Project name: fam.
Author name and contact info (please provide a reliable point of contact for the project):
Chris Tam (email@example.com; @ckttam on Telegram / Twitter)
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: 0x3b74c3F17559E4CD937C5bcA4bC86C23a2B8A5f0
Which Voting Cycle are you applying for?: Cycle 10
Which sub-committee should review your proposal? (Builders Grants, Growth Experiment Grants): Builders Grants
Project description (please explain how your project works): Fam is a public good that provides Community Hubs for token-based web3 projects (e.g. NFT collections) on our website (https://gmfam.xyz) and mobile app (fam. on the App Store). A Community Hub is a token-gated space where project holders can visit a Member Directory, view and contribute to an Activity Calendar, and join or create Community Clubs (groups, or sub-communities). We currently support Ethereum-based NFTs and would like to begin supporting Optimism-native NFTs, as well.
Other relevant links (including any demos): e.g. Community Hub for Pudgy Penguins: Pudgy Penguins - Fam
Additional team member info (please link):
Please link to any previous projects the team has meaningfully contributed to: Doodles – DoodleBank Community Fund proposal in the works; can provide links once live
Relevant usage metrics (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.): Major ETH NFT project partners using Fam officially for community management (including Doodles, Pudgy Penguins, and more in pipeline); ~500 members registered; ~400 community activities created
Competitors, peers, or similar projects (please link): Lu.ma (https://lu.ma/) – token-gated events
Otterspace (https://otterspace.xyz/) – DAO management
Charmverse (https://www.charmverse.io/) – web3 collaboration
Is/will this project be open sourced?: In the Future
Optimism native?: No
Date of deployment/expected deployment on Optimism: 3/31/2023
What is the problem statement this proposal hopes to solve for the Optimism ecosystem?: In order for Optimism to break into the consumer-facing mainstream, more consumer-facing digital projects (e.g. NFT collections) must choose to build their products in the ecosystem. The challenge is that there must be better and easier ways for those projects to provide value and utility to their end users (i.e. web3 consumers, e.g. NFT buyers), especially versus more established ecosystems. In particular, we believe that much of the value that such consumers are looking for in these types of projects comes from the community of other members, which is currently lacking in Optimism.
How does your proposal offer a value proposition solving the above problem?: Fam empowers members of web3 communities to connect and coordinate with one another, creating organic value amongst themselves. By adding support for Optimism NFTs on Fam, we hope to open our Community Hubs to Optimism-based NFTs projects, as well, making it easy for holders of Optimism NFTs to get the most out of their community experience, while also helping those NFT projects build, manage, and empower their communities.
Why will this solution be a source of growth for the Optimism ecosystem?: By adding this layer of community-based utility to all token-based projects on Optimism (e.g. NFT collections), we expect that it will be easier for such projects to attract users, thereby making it more attractive for projects to choose the Optimism ecosystem. Specifically, we would hope to drive growth in both the number (and share) of projects who choose Optimism, as well as the number of new and active Optimism wallets & users.
Has your project previously applied for an OP grant?: No.
Number of OP tokens requested: 100,000
Did the project apply for or receive OP tokens through the Foundation Partner Fund?: No
If OP tokens were requested from the Foundation Partner Fund, what was the amount?: N/A
How much will your project match in co-incentives? (not required but recommended, when applicable): N/A, as we do not currently have a token
How will the OP tokens be distributed? (please include % allocated to different initiatives such as user rewards/marketing/liquidity mining. Please also include a justification as to why each of these initiatives align with the problem statement this proposal is solving.): Development Costs – the OP tokens will essentially be used to cover development costs associated with supporting the Optimism ecosystem and its various NFT projects. This includes initial development costs, as well as ongoing support, maintenance, and various idiosyncratic requests by the ecosystem and/or partner projects.
User Rewards – while we have not budgeted for User Rewards in the current proposal, this could be interesting, and would essentially serve as a way to incentivize users not only to sign up for Fam, but to become holders of Optimism NFT projects. If this is worthwhile, we would be happy to discuss the scale and implementation of such a program separately.
Over what period of time will the tokens be distributed for each initiative? Shorter timelines are preferable to longer timelines. Shorter timelines (on the order of weeks) allow teams to quickly demonstrate achievement of milestones, better facilitating additional grants via subsequent proposals: The tokens will be distributed to the development team over the course of 3-4 months over the initial development and support period.
Please clearly define the milestones you expect to achieve in order to receive milestone based installments. Please consider how each milestone relates to incentivizing sustainable usage and liquidity on Optimism. Progress towards each milestone must be trackable: The main milestone will be successfully launching Fam Community Hubs for Optimism NFT projects. Some intermediate milestones could be developed with some early NFT projects, e.g. private alpha launch, integrating Optimism-based token data, gating based on Optimism-based tokens, supporting feature requests they might have on the way to launch, etc.
Why will incentivized users and liquidity on Optimism remain after incentives dry up?: Our belief is that community value is not only a means, but the ends – mainstream users are attracted to web3 projects like NFT collections by the dream of joining a community of like-minded individuals where they feel they truly belong. Not only is this sense of community something that brings new users into the ecosystem, but it is also the strongest and most organic incentive to remain and to stay engaged; community is the basis of the stickiness and network effects that bring about snowballing, exponential user growth.
Please provide any additional information that will facilitate accountability (smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.): Organization wallet addreess: 0xC149B82d92085D0Bb04b19b7DD5F0191A476CF99
Confirm you have read and agree to the Eligibility Restrictions (here): I have read the Eligibility Restrictions and agree to abide by their conditions