NCOP

NCOP Review

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1. What is NCOP?

NCOP is an NFT (non-fungible tokens) platform that issues, trades, and distributes NFTs and underlying tokens issued and distributed on the platform DApp. The name NCOP stands for “NFT Contest to Own Pick.” The Contest allows users to evaluate and discover the value of NFTs. It’s what differentiates NCOP from other NFT platforms.

The NCOP NFT platform facilitates the interaction between artists and users, allowing them and other markets to discover, evaluate, and preserve NFTs. It also encourages user participation by providing the fanbased community with collective intelligence and NFT evaluation services. These services ensure users and markets discover, evaluate, and preserve NFTs.

During the First Phase, we successfully entered the NFT art market. Phase 2 will begin implementing additional content, like sound sources, games, real estate, and anything of market value that can be digitized.

With the rapid growth of NFTs, the market’s attention has shifted to Web 3.0, a decentralized application that extensively uses blockchain-based technologies. Web 3.0 is the next evolution of Web 2.0, the user interface providing access to documents, applications, and multimedia online. Simply put, Web 3.0 exploits a platform’s ability to tailor web products and services to the individual.

Phase 3 of the NCOP Project focuses on entering the Metaverse, which has become a new and powerful NFT playground. And while there are issues and limitations with current Web 3.0 models, the NCOP Project has adopted several measures to overcome them, starting with a Decentralized Autonomous Organization, or DAO. A DAO is essential for adequately deploying any NFT platform, as it benefits users and the ecosystem.

1-1. What Makes NCOP?

NCOP is an art based NFT Web 3.0 platform with a DAO where users evaluate and discover the value of NFTs, making it an optimal service for the Metaverse. NCOP’s Metaverse services will be carried out utilizing powerful Web 3.0 Tokenomics. The three fundamental elements will be the token-based economy, Web 3.0 platform services, and the DAO.

| Token Economy

Tokenomics acts as an incentive mechanism and monetary policy for crypto or a token’s supply and demand. Tokenomics rules how and when a new crypto or token should be generated or removed from the system. Once the Tokenomics is written into a smart contract, the system becomes automated.

The NCOP Project is based on Tokenomics, the fastest and most transparent method for growing a Web 3.0 community exponentially. NCOP will utilize Web 2.0 social media platforms to proliferate the community network and combine it with Web 3.0 Tokenomics for a more powerful network effect.

| Web 3.0 NFT Platform Services

Web 3.0 is a new World Wide Web concept. Users benefit by making, marketing, and exchanging their content rather than just publishing it on a platform. It also promotes decentralized networks based on blockchain technology, tackling ownership and data issues, which are the main drawbacks of Web 2.0.

NCOP's Web 3.0 NFT platform works by combining decentralization with interactive capabilities in a user-friendly interface through the blockchain. The Metaverse provides users with immediate community feedback for streamlining product development, allows them to target and penetrate markets more deeply, and enhances a user’s ability to control their online experience with increased security.

| NCOP DAO

DAO is a new way of organizing online communities and businesses that removes the need for a central authority. It is a decentralized and autonomous organization run by code rather than people, providing a new, more efficient way to conduct fair business with transparency.

The core function of NCOP’s DAO is to issue a digital currency (governance token) to users, backers, or other stakeholders utilizing a system that gives token holders voting power. The same system allows the revenue generated to be shared, thus ensuring all within the ecosystem grow together. The token’s price on the secondary market determines its voting power.

| Metaverse

Advances in information technology are expanding the reach of the existing market from the real-world market to the cyber-world market. The Metaverse offers a new way of interacting with the world, one that is more immersive and interactive. As more people join the Metaverse, its impact will only grow. Core Metaverse technologies include the blockchain, digital assets, and NFTs.

In response to a real-world market shift towards metaversal changes and technological advancements, NCOP will adopt a better Web 3.0 environment for artists and users that is more efficient, effective, and convenient.

1-2. NCOP’s Vision – Taking NCOP Beyond Digital Art

Art and culture are expressions of the human condition. Whether light and rudimentary or deep and intimate, art and culture remain a manifestation of who we are. The founders of NCOP believe that NFTs and Web 3.0 should be utilized and matured accordingly.

NCOP’s near-term evolutionary path demonstrates our commitment to this belief. The NCOP roadmap, therefore, not only grows the community but also enhances the technology’s value and utility – elements we have worked hard to develop and deliver to the market.

