Improve Distribution of Frank Miller NFTs

TL;DR

The number of whitelists; who is whitelisted; and preferential treatment like the distribution of free NFTs should be clarified in advance of the Frank Miller Presents: Ancient Enemies NFT public sale.

PROPOSAL
Spice DAO Core Team has suggested that original Juicebox donors (members who bought $SPICE during the two initial raises in Nov ‘21) will receive one free NFT per wallet. This does not make sense as it is just missed revenue for the DAO Treasury. Since all $SPICE holders, old and new, collectively own the entire DAO, it seems counterproductive for one group of members to hurt the future revenues of the DAO. Instead, different whitelists should be created for original supporters, current holders and the general public.

PRECEDENTS

Since Q1 of 2021 NFT projects have been using whitelists to give access to pre-sale minting. Whitelists are a core marketing and sales tactic of any NFT sale.

IMPROVED DISTRIBUTION OF FRANK MILLER NFTS

The number of whitelists should be negotiated with Frank Miller’s team and decided by the Core Team. From this the Core Team should create, at a minimum:

  • 1 whitelist for original Juicebox donors that still hold all of their $SPICE today

  • 1 whitelist for current $SPICE holders who bought after the donors and still hold

  • 1 whitelist for sales and marketing to the general public (giveaways, collabs, etc.)

  • Remainder of NFTs and those that whitelisted but didn’t mint will go into the public sale (method of public sale is up to core team. ie. direct mint, auction, dutch, etc.)

The price of the whitelist sales is to be determined by the core team.

For the whitelists for current spice holders (non juiceboxers):
The Core Team should decide on a method of collecting holders wallet addresses. Ideas can be a holders-only Discord chat to paste an address; a Google Form, or a sign-to-verify smart contract transaction. Of these wallets sort by most-to-least $SPICE by holder and allocate from top to bottom. The goal here is to give whitelists to the most dedicated but only those that are actually active as many may miss it completely and that would result in wasted whitelists.

I would like to emphasize that getting a free NFT usually means you don’t value it and increases the chance you will just sell it. Effectively the DAO Treasury is paying for these free NFTs anyway via sacrificed revenue. Instead, whitelists will prioritize those that would’ve got one for free so they can still get the NFT and buy it if they actually value it and want it.

BUDGET & TIMELINE

Core Team member Kortelin has said the presale marketing campaign for FMP: AE begins in July.

ABOUT ME

@dcfgod on twitter, SPICE holder

This is a great suggestion and is particularly interesting when presented alongside the Redemption Option proposal. If one is for redemptions they are against free NFTs, since free NFTs withhold equity from the DAO Treasury.

1 Like