The Noun Slot Machine

What is it?

An NFT slot machine that uses Nouns as the slot images. If the user wins (winning condition is when all 3 reel slots have the same Noun image) they will get a listed Noun from floor.

Basically, A user pays a small fee to play and try their luck, if they win, they get an NFT. The NFT will be bought by all the funds collected from fees from past losses.

Why?

  • Give users a chance to win a listed Noun, at a fraction of the floor price.
  • Spread the Nouns meme.
  • Provide liquidity to floor Nouns.

User Experience.

  • Token gated approach to playing ($SLOT).
  • Concepts of “Session” and “Plays”
    • Plays are a subset of a Session.
    • Buttons on UI : “Start session”, “End session”
  • A Session ends automatically when a user wins.
  • User can either end the Session or keep on using their Plays.
  • Aim to make the cost of a Play = 50%+ less than the floor.
  • $SLOT can 2x plays, User can only use 5 $SLOT for each game (i.e. 10x max). If a user buys 2 plays and inserts 2 $SLOT they will 4x and get 8 plays.
  • When the user wins , they will be awarded the airdropped a Noun from floor.

Rules of the Game.

  • To win, all the slots of the middle row of the three reels should have the same Noun image.
  • The number of slots (x) in each reel will be 5.
  • The number of winning (duplicate) Nouns in each reel (y) be 2.
  • Remaining slots in each reel will all have different Nouns.
  • The total number of configurations of the slot machine will be 5x5x5 = 125.
  • The total number of winning configurations will be 2x2x2 = 8.
  • The probability of winning will be 8/125 (6.4%), which is reasonable for the user given the lower cost of each play.
  • The Price of one Play is inversely proportional to the probability (this function is such that when y=x, then Price for a Play = Floor price).
  • Therefore, Price for one Play = (2/5) x Floor price.

$SLOT Tokenomics

  • To incentivise early adoption, and get around the cold start problem - $SLOT will be introduced.
  • $SLOT will be distributed proportionally every 24 hours to users based on their number of Plays in that period (eg if there were 100 Plays and a single user played 50 times, they would receive 50% of the tokens distributed that day).
  • Fixed supply of 69,000. 1,000 tokens released every day. 69 days for all the tokens to be released (i.e for “Season 1”).
  • Only “natural Plays” (Plays that are NOT from $SLOT multipliers) count for reward of the token after 24 hours.
  • No pre-mine or team allocation of $SLOT will occur.

Timeline and Budget

  • Build everything outlined (2 months).
  • Tweak the algorithm to make the game fairer and more efficient (4 weeks).
  • Amount: 10 ETH

Future Possibilities

  • Incorporate into nouns.wtf and/or support other collections.
  • Collected fees flow into the Treasury.

Team

Development - https://twitter.com/proxima424

Product & Design - https://twitter.com/camarilla_

A Word on Gambling

In this game, a user can take a small risk to gain a much bigger reward. With the chances of winning being 100% transparent. I also believe that $SLOT as a mechanism, makes certain that users do not walk away empty handed. When designing the incentives we set out to make a game of chance that’s fun, rewarding and does not exploit users.

Any feedback from the community is welcome.

1 Like

Interesting idea, but there is a large uncertainty by sweeping floor.
How can players be motivated to participate when they are sure that the treasury cannot afford the fp at the moment?
What if 2 winners are born in a short time but the treasury can’t afford?

1 Like