- Put TODO for weekly reports in my calendar for Monday mornings
- Went to NEAR Con
- Got support for NEARian nations from the NFT platforms: Mintbase, Satori, Few and Far, and Apollo 42 and NEAR Nauts.
- Meet DApplets another Web4 company
- Submitted Bridgit tokens on NEAR
- Paid fees for the Estonian subsidiary
- Worked on Story for Presence and TMBK2
- Responded to PCI comments
- Studied Identtity per Guy Huntington and Learned about TODA
- Did DAOJO Show with co-founder
- Learned about impact monetization
- Did call with Havona about impact monetization and Regen Network
- Submitted Mintbase grant request
Can you please tell more about this?
Hi @lowcanft
I submitted a grant on GitHub on behalf of Bridgit DAO. Here is some information from it.
Mintbase Grant Proposal
- Project Name: Metaweb NFTBook
- Team Name: Bridgit To The Future, LLC
- Payment Address: bridgit-dao.sputnik-dao.near
- Level: 2
Project Overview 
This project develops a NFT minting and staking site for an IRL and NFT book, whereby 50% of the author royalties and NFTbook sales revenues are allocated to staked NFTs.
Overview
Decentralizing ownership of an IRL and NFT book via NFT staking
Bridgit DAO is authoring a book called “The Metaweb: The Next Level of the Internet”. The book is about a new layer on top of the web that creates decentralized public space above the web page, which will drastically reduce the problems with false information, abusers, and scammers, as well as enable an unprecedented level of connection and coordination that is necessary to deal with our existential threats. Our publisher is the renowned Taylor & Francis. This will be both a physical book and a NFT book. This will be Taylor & Francis’ first NFT book.
We will start out with a generative Pre-sale NFT series. Purchasers of the Pre-sale NFTs will be airdropped a NFT book upon the release of the IRL book (slated for early 2023). Holders of the Pre-sale NFTs and the NFTbook will have the option to stake. Staked NFTs will earn a royalty allocation based on the relative time staked and the staking power of the staked NFTs. (The Pre-sale NFTs and NFT Books will have different staking powers.) 50% of the author royalties and 50% of the NFTbook sales revenues and royalties (after 15% provided to the publisher) are allocated to the staked NFTs. Of the remaining 50% of the respective royalties, 25% will be distributed to the authoring team and 25% to the DAO (e.g., for promotions).
We will create Mintbase modules that support the minting and staking of pre-sale NFTs, as well as modules to airdrop the NFTbook to pre-sale holders upon launch and to initiate royalty payouts to NFT holders. The Pre-sale NFTs can also be listed on our Mintbase store for secondary sale.
We want to create this project because we are excited about decentralizing the ownership (as represented by a royalty allocation) of IRL assets. We think pre-sale NFTs with staking can accelerate the adoption of the technology explored in the book as well as increase the sales and distribution of the physical book and the NFTbook. We think NFT staking has huge potential especially when connected to real world revenue streams. We are also excited about the possibility of helping Taylor & Francis do NFTbooks for other books in their catalog.
Project Details
The royalty allocations for the author royalties rovided by the publisher will be: 50% to staked NFTs, 20% to primary author (Daveed Benjamin), 5% to the primary editor (Zanette Johnson), and 25% to Bridgit DAO.
The author royalties will be paid in fiat to Bridgit DAO’s Mercury bank account and subsequently manually sent to a FTX.us account and converted to NEAR, and manually sent the NEAR account for incoming author royalties for the Metaweb book. This account will be configured to automatically distribute royalties to the NEAR addresses for Bridgit DAO, the author and editor, and the staked NFT pool.
The pre-sale NFTs and NFT books will be configured at minting to distribute proceeds and royalties to the NEAR addresses for Bridgit DAO, the author and editor, and the staked NFT pool.
We have developed the assets for the generative NFTs including 21 transparent PNG word art files with the words “The Metaweb” using the X-Files font as well as 13 PNG images and 13 gifs for the backgrounds. These will be used to create 1,111 generative pre-sale NFTs. There will be four levels of rarity for word art files and for the backgrounds: Common (80%), Rare (15%), Epic (4%), and Legendary (1%).
The generative images will likely be created using https://generate-nft.online.
We have developed the basic art for the NFT book as well. We will be making three different versions
The pre-sale NFTs will cost ~$40 (in NEAR) and have a staking power of 7. All pre-sale NFT holders will be air dropped a NFT book upon the release of the book. The NFT book will cost ~$20 and will have a staking power of 3. Thus pre-sale holders that stake their pre-sale NFT and their NFT book will get a staking power of 10 for their $40 purchase.
The technology stack will be React and Javascript for the front end and RUST for the backend. All data storage will be in the blockchain. We will store aggregate calculations between updates (e.g., total rewards distributed, current APY) in a Posgresql database for perfomance caching. We will host the site on Vercel.
This project will not provide a APY for staking or any other staking rewards other than the royalty alocation.
The core functionality for this project can be done using the on-chain data for the NFTs. The generative NFT smart contract will simply add the NFT to the blockchain. The airdrop smart contract will simply send the NFT book to all the wallets that are holding or staking the Pre-sale NFTs. The staking smart contract will change the owner of the NFT to the project. The unstaking smart contract will change the owner of the NFT back to the staker. The royalty payout smart contract will review the on-chain data for Pre-Sale NFTs and NFT books that are staked since the last payout and calculate their relative staking allocation based on the time staked and the staking power of the NFT, and send the appropriate payouts to all the stakers. We will also create a script to calculate aggregate calculations at pre-defined update intervals and store between updates (e.g., total amount staked, total rewards distributed, APY) in a PostresSQL database.
Here is a mockup of the interface: Mintbase Grant - Google Slides
Ecosystem Fit
This project fits into the ecosystem as a website that enables people to mint and stake pre-sale Mintbase NFT and NFT books to earn royalties.
Our target audience is readers of high technology books, Web3 fans, developers, entreprenuers, and marketers.
Our project provides a way for people to participate in the Next Level of the Web as a early supporter and funder, and thereby to recieve an allocation of the royalties from the sales of the book and the NFTbook. The funds raised will go to the expenses associated with the production, marketing, and distribution of the book and the NFTbook, enabling the book to fund itself.
There are several other projects similar to ours in the Mintbase / NEAR ecosystem including two NFTbook prjects on NEAR but they do not use NFTs as a way of decentralizing ownership for an IRL asset. https://www.mintbase.io/thing/zUlYU-KEF7i2V1ozFaDsyUCQP9-aVKxfcj9IhcieP-g:writersguild.mintbase1.near is simply a poetry book on Mintbase. Serial NFT Book Drop for NEAR Hackathon Project - YouTube creates a platform that serializes books so they are released a chapter at a time. Ref Finance enables staking of NFTs to earn their $REF coin for the Antisocial Ape Club and NEARNauts NFTs: Stake your NFTs, receive $REF rewards | by Ref Finance | NEAR Protocol | Medium, but once again does not offer decentralized ownership of an IRL asset.
Future Plans
In the short term, we wil work with the publisher and independently to promote the opportunity for individuals to become an early supporter and owner of the book by purchasing a pre-sale NFT, a NFT book, or a physical book. This includes regular social media posts, press releases, blog posts, and a worldwide Metaweb NFT and book tour. Supporters can also join the Bridgit DAO and get compensated for activites that advance the book.
In the medium to long term (once we have proven the model), we will approach our publisher and potentially other publishers about enabling their authors to decentralize ownership of their books. We will also abstract the code to be used to support minting and staking NFTs for any IRL/virtual project with a revenue stream.