Summary
Botto has an opportunity to showcase a strong presence at NFT Paris next month Feb 23-24.This year Botto is invited to exhibit in the MakersPlace booth at the fair itself, as well as feature the weekly auction at IHAM gallery for a SuperRare group exhibition. For the MakersPlace booth, we are proposing a special print collaboration and prominent placement with the MakersPlace booth that will be a test of a new revenue stream that can make activations like Paris cost-neutral and even directly profitable.
Rationale
Last year, NFT Paris attracted over 18k visitors in two days to The Grand Palais with art at the core of the exhibitions. Botto participated in 2023 in a booth with SuperRare where we received visits from dignitaries including the Minister of Culture and the First Lady of France. It’s a unique opportunity to showcase Botto to the wider web3 community and new audience. With cultural impact as one of the year’s strategic goals, these invitations are a solid way to expand Botto’s presence.
MakersPlace has invited Botto to exhibit at their booth alongside other 2-4 bluechip artists. As with most exhibition invitations, this came with a request to present a work for sale. As we keep tight restrictions on sales outside of the weekly auction, we discussed with MakersPlace a limited run of special-edition prints for the NFT Paris event. The details are as follows:
1 previously minted Botto artwork will be shown at the booth along with the physical prints alongside Invisible Alchemy. At the bottom of every poster will be the artwork/fragment title, VP, round, period, and “NFT Paris 2024”. There will be a total of 150 specialized prints at the event, each will come with a digital token of authenticity designed in-house by the Botto team. The token will be an animated version of the print with BOTTO x NFT PARIS 2024 text. Each token will double as an Access Pass generating a 100 VP a day. Each print will sell for $150 and will be around 8.5”x11" in size.
To drive further excitement around the sales, MakersPlace suggested putting their marketing effort behind a raffle to incentivise participation and direct more attention to the $BOTTO token. Each print buyer will automatically enter a raffle that will be managed by MakersPlace. 1 lucky wallet will be selected a winner, receiving 10k $BOTTO. The combination of the booth feature, print sale with digital COA, and $BOTTO raffle will ensure a full display of Botto’s process, history, and underlying economy to invite participation.
Proposal Specification
- Creation of 150 derivative prints sold at $150 each. Printing will be handled by Botto
- Sales will be onsite only, purchasable by crypto or fiat, handled by MakersPlace.
- Designing a digital token to authenticate selling of print will handled by Botto
- Marketing support, booth cost, and 10k $BOTTO raffle coordination will be handled by MakersPlace
- Each token will double as an Access Pass generating a 100 VP a day.
- The IHAM exhibition has not additional costs, and will just be additional exposure of the weekly auction
Budget
- 5k to cover print costs (covered by existing marketing budget)
- Max possible revenue if all 150 prints sell out is 13.5k after MakersPlace gets a usual 40% cut)
- Potential to break even and generate 8.5K profit after deducted costs. Profits will have the usual 50/50 split between treasury and active rewards, with distributions happening across the remaining rounds in the Period.
- 10,000 $BOTTO for Raffle
Criteria of Success
- Networking and exposing Botto to new key players at one of the largest NFT conferences to date. Strong cultural impact.
- Piloting a new stream of revenue without disrupting Botto’s supply
- Bringing attention to token through raffle opportunity
- Selling out prints and winning strong reception
Risks
The biggest risk is if the prints don’t sell, but in that case we won’t be going over the 5k allotted budget for the exhibitions. If there are any remaining prints we can ship the to DAO members as giveaways