For NCOP to become successful for our community and meaningful to society, synergistic partnerships and cooperation are essential. Partnerships for the sake of marketing hype are of no interest to NCOP. Naturally, efforts aimed at raising awareness to grow our community are essential. However, NCOP will not disrespect the community’s intelligence by forming partnerships that “piggyback” on the prominence of other organizations. Our roadmap will be administered with the support of reputable and knowledgeable partners capable of execution in their fields of expertise.

The NCOP Evolutionary Roadmap is outlined below and features Inclusion, Accessibility, Disruption, and Cultural Preservation.

1-2-1. Inclusion (timeline: 0–3 Months)

Web 3.0 and Blockchain were conceived from a vision of inclusivity. Geographic and cultural expansion partnerships have already commenced. Additional progress will be promptly reported to our community. The regions where we have already commenced partnerships include:

East Coast USA (Miami and New York)

Hawaii

Latin America: Costa Rica, Colombia

South East Asia: Cambodia, Vietnam, Taiwan

Central Asia: Mongolia

Pacific and Oceania

In due course, we will introduce the community to our local ambassadors on the ground, who will outline initiatives for growing the community.

1-2-2. Accessibility (timeline: 0–2 Months)

Indiscriminately allowing community membership but not providing the means to interact and participate in our ecosystem meaningfully renders our aforementioned objective of inclusivity redundant. NCOP seeks to provide diverse levels of technological literacy to all cultures, age groups, and socio-economic classes within its community.

Rather than just a technological development, NCOP aims to become a more educational experience. While technology serves as a tool or instrument for education, NCOP creates solutions. Our partner X Widget Labs has entered the final stages of producing generative content and AI at the “bleedingest edge.” These solutions and partnerships will allow for true accessibility and, thus, meaningful inclusion into our community.

User-friendly access to Web 3.0 sans coding is what we will achieve!

1-2-3. Disruptive Permeation (timeline 0–8 months)

NFTs, cryptocurrencies, and distributed ledger technology (DLT) are experiencing exponential growth. Yet, they remain segregated from societal and economic structures. Whilst NFT art has tapped into the mainstream, it remains a superficial expression of technology with greater potential.

This is not to speak negatively of NFT art. At NCOP, we believe that adapting to an increasingly discerning community is essential. However, the technology behind NFTs has matured to serve a more sophisticated purpose.

Beyond the socialization phase of NFT and blockchain technology, the founders of NCOP believe that there must be faithfulness to the mission rather than simply propagating a decentralized transactional environment.

The NCOP team is in the development phase of expanding the NCOP tech stack and its functionality, allowing for real-world asset title systems that satisfy a greater market to include:

Immovable and movable property

Intellectual property: patents, AV content

Transactional contracts

Financial securities: letters of credit, royalty streams, debt instruments, promissory notes, insurance securities, derivatives

Naturally, as NCOP is not a financial service provider and does not possess regulatory licenses and permissions, the above initiatives will progress through partnerships and agreements with licensed financial institutions and government regulators.

Currently, NCOP is authorized to state that “NCOP Phase 2 initiatives have commenced with the Kingdom of Cambodia and several other governments in Europe and Asia.”

We are not yet authorized to disclose more about initiatives with other governments, as they require multilateral and international cooperation through jurisdictional procedures and compliance. More information will be disclosed following consensus approval from each governing body.

1-2-4. Cultural Preservation (timeline: 0–12 Months)

In alignment with the UN SDGs (which ones) and UNESCO objectives, NCOP believes that a noble application of NFTs and digital content falls under the category of cultural preservation. The yearning for identity, heritage, and understanding of “self,” both individually and collectively, is the human condition.

Sadly, human history includes geopolitical events that have destroyed, erased, and disrupted the preservation of cultures, artifacts, and writings. The perishable nature of historical pieces stored and preserved through antiquated and costly methods calls for change. NCOP believes that current technologies can significantly enhance these processes.

Through Blue Continent, NCOP has partnered with several indigenous nations of the pacific islands and the Kingdom of Cambodia. Blue Continent () is an economic research institute headquartered in Hawaii focused on the regenerative and sustainable application of technology for economic development and cultural preservation.

1-3. Key Market Status

NFT art is now the fastest-growing sector of the NFT market at 1.3 times the semiconductor market and 2.3 times the sound source market, proving itself a mega-market resilient to recessions, inflation, and even a pandemic.

The art market experienced its worst recession in more than a decade in 2020 due to the worldwide Covid-19 pandemic. And yet, in 2021, NFT art was one of the few markets globally that rallied back to reach levels even higher than before. According to the 2022 Art Basel and UBS Global Art Market Report, aggregate sales by dealers and auctioneers soared 29%, reaching $64.4 billion despite growing inflation.

