Proposal Title: Creating the World’s Largest Artwork - Partnership
I am Future Promise, we have just put online the demo for our project aiming to create the World’s Largest Artwork.
Due to advancements in AI, achieving massive scale in artworks is now possible. This idea has never done before & would have great potential of reaching the mainstream.
It has not begun, but you can see it here: https://mdnft.co/ .
Here’s how it works:
- Begins with a small initial artwork & a countdown.
- Once the countdown reaches zero, the artwork is complete.
- Each addition to the artwork resets the countdown to 30 minutes.
- Whoever adds the final piece, wins the pot.
Idea of the pot is that it is incentivising the mission while building anticipation of its end.
- Additions to the artwork are made by users by entering prompts to an Image AI.
- Each addition is minted by users as an NFT, providing fractional ownership of the whole artwork & increasing the amount in the pot.
- We have engineered this to scale as far as the community can take it.
Every user will own a piece of the World’s Largest Artwork & one lucky one will win the pot.
How does BitDAO fit in?
We’ve got technology, you’ve got capital. We’re proposing BitDAO seeds ETH to our starting pot value, in exchange for a cut of revenue & branding partnership.
We would simply just put all of the invested ETH into our starting pot to get it started with strong momentum.
We’re happy to scale the size of the investment based on BitDAO community interest. In each case BitDAO would initially receive 100% of revenue until its funding is made back:
- 15 ETH: BitDAO receives 4% of revenue
- 25 ETH, BitDAO receives 10% of revenue
50 ETH, BitDAO receives 20% of revenue & BitDAO branding added to the page. Would drive attention to BitDAO in a success scenario.
(Revenue here refers to 50% of the mint costs on this NFT collection. The other 50% adds to the pot for the winner)
The higher the starting pot the more momentum the project will begin with!
What are the projected outcomes and how will this benefit BitDAO?
This is an ambitious viral dice roll with 3 different outcomes:
- Fails/Fizzles - BitDAO does not make investment back & receives little attention. Given the strength of BitDAO, the modest investment amount & the ambitiousness of the project, I see this as very unlikely.
- Moderate Success (~250-750) ETH Revenue: BitDAO profits on investment. Large amount of attention from NFT/AI circles.
- Moonshot Success: Project achieves r/place-like attention, runs up Beeple-like numbers & reaches the mainstream, BitDAO - Very Large Profit & Enormous Mainstream attention.
The size of the prize pot increases with every minted addition to the artwork. It will reach very large numbers in a success scenario.
How long will it take to complete your proposed changes & what are the milestones?
There is no vague timeline, mysterious budget breakdown, or other complications. It is built & ready. 100% of the proposed funding would go into the prize pot smart contract. We can move fast, aside from some final prep, we’re ready to go any day with the support of BitDAO.
Who is involved?
A team of 2 Engineers & a designer has built the project. If it were the case that the project was not built & we were requesting funding to build it, I would spend more time here making the case for our capability. But it’s right here: https://mdnft.co. You can judge for yourself!
Next Steps? If this proposal is accepted, what are the immediate action items?
If the proposal is accepted, we will finalise the BitDAO branding on our app with input of the community. Then we will deploy the finalised countdown contract for the BitDAO investment ETH to be deposited into, complete final preparations & start the countdown within days.
Happy to answer any questions!
Temperature Check Poll
- Needs work