Proposal #25: MetaManifesto Genesis NFTs

We’ve been talking about making art & minting MetaManifesto NFTs for a long time now…
I pushed forward on the initiative a while ago, got biuxmaster to make art for them, printed & distributed coasters with art & manifesto tl;dr and now minting actual NFTs.

Purpose

Help with fundraising for MetaGame & give people something cool in exchange for their support of the MetaGame. “MetaManifesto NFTs are used for signaling your alignment with MetaGame”. Also, NFTs are hype.

Versions & Perks

A total of 300 (because 300 of MetaGame), versions:

Common MetaManifesto

image

  • an image
  • 150 pieces sold for 0.042eth/piece
    Perks:
    • A digital wearable
    • MetaGame stickers
    • Your name on the MetaManifesto page

Rare MetaManifesto

image

  • a gif
  • 100 pieces sold for 0.42eth/piece
    Perks:
    • A digital wearable
    • A MetaGame t-shirt
    • Your name on the MetaManifesto page & newsletter
    • Early access to future drops

Epic MetaManifesto

image

  • 3D animation
  • 50 pieces sold for 1eth/piece
    Perks:
    • A digital wearable
    • A MetaGame hoodie
    • Your name on the MetaManifesto page, newsletter & shout-out on the community call
    • Early access to future drops
    • 10 pSeeds to instantly become a patron

Minting

I wanted to mint at least the epic ones on mainnet because:

  • Seems most people prefer to have their NFTs on mainnet if possible
  • Most people, esp whales, have their eth on mainnet still making it more likely they will get sold
  • We claim to be an Ethereum project, Polygon is its own chain & NFTs on true L2 are beyond me / not possible to mint them on Rarible or OpenSea.
  • MyMeta profiles still aren’t displaying Polygon & xDAI NFTs.
  • The epic ones alone cost >4k$ each so it should be worth it.

Cost & Gain

Setting up a minting contract along with minting all 3 versions costs something like 0.4eth.
If we sell all 300, which I believe we eventually will; that will be 98.3eth+15% on all secondary sales - well worth it imo.

Total cost: ~0.4eth (for mint) & 500 pSeeds (for epic buyers) = $17k
Total gain: 98.3eth + 15% on secondary market sales = >$450k & 50 new patrons

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It would be cool if they were minted with our own contract, not OpenSea’s or Rarible lazy mints. How do we know minting 300 NFTs will cost only 2k? Sounds kinda low. Either way, I think we should do funding NFTs on mainnet. We can build functionalities on cheaper sidechains

2 Likes

Def, most of the $2k cost (0.3eth) is for setting up a contract for the collection. On top of that, its about $100 per NFT type bulk minted, so $300, but I rounded it up to 0.4eth total.

It might be good to mint in a way that the NFTs have a historical background that makes them attractive for collectors. I mean, maybe minting them at Arbitrum (cheaper) still connected to Ethereum. As as far as I know, MoonCats were the first ones in Arbitrum like 3 weeks ago. They are already historical NFTs.

Otherwise, minting in mainnet is good if we have already a strategy to sell them, which in my experience needs a lot of shilling, public relations, and clear value for collectors.

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I’m not sure :thinking: how this works with the creation because I talk to Soulja Boy he said he did his on Shiba coin

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Hey, here are my thoughts on this:

  • Minting on mainnet gives us more exposure to potential buyers and secondary markets, as it’s quite limited for L2s, let’s have all NFTs on mainnet
  • We can and should wait for gas to drop before the drop window (and we’ll have to wait while it’s in development)
  • I’m available to do the contracts :slight_smile:

How were these prices determined, they seem somewhat pricey. Although I do think a good amount of them will sell and I’m excited about the revenue generation. I just want one of each and it’s gonna be super expensive. . . :cry:

Also, I’m not sure the math is right on the pSeed cost. Seems it’s calculated at the price of 500 seeds, not pSeeds.

If I’m understanding correctly we’re minting all of them, and then selling them? Not having buyers self-mint? Either way I’m of the opinion that NFT minting shouldn’t be done on main-chain. I understand keeping high value ones like the Epic set on main chain though. I guess that means splitting them between Polygon and Main-chain, which is sub-optimal but I guess that’s just the way things are currently.