NFT-based art broke all records in March 2021, when Beeple’s digital collage “Everydays: The First 5000 Days” sold at Christie’s New York for $69.3 million. That sale was the tip of the spear as non-fungible token art continued to reshape the market over the next year.

| Today’s Global Art Market

Three countries dominate 88% of the global art market, with the United States remaining the largest single market, with sales rising by a third in 2021 to just over $28 billion (44%). Greater China’s sales grew even more at just over a one-third, lifting it to the number two spot with $13.4 billion (21%). The UK market also grew by 14%, reaching $11.3 billion, but slipped from its previous ranking against China (19%).

| NFT Art Revolution

In the Before Times of 2019, sales of NFT art and collectibles on popular blockchains, including Ethereum, totaled $4.6 million – a respectable number, considering most people in the art world couldn’t explain what NFT stood for then. But by the end of 2021, that number skyrocketed to $11.1 billion (which isn’t part of the $64.4 billion figure for the art market as a whole). Art-related NFT sales expanded more than a hundredfold to $2.6 billion, fueled by other significant sales. For example, a Tyler Hobbs work sold for $3.3 million in August 2021. (Collectibles also peaked that month, with two CryptoPunks selling for more than $4 million.)

Of the high net worth (HNW) collectors surveyed, a whopping 74% reported buying art-based NFTs in 2021

| Fastest Growing NFT Art Markets

The Asian NFT art market emerged as a top-three global leader during the NFT craze, with transactions in Central and Southeast Asia accounting for 35% of the $22 billion in global NFT traffic in 2021 (2022, Chainalysis, Inc.).

Southeast Asian countries such as the Philippines (9.5%), Thailand (7.9%), and Malaysia (10.5%) took top spots on the global NFT traffic list. In comparison to the United States (3.9%), the UK (3.3%), Canada (6.2%), and Germany (3.4%), Asia has a significantly higher transactional rate.

| NFT Service Features

Differentiation and development around specialized services.

OpenSea is the most dominant and comprehensive NFT platform, though there is a strong trend toward vertical platform services. Super Rare selects artists in fields pertaining to sports cards, game items, and NFT art and operates mainly on high-value transactions centered on NFT quality. Raible is a community-based DAO service.

Ethereum-DApp-centric platform

Currently, most NFT platforms are built and serviced by the DApp platform of the Ethereum blockchain. As a result, the burden of high fees (gas costs) incurred when using the Ethereum network has increased.

Auction and price-based pricing.

On most NFT platforms, the initial price is set mainly for artists, and the price is determined at auction, thus excluding the market or user for the NFT valuation. As a result, there are frequent cases of sharp price drops during the 2nd sale, which has raised skepticism about the resale value of NFTs.

1-4. Problems and solutions

| Issues

High-value transactions centered on a few well-known artists and fewer NFTs compared to other works of art.

Lack of a valuation system for non-famous general and new artworks, with the burden on customers when it comes to artist-centric unilateral pricing criteria

Limiting the entry of talented emerging artists centered on Generation MZ

Stable community-based vulnerability

Flagship NFT Platforms’ deteriorating competitive environments due to large digital asset exchanges entering the NFT market.

| Solution

Discovering NFT art through NCOP’s NFT contest. NFT contests function the same as popular user auditions. The result is increased marketability that boosts NCOP’s user base. By creating the foundation for a fanbase, NCOP preserves and defends its price.

User community centered on artist fanbases. Making NFT art sharable across various channels increases interaction between artists and users (co-marketing effect). It also creates artist fanbases, builds a more robust user community, and maximizes the NFT Contest’s effectiveness.

Collective Intelligence Assessment System. With the NFT Contest, users and experts collaborate jointly to assess NFTs in a collective-intelligence manner. The results are published for user reference, solving the issue related to authors arbitrarily setting NFT reference prices.

Incentives on participant activity criteria. Services based on the activation of user and community engagement should be supported by Tokenomics, where incentives based on the level of activity can be distributed as compensation.

1-5. Target Market Analysis

NFT art constitutes about 24% of the total NFT market, making it the largest. Based on our market analysis, NCOP is well positioned to become a top global player, kicking off in South Korea and expanding across Asia to take advantage of an already growing market.

1-6. Business Model

NCOP is a "fanbased community NFT contest platform" and a unique model where users (the main body) and artists create value together.

| NCOP's Value Proposition

Discovering NFTs Through Contests

Offering scheduled and random contests on the NCOP platform is an effective way for users and artists to discover and determine the value of an NFT while building fanbases. This in-house marketplace also ensures transparent valuation and transaction processes.

