While Sync City envisions many NFT collections and uses in the near future for our clients, this whitepaper will focus on the specific Sync City collection linked to Helium hotspot names (Tay’s Sync City Helium Hotspot Collection).  This collection is currently on OpenSea at : https://opensea.io/collection/tays-helium-hotspots .

Each Sync City Helium Hotspot NFT will be introduced to the community through the minting (NFT creation process) to the owner of the physical hotspot only.  This will require Sync City to validate Helium wallets of individuals who want to obtain their Helium hotspot’s corresponding Sync City Helium Hotspot NFT.  

(1) The owner of each hotspot will be required to first verify their wallet by sending a small fee in HNT (Helium crypto currency) to Sync City’s HNT verification wallet.  This is used to ensure that NFTs are only issued to owners of helium hotspots.

(2) Next, the hotspot owners can choose which hotspot(s) they would like to have minted and sent to them.  Each minting will also require the hotspot owner to send HNT to Sync City’s verified HNT wallet.  

Once the Ownership NFT has been issued to the owner, additional NFTs will be issued as part of the “family” of NFTs.  These include a Sync City Token NFT, Artist NFT, Sync City NFT, and Lease NFTs totaling 5 initial NFTs.

Ownership NFT – Can only be sold along with the physical hardware.  Serial numbers and additional support information can be linked to this NFT later.

Sync City Token NFT- Disburses Sync City Token to NFT holders on a set schedule.  

Artist NFT – Ownership rights of artwork.  Allows creation of physical artwork (if the holder pays a fee).

Sync City NFT – Copy of Artwork and shows creation to Sync City.  Issued to Sync City.

Lease NFT(s)- Allows owners to create a lease agreement with a host and assign a Smart Contract for HNT reward disbursements.  One hundred of these are created at the time of minting representing 1% each of the HNT mining rewards.

100% of the profits from the NFT creation will be used to add liquidity to Sync City Token.

The NFT collection will be revealed and released once 5000 families of hotspot NFTs have been sold (5000 individual hotspot NFT sales).