Co-authored with @AndyKaufman
Improvement of the DAI Pool loot box through NFT-related user interface changes and a marketing campaign with the aim to raise awareness of the DAI Pool loot box as a marketing instrument within the NFT creator community. The intended outcome is to attract new players, create additional value for already participating players and increase the perceived value proposition of the DAI Pool loot box for both players and NFT creators.
This proposal will allocate 1,500 POOL from treasury to a multisig wallet to
- Fund the development of user interface changes with 200 POOL to improve the visibility of the content in the DAI Pool loot box
- Sponsor a series of PoolTogether-themed NFTs with creators that would be sent to the DAI Pool loot box week by week, with a targeted sponsorship of 100 POOL per NFT (in total 11 NFTs)
- Reward 100 POOL each to the two contributors of this governance proposal
As the world largest no-loss lottery, PoolTogether provides a valuable entertainment and service to encourage people to save money. In addition, PT participants get acquainted with crypto currencies and gain the additional exposure to the new area of Decentralized Finance (DeFi) space.
A feature of PoolTogether with untapped potential is the loot box. The loot box is a donation box where anyone can donate tokens or NFTs. At the end of each lottery period, the loot box is also sent to the winner that rounds lottery. The loot box is mostly used by other crypto projects to reach the PoolTogether community for marketing purposes. At this juncture, donations of NFTs are hidden and donors only reach the c. 4,800 players but there is no additional marketing towards e.g. the c. 19k followers on Twitter.
In light of the rapidly growing NFT space, the loot box is significantly undervalued, unexplored and a missed opportunity for PoolTogether to create additional value to players as well as to contribute to the broader NFT and DeFi ecosystem.
Additional Features of loot box display to encourage more artists to contribute NFTs:
- Featured NFT on DAI Pool main page
- Gallery view integration of contributed NFTs in a separate section (to avoid the risk of too much fuzz on the main page)
- Links to artist profiles on relevant platforms including rarible, opensea, makersplace, SuperRare etc.
Benefits for artists to participate in this loot box promotion:
- Selected artists are paid 100 POOL for their PoolTogether themed pieces
- This provides artists with more exposure in the crypto world
- If minted e.g. on Rarible, the artists will still make a defined percentage on all sales as commission/royalty
We chose this set of integrations as they both reward the artists for their commissions by actual payment for their work as well as further exposure in the crypto world. Having the loot box display NFTs through a gallery style view encourages others to increase the value of the DAI prize through their donations and potentially attract more PT players.
The web designer to implement these changes is assumed to be part of the PoolTogether Inc. team (or could this be opened up to the community?) should be compensated for their time as well. The first iteration of this PTIP comes from this forum post. In this PTIP we focused primarily on the first point (PT x NFT Artists) as it provides the greatest benefit for work & funding required. We could explore the other two options in the future.
The next steps for us are to reach out to more artists to make this a successful campaign. We have already received positive indicative responses and are hoping to find more if the proposal passes. The first confirmed artist contributing to the PoolTogether NFT campaign is Simon Wan who together with Robin Schmidt from The Defiant as well as MEME created the highly successful Rug Pull experiment in the second half of 2020 that was sold for ca. $65k (and got rekt ). Simon Wan is known for colorful neon scribbles and just announced an upcoming NFT drop under the title “OBLIQUITY”. The creators of this proposal would also like to encourage both @Oops and @qwercus as gifted creators within the PoolTogether community to also grab brush and pencils!
PoolTogether could also do a public call for artists to create PT themed NFTs in a competition and reward 5 of them with 100 POOL as compensation, decided through community vote. This creates community engagement.
To incentivise artists to continue to donate, our short term solution is to have a 11 week campaign with 1 sponsored NFT per week. We would encourage artists to use the Rarible platform to mint their NFT artwork. This way they will earn a set commission on all subsequent sales of their work, in case the loot box winner decides to sell the prize. The sponsored NFTs will be added separately week after week to the DAI Pool loot box which is the prize pool with the largest number of players (4,823).
If the initial campaign turns out to become a success, the community can vote to increase budget to sponsor more and/or higher profile creators.
The proposal does not require changes to contracts as the NFTs will be awarded as per the current DAI prize pool strategy.
Vote on PTIP-8