TL;DR: With a new update or NFT collection being released almost every day, it’s clear the crypto ecosystem is constantly evolving. Famous Fox Federation is one of the NFT collections paving the road to the digital universe — but it’s just the beginning. Knowing what brought it here and why it was created will lead you to make better decisions when investing or simply interacting with Famous Fox Federation.

In this article, we’re gonna dive into the Famous Fox Federation lore, answer all the Famous Fox Federation related questions and even more. Prepare yourself for a fantasy story and a journey to the future of Famous Fox Federation!

What is Famous Fox Federation?

Famous Fox Federation is an NFT collection of 7,777 foxes that live on the Solana blockchain.

Why foxes? Because the NFT space has been inundated with monkey art. Based on the success of BAYC, everyone wanted to have their monkey project.

The team settled on these cutesy foxes to represent the Solana blockchain on the NFT scene.

While Famous Fox Federation has no “official” lore to start with, they represent a guild of sorts where NFT holders are free to create and share.

You too can be part of the Famous Fox Federation by owning one of the 7,777 NFTs!

Owning an NFT is different than screenshotting a JPEG - just like holding an original Rembrandt is more valuable than owning a replica. As their name suggests, NFTs are non-fungible by design. This is different from digital tokens like Bitcoin and Ethereum.

Fungible assets can be exchanged for another asset of the same type, much like BTC, ETH, or even fiat. NFTs, on the other hand, are unique assets where their ownership details are documented on the blockchain, ensuring digital scarcity and unique attributes for each asset.

But how exactly is digital scarcity being enforced?

The concept of NFTs first emerged in 2012 with the creation of Colored Coins, which could be used to represent real-world assets on the blockchain. However, Colored Coins only worked in a permitted environment, making it more similar to a database than anything else.

As the crypto industry became more popular, people have continued to experiment with the idea of a digitally scarce asset. This led to the creation of ERC-721 and ERC-1155.

The ERC-721 standard is like a set of rules for making NFTs. These actions help in making special tokens with their unique information, making them different from one another.

Behind the scenes, ERC-721 smart contracts keep a list of who owns which token, making it safe to pass tokens from one person to another. The contract also keeps count of how many tokens there are altogether and how many each person has.

As previously mentioned, Famous Fox Federation NFTs are secured by the Solana blockchain, under the SPL token standard. The SPL standard is being used for both fungible and non-fungible assets. Ownership and transaction history are publicly visible on the Solana blockchain along with other important info such as the NFT's metadata.

Understanding how to access an NFT's metadata is essential for holders to grasp the specifics of what they're buying.

Metadata usually includes visual attributes like color, type, wearables, and so on. On the blockchain, it looks something like this:

Famous Fox Federation is comprised of three NFT generations: Famous Foxes (FFF), Transdimensional Famous Foxes (TFF), and Famous Fox Dens.

The collection's Genesis NFTs feature the Famous Foxes, encompassing 7,777 distinct Foxes created from a varied pool of unique attributes, boasting over 1 million potential combinations.

Famous Foxes have their own set of traits that make up their uniqueness. These are background, eyes, head, mouth, outfit, secondary background, skin, wormhole, and value.

Some traits are rarer than others, which makes a specific NFT stand out from the rest. For example, the “value” type has 7 unique foxes – alien, gold, king, Lil Foxy, mirror, rainbow, and star.

Rarity is a mix of the traits embodied in the Foxes. The rarer the traits, the higher the value.

The Famous Fox Federation NFT collection has been autogenerated. This means that out of the potential combinations, only 7,777 Famous Fox Federation will ever exist!

The second NFT generation is represented by 7,777 Transdimensional Famous Foxes. TFFs are pixelated versions of Famous Foxes and have the same traits as their OG counterparts. These NFTs are the more affordable version of the OG collection.

The third NFT generation is represented by the Famous Fox Dens. Dens function as the "ownership" key for your personal Den and its Utility. Created through minting with $FOXY, these NFTs reward individuals who have staked their foxes, showcasing their trust in the team and ecosystem. They grant access to missions for earning rewards and offer a platform to display both your Solana and Ethereum NFTs within the same collection.

Every Den includes a specific number of empty rooms, allowing room additions that expand your missions' capacity.

