Checks VV is a collection of NFT based on the Twitter verification logo created by Jack Butcher. Checks NFTs are unique digital art pieces that represent different personal development concepts, such as "Solve for X" or "Get Comfortable Being Uncomfortable". Each NFT features a visual representation of the concept, along with a written explanation and a set of actionable steps for implementing it in one's life.

Overview

Checks launched on January 3rd, 2023, with a symbolic mint price equivalent to the Twitter Blue Tick subscription cost. ^[2] The series of Checks NFTs consists of digital art pieces in the form of checks, which are stylized images that resemble bank checks. Each Check features a unique design and different message or concept related to Butcher's personal philosophy on life and business, such as "Invest in Yourself," "Create More Than You Consume," or "Find Your Voice." Jack Butcher described the Checks NFT series as a "visual exploration of philosophy, strategy, and self-improvement."^[8]

Architecture

Checks NFT is a platform that allows creators to mint, sell, and trade NFTs that represent checks.
Here is an overview of the architecture of Checks NFT:

1. Smart contract: The smart contract is the backbone of the Checks NFT platform. It is deployed on a blockchain network (such as Ethereum) and is responsible for managing the creation, ownership, and transfer of Checks NFTs. The smart contract also includes the business logic for the Checks NFT platform, such as setting the rules for the sale and trade of Checks NFTs.

2. Metadata: Each Checks NFT contains metadata, which includes information about the check that it represents, such as the payee, amount, and date. The metadata is stored off-chain, typically on IPFS (InterPlanetary File System), a decentralized file storage network.

3. Front-end: The front-end is the user interface of the Checks NFT platform, where users can browse, buy, and sell Checks NFTs. The front-end communicates with the smart contract to perform transactions on the blockchain, such as minting a new Checks NFT or transferring ownership.

4. Wallet: A digital wallet is required to hold and manage Checks NFTs. Users can use any Ethereum-compatible wallet, such as Metamask or MyEtherWallet, to interact with the Checks NFT platform.

5. Blockchain network: The Checks NFT platform is built on a blockchain network, which provides the security and immutability required for the creation and transfer of digital assets. Checks NFT uses the Ethereum network, which is the most popular blockchain platform for NFTs.

The use of a smart contract, off-chain metadata storage, and a blockchain network ensures that the platform is transparent, secure, and resistant to fraud. Butcher also emphasized his commitment to transparency and what the difference is between projects that fail and succeed:

"It is proven that there's merit in being very transparent about the fact that you don't have everything figured out."

Collections & Derivatives

Humanity Check

Following the earthquake that affected vast swathes of Türkiye and Syria in 2023, Jack Butcher announced the launch of the Humanity Check collection.  This charitable collection is being used to raise money for Doctors Without Borders, which are supporting people in the two countries where the death toll has exceeded 10,000 just days after the quake. The NFTs resemble the Genesis Checks but instead have a red cross design and a mint price of ETH 0.0066.^[2][4]

Checks - Squiggle Edition

These checks imitate the Art Blocks Chromie Squiggle collection. ^[2][5][6]

Dawn of Check

Beeple’s take on Checks, combining Pepe and Planet of The Apes themes. 

Persistence of Status

The legendary style of the Spanish artists Salvador Dali and Checks.^[7]

Burn Mechanism

Jack Butcher developed an idea loosely based on Damien Hirst’s ‘The Currency’ that allowed users to get their hands on physical art by burning NFTs. ^[1]

On January 8, 2023, a few days after launch, Butcher tweeted,

“To extend the premise of the original piece — the question we are trying to answer is: are checks more desirable if they are harder to get?” and then added, “We can find out by incentivizing a reduction in supply. The burn mechanic that we're developing basically takes after this concept that I dug up after the fact called a semi perfect number,"

80 is a semi-perfect number because some of the factors of 80 (excluding 80 itself) add up to 80. The factors of 80 are 40, 20, 10, 5, 4, and 1. If one adds all those numbers together, one gets 80.^[9]

The Checks team has developed a mechanism whereby NFT holders can burn a set of Checks to get a new NFT with fewer ‘ticks.’ The process is illustrated on the website and involves halving the number of ticks with every burn. For example, if someone owns two original Checks with 80 ticks, they will be able to burn them to get one Check with 40 ticks. Then if they burn two 40s, they will end up with one 20. Following this process, eventually, one ends up with just one tick.

Butcher explained in a tweet,

“What this does: rewards every collector, creates new, original, on-chain work, and every interaction either maintains or reduces supply.”

On February 12, 2023, after weeks of anticipation and the introduction of Checks migration, Butcher initiated phase two of the project by introducing a burn mechanism.^[9]