USDC or DAI on Ethereum Mainnet
  • FLOW or FUSD on Flow Network
  • USDC or USDT on Solana Network

Crypto assets on Layer-2 networks

  • USDC, USDT, or DAI on Arbitrum Network
  • USDC, USDT or DAI on Polygon Network (Matic)


Withdraw funds from your wallet: Users can withdraw funds from their FanCraze Balance into fiat in certain countries or into USDC to be used on Ethereum Mainnet. You need to wait 3-7 days before you can withdraw funds that you add to your wallet . The waiting period depends on the payment method originally used to add the funds, for e.g. withdrawal waiting times are currently 3 days for crypto payments and 7 days for card payments.


TRANSACTION FEES FOR FANCRAZE NFTs

Transaction fees on Flow are modeled to be significantly lower than on Ethereum. Transaction fees are currently, and will be for the foreseeable future, ZERO for each transaction. Submitting a transaction to the Flow network will cost no more than fractions of a cent in any case.


OTHER FEES TO EXPECT

For payments in India either via UPI, Netbanking, Mobile Wallets, or Cards, the processing fees are currently, and will be for the foreseeable future, ZERO for each transaction.


For each credit and debit card transaction globally, an industry-standard processing fee will be applied to each purchase. These fees will be charged in USD and will be clearly outlined in your checkout screen. 


For crypto payments, standard network fees are applied on top of transaction totals. For example, if using USDC on Ethereum Mainnet to purchase FanCraze Balance, gas fees will be directly charged by the Ethereum network and will be set like any other Ethereum-based purchase. However, users can make crypto payments on other Layer-1 networks such as Flow and Solana as well as Layer-2 networks such as Arbitrum and Polygon where network fees are significantly lower and are currently $1-2 per transaction.


KYC EXPECTATIONS

In order to comply with financial regulations, users of FanCraze will go through a KYC process only when larger sums of money are either being spent or paid-out. This will also help keep the community safe to eliminate fraud.