Summary
Provide utility to existing L1 Treasure NFTs by airdropping holders equivalent Soulbound Treasures (SBTs) on Arbitrum that can be unlocked through gameplay, thereby migrating L1 Treasures to Arbitrum One.
This post will be open for comment and discussion for ~2 weeks until Friday, October 6. During this time, we invite feedback and sentiment from the broader community about the overall proposal to migrate L1 Treasures. Other potential ideas and proposals are welcome.
Rationale
Background - Core Treasure Values
In line with humble “Loot” origins, Treasures NFTs began as “white words on black backgrounds”––all of which were free mints as we believed and hoped that users would work together and expend effort in building games and experiences that utilised them. The community that bridged their NFTs to L2 in the early days did just that: helping the DAO ideate and create a functional Bridgeworld economy that made Treasures valuable.
At the time Treasure moved from L1 to Arbitrum (circa November 2021), no permissionless NFT bridge existed. Migration was done manually and due to the workload required, the team was unable to perform ongoing migrations while also executing on the overall roadmap.
Some L1 users who re-engaged with the community months later after Treasure valuations increased were frustrated that they had missed the migration windows which placed the team in a dilemma: to pause the roadmap to create an entire NFT bridging protocol (a scope worthy of its own project like Hop), or interrupt development plans on important infrastructure such as the Treasure marketplace, or Bridgeworld Harvesters – both of which were critical priorities at the time (Bridgeworld launched initially as an incomplete game and was in severe need of these updates).
As time passed and Bridgeworld survived the most severe periods of the bear market, it became clear that many players would be significantly punished by a sudden increase in Treasure supply. Specifically, all the loyal players (including new players that joined Treasure from partner games) during tough times who purchased Treasures to equip on quests and craft into powerful consumables for use both within Bridgeworld, and increasingly in other games within Treasure. This potential approach minimises harm to our most loyal and engaged community members and encourages speculators that have been sidelined from Bridgeworld for the last year to join and engage with the rest of the Treasure community and ecosystem of games.
Eliminating Debt
The Bridgeworld team is progressively working through existing design debt as we move forward into the next chapter of the project. The L1 Treasures situation has been a recurring stumbling block preventing our ability to move forward so we are asking the community to help enact a resolution for this issue via this proposal. It will be especially important to resolve any existing debt before bringing in new game developers for the playable Bridgeworld game, which will incorporate existing items into a new format. While we appreciate the desire to find the perfect solution here, putting this matter to rest trumps the need for complete happiness by all impacted parties – an outcome impossible in this situation.
Potential Migration Plan
The Treasure team proposes taking a snapshot of L1 Treasure NFT holders and crediting these users with Soulbound versions of their Treasure NFTs on Arbitrum while also requesting OpenSea to delist the original collection. Users who break Treasure NFTs while playing Bridgeworld will be able to unlock SBTs into normal Treasures on L2.
The team cautions that timelines may vary and cannot commit to a timeline for execution as we prioritise the interests of engaged Bridgeworld stakeholders over traders and speculators. Current priorities include: Harvester Wars design, and recruitment of the playable Bridgeworld game team. Furthermore the team will likely encounter implementation difficulties and need to adapt.
Airdropping Soulbound Treasures
Renewed interest in Treasure from the earliest NFT holders has created a problem for the entire Bridgeworld community. Since our move to Arbitrum in 2021, we have taken great care in designing Bridgeworld to be a stable, balanced economy using Treasure NFTs as inputs. We modelled these designs based on the L2 supply of Treasures. A massive influx of new Treasures would destabilize this hard-earned progress and hurt existing players. It is likely that new Treasures would find their way to the marketplace soon after reaching L2, undermining the community and team’s efforts over the past two years. The only way the Bridgeworld economy can absorb the new Treasure supply is if these users commit to playing the game.
Therefore the airdrop will credit L1 holders with equivalent Soulbound metadata corresponding to these Treasures. When the user breaks a Treasure while traversing the Bridgeworld loops, they will receive +2 Breakpoint for a specific type of Treasure. Breakpoints can be used to unlock Soulbound Treasures and mint a tradable Treasure NFT. For every broken Treasure, [2] comparable SBT can be unlocked. For example, breaking a T1 Treasure will allow the user to unlock a T1 SBT. For rarer Treasures like Grin and Honeycomb, the user will need to have broken the specific Treasure in-game to unlock its real equivalent. Airdropping Soulbound versions of Treasures (specifically, the NFT metadata) that can be converted into real Treasure NFTs by breaking Treasures in Bridgeworld also saves users the time and gas instead of manually bridging their NFTs, and fosters player engagement.
Next Steps
This post will be open for comment and discussion for approximately 2 weeks until Friday, October 6. During this time, we invite feedback and sentiment from the broader community about the overall proposal to migrate L1 Treasures. Other ideas and proposals are more than welcome for discussion.
Shortly after October 6, a Treasure Improvement Proposal will be drafted by the core contributing team and published for an informal temperature check, followed by the usual governance process to bring the vote to formal Snapshot and eventual ratification.