Purpose
The goal of this project is to provide entertainment in the form of weekly text based wrestling content to holders of FWA NFTs on the Flare blockchain network.
The FWA writers are the creative force behind the wrestling aspect of this project. They create the wrestlers and give them personalities .They put words in their mouths and belts on their waists.
The goal is simple: create a community that brings together fans of wrestling with fans of NFTs. If you love wrestling and don't care to find out what an NFT is...thats fine too! Just visit our website and X account to stay up to date on all the FWA storylines!
Whitepaper
NFTs
Each month, the FWA will hold a Pay-Per-View (PPV) special where NFT holders will have a chance of winning a percentage of the prize pool (described later).
The initial set of FWA NFTs will consist of 10 wrestlers and 5 rarity levels, broken down as follows:
Common - 10 of each wrestler
Uncommon - 4 of each wrestler
Rare - 3 of each wrestler
Super Rare - 2 of each wrestler
Legendary - 1 of each wrestler
The initial series will consist of 200 NFTs. Additional series of NFTs will be released as the project grows.
Pay Per Views and Prizes
PRIZE POOL:
The prize pool for a PPV event will be announced on our X account prior to the event. Snapshot date for NFT holders will also be announced. The prize pool could include one or more of the following:
ERC20 issued assets on Songbird or Flare Networks
Special edition FWA NFTs
SGB / FLR
Physical Items
If the prize pool includes a physical item, verification through X will have to be conducted.
75% of the Flare collected as part of NFT sales for the Initial Series will be retained and used for collecting Flare Drops to grow the prize pool
PAY PER VIEW EVENTS:
The PPV events will be live streamed once a month and initially will consist of two main events. One of the events will be a 1 vs 1 match between two wrestlers. The other event will feature the remaining wrestlers in a Battle Royal. NFT Holders of the two winning wrestlers will be eligible to receive their portion of that months prize pool. Winners of the pay-per-view events will be determined by an elimination wheel using the Wheel of Names web app. A summary of the PPV may be written by the FWA writers and posted to the website afterwards.
Weekly Events:
The FWA team will provide weekly shows and post the content to our website and X account. Results from these shows have no bearing on the monthly PPV shows and are for entertainment only.
REWARD STRUCTURE:
Rewards are broken down as follows:
Common Rarity - 1% of total prize pool
Uncommon Rarity - 2.5% of total prize pool
Rare Rarity - 5% of total prize pool
Epic Rarity - 10% of total prize pool
Legendary Rarity - 45% of total prize pool.
EXAMPLE OF REWARDS:
Prize Pool for PPV = 20,000 Flare; 10,000 Flare for winner of the 1 V 1 match, 10,000 Flare for the winner of the Battle Royal.
Winning Wrestler A
Common Rarity - 1% of total prize pool = 1% of 10,000 = 100 Flare per owned NFT
Uncommon Rarity - 2.5% of total prize pool = 2.5% of 10,000 = 250 Flare per owned NFT
Rare Rarity - 5% of total prize pool = 25% of 10,000 = 500 Flare per owned NFT
Super Rare Rarity - 10% of total prize pool = 10% of 10,000 = 1000 Flare per NFT owned
Legendary Rarity - 45 % of total prize pool = 4500 Flare if owned.
Winning Wrestler B would have the exact same reward in this scenario.
In the event that not all of the NFTs for the winning wrestlers have been minted prior to a PPV event, rewards provided to each NFT holder can be updated at the FWA teams discretion.