Peso’s Beatery is a production company dedicated to maximizing opportunities for artists. Specializing in the areas of music production, promotion and special events we have the skills necessary in overseeing the production of audio NFTs from start to finish.
My First NFT is an initiative with the objective of onboarding musical artists into the NFT space through the NxM network.
In collaborating with artists who haven’t yet ventured out into the metaverse, we will provide the artist with a Peso’s Beatery instrumental with which they would record and publish an original song. The song, along with the track’s artwork would be used as an audio NFT, minted through the NxM network.
In producing the record, Peso’s Beatery would provide mixing and mastering services along with the preparation and design of promotional artwork for the track. Peso’s Beatery would also prepare and distribute media releases for the respective audio NFT. The instrumental along with mixing and mastering services, promotional artwork and publicity would all be provided to the artist free of charge as incentive for them to participate in the project, contributing original music and experiencing their first NFT in collaboration with Peso’s Beatery and NxM.
Total requested funding amount: 104 Near per collaboration/Audio NFT.
The breakdown is as follows:
$30 USD an hour.
3 hours audio pre-production
4 hours mixing/mastering
4 hours for artwork design
2 hours preparing and distributing media releases.
Hey @Peso_Pesado congrats on your first post to the governance forum! I think this is a great way to bring new artists into the community. Just a few questions…
The current average for hourly rate paid out for work is around $20-30 USD, I’m worried the hourly rate might be a bit high but would love feedback from @chloe on this.
I’d love to see this proposal go directly to the NxM Onboarding DAO once it’s up!
is quite high in general. We are trying to move to USD/Fiat proposals to keep things simpler when outlining these proposals, but even in NEAR prices, most proposals are around 5N/hr on the higher end. (which would be > 30$ USD an hour at this point).
It seems like these is quite a bit of work planned for this proposal though which is great
It would be great to get an example of what each of these line items actually entails. @vandal made some great point above:
which I also think are very important when trying to value the work done and how it supports the NEAR community. (for example, is the beat-making process going to be recorded/shared/turned into educational content with this same funding amount?)
In general, this proposal seems reasonable, although it would be expected that the content was created before payout. With a payout of 5N/hr, and 13hrs per Audio NFT created, that would be 65N (~420 USD per collaboration). I could see this as an opportunity for NxM to potentially support this NFT collab/creation project by outlining that these 1/1 NFTs should go up on sale for ~65N once they are completed, and as long as the quality matches the proposed work (which is why I think it is important to showcase your past work in this proposal), the NFT could be purchased and splits/royalties going to those that worked on it.
I think this makes @vandal’s question about “where the NFT’s are planned to be minted” a particularly important one. I see this proposal as being even more viable is the NFT’s were to be minted on the NxM Mintbase contract (potentially with royalties going straight to the NxM Mintbase contract itself and the artists ofc, as well as split payouts to all contributors).
Is this a monthly proposal? I wouldn’t want to restrict it to just one a month however I think that turnaround time would be the most adequate considering everything involved. So I would start with one a month and see how things go.
How will artists be selected? I would solicit/select the artists.
Will you create Near names for the artists? Sure, I could take care of that.
What do the splits look like for all involved? I would like to get more details regarding NxMs support/involvement in promoting the NFTs once they have been minted but I think 40/40/20 would work (Producer/Artist/NxM).
Will the NFT be minted in the NxM Store? Yes, the idea would be to have the NFTs minted in the NxM store.
And as for the hourly rate, I was basing it in CDN but yeah I could work with $30 USD or 5N/hr. Chloe had mentioned wanting to see an example of my work. I have the Symbolik track ‘Do The Math’ that we will be minting in a couple weeks. I’m also doing an audio NFT featuring DJ Grouch which will be ready in October. The NFT featuring DJ Grouch will serve as the blueprint for these NFT collaborations as it will be his first NFT.
Hey @Peso_Pesado I’ve found the proposal, no need to send it to me. Just wanted to cover a few things…
We’re streamlining Onboarding initiatives through the Onboarding DAO, which received their first round of funding in October, but haven’t kicked off much yet.
Could you edit the proposal and use $USD amounts for the funding request. All proposals submitted are required to be in $USD until it’s time for the payout, at which time they should be submitted to the DAO with the conversion rate to NEAR at that time.
For elements that cross over to NxM directly, you can ask for that amount from NxM for November up to $500 (or more if we can manage it).