UNQ Club platform features and verticals — Q&A
What is a UNQ Club?
UNQ Club is a no-code ownership DAO platform. That means that we are exploring a very important topic — how can people own something as a group. While cryptocurrencies and DeFi are paving the way for financial independence by creating a decentralized financial system, NFTs and UNQ can provide a decentralized, collaborative solution to asset ownership.
What is a Private/Public Club?
On the UNQ platform, there are two types of ownership structures: private clubs and public clubs. While private clubs cater to small groups of people with shared interests, public clubs claim to provide experts in certain types of assets (starting with NFTs like art, collectibles, and, potentially, expanding to real estate and anything in the world) with access to an audience and liquidity.
What are the benefits of being part of a public club?
Being a member of the public club you get frictionless access to experts from particular areas and much more efficient exposure to the market. In very simple terms, you have some money and you’d like to have exposure to the NFT market, but you are not really sure which NFTs to buy. Which will go up over time, and when should you actually sell them? Being an expert and knowing the answers requires pretty much a 24/7 dedication. It’s a full-time job — with public clubs you can rely on experts to have these answers.
What are the benefits of being a member of a private club?
Private clubs allow you to own something as a group in a very simple and efficient way. You know what you want to buy, but you want to lower your risks across the board: less financial exposure, better control over assets, and transparent transactions. Private clubs can provide that to people with various interests — art collectors, gaming guilds, or maybe you want to buy a car and share that with several friends. The goal of private clubs is to deal with situations like this.
Why would anyone want to start a public club?
Even the best experts in the world can have liquidity issues. Especially if we are not talking about financial markets. That’s why there are a lot of tools like collaterals, but the question is — how do you actually evaluate those? It’s difficult, very time-consuming, and overall inefficient. However, the actual skill, the expertise, is pretty liquid. By opening a public club, such experts can get access to a number of things. First of all, of course, liquidity — we aim to make raising money from the community simple, but transparent and secure. Second, crypto has proven that the power of community can be incredible when applied properly — and we are creating frameworks to help experts build communities around themselves. Next, creating a social token on top of such a club can create a powerful liquidity tool for experts and the community alike. Finally, it creates a new layer of collaboration for all participants since they are all part of the same platform, and can share resources and knowledge.
Why would anyone want to start a private club?
Private clubs are for smaller groups of people who have a need to directly own something together. For example, let’s say you are playing a game as a guild and you want to purchase land, which can be rather expensive, and the guild would benefit from owning it much more than a singular person. But how do you handle that? How do you sell it afterward? How do you split the profits? Would there be any? Would you really trust all of that to one person, or would you prefer to have a set of mechanisms for the whole group to be able to have control over it? Because, at the end of the day, there is also one question people don’t like to ask, and it’s important: what do you do if something happens to that single owner of your common assets?
What is going to be the main usage of this private/public club?
The main usage of any club essentially is to figure out how to manage assets that are not, for example, money, so they don’t have natural liquidity. This question is important not just in NFTs or crypto, but for the entire world, actually, since the dawn of time. How do we own as a group, add new owners or remove existing ones, who is in charge of everything and how do we keep that person in check? We are creating a very flexible structure because we don’t think there is a perfect answer to that in each given situation. However, with the power of blockchain, which, on one hand, provides immutable proof, and on the other hand, allows for peer-to-peer collaboration, we might just get to the answer.
What is a private club?
The gaming guild would probably be the best example of a private club. Especially in a play-to-earn world, where assets can be expensive but also provide yield opportunities. This means that it is much better to own them as a guild, rather than an individual — put money in some sort of pool, purchase, and enjoy the benefits together. But it also raises many questions. What if one of the guild members who actually contributed to the purchase wants to leave the guild? What if the guild master, the person who is deciding on the usage of the asset, is not available or is not performing his duties? Private clubs are here to provide tools for all such situations.
What is a public club?
A good example of a public club would be an art dealer. They have tremendous expertise and a lot of connections, but they lack liquidity and could definitely use help entering the digital world. What they could do is create a tokenized version of their collection, create a public club on our platform, raise money from the community, and add a social token on top of it. That creates liquidity, exposure, an engaged community that can help promote the collection, and, for example, new artists that the expert believes can perform well in the long run.
What are the main features of those clubs?
We are aiming to provide a great set of flexible features related to governance, treasury and vault management, community engagement, and others. What we believe is really important here is to avoid deciding what people actually need, because that is something nobody really knows at this time. And maybe there is no perfect one-fits-all structure, no perfect set of features. That’s why we provide people with the option to select and adjust any of them and build their own perfect club.
What other chains will be integrated?
We will start with Ethereum since the majority of NFTs and some other assets are there. Then we will expand to other chains, but we will consider two factors: the actual amount of assets available on a specific chain and the preferences of our community.
When will the private beta be released?
We are currently onboarding the first partners for the private beta. It is important for us to keep the feedback loop very close so we can actually communicate with those testers on a daily basis, but also to have a diverse set of participants to help us cover various use cases.
What functionality is included in the private beta?
The private beta includes creating private clubs, purchasing and selling NFTs on Solana, voting on those transactions, and adding new members to a particular club on the platform.
How are UNQ Universe NFTs connected to UNQ.Club?
The Universe NFTs are an integral part of the UNQ ecosystem. With them, we are trying to set a different approach to NFTs, which can have so much more built-in functionality. Also, within the Club platform itself, in order to open a club, you will need to have a Universe NFT in your wallet. Finally, Clubs that hold Universe NFTs in their vault will have a number of benefits, like reduced fees and many more.
What are the main utilities of the UNQ native token?
- A UNQ token is required to open and maintain the club (pay rent for using it).
- Individual users and clubs can reduce platform transaction fees by holding the UNQ token.
- UNQ is the governance token for private clubs (required to vote on changes).
- A UNQ token is the main liquidity medium on the platform, so public clubs’ social tokens can be traded against it.
- A UNQ token can be used to pay fees in different other ecosystem products that we are developing.
- UNQ tokens will be used as a reward mechanism for people contributing mostly to the platform (liquidity, assets, etc)
- A UNQ token can be staked in clubs to claim additional rewards.