There are many types of utility being touched upon during the new batch of NFT projects. One project We came along was a project called SOLES which aims to create a lottery based passive income opportunity. We had the opportunity to speak with the main developer of the project and get more in in-depth information on their project and future plans.
Let The Sun Shine In
Solanews: You are creating a passive income method through an innovative lottery system, could you please expand more on that?
Soles: The lottery system gets funded through two sources, royalties from the secondary market and a share of the profits from Maison Solaris, our fashion brand. Soles will charge 8% of royalties in secondary market transactions. 80% of all funds stemming from royalties will go to the season’s lottery bank. In addition, 30% of profits reported by Maison Solaris will be transferred to the lottery bank on a seasonal basis according to the zodiac calendar. This process is envisioned as a perpetual profit & royalty distribution system. Moreover, we’ll change the odds and profit’s share distribution as Maison Solaris grows to optimize the lottery and make it more exciting for holders.
This system is designed to create seasonal demand for the NFTs throughout the whole year, increasing the sales volume of the collection, as a consequence there will be more money going into the lottery’s bank every season
SN: You have a fashion brand incoming, what type of clothing are you focusing on?
SS: In Maison Solaris, we promise to always offer original and innovative designs that reflect our creativity and authenticity to our clients.
We wish to be a streetwear brand that embraces sophistication. We want to make clothes that are fun, comfortable, and functional, but also implement a certain elegance that is not often seen in streetwear brands. Making Maison Solaris an elevated, high-quality streetwear brand.
One of our priorities is to make comfortable clothes without them being basic. Our clothes are supposed to be worn on a daily basis, which is why we are committed to offering comfortable yet stylish designs that will satisfy our buyers and will keep them vibrant and in sync with current trends.
Inspired by freedom and uniqueness, we will enable our customers to become more active and free-spirited through our designs.
SN: What else would you say are your plans for your project?
SS: In short we aim to be pioneers of the fashion industry in the metaverse. In the coming months we will establish Maison Solaris as a dynamic, energetic and upcoming streetwear brand, first through strong online market presence. Second, with pop-up stores in major cities in the US and Mexico. Simultaneously, we will be developing our metastore, where customers will have the chance to buy both off-chain clothes and their NFT counterparts. Third, we strive to launch a boutique for our customers to come and live our unique buying experience. Central to our plans is to blend our commercial ops with the metaverse in a way in which both on- and off-chain transactions are recorded on the Solana BC.
SN: With the oncoming metaverse what are your plans for the metaverse if any?
SS: We plan to buy plots of land on different platforms like Desolates, Portals, or even Decentraland or Sandbox depending on how the metaverse is evolving. We are open to explore different platforms on different blockchains.
SN: What can you tell us about your team?
SS: The Soles Team is made up by 7 members. The founder of this project, with a background in finance and marketing, started as a crypto and poker enthusiast and got absorbed by the fascinating NFT World. There are 3 artists designing the artwork for the NFTs, they have a diverse portfolio ranging from Mural Painting, jewelry design and Artwork for music records. Moreover, our Fashion design team has long been involved in the Latin American fashion scene both in the design and production sides. Finally, the last member of the Soles team, our Finance and Business Executive, with experience in another tech start up, business management and procurement constantly aids in managerial, operational and marketing activities as well as advises on short, medium and long term strategic decision making. Our team is global as more than half of the team is located in Europe, however ops and development take place in Mexico.
SN: Do you want to explain more about the lottery system? How long will the lottery system stay in play?
SS: The lottery system ́s modus operandi and its funding sources are explained above. The lottery system however is to be operational in perpetuity, we aim to maximize its value for years to come as we keep on being disrupting and innovative.
SN: Are you ok with owners of the NFT creating products of their own with the artwork?
SS: Most definitely We want holders to have the full benefits of owning Soles NFTs, that’s why we decided to use CC0 (no rights reserved), meaning that we opt-out of copyright, database protection, and the exclusive rights automatically granted to creators, so that you can build upon the Soles you own.
SN: Do you have any plans to continue with a DAO or create any type of system for members in the future?
SS: We don’t plan on creating a DAO for the near future, it just doesn’t make much sense right now with how we have to create and grow Maison Solaris, however, we will have an exclusive chat for verified Soles holders and special access for our Maison Solaris’ events such as runways, presentations, and many more fashion & NFT related exclusive events.
Passive income is always a magnetic trait in NFT projects and if the utility can be properly implemented then SOLES could have a winning strategy on their hands.