## Shark Island Product Document

Shark Island is a NFT project releasing an edition of 1/1 Genesis Sharks via Nounish auction and a corresponding set of generative Shark Pups

### Definitions
- Genesis Sharks
- 47 1/1 pixel renditions of Sharks put up for auction at a regular cadence
- Pups
- Derivative pieces made from those original artworks that are minted via mint pass or the ongoing faucet
- Majority will be pixel art - "Pixel Pups"
- Some may be illustrated - "Illustrated Pups"

### Art

Shark Island is a celebration of Nounish pixel art and web3 collaborative creation

- Genesis Shark creators include
- Original Nouns artists (Nounders)
- Established web3 pixel artists
- SharkDAO community members
- SharkLabs creative team

- Shark Pixel Pups are generated using a Genesis head and randomized traits
- Trait set created by community and SharkLabs
- Shark Illustrated Pups would be created by Messhup
- Exploring feasibility of implementing into on chain pup minting

### Release
- Pre-Auction
- There will be purchasable mint passes for redeeming Pups
- Through an allowlist open mint to aligned communities, applicants, and SharkDAO members
- Can have multiple slots per address, but will be capped
- SharkDAO members also receive one free pass claim per person
- A portion of supply will be distributed to the SharkDAO Treasury, Contributors, and the Team
- During Auction
- 47 1/1's up for auction at a regular cadence
- Faucet Mechanic
- Every auction cadence, X supply of Shark Pups will be available to mint
- X supply is dynamic and will change during each auction cadence
- supply adjustment mechanic TBD

### Minting your Shark Pup
- Genesis Auction cadence: ~7 days
- When a Genesis Shark auction is occuring, holders can redeem their mintpass for corresponding Shark Pup(s)
- Head trait will be the same, but all other traits can be different
- Certain traits will be rare
- Ultrarare illustrations
- Holders can also choose a randomized option that will mint pups based on the Genesis set minted to date

### Governance Expansion
- Shark Island NFTs allow you to vote in SharkDAO
- Hybrid ERC20 and ERC721 voting model
- NFT governance feels more Nounish

### Website Updates
- Shark Island becomes an interactive destination for SharkDAO
- Navigating the island brings you to areas for different activities
- Shark Island will be dynamic, featuring different art and interactions over time

### Post-Launch
- ETH will be allocated from the primary sale (detailed in SIP) for continued Shark Island development
- Exploring $SHARK token staking mechanics and how they can interact with Shark Island
- Potential L2 migration for expanded NFT utility and world building possibilities