Latest Rug Radio Faces of Web3 by Cory Van Lew News
The voting is live on Snapshot for four new Rug DAO proposals that collectively aim to bring long-term value to the Rug Radio ecosystem, per a tweet from @RugRadio.
The Deets:
- Expanding $Rug to $RDAO Conversion Access to the wider Rug Radio ecosystem
- Enhancing Genesis Rug NFT Utility and rewarding long-term holders
- Incentivizing Web 3 engagement and Rug Radio DAO growth
- Establishing a Small Grants Committee for efficient resource allocation
The Details:
The first proposal, "Expanding $Rug to $RDAO Conversion Access to the Wider Rug Radio Ecosystem," aims to allow all Rug Radio NFT holders (Membership Passes, Genesis Rug NFTs, and Cory Van Lew PFPs) the ability to convert the $RUG token they earn through the rewards program into the $RDAO governance token. This will let all Rug Radio NFT holders, many creators, and many more Rug Radio ecosystem participants join the Rug DAO and help pave the way for a truly decentralized web3 media platform.
The second proposal, "Enhancing Genesis Rug NFT Utility and Rewarding Long-term Holders," encourages a set-builder mentality for all of the varying Genesis Rug NFTs. By holding complete 16 meme card sets of the differing roles and complete sets of all 4 roles of the same meme, holders can now be rewarded with $Rug tokens.
The third proposal, "Incentivizing Web 3 Engagement and Rug Radio DAO Growth," will give the hosts of the GM Web3 show as well as the Rug Radio core team and DAO Council representatives attending the NFT Lisbon conference in June the ability to invite industry leaders into the Rug DAO. The Rug DAO treasury will provide enough $Rug tokens to convert into 100 $RDAO tokens so the team can gift one each to other Web 3 founders, builders, artists, and creators to energize the Rug DAO with new concepts and ideas.
Lastly, the "Small Grants Committee Proposal" intends to establish a Small Grants Committee, enabling the Rug DAO to efficiently pay builders and creators who do small jobs or build low-cost tools for the DAO without having to create a new proposal for every small task contracted.
❗ Why It Matters
These four proposals could bring significant long-term value to the Rug Radio ecosystem by expanding access, fostering long-term holding, incentivizing engagement, and creating a more streamlined process to efficiently allocate resources.
🎬 Take Action
Visit the Snapshot link here (snapshot.org/#/rugcommunity.eth) to see further details of each proposal, cast your vote, and help shape the future of the Rug Radio ecosystem.
🔙 Back It Up
Farokh gave a helpful outline of the @RugRadio ecosystem, which is composed of three NFT collections and two ERC-20s, in a tweet last week.
The Rug Radio Genesis NFT is the main NFT since it yields $RUG daily. The Rug Radio Faces of Web3 by Cory Van Lew collection is a PFP that represents and shows support for the brand, and the Rug Radio Membership Pass can also be used to participate in the rewards program.
🧠 Learn More
- Rug Radio's Wiki - wiki.rug.fm/rug-radio/
- Rug Radio Snapshot - snapshot.org/#/rugcommunity.eth
Rug Radio has partnered with Fair.xyz (a company that provides no-code services for NFT creators) to introduce a new rewards programs called Stubs to its community.
❗ Why it Matters
The new partners aim to "innovate the way listeners are rewarded with NFTs" within the Rug Radio ecosystem.
🔍 The Deets
- The new "proof of listenership" program will debut on Rug Radio show "GM Web3" next month, providing perks to Rug Radio's active listeners.
- During every GM Web3 show, the hosts will release a "limited supply to Stubs Mint Passes," which can be claimed by show listeners by entering a code. These passes can only be claimed by Rug Radio and Degenz Access Pass holders.
- Every week, Rug Radio will partner with an NFT artst to create a piece of art (or "Stub") for mint pass holders.
- Mint pass holders can then burn the mint pass in exchange for the Stubs artwork.
🎤 Founder Feedback
The whole purpose of Rug Radio is to be able to reward participants for being part of our ecosystem and creators for creating content...as well as collecting incredible art from artists that are from the left, right, front and center of the NFT space.Farokh Samad, Rug Radio founder
We are ecstatic to partner with the Rug Radio team to revolutionize how one incentivizes listenership. At Fair.xyz, we are excited to find new ways to give back to the community. It's a privilege for us to be working over the next year with some of the biggest artists in the space to bring Stubs to life.Isaac Kamlish, Fair.xyz co-founder
🕳️ Go Deeper
Rug Radio's "Faces of Web3 by Cory Van Lew" have revealed, according to a tweet from the project.
❗Why It Matters
Rug Radio PFPs from Cory Van Lew and the Rug Radio team have been in the works for quite some time and today's reveal marks the next step in the project's evolution. The collection grants membership into the Rug Radio ecosystem, alongside the Genesis NFTs and Rug Radio Membership Passes.
Community Quotes
Excited to have scooped an amazing @RugRadio PFP off secondary. Awesome work @coryvanlew & the team. 💯👏PLC.eth
📊 By the Numbers
The Rug Radio PFP has traded more than 450 ETH on OpenSea since its launch, with a floor price ranging from 0.07-0.12 ETH. Since reveal, the price has fallen slightly to 0.0678 ETH.
🎬 Take Action
Explore the collection and its respective rarities with the Lucky Trader Asset Explorer.
Rug Radio founder, Farokh, tweeted a mint update for Faces of Web3 by Cory Van Lew including the extension of the mint to partner communities.
❗ Why It Matters
So far 13,500 PFPs have been minted by 4,000+ Rug Radio holders in Wave 1, and the allowlist for Wave 2 of the mint is being extended to other NFT communities to allow more people to be onboarded into the Rug Radio ecosystem.
It's beneficial for holders of those other communities because if they win the PREMINT raffle, they can then decide on if they want to mint - without having a Rug Radio Genesis NFT and 690 $RUG. At the time of writing, the Faces of Web3 floor price is 0.14.
The Deets
- The list closes at 2:00 a.m. ET, and mint opens Thursday at 10:30 a.m. ET.
- 0.069 ETH mint price, max mint of 1 per wallet.
- 2,500 spots reserved for Rug Radio Membership Pass holders, the rest of the communities will receive varying quantities of raffle spots.
- i.e. BAYC/MAYC are getting 350 spots, Azuki/Pudgy Penguins 100 spots, Wolf Game 50 spots, GCG 25 spots, etc.
- Whatever is left will go into Wave 3 public mint shortly after the completion of wave 2
- Reveal happening "very early next week!"
🎬 Take Action
- Check if you are one of the included eligible communities (pictured below, listed in this tweet thread, and also on the Premint page)
- Register on PREMINT before 2:00 a.m. ET
🧠 Learn More
