*(Edit 5/21) Renamed “NFT Factory” to “Meme Factory”
Date: May 19, 2021
- Create an NFT Factory. Bankless DAO’s NFT Factory will provide a number of services to content creators in order to educate and assist them in creating specialized NFTs. The DAO is compensated through fees or royalties.
- Many artists have difficulty monetizing their work. NFTs provide new opportunities to artists, but remain relatively niche and obscure. We will help bring NFTs into the mainstream by partnering with artists/content creators (podcasters, Youtubers, Twitch streamers, etc) and help them understand how they can use NFTs to monetize their work. We will offer a number of customized services to the artists, designed to maximize the effect of their NFTs. As a service provider, we will take a small cut of NFT sales.
- This would create greater visibility for Bankless by partnering with high profile content creators.
- This would generate revenue for the Bankless DAO via NFT royalties.
- By reaching the fans of these creators, we potentially onboard millions of people into learning about and using NFTs.
- Begin with a small team in charge of reaching out to content creators. This team pitches the value proposition of creating NFTs, and shows examples of how it could work.
- The Bankless NFT Factory website. The website showcases our talent, includes a gallery of our NFTs, explains our purpose, and includes contact info and support.
- We work with our partners/clients in order to create custom NFTs that fit with their own brand/purpose. Some of these NFTs may include additional functions.
- “An NFT Thinktank.” As a backend to the NFT Factory we can have a constant flow of ideas about NFT use and curate those ideas into actionable uses we can offer to clients. Our goal is to be innovators in the NFT space.
- Custom pricing that reflects the level of our work and involvement. For example, if the client wants us to do everything (create design, mint, market), then we could include a 5% permanent royalty in the NFT smart contract. If the client provides their own design, for example, our fee would be smaller. Pricing will be discussed and agreed upon upfront with the client.
- The NFT Factory team receives payment for their services.
- Additional royalties from NFT sales flow into Bankless DAO treasury.
Season 0: Assemble team. Write a standard pitch template. Create NFT portfolios. Establish a fair pricing model.
Season 1: Launch of Bankless DAO’s NFT Factory.
We will need initial funding to hire artists to create a small portfolio of NFTs. We will need funding to create a professional, functional website.
After that, I believe this project can run on its own for next to nothing. The Bankless Factory team can work for commission. Royalties can go to the treasury.
- Establish the Bankless NFT Factory. Find writers, designers, technical, and creative.
- Develop our monetization model.
- Create a small NFT portfolio (perhaps using our own Bankless NFTs) as an example for prospective clients.
- Reach out to content creators and pitch them on partnering with us and allowing us to create NFTs on their behalf.
- As the first media and culture DAO, Bankless DAO is uniquely positioned to create an NFT Factory, and help bring NFTs more mainstream. In doing so, we help content creators of all kinds monetize their work. Bankless DAO could take part in the creation of thousands of valuable NFTs, and create an endless stream of royalties for the DAO.
- Vote FOR if you want to see Bankless DAO establish an NFT Factory and website, and attempt to create partnerships with content creators.
- Vote AGAINST if you believe Bankless DAO does not need an NFT Factory.
- This idea is good, but the plan needs more work
@perchy - I want to live in a world where content creators can use NFTs to get the compensation they deserve. I want Bankless DAO to pioneer the NFT space.
Thanks to @Kouros for helping develop this idea!