[SCP-23] Official ShapeShift DAO Merchandise Store [Official Ideation Thread]

Summary

UncleDude (aka LoraxDude on Discord) is self-nominating to develop, deploy, and maintain the official ShapeShift Merchandise Store. Merchandise inventory will be curated and managed with regards to the needs/wants of the ShapeShift Community with the intention to drive brand awareness and loyalty of brand ambassadors.

Abstract

This entails that the store would be set up for the community by an LLC owned and operated by UncleDude as the proprietor with a max $8,500 initial fund by the DAO to cover costs.
The site will be setup with all the basics of a responsive premium e-commerce store (customer support, email marketing, analytics, seo, etc.)
After initial setup and the site is live, collaborations will be open between the DAO and LLC to empower and compensate community members/artists for their efforts in designing merch, with fair compensation made accordingly.

Motivation

Motivation stems from a lack of brand awareness through merch and growing demand for Shapeshift DAO members to be empowered as an ambassador of the DAO via merch.
@jonisjon has also mentioned “in the early days of ShapeShift, people have loved the brand and wanted to rep gear.”
Personal motivation in building websites for communities and quality products that I truly believe people will appreciate and emit a sense of gratitude when repping the merch.

Specification

• Any leftover funds from the initial deposit of FOX to cover initial costs, if not used, will be returned to the ShapeShift DAO.
• All profits after costs will be split between the LLC and the DAO 50-50. Distributed on a monthly basis. 30 days from the initial day the store goes officially live.
• Will hold an initial meeting within a week of funds being passed and then monthly meetings thereafter on discord (on the 2nd Wednesday at 2:30 pm pacific time - dates will be shared and listed) to gather feedback from the community on what products/designs/colors they would like to see on the store.
• Site will be planned to go live at the end of 3 months from the first meeting held on discord for community feedback on products/designs preferences.
• All brand/products logo in their highest quality files will be needed.
• Initial merch will be composed of the following:
o t-shirts, sweatshirts, jackets, hats, socks, mugs, sunglasses, pins, stickers
• Quality will be of the highest kind, given the price sensitivity of the community, to ensure products last for memories to come.
• If possible, the site will be under a subdomain such as store.shapeshift.com or shop.shapeshift.com
• Possibilities to accept payment in crypto will be explored and implemented if legally feasible.
• Given the concern with privacy, if it is preferred by the community that analytics not be used, that is an option the Proprietor can accommodate.
• Fair compensation will be expensed accordingly as royalties to member artists that created a design for a product. Sales for that specific product will be distributed on the monthly basis as mentioned previously. The artist will receive 40% profits after costs, split 3 ways with the DAO receiving 50%, and Proprietor receiving 10% for the given product.

Benefits

• New revenue stream for the DAO.
• Increase Brand Awareness.
• Increase DAO engagement through merch collaborations with the community.
• Provide economic opportunities for contributing artists to be fairly compensated through the DAO Merch Store.

Drawbacks

• Clarifying expectations, the DAO collectively might have on how designs/products are appropriate to the community.
• What transparency is required by the DAO for development, deployment, and Maintenance.
• What involvement would the DAO like to have in the design of the site?
o If nothing is determined, the Proprietor will have creative control to begin with but will be happy to gather feedback after the site goes live to revamp accordingly to that feedback.
• How might we need to consider splitting the profits from an LLC own and operated store to the DAO? Would a limited partnership be required or would be it considered a donation to the DAO or royalties or licensing expense for use of the Shapeshift brand?
• Will the Proprietor be considered under a bounty or workstream leader?
• How will the DAO and proprietor decide on approving artist work?

  • The community is FOR nominating UncleDude(LoraxDude) to develop, deploy, and maintain the official ShapeShift Merchandise Store as specified in this proposal.
  • The community is AGAINST this proposal, some or all details, and nomination.

0 voters

7 Likes

@huntthewick @PTT @luna_hawk

Please share feedback or concerns with the current proposal if you have any thoughts.

3 Likes

thanks @UncleDude! super excited for the ShapeShift DAO Merch store and looking forward to reviewing your proposal in more depth.

Q1: Are you familiar with MetaFactory? I think we should look into partnering with them on some swag too.

