Whitepaper Image

Ovation NFT Whitepaper

Learn more about the Ovation project and what brought us together. Digital greeting cards on the blockchain are a NEW idea for the NFT space. Read more in our whitepaper.

Ovation NFT Welcome and Introduction

The idea of greeting cards on a blockchain is our fundamental market strategy. We have special attributes for our non-fungible tokens that differentiate them from other NFTs. The Greeting Card is a staple of community living and social life. As social creatures we love to celebrate the special moments in each other’s lives. For our entire lives we’ve been receiving birthday cards from our parents or loved ones. As we grow up we learn to love giving more than receiving and we enjoy giving others validation on their special day.

Ovation will be a market-place of specialized digital NFT items. A new idea for NFT items that are specially designated for sending to loved ones with the ability to carry embedded value. These NFT items are analogous to the greeting card aisle at your local grocery market. In the United States alone the gift card market is expected to be close to one trillion dollars in 2025. Gift cards are a mostly analog gift and it's time to bridge that technology into Web3.

Many of our relationships in the modern age are completely digital. Often we have intimate friendships with people whose names and addresses we may not know. However, we still value these relationships just as much as we value our friends and family we meet with in person on a daily basis.

Invitations, gift cards, notifications, announcements, congratulations and many other types of messages are meant to be special. A user can send a unique item or gift digitally just like how they would send a birthday or congratulations to a friend in the real world. They can include an embedded NFT or a crypto gift for their recipient with embedded value.

Ovation's business strategy is to partner with other blockchain solutions to make an OVT capable of carrying any type of Token or NFT as a gift for the recipient. Furthermore, these NFT items will be issued in series release format on the Ovation NFT market-place.

Ovation NFT items will be presented initially on the Ethereum network under the ERC-721 specification. Minting functions are derivative of industry standard Open Zeppelin solidity contracts. Future releases of NFT artwork may be from third parties or independent artists.

Value Storage

Ovation NFT contract will contain a tokenURI endpoint which will generate and serve both artwork and attributes of a given token. Storage of artwork will be in IPFS decentralized content delivery networks. Attributes of the token may include price history, price upon maturation, current value, token type and more. This meta information will ensure optimum interoperability with aftermarket, 3rd party, and decentralized NFT market-places.

True Digital Ownership

Ovation NFT token holders are the true and perpetual owners of their digital items. Items minted and sold will forever reside upon the parent blockchains, such as the Ethereum Network, under the unlikely condition Ovation ever ceases to exist. With blockchain storage the items are tokenized and the item owner is the sole custodian of the artwork and attributes of the token.

Artwork

All NFT artwork for Ovation will be original art. Partnerships with select artists will be negotiated and Ovation NFT items will be released in wave formats. Variability will include rarity, limited quantities, limited time items that can only be minted before a certain date, and other exciting applications of NFT technology.

Security and Immutability

Items are tokenized for the purpose of custodial ownership and immutable transfer. Ovation NFT items can be traded on primary and secondary markets, including potential decentralized or DeFi market-places.

Goals

  1. Launch a functional NFT market-place.
  2. Release an initial set of low-cost NFT Ovation items.
  3. Present NFT items for sale under ERC-721 format on the Ethereum Network
  4. Embrace and adopt other blockchains that are capable of handling smart contracts.
  5. Partner with artists for special and limited edition releases.
  6. Expand functionality of encasing or transferring outside assets as embedded gifts.
  7. Explore NFT real-world execution for physical delivery of certain compatible NFTs.

Large Project Milestones

Site Launch

Site production is well underway. Contracts will be finalized for minting and items will need to be created before a site launch can take place.

Initial Sales and Series Launch

Items will be sold on the Ethereum network and will be purchased with Ethereum tokens.

Contract Evolution

Note: once minted, the rules governing a given item will never change. However, as new NFT items are released we will continuously improve our implementation of the ERC-721 standard for a complete and convenient experience for our customers.

Payments and Tokenomics

Ovation NFT items will be released under the ERC-721 contract guidelines and will be completely interoperable with other NFT market-places and private transfer functions. Our goal is to create digital artwork with a value added proposition for extended utility and meaningful purpose.

Items will be priced individually on initial offering in the Ovation market-place. Ovation NFT items that are purchased become owned by the wallet of the user who purchases the item through the Web3 portal on our platform.

From then on the NFT items are subject to the owner’s will and can be sold on open markets. Inheritance features will be in place to reward the creators of digital artwork. Sales processed on the Ovation NFT market-place will include additional fees for operation.

Value Embedding

Value embedding is a future feature set that is intended to add a special capability to the Ovation NFT item library. The method of encapsulation could be embedding or a partnered transfer function on a contract run in series with sending the Ovation.

As a digital edition of the traditional gift card market Ovation intends to replicate the experience of sending a greeting card with cash or a gift card inside. The Greeting Card and Gift Card market in the United States will be close to $1 trillion by 2025.

Embedding will be an optional function that can be used or ignored.

In early phases of the Ovation roadmap value embedding may be limited to the Ethereum network. As the roadmap continues to progress other blockchains and token networks will become supported. There is no guarantee that any specific token or network will be supported due to the wide variety of complex respective differences. Networks that follow the ERC standards or are compatible with contract formatted for the Ethereum Virtual Machine (EVM) will likely be the earliest networks to be supported.

Official Social Media Accounts

Our team maintains an active social media presence. We have official profiles on the main platforms. Keep in mind that there are countless scams and many bad actors who are trying to steal your private keys. The services listed below are our only official social media profiles and any others may be imposters so please proceed at your own discretion.

Official Site, Official Email, Discord, Telegram, Twitter, Facebook, Github, 

Incubation Status and Honey Associates

Ovation is a dba of Honey Associates LLC, founded in 2022 in Michigan, USA. Honey Associates is a cryptocurrency and software development lab that specializes in kickstarting incubator projects. All rights are reserved.

Download the Whitepaper in PDF Format:

pdf logo Download PDFspanishfrenchrussianturkish


Visit our Social Medias

GitHub
Discord
Medium
Telegram
Twitter
YouTube