Dreamloops Album Redemption Update!
Greetings Dreamloops holders!
We will soon be turning on our redemption portal for owners of redeemable Dreamloops. This guide explains how it will work and what to expect in the coming weeks.
Metadata Updates
First, as most of you know, to claim a physical pressing of the Dreamloops album, your Dreamloop must first have the appropriate “Redeemable” metadata, specifically, it must be tagged with Cassette, Vinyl, or Vinyl & Cassette. Second, a redeemable Dreamloop must be unwrapped and have been held in the same wallet for a total of 182.5 days or greater to begin the redemption process.
Once a redeemable Dreamloop has been staked for 182.5 days, some metadata changes will occur!
Presently, the “Redeemable” category for Dreamloops has four states:
- Not Redeemable
- Cassette
- Vinyl
- Vinyl & Cassette
Soon however, we will add the following four states:
- Cassette — Ready for Redemption
- Vinyl — Ready for Redemption
- Vinyl & Cassette — Ready for Redemption
- Already Redeemed — Not Redeemable
Essentially, once an unwrapped, redeemable Dreamloop has been in the same wallet for 182.5 days, the metadata will change indicating it is ready to be claimed through our redemption portal.
Once a redeemable Dreamloop’s metadata has changed to indicate that it is ready for redemption, it will keep this status until it is redeemed. That means, you can send it to a friend, sell it on OpenSea, or move it to a different wallet - and still it keeps the Ready for Redemption metadata status. This was a slight change to the initial protocol that was chosen by popular demand among our Discord users.
Note, if you move a Dreamloop to a different wallet before this status has changed, the timer starts over. An unwrapped, redeemable Dreamloop must stay in the same wallet for 182.5 uninterrupted days in order to become ready for redemption.
Once a physical item, cassette or vinyl, has been shipped to the holder, the metadata for that Dreamloop will be changed to Already Redeemed — Not Redeemable. Each redeemable Dreamloop may only claim a physical album once.
Redemption Process
Soon there will be a change to the My Bitlectro portion of our website. You will be able to access your Dreamloops on the site using a simple toggle.
Your redeemable Dreamloops will show how many days remaining before they can be redeemed.
Once a redeemable has met the staking requirement — this field will change to a button that starts the claim process.
Fill out the fields in the form and click “Submit.” This will begin the redemption process. You will receive an email once your physical copy of the Dreamloops album has shipped. There is no additional shipping cost for you to claim your physical album. If there are any special instructions regarding your shipping address, please shoot us an email via admin@bitlectrolabs.com or let us know in the #support channel of our Discord.
Note, after submitting the form to receive the physical album, DO NOT sell or transfer your Dreamloop until we have notified you that your album has shipped. You may also want to verify that the metadata has changed on OpenSea to reflect that the item has been claimed (e.g., Already Redeemed — Not Redeemable). If you transfer or sell your Dreamloop after submitting the form before we ship it, you will not receive the physical. This is to prevent users from pre-emptively selling Dreamloops that have been redeemed before we have updated the metadata of those Dreamloops to reflect that they have been claimed. We verify that each submitted Dreamloop is in the same wallet before shipping every order.
Timelines
The Redeemable metadata states will begin to change today, December 13.
However, the redemption portal will not open for several days. Due to some supply-chain slowdowns, we are still waiting for final shipment of some physicals to our fulfillment partner. We thank you for your patience with this.
There are some nice surprises within the Dreamloops album that we hope you will like and we are very excited for our early supporters to begin receiving the physical albums!
Additionally, we will have a metaverse based listening party for the album soon! Date to be announced!
Links
To speak with the team directly about the project, please join our Discord: https://discord.gg/bitlectro
Follow our Twitter for the latest giveaway and release announcements: https://twitter.com/bitlectro
