The Rules of the game
By minting or buying on a secondary market a Non-Fungible Token (hereinafter, “NFT(s)”) created by CoCo B.C., you are accepting the following rules of this game, which are coded into our Smart Contract for Unicorn Bottles.
Gather all the NFT pieces of a collection that represents a bottle in order to be able to redeem them for the physical bottle, which also includes the NFT art piece.
There are two options for buying the NFTs: (1) directly minting from our website (each NFT can be minted only one time), or (2) buying the NFT from another customer via a third-party marketplace.
When the minting is completed, if one customer is holding more than 85% of the collection, they will be able to make an offer (in our portal) for the rest of the collection with the help of the “Active No Rule”.
Note: When an offer is made, the NFTs of the customer will be locked for as long as the offer is active, preventing the NFTs from being traded.
This method is developed to guarantee that one customer can fully gather the entire collection. This aims to ensure that no NFT is lost on a wallet without an owner.
To be able to use the Active No Rule the person requires to have at least: 85% of the collection (as mentioned above), and Proper funds (as a minimum, the minting price + 15% for each NFT trying to buy). As with the NFTs, these funds will be locked for the entire time the offer is active.
Once the customer fulfills the previous two requirements (i and ii), the user will be able to make an offer for the remaining part of the collection, with two possible outcomes:
1.- The offer is accepted, and the transaction goes through; 2.- The offer is rejected, and the transaction is declined;
If the offer is neither accepted nor rejected for 30 days it becomes automatically rejected. Once the offer is automatically rejected, the customer will be able to place another offer that will be active for the next 30 days, and so on. If the mentioned process is repeated for 5 consecutive periods of 30 days, the following offer will automatically be accepted, and the transaction will be accepted and go through. Moreover, if during these first 5 offers, a user rejects an offer, the process will be restarted.
Therefore “Active No Rule.”
The offers are made to every user that holds an NFT so they may be accepted or rejected individually by each one. This implies that one user can accept the offer, another can reject it, and a third may not answer. Each user will have its own individual count of the “Active No Rule.”
Given the above, the offer may be canceled for the following two reasons: (i) the frame of 30 days expires, or (ii) every user that receives the offer actively replies.
Note: If during these first 5 offers, the customer cancels the offer, the process is restarted for all.
Once the customer collects all the pieces (the NFTs linked to a bottle), they can exchange them for all the benefits (bottle + final NFT art). By performing this exchange, all the NFTs part of the collections will be burnt,
- The bottle is stored in an inbound warehouse in Glasgow (Scotland), where it can be picked up free of charge,; any other way of collecting it will come with added costs (logistics, shipping, tax, etc.).