Commission to create 10 “Creatures of Cryptozoology” NFTs for the ShapeShift DAO Treasury

Commission to create 10 “Creatures of Cryptozoology” NFTs for the ShapeShift DAO Treasury

  1. Summary -

My proposal is to create 10 “Creatures of Cryptozoology” crypto animal themed NFTs, creatively telling the history of crypto over the years through these animals.These will be awarded to the ShapeShift DAO treasury for resale/auction as an income potential. A few of the animals I may include are: unicorn, bear whale, honey badger, alpaca, shibu, bear, bull…all the fun animals.

  1. Abstract -

This proposal will include 10 custom animal themed digital art pieces, each individually minted and transferred to the Shapeshift DAO. Each piece will be uniquely its own and share the history of cryptocurrency through these 10 animals. These pieces will be the DAO’s to auction off, sell or hold onto as they see fit for the greatest benefit of the DAO.

  1. Motivation -

After my first proposal, creating the 10 NFTs for the contributors of the ShapeShift DAO, I fell in love with ShapeShift’s robust DAO community and want to continue to create and help share the visual culture that is forming here. I see art as a connector in these communities helping memorialize what is happening in this space.

I also received many requests from the community to create more NFTs for the DAO and felt this next proposal could not only give back to the community but also continue to enhance the value of FOX and the ShapeShift DAO brand.

My hope is to add value outwardly to the DAO by getting involved in the NFT community, bringing new artists into this community and making space and excitement for other creatives to share their gifts.

If you would like to see the collection I created for my first proposal you can view that here: https://opensea.io/collection/shapeshiftdaonfts.

  1. Specification -

I will create and mint 10 NFTs that will be transferred to the ShapeShift DAO that will be delivered at the rate of 1-2 pieces per week at the cost of 2800 FOX per piece totaling 28,000 FOX. I will be in charge of delivering the NFTs to the correct address and help coordinate with the DAO treasury. I will put a 10% commission on secondary sales into the NFT contracts (via OpenSea) and I will give ½ of the proceeds back to the DAO when it sells and/or resells for the lifetime of the NFT.

  1. Benefits -

This is an opportunity for revenue creation, a unique marketing angle and excitement for the DAO. It is a way to help the DAO become involved in different communities therefore drawing in new members.

Art is a form of communication and by adding in some visual mediums into the DAO could help the DAO expand its reach.

Along with the initial sale of the NFTs there is an infinite possibility of further secondary sales, thus adding even more revenue back into the DAO.

  1. Drawbacks -

The NFTs may not sell as quickly as the DAO would like or at a lower price than wanted at first.

  1. Vote-

A “for” vote would mean funding 28,000 FOX in order to commission the creation and minting of 10 individual NFTS. Those NFTs would be transferred to the ShapeShift DAO treasury for sale/auction.It would also mean gaining 5% of any future sales of these NFTs.

An “against” would mean no creation of NFTs for the ShapeShift DAO treasury.

7 Likes

Can you explain this for me?

Will you be selling the NFTs yourself once they are created? So 28,000 to commission them (about 840 USD/piece)? Then selling them the DAO would receive 50% of the sale? Making sure I am understanding this right.

2 Likes

Can we add onto this a rider to the ShapeShift Store proposal to commission limited run posters be made of each of these NFTs as well? not sure how that works with NFTs and such.

1 Like

Well… i love art and as a marketer i agree that it adds value to the brand. We speak digital so our art is digital.
reggarding funds, it’s reasonable that 5% of resellers being directed to DAO (it can be a source of income/ROI).
Let me know if I made the correct math:

~868,92 per piece @ ½ for DAO = 434,46 x 10 = USD 4.344,635 DAO’s commission ?

I like the NFTs initiative so I’ll stay tuned :grin: :v:

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Basically I will pay the minting costs of the NFTs, it has been ranging around $50-300+ dollars recently and I try to find the best cost within reason, my goal is always below $80 but hasn’t always been possible so some of that amount will go towards that cost.

Then the NFT will be transferred to the DAO. From there, there is a 10% that goes back to the artist anytime the art is resold (me in this case), this is typical in the NFT world, but 5% will go back to the DAO on top of the 90% that the DAO gets from its initial sale.

Simple math example: NFT sells for $100, the DAO gets $90, I get $5 and $5 goes back to the DAO. Then if next person sells the NFT for $100 at another point that 10% goes back to me at the ratio of 5% to myself ($5) and 5% ($5) to the DAO. Including that in the original contract on OpenSea allows for 10% percentage of all future sales to be given to the DAO and myself.

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We can definitely add this into the proposal if the community is wanting something like this.

I believe there have been people asking for the first 10 from my first proposal as posters. I can chat with Uncle Dude about it and see what that might take.

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Close but the DAO will actually receive 95% of any sale or resale. I just responded to CryptpMeg with a math example.

NFT sells for $100, DAO gets $90, I get $10 with $5 of that going back to the DAO. Then if resold again…5% to the DAO, 5% to me.

Hope that is making sense.

1 Like