Project name: Bored Town
I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: Yes
I understand that I will be expected to following the public grant reporting requirements outlined here: Yes
L2 recipient address: 0x99a9cC2Aaf54F6bE94A437641692A72810f6E9d5
Which Voting Cycle are you applying for?: Cycle 10
Which sub-committee should review your proposal? Growth Experiment Grants
Bored Town is a vibrant community of 5555 NFT monsters living on the Optimism blockchain, crafted by Thai NFT artist sorryvrerror. The project offers an exceptional opportunity for Bored Town holders to unleash their creativity and bring their ideas to life through derivative works, whether for personal or commercial purposes, governed by CC BY-SA terms.
On Bored Town’s launch date of June 11th, 2022, our NFT project saw a tremendous response from the community with 20,000 transactions from 5,900 unique wallets interacting with our smart contract. This is a testament to the increasing demand for NFTs and the growing popularity of our project. Our efforts to onboard new users to Optimism have been successful, with 7,015 individuals joining the platform. Furthermore, our official collection launches have consistently caused launchpads to crash, further highlighting the excitement and anticipation surrounding our project. For reference: https://dune.com/frank_maseo/optimism-new-users-protocols-used
Our NFT project is committed to giving back to the community. In the past year, we have generously distributed over 200 NFTs, 200 physical products, donated children’s books to 10 schools in Thailand, and allocated 20% of our marketing budget and income towards minting rewards. Additionally, we have set aside 10% of the rewards for team members selected from among the community members who have contributed to our project. We have also transferred approximately 50 NFTs from our various Optimism collections to other projects for cross promotions.
Our team has actively engaged with the NFT community both within and beyond the Web3 ecosystem. We have conducted NFT creator workshops in partnership with universities and technology companies, providing support and guidance to new artists and entrepreneurs seeking to establish their own NFT projects. Additionally, we have collaborated with our own physical business to integrate NFTs into real-world experiences, and have also worked with a publisher to release a series of children’s books featuring characters from the popular Bored Town franchise. These books are scheduled to be published later this year, further expanding the reach and impact of our NFT initiatives.
This commitment to community outreach and support is a fundamental part of our NFT project, and we believe that this focus on giving back will not only benefit the community but also help to grow and sustain our project over the long term.
Additional team member info
Please link to any previous projects the team has meaningfully contributed to:
Relevant usage metrics:
- 30.2K Twitter followers for Bored Town (Including OpenSea official account)
- 14.5K followers for founder and artist Sorryvrerror
- 17.3K Discord members
- 3,786 Bored Town holders (68% unique owners)
- 24k all collections holders
Total trading volume on all collections:
139.75 ETH (0 ETH minting price) + 2531 APT (1 APT minting price)
Trading volume on Optimism collection:
56.2 ETH trading volume on Bored Town genesis collection (Optimism chain)
15.75 ETH trading volume on other Optimism collections
By continuing to onboard users from other blockchain ecosystems we have projects on, we believe that we can drive significant growth of Optimism, and help to establish it as one of the leading platforms for NFT creation and exchange.
Trading volume on collection outside Optimism:
35 ETH trading volume on Faceless Portraits collection (Ethereum chain)
18 ETH trading volume on Arbitrum Nova collection
2531 APT sale volume on Aptos collection
Experimental collection on zkSync (testnet)
Experimental collection on Solana
Is/will this project be open sourced?: Yes
Optimism native?: Yes
Date of deployment on Optimism: June 11, 2022
Our plan for 2023:
1. Bored Town Community:
Create a Bored Town 2D interactive map and mobile community that allows our holders to participate in activities, mint NFTs, and interact with our projects both online and in real life.
2. Catens NFT: https://twitter.com/CatensOfficial
Our plan is to onboard more collectors to the Optimism platform through the Catens collection, a 100k project aimed at expanding the network of partnerships and collaborations. With a focus on ongoing drops and limited edition pieces, the Catens collection will feature exciting collaborations with Optimism’s current and future partners.
Our first collaboration, a 978 mint release with the Optimism project, Beers Can, and Omnichain launchpad Omnisea, has already produced a total of 3,000 pieces and received positive feedback from the community. Moving forward, we plan to collaborate with blue chip partners and other established players in the industry to produce up to 5,000 pieces for future drops. Additionally, we will offer smaller runs for new and emerging projects to support their growth. To further increase brand awareness and engagement, we propose creating a large run with Optimism incorporating the company’s branding.
3. Dynamic NFT project:
While we’re using Catens for promotion and onboarding, our development team will be working on building our own software for creating dynamic NFTs. A beta version will be tested with Bored Town. A full version of the software will be launched in conjunction with the introduction of a new dynamic NFT collection that extends the art style created in Bored Town.
4. Bored Studio:
Develop Bored Studio to foster the growth of the Optimism NFT ecosystem by onboarding and supporting new creators. We will provide tools, and guidance to help NFT creators bring their projects to life. Additionally, we will actively promote these projects to our community of art enthusiasts and collectors. To incentivize participation and reward our community members for their support, we will establish a mechanism for distributing rewards from Bored Studio to NFT holders.