What is the utility of Famous Fox Federation?

Famous Fox Federation make for an awesome avatar pic, but it’s also your ticket to join the FFF ecosystem.

Within the FFF ecosystem, four utilities stand out: lending, staking, raffles, and the token market.

The lending service is called Citrus. It is a reliable P2P lending platform for NFTs, offering a seamless lending experience. The platform uses permissionless smart contracts, ensuring secure connections between NFT holders and liquidity providers. Citrus enables the creation of fully customizable loan offers, allowing users to set terms, duration, and amount based on their preferences.

Borrowers who lock their NFTs for loans have assets that remain frozen until the loan is repaid or defaulted. Citrus also allows borrowers to list their NFTs with loan terms, a breakthrough in NFT lending protocols.

The platform offers reduced fees for FFF holders and notifies users about loan status changes, offering 24-hour and 2-hour reminders for repayment. Projects with a market cap of 2.5M USD or higher are already included in the starting list, and Citrus is open to considering other Solana NFT collections.

Famous Fox Federation is the first NFT staking project on Solana. As an NFT holder, you can take your Fox for a minimum 3 days and accumulate $FOXY tokens. Once claimed, you'll be able to use these utility tokens for upcoming mints, new generations of Foxes, and a whole slew of other features to come.

- Famous Foxes earn 100 $FOXY a day.

• Famous Foxes Foes & Friends earn 100 $FOXY a day.

• Transdimensional Foxes earn 25 $FOXY a day.

Missions in the Famous Foxes ecosystem are a gamified version of Staking, involving specific Fox traits, Levels, Dens, and sometimes NFTs from other collections. They run for six days, starting on Sundays at 1600 UTC and ending on Thursdays at 1600 UTC, with no option to end them early.

Foxes sent on Missions are considered "Stalking" and qualify for any utilities. Both Famous Foxes and Transdimensional Foxes, as well as Friends & Foes, can participate. Completing missions earns Foxes FAME and Treasure Chests, with different rewards based on the Fox type. TFFs earn FAME four times slower than FFFs and receive one Treasure Chest permission, while FFFs get four.

Missions have specific requirements that Foxes must meet. Some missions also need Dens that match the mission's attributes. Adding rooms to your Den can also qualify it for a mission, and you can burn rooms directly as a one-time Den for missions if you lack a Den.

Dens themselves don't earn FAME, but they boost the FAME earned by your Foxes during the mission. New missions are announced on Discord a few days in advance every Sunday, and these missions can involve single or multiple foxes, all contributing to earning FAME used to calculate your foxes' levels.

Finally, holders are free to transact their NFTs on the Token Market. The Token Marketplace allows convenient buying and selling of whitelist tokens. The service costs 2% of the sales price, but it's free for individuals with a minimum of 1 staked FFF/TFF.

As the Famous Fox Federation brand expands, NFT holders will be able to continually earn rewards. Whether you are hodling for a season or longer, the Famous Fox Federation ecosystem continues to explore new ways of keeping holders engaged.

Who created Famous Fox Federation?

Famous Fox Federation was created by Draxx, FoxyDev, and their artist in 2021. Most events revolve around Draxx and his journey into the NFT world.

Draxx is the co-founder of the project and he’s currently involved in the long-term vision for the Famous Fox Federation ecosystem.

Draxx began his career in the stock investment world, delving into speculative ventures like naked calls and puts around 2016. However, it was a captivating news story in 2016 that truly fascinated him. He recalled a person in a poverty-stricken area with a cardboard sign displaying their Bitcoin address, which had accumulated around $50,000 through public contributions. The realization of the potential of blockchain and the transformative power of cryptocurrencies profoundly impacted Drax.

His first Bitcoin purchase was in 2017, starting at around $850 per BTC and ETH at $12. Despite the market's rally to almost $20,000, Drax admitted to a regrettable early sale, missing out on significant gains. His crypto investments intensified during the market downturn in 2019, followed by successful gains during the 2021 market rally. His interest in CryptoPunks also surged in early 2021, after dismissing the initial high values these digital assets held.

