SIMPLE SOULS GEN 1.0 WHITEPAPER Welcome to Souls Inc. My name is Noro and at this moment of writing, I am 21 years old. Throughout my time in the NFT space, I have witnessed some projects flourish and others fall, and that is due to the nature of this market being extremely volatile. In this first edition of Souls Inc.’s whitepaper, I’d like to raise a few pointers around the factors that contribute towards the success of any NFT project..or for this case, what we intend on doing in order to integrate from an NFT project into a business : 1. Utilities 2. Community 3. Transparency 4. Sustainability Utilities There have been and still are many projects that offer great utilities, such as staking (focusing on tokenomics), access to private lounges (exclusivity) and DAOs (offers easier access into other NFT projects as well as a voting system). However, as many of you would have come to realise, this is not something we are focusing on. We feel that in the long run, the money can be better spent elsewhere since staking features tend to drain the liquidity pool and in a way is a bit like attaching a dynamite to yourself with an invisible fuse that you’ll never notice until it reaches the end. At some point in time it’s going to blow up in your face when either the liquidity pool gets drained or the sustainability of the project is no longer up for debate. We at Souls Inc. believe that we should be putting our time and money towards benefitting customers in the long run with benefits that are obtained and redeemed in the physical world. Allow me to explain. Souls Inc. long term goal is to be a global company that caters to multiple fields of entertainment, innovation and services. We wish to give people the opportunity to immerse themselves in fields of interest that they would otherwise have a hard time gaining access to through our many connections that will be formed, if not already being formed, with people in high places as well as people who are just starting off but have so much to prove to the world. Some people have already summed up that in a way our long term goal is to essentially be the product of Apple, Amazon and Gaming if they all had a baby together. Whatever the case, we intend on being a company where people who previously invested in our NFT project will be able to continue using those NFTs to : 1. Continue receiving the benefits of each NFT collection. 2. Convert them into shares and invest into our company with a better safety net due to the stock market’s movement being determined by a company’s quarterly returns, overall reputation as well as innovative actions taken and not by hype. 3. Indulge in both sides and benefit in two completely different markets. Little Insight A lot of you will have a rough idea of what we wish to achieve with this project, but allow me to clarify it so that we can all move together in the right direction. Our starting point in the NFT world is to have an easier chance at obtaining a community, while gathering funds for our long term goal. Souls.Inc is a company that will provide those who invested in our NFT project an opportunity to invest in the many opportunities we will offer, such as our own esports team. With every esports event, a prize pool is always won. Holders of our NFT will be able to get a cut of every prize pool we win. The same goes for the technology department. Every bit of success within the company will give you a portion of our profit. We are essentially treating NFTs like shares, but with more benefits than simply earning money So what are the benefits of minting our NFT? NFT Market Depending on the collection you bought, the benefits will differ : Gen 1 1. You will receive a cut of the mint sales (if you hold for at least the first month without listing or moving it to another wallet, otherwise you will lose this benefit) as well as weekly airdrops including a cut of the secondary sales from that week (with compound interest for every week you hold without listing or moving it even once, you will lose this benefit if you transfer or list it even once.) 2. Private lounge (digital at first but physical once company is established which you will have access to) 3. When our company is established, you will also be able to have special access to private events fully funded by us to celebrate those who are OG holders. 4. Access to DAO 5. Access to special giveaways as well as private events while waiting for Gen 2. Gen 2 WILL BE RELEASED SOON (03/2022) Gen 3 WILL BE RELEASED SOON (04/2022) If you bought all three collections, then yes there will be some benefits that will stack, but for the most part, each collection aims to provide you with different benefits to give you a reason to buy all.At this point in time, we would like to remind you all that this is not the full plan, this is simply a roadmap for us to follow in the early days and it will get better, change up and evolve. Community As many of you who are currently in our private discord would know, we have an extremely strict filter with the selection of our whitelisted and OG members. On top of that, we will not hesitate to remove people regardless of which DAO you come from or whether you are a popular influencer. This filter is required in order to ensure that the community works well with each other, and all who are in there do not have to worry about harassment, toxic/hate speech or threats. This is a factor that many companies fail to remember, that without the community, the company is nothing. As such, every administrator and moderator has been told that they are to have a zero tolerance approach to situations that may otherwise start major disagreements or arguments within the community. Below is a simple guide we get our moderators to follow by. Rules Reason & Effect 0 Toxicity Policy I think this is something that a lot of projects say, but barely commit to. We’ve ensured that our mods are aware of how important it is to make sure that everyone in the