What are Orbs??
Orbs are a ‘generative’ digital currency that Magnet members are able to use to pay for studio bookings, hire equipment & transfer to other members.
They are slightly different to ‘normal’ money in that Orbs are a digital only currency – so never shall a Orb be held in the flesh. ( granted this is only slightly different. )
They are very different to ‘normal’ money in that Orbs can only be spent at Magnet.
They are very, very different to ‘normal’ money in that when they are officially launched ( aiming for July 2019) they are ‘generative’. This means that when we book and pay for stuff on the Magnet website, we also generate Orbs which are credited back to our membership account.
I can’t emphasise this last point enough. Orbs are very, very different to ‘normal’ money – because when we spend Orbs, we get Orbs.
How do Orbs work?
Firstly, one needs to be a Magnet member to use Orbs. You can create a membership here . You’ll even recieve 15 Orbs just for creating a new membership. Peow .
If your a member, Orbs can be purchased here. Because they are a digital currency, the only way to pay for Orbs is with Paypal.
As a studio coordinator, you’ll already be a member. As some of your time will also be renumerated by Orbs credited to your membership balance, you’ll probably already have some Orbs. You can view your Orbs balance here.
Orbs can be spent. So, provided you have sufficient Orbs in your membership balance, when booking online you’ll see the option to ‘pay with Orbs’ at checkout. Your membership balance will automatically be deducted.
In prototype Orbs phase, you can not make a partial payment with Orbs. Ideally, you will be able to when they are officially launched.
Orbs can be transferred to other members here. So if your bandmates are savvy and are also in on the Orb game, and you’ve paid for your booking with Orbs, they can transfer you Orbs to ‘split bills’.
When they are officially launched, Orbs can be generated. In other words, when you spend Orbs, you’ll also get Orbs. When you book online you’ll be able to see the ‘generation rate’ ( the % of your purchase that will regenerate to your membership balance as newly created Orbs).
|Current Orbs regeneration rates|
|Solo Drummer Studio||33%|
How much is an Orb worth ?
To keep things simple, 1 Orb is equivalent to $1 AUD
What if we cancel our booking that’s been paid with Orbs?
No stress, if it’s outside 48 hours of the session start time we’ll credit the Orbs, back to your membership.
Can I pay with Orbs at reception ?
Nope – they are a digital currency remember – we don’t accept Orbs over the counter, only through online booking on our website.
Can I use Orbs when I book over the phone ?
Again – nope . You need to be logged in to your account to pay with Orbs.
That’s the gist. Read on to probe a bit more into the nature of Orbs…
Where did Orbs come from ?
On Friday 1 Feb 2019, to the credit of the unconscious unknown,? I woke up with the word ‘Orb’ resonating throughout my mind. I couldn’t stop ‘saying’ it to myself. It wouldn’t leave. I scanned the?cache of my mind for any portals that could open out ( in ? ) on the neural tapestry that had brought forth this single syllabled geometry into my mind. No dreams cached from my sleep the night before…just nothing. So, I asked the oracle.
\ ??rb \
1 : any of the concentric spheres in old astronomy surrounding the earth and carrying the celestial bodies in their revolutions
2 archaic : something circular : CIRCLE, ORBIT
3 : a spherical body
especially : a spherical celestial object
4 : EYE
5 : a sphere surmounted by a cross symbolizing kingly power and justice
orbed; orbing; orbs
1 : to form into a disk or circle
2 archaic : ENCIRCLE, SURROUND, ENCLOSE
archaic : to move in an orbit
and the dots began to join. I quickly penned my thoughts
- Orbs are circular / circulatory – Orbs can be transferred between members
2. Orbs are generative – When Orbs are spent Orbs are also generated
3 Orbs represent power
not centralised and monopolised for dominion, but power organically distributed, flowing and realizable – as members and in membership with one another.
4 Orbs represent justice
Orbs are granted fairly and reward us for and implicitly values creativity
Orbs represent power and justice – Orbs afford us power to combat the mandatory capatilist system we are obliged to in the mundane everyday, through a economy that rightly works for us, that gives back to us.
Orbs are a product of an anti-capitalist, people-powered imperative