A small group of around 12 friends in a crypto Discord shared insights and identified a unique skill set among them that sparked the idea of creating a more meaningful NFT project. This group eventually gave birth to the Famous Foxes Federation, aiming to stand out in a market dominated by monkey-themed projects. The team saw the fox as a distinctive symbol that resonated with their vision and values.

By September 2021, they started marketing, initially focused on an Ethereum launch but later pivoted to Solana due to challenges in launching on the Ethereum blockchain. The Famous Foxes' minting took place on September 30, 2021, marking the official journey of the project.

The mint price was 1 SOL – around $220 at the time. It only took 48 hours for the collection to be sold out.

Draxx is one of the three co-founders - himself, Foxy Dev, and their artist, supported by additional part-time collaborators.

The Fox Federation's offerings comprised four different collections, starting with the Genesis Famous Fox Federation collection of 7777 line art-style pieces.

On October 18, 2021, they also introduced 7777 pixelated foxes, called the Trans-Dimensional Foxes, along with 3,000 Dens serving as an NFT Gallery gamified within their ecosystem. Additionally, there were approximately 50 Famous Fox Federation Friends and Foes, collaborations with other artists gamified into their project. These pieces were obtained through auctions.

Their features extended beyond mere artwork. The Federation was the first to introduce on-chain staking on Solana, offering a native token called $FOXY. They provided multiple utilities, including Foxy Swap, on-chain messaging, a minting tool, a raffle tool, and more, ensuring a robust ecosystem for their users. The team also facilitated an aggregate sweeper tool and a bulk NFT sending feature, leveraging the Solana network's unique characteristics.

Their staking mechanisms also involved a gamified version wherein foxes embarked on missions and returned with fame (experience) or chests that contained various rewards, creating an engaging and rewarding experience for their community. The platform also supported a commission marketplace for artists and collectors to transact.

Drax expressed pride in the Federation's organic growth, balancing effective marketing with delivering genuine value to users. The continuous evolution of the Fox Federation's ecosystem showcased their commitment to providing a comprehensive and engaging platform for their community.

Who is developing Famous Fox Federation now?

Famous Fox Federation is being maintained by Draxx along with 13 team members.

Maintaining community engagement involves various activities, particularly gamified missions that take place every week. These missions offer rewards and are highly anticipated by the community. The platform organizes group parties, where people open chests together to see what rewards they receive, building excitement around these activities. The raids, limited yet rewarding challenges, fill up rapidly, enhancing the level of engagement.

The Fox Federation offers different sub-groups within their community, catering to various interests. These include the Coke Dow, and K-pop Alpha group, among others, representing different tokens and community interests. The updates, sent twice a week, keep the community informed about forthcoming missions and updated items. To foster engagement, they leverage platforms like Questive to encourage users to tweet and engage, earning extra tokens and boosting exposure. This helps drive new engagement and attention to the platform.

Their commission marketplace, Twitter quests, and token market activities are the main drivers for community engagement. For instance, they tweet about the artists and work being done in their commission marketplace, which attracts more engagement. Additionally, their token market, with a significant volume, serves as a hub for various projects, bringing more traffic to their website.

In contemplating the future of Famous Foxes, numerous plans are under development, looking ahead to understand the market's landscape in the coming years. Among the significant areas of focus are the burgeoning metaverse and gaming realms. The team is investing efforts into crafting 3D Fox assets for immersive metaverse experiences. Additionally, they're exploring the enhancement of gaming experiences by introducing groundbreaking features.

As they tread the metaverse path, the team has identified portals and voice chats as promising avenues, aiming to forge a more engaging and interactive community experience. They foresee the potential to make their avatars stand out in the metaverse, offering a new level of marketing and identity representation.

Furthermore, they're engaged in the evolution of their Foxes through trait upgrades. Collaborating with an esteemed artist, Zeno, they're meticulously designing unique traits, bringing diversity to the visual aspects of the Foxes. While already unveiling Tier 1, the forthcoming releases of Tier 2 and Tier 3 hold promise for exciting upgrades.

Moreover, the team's efforts extend to crafting a robust music NFT marketplace and a commission marketplace for artists to engage with the platform. Through all these initiatives, they aim to continually improve the platform's quality and user experience to ensure it thrives in the current ecosystem.

