INK-68

Proposal ID
INK-68
Grant Type
custom proposal
Project Lead
nftonyp / @NFTonyP
Estimated Launch
October 24, 2023
Created
Oct 13, 2023 7:00 PM
Status
Declined
Proposal lead has retracted this proposal.

Description

Buying 2 Nouns NFTs that grant access to participate + make proposals in their DAO (2 nouns are required to propose, 1 nouns only allows you to vote). The NFTs will be purchased in order to allow Doodles holders to make proposals in those DAOs and for me to participate in the voting and discourse to build a reputation and legitimacy around our communities delegated proposals. I will keep the nouns on a hardware wallet and will use delegate cash to provide holder’s access to make proposals or work with holders to write props and subsequently submit their work myself. Team Space: On approval Days until launch: 10 Requested Budget (USD): 100000

Team:

Chef Tony

Written 5 Inkubator proposals: NRD’s Creative Campus (passed), Etan’s Haunted House (in-review), David’s Day of Ink (in-review), Chef Tony’s GF (passed), Doodlifts

<redacted>

Passed multiple Doodlebank Proposals: Noodles Chase the Rainbow,TGID Funding

Helped market various successful DB proposals: Jon HQ’s Security Audit, JKB Electro Heaven, CKT’s Doodles Community Fund

Let’s cut to the chase, I love participating in DAO governance, writing proposals, and empowering individuals to build things that they are passionate about. As the steward of this vault I will work directly with our community to workshop proposals. In practice, active molding of props is not the purview of the Doodles Community Council as it stands related to the Inkubator and we must play within the bounds of their administration. In light of this fact, as the Inkubator's Nouns rep, I will take an active role managing this portfolio and collaborating with community members on their proposals made to these communities.

Questionnaire

What unique benefit(s) or experience(s) does this project provide for the holders of the originals Doodles collection? This proposals sets out to unlock access to ecosystems that costs tens of thousands of dollars but through the power of delegation will be free for the holders to use. Nouns DAO’s treasury currently holds 11,538, that is around 4x the total holdings of the Inkubator.

How might this project affect the overall value of the original Doodles collection: This proposal makes the value of making proposals into Nouns DAO from 60 ETH to whatever the floor price of Doodles is. If a Doodle gave access to one of the largest and most active NFT based DAO in existence, I think it could drive people to buy Doodles solely based on the access to nouns treasury alone. Therefore it stand to increase the overall value of the OG Doodles Collection.

How does this initiative relate to Doodles' brand identity and values? The community guidelines state the Doodles stands for Inclusivity, Imagination, and Innovation. This proposal is thinking outside of the box to try and give OG holders a super neat opportunity to participate in other ecosystems. It will be taken on by me to develop a reputation and involvement the Nouns ecosystem so that proposals that are proposed with our assets will be taken legitimately as we will be actively participating in the Daos governance(regarding voting, feedback ,and discourse) and in the communities via X, discord, and twitter spaces; not just simply extracting ETH from their treasuries. I’m using my imagination to take an innovative approach to making the experience of holding an OG Doodle matter more to holders.

What aspects of this project could appeal to the Doodles community? Doodles was born from web3 and web3 is characterized by inclusivity and participation. I think as a project we can be more active in other projects and in the web3 space at large, I believe that this proposal would create some much needed noise around innovative ideas in the NFT treasury space.

Being able to collaborate with other talented builders/minds in the prestigious nouns ecosystem and access new funding opportunities is very rewarding.

If any, what are the projected financial outcomes of this project for Inkubator? The idea behind providing returns to the Inkubator would be something I would explore directly with the community council and team.

I see it one of three ways:

  1. revenue share with Inkubator for proposals that are revenue generating
  2. requiring proposers to provide/account for a usage fee within their proposals (such as 5 or 10%)
  3. No returns to the Inkubator and making this new funding opportunity open to all OG holder not limited to the council members themselves. The benefit of Nouns being NFTs is that in a bind or in the case that the program is fairly dormant, the Inkubator can liquidate the Nouns and put the ETH back into the Inkubator.

FWIW I would like to pilot this program for a minimum of 6 months.

Can you describe the team's skills, past performance and credentials? Written 5 Inkubator Proposals, Passed 2 Inkubator Proposals, Passed 2 Doodlebank Proposals, Successfully Marketed 3 other Doodlebank Proposals. Served on the Doodle Watch along with the inaugural Doodles Community Council.

Who are the target audiences for this project? OG Doodles Holders and the Nouns DAO ecosystem.

Why is now the right time to fund this project? What does the spending plan look like? I think we seriously need to come up with a unqiue way to provide a unqiue value proposition to make OG Doodles holders happy and drive new entrants into the ecosystem that are seriously involved in web3. I think we can really shine as embracing decentralized access to Nouns DAO via OG Doodles in this never before undertaken endeavor while mitigating financial risk to the Inkubator.

Spending plan involves: Buying a fresh hardware wallet to receieve the ETH and subsequently hold the nouns. Buying an ens to link the ledger, have yet to come up with name but am open to council feedback on it. Unfortunately to my understanding we cannot delegate/make proposals from a gnosis safe because it is a smart contract wallet. If I am in fact mistaken, I would be cool with using a gnosis safe in lieu of a ledger.

Participating in 2 Nouns auctions (they happen every day). The plan would be to spend 29 ETH or under per noun so we will just need to monitor the auction prices and engage in bidding. You can check out recent auction prices at https://nouns.wtf/.

Last but surely not least, we will need some marketing assets made for promotion. We will also reserve 1/ 1.5ETH to reserve for artwork/design mockup for nouns proposals to pay Doodles community artists to bolster appeal.

Could you outline the plan for building awareness for this project once it is launched? I would want to build out a section on the Inkubator's notion site with FAQs and how to's regarding participating in Nouns DAO as on OG doodler.

I will also create and execute on an educational campaign that include a infographic and series of spaces. I will include new developments in regards to Noun's proposals on my weekly twitter spaces show "Ink Tank".

What is the projected timeline for the completion of this project? Upon approval I would begin creating a simple guide, how to video, and relevant documentation. In addition I will work with community artists to get some marketing assets created. Purchasing the Nouns could take 2 days or maybe a week or 2 depending on the going price at the time of disbursal.

All in all, a conservative bet is that we could turn and burn this in about 2 1/2 weeks from disbursal.

Project Lead Additional Remarks

I am seeing this Nouns acquisition as somewhat of a pilot program, and I am willing to come up with a review by the council on this program. The council would reserve the right to retake ownership of the nouns and liquidate them if and when they see fit, but I would want to ensure that the program would be given some time to flourish. If I arbitrarily have to blurt out a number my request would be a minimum of 6 months, but in reality would much prefer at least a year to run this initiative to see if it does in fact benefit our holders.

You may be thinking, Tony aren't you working on a GF snack brand. Yes indeed I am! I also participate in the web3 ecosystem in my free time and think that this idea is worth experimenting with. I'm trying to ensure my time spent in the space is worthwhile and not just talking shit on the timeline.

Bullish on the nouns, you should be too!

P.S.S. The ask is 60 ETH, I need to denominate in ETH because Nouns are sold in ETH. Regarding specifics on disbursal and final ask I will need to coordinate with the treasurer due to the volatility.

P.S.S.S. I am also open to the idea of the council running point on the nouns but for all intents and purposes I believe I am the best qualified to undertake the vault's management.