0.0 Summary
Note: this BIP is on a short timeline as the proposed drop is scheduled for June 30th, and the opportunity came to us on the 15th. Our aim is to deliberate through the weekend as needed and make a 48hr vote instead of 72hrs on Monday the 19th. This opportunity was introduced and stewarded by @quimp in collaboration with the core team. He's out sick so I'm posting for him.
Botto has recently been invited by prominent figures in the NFT space to release a Botto edition as part of their blue chip project featuring editions from leading Crypto Artists. This BIP proposes that the DAO curates and submits one Botto fragment to be released as an edition size between 300 and 500 as part of the project.
1/1 holders and a random selection of Pipe holders (snapshot to be taken before this BIP is published) will be selected for the allowlist to mint the artwork at <.07ETH. The allowlist will also include a selection of eligible wallets from the project's existing ecosystem.
We (Quimp and the team) cannot present more information about the project than outlined here in the BIP in order to keep the element of surprise in the drop’s marketing. We do wish to emphasize that this project is run by some of the leading voices in this space, and has achieved a positioning that allows crypto artists to release an edition supporting a larger movement without being perceived as being dilutive to their core supply. We strongly believe in the team and their vision, and that the DAO should should pursue this opportunity.
We’ve also been given this opportunity on a very short timeline (2 weeks). While there is a chance to do this at a later date, we cannot guarantee it will be offered again.
You may also be able to guess from the info what the project is, please keep it discreet if you do. Snapshot will be taken prior to this BIP being published, so there is no advantage to front running it and would only hurt the drop.
1.0 Rationale
To date, Botto has focused on minting 1/1’s on a weekly cadence. This predictable low supply is one of Botto's greatest strengths and has been an important part of Botto’s narrative. There are, however, a select few blue chip editions projects in which the top crypto artists participate and that credibly add to the artist’s reach without diluting their core series of works. This is one of them.
Further, there is a strong appetite from the community to release more affordable work and in greater supply, as evidenced by Seaport Subject (edition of 10) that sold out instantly, by various discussions in Discord, by the appetite for Pipes in early 2023, and by the formation of CyborgDAO to pool resources to collect 1/1’s. For most Botto enthusiasts, this may be their first opportunity to acquire a Botto fragment that is not a derivative.
This has also led to the team considering how Botto might produce for a commission. In this case, the partnering project asks for artists to create something based on one theme from a set of 10 that the project has proposed. As Botto does not take outside prompts, the approach proposed here is to have Botto’s Taste Model select from unreleased fragments (1M) according to a given theme. Using the taste model’s scoring function, it will pick the theme that leads to the highest scoring set of fragments overall and present that set for the DAO’s consideration. This approach protects Botto’s agency, while also ensuring that commissions draw out Botto’s own choice of its best work according to its developed style to date, while still showing its range of aesthetics. This will also provide the community with ample opportunity to contribute in providing their input on which fragment we think has the strongest interpretation of the theme within the set.
We’ve developed this with Botto Guardian (Quasimondo) and collectively believe it is a very strong demonstration of Botto’s interpretation, style, choice, and fit to the proposed themes that protects the fidelity of Botto’s agency.
1.1 What Botto receives in return
Primary revenue and secondary royalties are split 50:50 between Botto and the project.
1.2 Recognizable advantages
- Botto is featured among other top artists in the NFT art space
- Opportunity to collect a Botto fragment at an affordable price point
- Expansion of Botto’s collector base
- Special access for 1/1 and pipe holders
- Additional revenue
- A new form of having Botto produce for a commissioned theme without violating its agency.
2.0 Proposal Specification
There is a list of themes from the project that Botto can create around (sharing them would give away the project). As Botto does not accept outside prompts in its creation, these themes will be submitted to Botto’s taste model. The taste model will then select the top 200 matching fragments for each theme from its unreleased works. Whichever set of 200 has the top overall score according to Botto’s taste model will be the set the DAO will vote on to choose one to be editioned.
The titles will include an element of the theme to make it clear what is being interpreted in the work.
Curation will take place over a 1 week voting window to determine a winner and its subsequent description. It will run from Wednesday-Wednesday and so not overlap with the start/finish of the regular voting rounds.
The top piece will be minted and the remaining 199 will be discarded. (The other sets of 200 will merely be returned to the unreleased works as the set is only gathered temporarily for the Taste Model’s consideration.)
The edition will be minted on the project’s smart contract and collection as an ERC-1155.
There will be an allowlist determined between the BottoDAO and the collaborating project that will include all 1/1 holders and a random selection of pipes holders. The collaborating project’s team will manage the random selection following their strict protocol.
2.1 Timeline
- BIP deliberation - today- June 19th
- BIP vote - June 19-21 (shortened 48hr vote)
- Pool creation - June 21
- Special voting round - June 21-28
- Description vote - 12hrs after round closes
- Drop - Friday June 30th
2.2 Budget
The costs are negligible.
2.3 Criteria of Success
- Measurable exposure (Social media engagement with the drop and following of Botto's accounts, $BOTTO price appreciation, Pipes sales, Discord memberships & social signals)
- Revenue split
2.4 Disadvantages
- Increased supply of Botto artworks
- Rushed BIP could mean we are missing important considerations.
