Date: November 9th, 2021
BanklessDAO is looking for revenue streams and it should look for bigger exposure in the NFT market. Flipper.zone is an NFT tool that would provide a revenue stream for the DAO by giving a real added value and a professional tool to all NFT collectors and degens out there, and we all know how crazy that growth is. This would be a one-of-a-kind project.
It is clear that the NFT market is on the rise and there are not enough tools for collectors and traders to use. We’ve decided to create our own tool which will provide people with some of the best NFT tools and return some of the revenue back to BanklessDAO. Our tool will have unique features, as well as the features users, have come to expect from an NFT tool. We plan to optimize these features, to create an all-in-one tool, so users won’t need to switch between platforms.
This project is an opportunity to leverage the power of the BanklessDAO. The DAO has amazing creatives, builders, and a growing number of NFT enthusiasts. Harnessing the power of our members provides us with a strong chance of succeeding in the market, as together we have a strong body and a sharp mind.
Creating a tool, with the support of the BanklessDAO, gives the DAO exposure and recognition in the NFT world. It further solidifies the DAO as a professional body that can build and deliver valuable products in the crypto space.
This project will provide highly useful and professional tools that have not yet been seen on the market. The timing is perfect, as the NFT market is gearing up for another bull run. We anticipate the next wave to be significantly larger than the last one we saw over the summer. This gives BanklessDAO a perfect opportunity to give web3 users a tool they can trust and that creates added value to them. This will help users be more confident in valuing and trading NFTs. Additionally, this project will create a revenue stream for BanklessDAO. BanklessDAO will receive 10% of all secondary revenue generated by this tool. By contributing to the DAO’s cash flow, as well as providing the DAO exposure to the NFT market, we will be able to spread the Bankless mission further.
This project’s target will be to build an NFT tool that will be composed of multiple different tools. An all-in-one tool that will be highly valuable to our users. The tool should be self-sustainable in the long term, with the team continuing to build and integrate new features as the NFT market grows and evolves. We will start with the building of a web app focused on our signature feature, integrating other tools into it over time.
Based on our extensive market research and experience, we’ve decided on which tools we should implement for our standalone web app.
- Ideal sell price calculator (signature feature)
- Early metadata pulls
- Rarity calculator based on metadata
- WETH mass offerer
- OpenSea API integration for quick buys and quick sells
- Multiple rarity score calculations, with a Best Fit determination to help user decide
- Support for upcoming marketplaces: CoinbaseNFT & ShoyuNFT platform
- Continuous development and refinement of features based on community input
As this project will establish a revenue stream for the DAO, we are requesting start-up funding support.
Access to the tool will require users to hold a pass, which will be an ERC-721 token. As we will be using the ERC-721 standard, people will be able to trade the memberships on the secondary market, and secondary sales will bring revenue back to the project. Project revenue will include an initial mint, as well as ongoing secondary sales. The secondary market royalties will be 10%, which will go back to the project multi-sig. Bankless DAO will receive 10% of these secondary sales royalties.
There will be 500-lifetime all-access memberships starting at a price of 0.1 ETH with a bonding curve up to 0.5 ETH. This would bring approximately 150 ETH into our multi-sig. The DAO should be able to finance us until we are sold out, after that, we should be able to stand on our own legs. In the future, we plan to release separate NFTs for every single one of our features, as someone might only need access to a specific tool and not the full package. The separation of features into individual passes will further contribute to our overall project revenue.
Primary sales from the mint will go to the project multi-sig. All of the secondary sales will be split based on the following percentages (this will be hard-written in the smart contract):
- 90% - Project Multisig
- 10% - BanklessDAO
Volky - 160 hours - 160,000 BANK - 50% after mint
Danizord - 160 hours - 160,000 BANK - 50% after mint
hruday - 160 hours - 160,000 BANK
Gecko - AFTER MINT
DavidBankless - AFTER MINT
yacht_tea_Ed - AFTER MINT
TOTAL OF: 320,000 BANK
Designer - 32,236 BANK / 0.75 ETH
Artist - 10,000 BANK
Solidity dev - 7,500 BANK
TOTAL OF: 49,736 BANK
Heroku, Vercel, GitHub, MongoDB - 2,000 BANK
Contract deployment - 3,000 BANK
TOTAL OF: 5,000 BANK
SUMMARY OF PROJECT EXPENSES: 374,736 BANK
Based on the volume of other NFT tools, we assume that the average secondary market volume could be 10 ETH a day, that is 1 ETH in royalties a day (this data may vary depending on the market phase we are currently in). At 10% of 1 ETH, the DAO would receive 0.1 ETH a day on average. This means that we will pay the initial grant back in approximately 84 days. After this point, the DAO will continue to benefit from the growth and success of our project without other expenses and the project will be sustainable. As a result, there will be a running independent project and a great revenue stream for the DAO.
The initial goal is to sell out all of our lifetime memberships. If we can manage to do that, we will have approximately 150 ETH in our multi-sig. The project should become independent right after the tool is sold out as this amount should cover development and salaries for the team until at least the end of 2022.
Establish multi-sig & start paying our developers & artists.
Develop MVP of the tool, test it out, and start initial marketing.
Start the minting period & become independent after the sellout.
@DavidBankless#4680 - Junior web3/solidity developer & crypto enthusiast. Has history in crypto since 2018-2019. NFT collector and trader. Been running a Czech crypto page from 2020 until early 2021 and then became a co-founder of the BanklessCzech media node. Has experience in team leading activities. As NFTs are his daily bread, he is looking for ways to facilitate the experience for him and other collectors/traders.
@gecko007#6813 - crypto since 2017, went full degen in this bull run, part of several NFT projects, and see this as a gamechanger with massive adoption possibilities that will bring crypto to the masses. My focus is on the product management and business side of things. In my other daily life, I co-founded several software startups and am currently managing my own software company.
@ yacht_tea_Ed#3789 - Innovator/explorer with a passion for future tech and finance. Crypto Class of 2017. Self-taught trader of fiat, crypto and options. Dove into DeFi early 2021, becoming fluent along the way. Started NFTs mid 2021 and went full Degen. NFTs to me are the perfect combination of art, trading, utility, DeFi and beyond. I’m very active across an ever-growing list of project discords, and have been early on several NFT tools, providing feedback and guiding their development. My focus is on the optimization and innovation of a product. I think this project is a great opportunity to make an impact on the NFT space and streamline the onboarding of the next wave of adopters.
- I need more information - please discuss below