Oh, one more thing, are we ready with the Physical items and wearables? We’ll need to have follow through on that, which is something we’re historically bad at. . . :grimacing:

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We’re not pre-minting them, or I misunderstood.
Minting should happen when bought, by the buyer :slight_smile:

Ah, gotcha. Also since you seem to be able to handle the contract would it be possible to do this on Arbitrum? (I keep going back and forth on Polygon vs. Arbitrum)

Somewhat arbitrarily but intentionally pricey. The intention behind the whole raid is to raise funds.
Its been a trend recently of projects raising funding through NFTs (esp. on Mirror), so I thought it would make sense to try it out as a part of the fundraising strategy.
The overall fundraising goal is $1-3m & ~$420k would be a solid chunk :man_shrugging:

There are 150 common ones so all players can afford to get at least the common ones, but the more active players should easily be able to afford rare or epic ones.
The common ones only add up to <$30k while epic ones to $230k.
And even that 1eth for epic ones doesn’t seem so pricey when you compare it to what’s going on in the NFT space…

Also, these are only the genesis MMs for funding, there should definitely be free MetaManifesto NFTs when the 300 players & patrons are actually finalized at the end of the current phase as there are now only 89 players & not many more patrons anyway…

Right, so, the way I understand it is that 8pSeeds (the minimum for patrons) is acquired by planting 5 Seeds along with eth. And the pool is 70/30. So basically 8pSeeds = 5Seeds + 3Seeds worth of eth?

Fair enough! :joy: In this case, I promise to personally make sure it happens. Thinking the epic ones (hoodies) could be done through MetaFactory, t-shirts potentially as well but could be dropshipped through Society6 or RedBubble for cheaper & stickers could be printed locally for super cheap. My guess is also that like 50% of the people won’t even claim these, but we’ll see.

Considered doing that originally but Rarible supports batch minting.
So basically, we pay ~$100$ to mint 150 common ones, ~$100$ for 100 rare ones & ~$100$ for 50 epic ones. Whereas if each person was minting for themselves, they would each have to pay ~$100 for every single NFT.

Also thank you for offering to write the contract but tbh sounds wasteful when there are so many existing contracts & platforms we can use. If you have some time to spare, there’s a bunch of other ways it could be better spent (eg. figuring out how to set up Seed buying subscriptions if you want something smart contract related)

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Blockquote[quote=“peth, post:11, topic:793”]
And even that 1eth for epic ones doesn’t seem so pricey when you compare it to what’s going on in the NFT space…
[/quote]

Lol, ya, the NFT space is ridiculous right now, but I don’t really want to be a part of that. :sweat_smile: I am all for MetaGame making money. I just wanted to push back on the price, but as long as everyone else is good with it I’m good with it too.

I’m not sure what you mean by this. If you make free versions later it kinda invalidates these.

Lol, I figured you would! That’s good but the fact we don’t even have a hoodie designed is a problem. We can’t really sell one of these now if we don’t even know what the final product is yet. . . Also printing locally sounds great but we have no idea where locally is. . . It could literally be anywhere.

P.S. My current plan is to buy all of them and you can bet your ass I’m redeeming for all the swag! I’m already pissed I didn’t get any of the coasters!

Ah, so I was picking up on that! I didn’t realize you could batch mint on Rarible though, I thought every NFT on Rarible had to be unique. Also, as @Misanth mentioned, if we could have a MetaGame custom contract that would be sweet, and if we can do it off main-chain even better! So if @nicolaslaw can do it in a reasonable time frame I’d be in favor of him taking a stab!

Oh, almost forgot somehow:

I’m having a hard time mathing right now. . .This looks right but doesn’t feel right. . . Also we’ll need a custom contract for the pSeed claiming from the NFTs, so maybe @nicolaslaw can do that regardless of what contract we use to mint. Also I just did lots of mathing and it looks like you’re probably right on the numbers. . . My bad.

Gotcha, works too.

Do you mind linking me to the notion/page detailing Seed subscriptions?

Only a very bare version but happy to expand on it if you want to start working on it :slight_smile: