Latest Rug Radio Genesis NFT 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.
- 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 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.
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 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
Rug Radio hired Loxley Fernandes to join its executive team where he will lead business development and strategy as co-CEO, according to a tweet from the platform.
Why It Matters: Fernandes has experience in founding and growing businesses and has an intimate knowledge of Rug Radio and its mechanics having helped spearhead initiatives with the Rug Radio DAO. Bringing on an experienced leader will help Rug Radio to secure partnerships and expand its brand and operations.
I am honored to announce that I have accepted a position as co-CEO of Rug Radio. I am full of gratitude to the team for bringing me into this position to usher in the next generation of media. I am truly passionate about democratizing knowledge & opportunity and I believe that this position at Rug Radio is the nexus of my passions & experience. Loxley Fernandes
What's Next: The press release did not indicate any immediate plans for Loxley and team, but Rug Radio has been busy in recent weeks, launching its "listen-and-earn" initiative and preparing for its upcoming PFP mint in collaboration with artist Corey Van Lew.
Rug Radio's listen-to-earn loyalty program opens on tomorrow's GM Web3, according to a tweet from the project.
Action Items: Rug Radio encouraged users to opt-in to the program in advance so they don't miss the claim window. To do so:
- Go to http://rugradio.xpandrewards.xyz.
- Opt-in to the Rewards Program (must have a RR NFT in your wallet).
- Click “claim secret code.”
- Input the code given.
The Rug Radio listen-to-earn program is a subset of its Participate-to-Govern Loyalty Rewards Program, which rewards members for engaging and sharing about the project. Users can receive the $RUG token for liking, commenting, retweeting, and sharing hashtags related to Rug Radio and its creators.
The first listen-to-earn was introduced at the town hall on Jan. 13, offering live listeners up to 69 $RUG tokens.
❗ Why it Matters: With Rug Radio soon to be releasing a PFP collection, the listen-to-earn rewards program serves as another way for the community to engage and bring mindshare to the project.
🕳️ Go Deeper:
The upcoming Rug Radio PFPs featuring art by Corey Van Lew will drop on Monday, February 6, according to project leader Farokh.
❗ Why it Matters: These upcoming NFTs will serve as the official PFPs of the Rug Radio ecosystem.
🧠 Need to Know:
- Rug Radio NFT and Corey Van Lew 1-of-1 holders will be able to mint these PFPs beginning on February 6 for 690 $RUG (the project's native token).
- Phase 2 will be based on an allow list that will be determined by raffle.
- The third wave, if the project has not yet sold out, will be open to the public.
🕳️ Go Deeper:
- Check out some of Van Lew's previous works here.
- See a preview of the art in Farokh's announcement thread.
Rug Radio is set to release a PFP NFT collection according to its founder Farokh who made the announcement at Art Basel.
.@farokh just announced @RugRadio’s PFP project with art by @coryvanlew at #TheGateway 👀 pic.twitter.com/NixeMuf6HM— nft now (@nftnow) November 30, 2022
While the release date and how to lock yourself into the new PFP project are unknown, it is known that Cory Van Lew will be the artist behind the NFTs.
Lucky Trader will cover more updates on the recently announced PFP collection as they occur.
The RugDAO Council and Prop House Proposals are now live. Holders of $RDAO will be able to vote on the proposals over the next few days. Questions can be submitted to the team in the RugDAO discord.
The RugDAO Operational Council Proposal is around the formation of the Council itself. 7 members will be selected to advance the RugDAO mission of decentralized media. The council will be responsible for providing oversight for the RugDAO and help curate ideas for the direction of the group.
The Prop House Proposal will establish a trial Prop House for RugDAO, in cooperation with Nouns DAO. The Prop House would allow RugDAO to deploy a platform to give RugDAO contributors and content creators to compete for grants to further expand the project's reach.
A snapshot was taken for $RDAO holders at 4:26 p.m. ET on November 1. $RUG for $RDAO can be claimed on the Syndicate site for holders of the Genesis RUG Raido NFT. Voting for the proposals will close on November 6 at 6 p.m. ET.
A wallet recently swept a total of 119 Rug Radio NFTs this evening for a total of more than 45.00 ETH according to etherscan.
The wallet was created in October 2022 according to OpenSea and was loaded with more than 50.00 ETH today via a Blockfolio account. Shortly after the wallet received the ETH it began sweeping Rug Radio NFTs via the Blur.io marketplace.
Known as EMBRACECHAOS on OpenSea, the wallet currently holds 119 NFTs, all of which are Rug Radio NFTs purchased during the sweeps.