Was just thinking how cool it would be for all new active contributors to get a ShapeShift Starter Pack with some t-shirts, a keepkey, stickers, and maybe some printed DAO resources and/or a nice card with our Values printed out (we used to have these at the office).

Q2: Do you think the merch store could support this?

p.s. updated the SCP# to 23

3 Likes

Hey @willy thanks for updating the title.

And I am familiar with MetaFactory, I definietly agree that would be a dope partnership.

I think that starter pack would be awesome, we could definietly do that. Would definietly need some support with coordinating keepkey being included in the starter pack(who from the shapeshift team should I reach out to coordinate with?), as well as determining what information to include in the card/phamplet resources.

As far as considering execution, would it be expected for the starter packs to have it’s own unique packaging?
I assume the starter should be expected to be ready for sale at the day the site goes live.

3 Likes

sweet!

Unique packaging could be a nice to have if the price is right.

@danielle who could @UncleDude connect with to have KeepKeys sold on the Merch store and included in a ShapeShift Starter Pack?

@LPX and @graymachine, could the Info & Globalization workstream help determine what info (if any) to include? Also @meesh can you plz share any/all of ShapeShift’s onboarding docs? Would love to see what can be recycled or adapted for DAO contributors. I loved the ‘Values’ card for instance and need a new one!

3 Likes

I’d love to see a merch store. The startup costs are reasonable, as is the 50/50 profit split between @UncleDude and the DAO. I support this.

3 Likes

I think this is great and strongly support moving this forward so we have an official merch store @UncleDude ! Thanks for stepping up with this proposal!

Only thing to add is I think it’s a must that the store is able to take FOX as payment!

3 Likes

I have questions around the budget and timeline.

On the business side of things it’s $500 to incorporate an LLC and get a bank account with Stripe Atlas https://stripe.com/blog/atlas-llc

There’s no need to hold stock as a Shopify site easily integrates with Printful https://www.printful.com/integrations/shopify

Printful essentially covers all the items you have described on demand https://www.printful.com/

Can you please outline how you estimated $8500 and 3 months for this?

2 Likes

Hey @0xdef1cafe really appreciate these questions.

An LLC won’t be a cost concern as I already have several under me, each with their own bank accounts. I will simply run it under one of those. If you would like to know more about that I can share that info.

Shopify is one option although payment processing and additional add-ons such as printful make it super convenient. It definitely cuts into maximizing profit in the long term if the supply chain is dependent on those plugs and play options. Yet those options are important for testing merch to see if there is a real demand in the community for a product.

Funds over 3 months will be allocated accordingly:
• 16% development of site (my time and trusted full stack if needed) $1,360
• 84% to merchandise (what is not spent from this category will be returned to the DAO) $7,140

The intent for the funds would be for hosting, time put into the site and curating which products over 3 months, manufactures and fulfillment providers for high quality products such as the ones listed above (not all mainly shirt and hoodies) if the profit margins are better than what we can get on printful or alike services. Potentially a trusted full stack contractor to support with incorporating FOX crypto payments if needed. Funds will also be allocated for starter pack packaging, printed resources, and fulfillment.

My approach was to utilize connections with manufactures and fulfillment I have to curate a collection of high-quality merch (at the right price of course) for the shapeshift community. My intent is to setup the store for success by ensuring profit is being maximized and not being eaten away by easy high subscription costs, high payment processing fees, plug and play options with high cost per item for products that are frequently being purchased by the community.

I do also want to highlight that the full $8,500 in FOX isn’t intended to be fully spent. As I state in the proposal that funds not used will be returned to the DAO to reduce sell pressure on the token, not all tokens will be sold off immediately only on an as need basis.

If need be, being assigned under a product workstream leader to ensure there is a check and balances as to how funds are being allocated over the next 3 months would definitely be appropriate.

Please let me know if there are still outstanding concerns.

5 Likes

@jonisjon

Duly noted, will be sure to get this operational. If problems arise, who would be the best technical person for me to follow up with?

3 Likes

Should be the same as accepting any other ERC-20, perhaps one of the devs in the discord could give help if you have questions about setting up an ethereum wallet to take that payment? Should be pretty straight forward.

2 Likes