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"Meerkat Millionaires Country Club"
Meerkat Millionaires Country Club (MMCC) embarked on its journey at the beginning of September 2021. At that time, the crypto space was in the midst of a bull market, and the fees for transacting on ETH had reached historic highs. This prompted individuals to explore other chains that offered "fast & cheap" options. Solana emerged as the chain best suited for this task. Solana minted their first collection in March of 2021 (Kreechures), and subsequently attracted more quality artists and a slew of talented developers. It was amidst this atmosphere that MMCC was born.
Launched by a team of six, the project began to grow organically, pivoting on a fresh new idea for NFTs: giving rewards (specifically royalties) back to their holders. At the time, nearly every project was built around art and community. This concept took quite a while to explain and understand. Weeks were spent explaining to the surrounding Solana community how royalties work and the plan to build a community project based around empowering the holders to contribute and help build the project.
At that time, many project teams on Solana were raking in millions of dollars in royalties, yet providing little value in return to their community. This paradigm needed a shift. Redirecting 100% of the royalties back to the community was conceived as a solution to enact this change. What if, instead of handing a founding team millions of dollars, all of it was directed to the community, empowering them to band together to build and develop the project? We believed this was a more efficient use of funds.
Thus, we devised a plan of taking 100% of the royalties from secondary sales and distributing them among the community. 85% of the funds would go to the NFT holders, while the remaining 15% of royalties from secondary sales would be allocated to the minters who believed in the project and supported the initial mint. This idea triggered one of the most thrilling events in the history of Solana NFTs!
Our pre-sale kicked off on 9/23/21 to a small but enthusiastic community. The mint remained open for nearly a week as we welcomed new community members and continued to educate individuals about how the royalties functioned. It was a slow mint initially, but a few days in, we decided to modify the structure of the mint. Instead of just minting for 1.5 SOL, anyone who minted in the pre-sale would also receive a free airdrop, effectively reducing the pre-sale price to 0.75 SOL! This ignited a new momentum, and we sold out the pre-sale mint shortly thereafter.
Once the pre-sale was sold out, news began to spread like wildfire as the community was fired up, many individuals from ETH had started to migrate over, and many of the front-facing Twitter accounts discovered the project and informed their communities. This was the period when things went "viral."
Our public sale was launched on October 1st, 2021, and quickly became one of the most hyped mints on Solana, selling out in around 1 minute. What ensued had never been witnessed before. The floor price soared from a mint price of 1 SOL to an all-time high of 42 SOL over the next three days, equivalent to around $8,000 at the time! Meanwhile, due to the high sales volume, royalties were accumulating at a remarkable rate. This led to the next historic event on Solana: a payout to the community, as promised, of around $2,500,000! Instead of those funds going to a team, they were directed straight to the community to empower them to learn new skills, collaborate, and build for the future.
This sequence of events contributed to MMCC becoming the largest launch in the history of Solana. A robust community, an innovative idea never seen before, and a steadfast commitment to delivering on promises were the linchpins of this achievement.
That is already a lot of the story, but I will save more for the Story and History of MMCC page!
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