TEAM RED X

Meet @ Web3 Proposal for a new form of community for Web3.

RED X will regularly hold online and offline physical events in collaboration with IP.

Many Web3 projects use Telegram channels and Discord for community building and active communication between users and management. However, we at RED X would like to propose the concept and mechanism of TEAM on the blockchain.

What is TEAM RED X?

TEAM RED X is a feature within the RED X community that allows the creation of teams based on themes either spontaneously or provided by the RED X project. Team formation and participation can be set with specific conditions. Members participating in the RED X journey have various motives; some aim to make a profit with tokens, while others seek to purchase exclusive merchandise related to their favorite animations or participate in events.

Each individual can enjoy their own intentions without anyone interfering, by joining others with similar motivation in the RED X journey. That is TEAM RED X.

1. TEAM composition

   To form a TEAM, you need to add the RED Identity of other members to your Contact. First, invite at least 5 other RED Identities to get their approval. The specific number of initial members must hold a certain amount of RED X in the wallet linked to their RED Identity. The initial team participants are called TEAM Founder

2. What you can do with a TEAM composition

   • You can issue NFTs for group members with NFT Connect.

   • TEAM can hold a single TEAM wallet.

   • Group members can sell NFTs to members who meet the conditions mentioned later (or unconditionally) for free or at RED X. The revenue from these RED X sales can be held in the TEAM wallet or distributed by the TEAM Founder.

3. Setting conditions for joining TEAM.

   TEAM Founder can set the membership requirements for TEAM as follows:

   • Possessing a specific NFT

   • Owning a specified number of RED X

   • Staking RED X for a specified number of tokens or duration

   • Paying the membership fee in RED X, with revenues distributable to the TEAM Wallet or TEAM Founder

   *Please note that holding the set amount of RED X is a mandatory requirement for participation in any TEAM.

4. TEAM Community

   Once a TEAM is formed, you can create a community exclusively for TEAM members on Telegram. This group is different from typical channels or groups, allowing for setting membership conditions. You can integrate Web3 Connect with RED X Wallet for wallet authentication, enabling seamless connectivity. Although the community is created on Telegram, you can use RED Identity instead of Telegram ID. Additionally, within the TEAM's Telegram community, members can send tokens limited to REDX to each other.

   Note that further conditions can also be set for the community:

   • Own a specific NFT (re-authentication of the NFT used at TEAM admission)

   • Sub-channel requiring admission approval by the Founder

   • Sub-channel only for specific RED Identity

   • Sub-channel admission restriction based on the participation period in TEAM

5. Usage of NFT for TEAM members.

   Issued TEAM member NFTs can be used in the following ways. Note that issuing TEAM member NFTs requires RED X.

   • NFC/QR code for event ticketing

   • Participation key for TEAM’s Telegram closed community

   • NFT buying and selling (reselling is also possible)

6. TEAM Wallet

   The TEAM's shared wallet is the asset of all TEAM members, but by collecting tokens, a wide variety of things are possible. It is also possible to conduct Web3-type businesses that monetise, or to collect a large number of tokens in one place to earn interest on favourable terms through staking, etc.

   • The DAO-like TEAM business (profit is divided proportionally according to the amount of investment, etc.).

   • The DAO can be built on a business promotion basis, such as crowdfunding.