Credibility through Collective Intelligence

When NFT base prices are unilaterally determined by platform management and artists, it creates market volatility. With NCOP, collective intelligence is more objectively gathered among ordinary users, buyers, and experts utilizing the contest model.

1-7. The Key to Success

Improved Platform

NCOP is already a place where the user base creates the main body, making it the only NFT platform that is discovered, appreciated, and valued in the marketplace.

NFT Contests that generate collective intelligence within a fan-based community stabilizes the NFT market substantially.

Fanbase Community

NCOP’s fanbase community is essentially its business engine. These human networks play a critical role in initial market entry.

The art world has a deep history and formed a unique community with specific needs. Our fanbase community services are aimed at addressing those needs, firstly through market research and later with feedback collected through AI from NCOP users. Platform development and software updates are always ongoing.

Partnerships with relevant associations, such as schools, professional organizations, and businesses, serve two purposes; 1) to expand the fanbase community; and 2) to keep the information, interactions, and feedback fresh.

2-1. Discovering NFTs through Contests

NCOP’s fundamental service categories are; 1) supporting the fanbase community, 2) conducting collective intelligence and assessment for NFT valuation, and 3) promoting NFT contests. These separate elements, when consolidated, create synergies with each other.

NCOP’s go-to-market strategy is focused on carrying out these three fundamental services.

| Fanbase

An organized community of NFTs and artists that, when nurtured, creates a stable foundation. NCOP is a place where artists and users can interact and strengthen bonds. NFT artists share their work over third-party channels to increase demand, attract additional users, and expand the fanbase community.

| Collective Intelligence Valuation

Solves the problem of arbitrary pricing and establishes more accurate and reliable base NFT pricing for experts and users in the marketplace.

| NFT Contests

Help to focus and deploy marketing strategies properly. Create excitement and competitive incentives.

NFT contests are events and campaigns that can be scheduled or random. Focused marketing is based on fanbase community feedback and collective intelligence assessments. The NFT community and creators compete in developing promotional products and activities through contests. This behavior increases product value, identifies and promotes popular artists, and builds fan bases that expand and strengthen the community. On NCOP, stars are born!

As such, NCOP has developed a market access strategy in three ways: the fandom community, the NFT contest, and the collective intelligence assessment, each of which has a synergistic interaction with the other, which in turn can lead to the expansion and strengthening of the NCOP ecosystem. We do.

2-2. Web 3.0 Optimized tokenomics

Crypto-economics and tokenization are creating new models while disrupting our lives around organization and ownership. “User-owned” and operated, they are built for and developed by the communities they serve. Web 3.0 is the internet owned by users.

However, despite these advantages, users of Web 3.0 do not see an explosive increase when compared to Web 2.0. To overcome these challenges, NCOP offers several solutions based on a new analysis of Tokenomics.

In order for a Web 3.0 service to overcome an initial cold start and bring about a more efficient network effect, it must target active participants who need the service rather than passive participants. Token incentives should be designed and applied to these active participants according to the degree of utility (utilization) of the service.

Along with the Cold Start issue, NCOP recognizes weak-tie issues among community members in the ecosystem. Therefore, we propose ways to incentivize weak-connected members to become more interactive. NCOP-recommended Tokenomics does this.

These NCOP tokenomics will explore and apply more fundamental ways to expand the number of users of Web 3.0 services, causing NCOP’s ecosystem to expand at an exponential rate.

3-1. NFT Platform

NCOP provides technical support that simultaneously serves the NFT platform and the mainnet, creating a megaservice from the start.

The NCOP NFT platform has community services to help you create and preserve NFT value with the fanbase community.

We conduct a public value assessment of NFTs that also reveals new artists and determines their value based on overall popularity.

| Point Of Difference (PODs)

NCOP NFT is differentiating itself from other platforms in terms of (1) NFT contests, (2) collective intelligence valuation, (3) creator fanbase communities, and (4) systematic rewards.

3-2. NFTs

NCOP provides technical support to simultaneously service the NFT platform with the mainnet, providing mega services from the beginning of the mainnet.

| NFT Types

NCOP proposes four types of NFTs to be released in phases; “Static NFTs,” “Utility NFTs,” “Dynamic (Interactive) NFTs,” and “Rentable NFTs.”

In particular, the “Dynamic (Interactive) NFT” will be released in the future when NCOP adds game elements to its services.

3-3. DAO

NCOP provides a user-friendly tool called “DAO Builder” that makes it easy to structure and utilize DAOs. The DAO Builder’s basic function is to give members voting rights that shape the architecture of a Web 3.0 application. Ethereum Virtual Machine (EVM) smart contracts are organized around a set of APIs that support the web interface.