In 2022, our frustration with L1 led us to discover the benefits of L2 and Optimism, specifically its low gas fees and the growing popularity of free mints. The release of our Bored Town collection was intended to not only showcase our art but also learn more about Optimism and its capabilities. Our continued experimentation with L2 chains led us to conclude that Optimism aligned best with our goals and was where we wanted to build our project.
Bored Town shares Optimism’s vision of a more open, accessible, and decentralized financial system, utilizing its technology to achieve this aim. Our focus on community building, supporting others, and fostering a common good aligns with Optimism’s mission. We have already established connections and engaged in cross-promotions and collaborations with other projects within the Optimism community.
We are eager to collaborate with Optimism and its team, and look forward to working together to further develop Bored Town. Our goal is to enhance the user experience and promote the growth of the collection by exploring new features and integrations offered by Optimism.
Ecosystem Value Proposition:
The Bored Town project is based in Thailand. There are almost 270,000 members in Thailand’s NFT & crypto art community. In addition to a large percentage of collectors, we are home to many talented artists, developers, and NFT creators. Currently, many artists use multiple blockchains such as Near, Ethereum, Tezos, and Solana but need more resources and marketing skills to reach a wider audience and sustain a successful project.
Our founder, who faced similar challenges, has a deep understanding of the obstacles faced by creators. Bored Studio aims to address these challenges by working with Optimism in creating tools and establishing a community that bridges the gap between artists and art collectors. Optimism is a reliable and low-cost blockchain with a promising future, and we see it becoming a leading platform for NFT art.
Bored Studio is dedicated to empowering NFT artists and creators by breaking down language and technology barriers, building a community of art lovers, and providing the resources and tools necessary for success. Our goal is to spread awareness of Optimism’s NFT space to more collectors and onboard new users from Southeast Asia to the web3 ecosystem.
Number of OP tokens requested: 200,000
Did the project apply for or receive OP tokens through the Foundation Partner Fund?: No
How much will your project match in co-incentives?:
- 10% of all royalties from Bored Town are donated to public goods.
- 50% of any future sales (currently free mint) and royalties from Catens will be allocated to public goods.
- In line with our dedication to fostering the growth of the Optimism ecosystem, we plan to make our dynamic NFT software open-source for the Optimism community following the project launch. This will allow others to build upon our work and further advance the NFT space on Optimism. In addition, holders of other Optimism NFT projects will be able to receive special incentives within our dynamic NFT collection.
Proposal for token distribution:
How will the OP tokens be distributed?
40% to develop and maintain the dynamic NFT project software that will be provided as open-source to the Optimism community after the project is completed. This software will also be developed for the Bored Town studio to provide shortcuts to the NFT creators who join our program.
40% to incentivize the community to create art, community participation, NFT minting, etc.
20% for the marketing budget for 6 months.
This is an alternative plan for distribution in the event that our original proposal cannot be approved due to the ‘no sale’ rule.
How will the OP tokens be distributed?
25% of the budget will be allocated towards promotion and incentives aimed at rewarding current Bored Town holders and attracting new collectors. The allocation will be distributed across a range of initiatives, including staking, giveaways, raffles, and quests on Quest3. Additionally, a portion of the funds will be used to acquire NFTs from other Optimism projects and artists to serve as prizes to our holders.
35% percent of the budget will be devoted to the Catens:
- 25% will be utilized for mint-to-earn, raffles, and giveaways programs.
- 10% of the budget will be earmarked for cross-promotion and rewards for art contests and onboarding new artists.
40% of the budget will be dedicated to the promotion and reward program of our dynamic NFT project. This allocation covers a mint-to-earn initiative, an $OP bounty for contributors who generate promotional content and memes, Quest3 events, and other incentives.
Holders of Bored Town collections on Optimism, including the Bored Town series, Ape Warrior, The Vintract, Alpha Gal, Mangmoom, Xmas ABC, and Catens, will be granted special traits for the dynamic NFT. Non-holders will have the chance to earn non-holder traits through quests leading up to the dynamic NFT launch. Cross-promotions with other Optimism projects will also offer opportunities for special traits and incentives.
Over what period of time will the tokens be distributed for each initiative?
Why will incentivized users and liquidity on Optimism remain after incentives dry up?
Bored Town is a pioneering NFT community on the Optimism blockchain. To jumpstart growth and foster a thriving NFT market, the project will launch with an incentivized program aimed at accelerating market maturity and stability. Despite relying on initial funding from Optimism, we are confident that the Bored Town project will be self-sustaining even after the grant funds have been utilized.
Our commitment to the long-term growth and development of Bored Town is reflected in our comprehensive plans for the future. We are confident that these initiatives will continue to drive the Bored Town brand forward and deepen its relationship with the Optimism ecosystem. Our focus on sustainability and growth will ensure the success and longevity of the Bored Town project.
Please provide any additional information that will facilitate accountability: