$KOTO & $ANTIKOTO

$KOTO and $ANTIKOTO do not have max supplies, and will not be tradable — at least not at launch. $KOTO will be minted on demand and as needed by the Studio Mirai team, and will be used for the exact same purpose that it is currently used for in the Studio Mirai Discord. To enforce the no-trading rule, the smart contracts for both $KOTO and $ANTIKOTO will have built-in rules to block interactions with non-whitelisted smart contracts.

The reality is that the NFT industry is still in its infancy. At Studio Mirai, everything we’ve done up to this point has been a series of experiments fueled by good intentions and a sense of “we want to do good by our community”. When it comes to releasing NFT collections, there is no proven playbook that outlines the correct sequence of steps to take in order to find success. So if NFT projects, us included, are still experimenting with how to leverage the technology in meaningful ways, how can we genuinely commit to tokenomic frameworks with set parameters like supply caps and burn mechanisms? The truth is “we can’t in good faith”.

Thus, our strategy is to launch $KOTO will have no supply caps, no burn mechanisms, etc. We will continue using $KOTO to fulfill its existing use case as an engagement currency. Over time, we will analyze how $KOTO is used, perceived, and valued by our community. With the real-world data and community feedback, we’ll be in a much better position to design a sustainable and data-backed tokenomic model for $KOTO.

If there is no practical difference between in-Discord $KOTO and on-chain $KOTO, then why even make the change in the first place? While it’s true that both in-Discord $KOTO and on-chain $KOTO are both distributed by Kotaro, moving $KOTO on-chain makes it compatible with whitelisted smart contracts. For example, $KOTO will be used to upgrade Studio Mirai NFTs, redeem discounts for Mirai TCG cards and MiraiMart merch, and more.