community feels safe. Any toxic behaviour will be dealt with immediately and appropriately. Engagement Rather than just talking or dealing with support tickets, we also believe in our moderators having fun. As such, we let them host various events to engage with the community. Inclusion Regardless of race, language, ethnicity or religion, we make certain that everyone feels invited and included in the community to ensure that nobody feels left out. With these in mind, we want to re-stress that having a good community lays a stable foundation for the future, and without them, the project can never be anything. No matter how successful we may get, the community will always be our #1 priority for we are nothing without them. In terms of financial benefits, we are aware that at the start, those who are in for a quick flip can ruin the market for those who are looking to hold onto our NFTs for the long term. While we do not make it our priority to focus on the floor price, we do want to give some satisfaction and confidence to our diamond handers about their investment. As such we have implemented a few actions to better convince people to not sell their NFTs. Action Reason & Effect Increasing Royalty Tax on Secondary Market For the first month we will have an increased royalty tax on secondary markets in order to convince people who minted to hold or else they may end up selling for a loss. In order to ensure that we don’t face a dump session once the heavy tax is lifted, we will also be gradually lowering the tax in order to have a smoother increase in market activity. 1st Week - 15% 2nd Week - 10% 3rd Week - 7% 4th Week - 5% With this, we hope that this will introduce a supply shock which will raise the floor price and overall make your investments worth it. With this, it will also counter market and whale manipulation as whales will not be able to comfortably list and delist their NFTs lower and lower causing individuals to fall for the psychological trap and undercut in order to get out of a ‘fake dip’ they thought was real. *After announcing these actions to the community, we have received a lot of positive support with this plan, and as such we will proceed with it.* Transparency Transparency is essential to building a strong and stable community. With that in mind, we have decided to mint through a launchpad called Simians Universe (@SimiansNFT) for our Gen 1 collection. In order to use Simian’s launchpad, we are required to dox the team to them, which involves us taking a picture of our face with our chat with their admins as well as a picture of our identification documents. As such, investors can feel comfortable minting our project knowing that they are not going to be scammed via rug method. As mentioned on our Twitter, Gen 1 will have the lowest supply, and that is for three reasons : 1. Build reputation through exclusive minting 2. Build trust with customers to stabilise community 3. Allow big projects to have confidence in vouching for us should there be an opportunity’ At the time of writing, many may have fallen victim to a project known as Senshi Samurai which rugged twice. This has hurt and created a lot of fear within investors and as such, we aim to be a project that is fully transparent and can instill confidence in our entire community. For starters, allow me to give you an insight to what we will be spending our minting sales on : (FOR GEN 1 ONLY) 1. Benefits paid back to holders who held onto their NFT as stated in page 4. 2. Funding of giveaways to holders. 3. Commercialisation 4. Funding of 3D graphics designing for our Gen 2 5. DAO Wallet 6. Vault remaining money. Will be saved for when we will buy physical land, hire a lawyer and fund sponsorships for our physical business. (each Gen will have an amount of the mint sales vaulted, with Gen 3 having the highest vault percentage since that will be the final collection before expanding to the physical market. Please also note that we will not be leaving the NFT markets, we will simply be branching out.) Over time we hope that with AMAs, interactions in the discord as well as being honest with all our actions, you will continue to put your trust in us for many years to come! Sustainability Every NFT’s greatest challenge, sustainability. As previously addressed, most NFT projects offer staking services which are never sustainable and are simply delaying the inevitable down fall of the project. Since we will be integrating into a physical business, we will be using our fundings wisely, making sure to spend our money on things that matter, not things we want. Sustainability lies in the ability to make smart decisions, not the expensive ones unless necessary. Our backend developer Soulzy is a very close friend and is the main reason why we do not need to spend a whole load of the funds on building our website. He will commence work from the 15th of March onwards and will be the techno-man, behind the scenes, ensuring that our website and features on there will run smoothly. Conclusion Simple Souls is a project initiated in memory of my friend Dashi who unfortunately passed away at the age of 14 due to thyroid cancer and depression. The Souls you see were previously his drawings. His wish to me was to make something good out of myself and ensure that I made the world a better place, leaving a mark on it before I leave. To me, Simple Souls is so much more than just a project, it is a life that I wish to pursue, and for that, I would give it my all to ensure this becomes a reality. With that said, I truly hope that everyone who has supported us will continue to support us. We’ve already started going out with some of you for random dinners so that you can get comfortable with us, maybe you’ll be the next one! With all that said, I thank you for reading this whitepaper that officially marks the beginning of our journey, and I hope to see many of you in the future face to face. God Bless the Soul Army and may He bless you too! Noro