What sets FFF apart from other PFP projects is that they have a hefty roadmap. In two years of existence, the team has launched a generous bundle of services for the NFT holders:

⦁ P2P Multi NFT swap

⦁ First ever mint with a native token $FOXY

⦁ Social media integrated metaverse with Dens

⦁ NFT Messaging Service

⦁ First Floor Sweeping Tool

⦁ Bulk Transfer Tool & Bulk Listing Tool

⦁ First-ever OTC Trading Post

⦁ Gamified Staking (Missions)

⦁ P2P raffle service

⦁ Chrome extension integrated with their tooling

⦁ First P2P WL Token market

⦁ P2P Raffles and Auctions Platform

The FFF project is being guided by the core team alongside the FoxyDAO. All milestones outlined above have been completed and voted on by the FoxyDAO.

FoxyDAO is also in charge of the project treasury. As of 2023, the FFF community donated over 125,000 USD+ towards causes that the community suggested and voted on.

Investors are also an important component of any NFT ecosystem. Although they don’t get involved directly in the governance of the project, they do exert an influence over the brand’s expansion into the mainstream. As of 2023, Famous Fox Federation hasn’t announced any plans for strategic fundraising.

How does Famous Fox Federation make money?

Now, let’s get to the juicy part – how does Famous Fox Federation make money?💰 (No, flipping and rug pulling are not the correct answers)

The answer to this question is strongly related to intellectual property.

Think of popular trademarks such as Mickey Mouse, Spider-Man, or Coca-Cola. Every time you see movies, books merch, or posters with them, know that the owners of the IP get a share of the profits. The same thing goes for NFT holders, in theory.

When it comes to NFTs, it’s quite challenging to fit them into the traditional framework of copyright law. To give more context, owning an NFT doesn’t mean holders have automatic control over the creative work. This creative control needs to be granted by the creator.

As such, NFT holders should pay attention to what IP rights, if any, come with owning the NFT.

The FFF team has authorized the use of the IP of any individual's owned Fox. This means NFT holders have full commercial rights to the art in their owned wallets. There are no monetary limits on earnings on merchandise, derivatives or other commercial uses. For more details read the terms & conditions.

Another way of generating revenue is via royalties. As of 2023, Famous Fox Federation earns 4.2% from every secondary sale.

The mission of Famous Fox Federation is to position the brand strategically in the entertainment industry and beyond.

In 2022, the team unveiled Roadmap 2.0. Also, efforts are underway to raise additional capital through expanded services such as raffles, auctions, and more.

The roadmap includes a dynamic range of innovative initiatives, with a focus on the following:

Website Redesign: An upgraded platform to comprehensively showcase FFF's offerings and new tools, ensuring a seamless user experience.

Raid Missions: Enabling larger missions involving multiple foxes, providing opportunities for broader participation.

Music Marketplace (BoomBox): Partnering with HooliGang to introduce a dedicated music-only NFT marketplace on Solana.

Fox Rentals: Allowing users to safely loan out their Foxes & Dens to participate in missions for $FOXY.

FFF Merch: Designing and launching exclusive FFF merchandise including hoodies, shirts, coffee mugs, and more.

FAME Leaderboard & Upgrades: Incorporating FAME as an integral part of the FFF ecosystem, with purchasable options and a dedicated leaderboard.

Raffle Service: Facilitating verified NFT raffles with customizable settings while ensuring a portion of proceeds benefits the FFF treasury.

3D Foxes: Commissioning 3D versions of Foxes for metaverse integration, available for unlocking via FOXY.

FFF Browser Extension: Offering convenient access to FFF tools like Ding!, FoxyList, and FoxySweep on Magic Eden.

SPL Token Market: Introducing a marketplace enabling listings for native SPL tokens, supporting various projects within the ecosystem.

Hype-O-Meter: A $FOXY-powered meter encouraging community engagement and unlocking rewards as milestones are reached.

Mission Items: Adding diversity and excitement by introducing tokens and potential crafting or disintegration features for future missions.

The completion timeline for the Roadmap remains uncertain, with estimations ranging from weeks to years. This unpredictability adds an element of anticipation as the Famous Fox Federation sets out on this innovative and groundbreaking journey.

Where can I buy Famous Fox Federation?

You can buy Famous Fox Federation on OpenSea and Magic Eden.